The continuous advancement in enzyme technology is a primary factor driving the current growth of the enzyme market. The increase in the popularity and penetration of enzymes in various industries has also contributed to the growth of the enzyme industry. The continued progress of genetics and processing technology has enabled the industrial enzyme market to provide enhanced, cost-effective products. The food and beverage sector accounts for the highest industrial enzymes market share as increasing food and beverage consumption, especially wine and meat worldwide, is one of the major driving forces of the enzyme market.
Enzyme activity can be regulated by activators or inhibitors, which help increase or decrease the enzyme activity, respectively. Among product types, lyases help in catalyzing the structural formation of bonds within an atomic structure by adding or removing chemical groups. The ligases can catalyze the bonding between different substrates with the help of an energy source. Isomerases activate the restructuring of chemicals within a particular molecule. Oxidoreductases help in oxidation reduction, a process in which a specific atom donates its electron to a different atom, while transferases help in the transfer of chemical groups from one substance to another.
The xylanase enzyme is gaining traction in the development of environment-friendly technologies, especially in the paper and pulp industry. The growing demand in the beverage industry contributes to the food enzymes market growth over the next few years. This will lead to the expansion in the scope of food enzyme application in the brewing industry. There will be increasing investments towards R&D as researchers are increasing their focus on activities that add value to the industry. These R&D activities include the identification and production of enzymes from fungi and microbes and the development of next-generation enzymes.
Digestive enzymes (such as amylase, gelatinase, and lipase) have the ability to convert food into useful compounds. Metabolic enzymes including acetyl-CoA and phosphoglycerate dehydrogenase are produced in the body, which helps the optimal functioning of organs and tissues, while also regulating blood flow. Food enzymes, such as lactase, lipase and protease, are extracted from milk, sugar, oil, meat and nuts.
Factors including growing demand for special enzymes, the booming pharmaceutical industry, and increased output from each end-use industry are expected to drive global enzyme market growth over the forecast period (2019-2024).
Due to the high demand for functional foods and the existence of large end-use industries such as food and pharmaceuticals in these developed regions, Europe is expected to occupy the second largest market share in Europe, followed by North America. However, the strong economic growth of emerging economies in India and China, and the rapid growth of various end-use industries in the Asia-Pacific region, are expected to make the region the fastest growing region in the global enzyme market over the forecast period. Due to population growth, the Asia-Pacific region will become the most profitable region in the enzyme market, which has stimulated demand for food and medicine, as well as increasing demand for functional foods.
Special health attributes of consuming functional food such as the reduced risk of chronic diseases. Growing health concerns due to the increasingly sedentary lifestyle among the populace, have led to a greater emphasis on creating and perpetuating healthcare awareness by various government and private organizations. This, in turn, has led to consumer awareness of the reduced disease risk attributes of functional foods, which has increased demand for functional foods.
These factors hopefully drive the growth of the enzyme market over the forecast period. Enzymes are used to manufacture functional foods. Functional foods use enzymes such as proteases, lipases, Amylase, and cellulose to enhance their functional properties, including enhancing digestion, antioxidants, and reducing cellular aging and nutritional properties. For example, to reduce cholesterol levels, omega-3 fatty acids and probiotic yogurts are used as functional foods. Many scientists and researchers claim that omega-3 fatty acids can also improve brain function. According to a study conducted by Market Insights, the global functional food market is estimated to reach $ 65 billion by 2024, and the compound annual growth rate over the forecast period is estimated to exceed 15%.
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