Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Novozymes (Denmark) and BASF (Germany) are the Key players in the Specialty Enzymes Market

Author: Mitali Kekane
by Mitali Kekane
Posted: Oct 08, 2020

The specialty enzymes market was valued at USD 4.4 billion in 2019 and is projected to reach USD 6.6 billion by 2025, recording a CAGR of 6.9% during the forecast period. The demand for enzymes is increasing significantly, as it is being used across various specialty applications and as a substitute for chemical catalysts.

Key players in this market include BASF (Germany), Novozymes (Denmark), Roche Holding (Switzerland), DuPont (US), Codexis (US), Dyadic International (US), Advanced Enzymes (India), Amano Enzymes (Japan), Sanofi (France), Biocatalysts (UK), Enzyme Supplies (UK), BBI Solutions (UK), Specialty Enzymes & Probiotics (US), Amicogen (South Korea), Antozyme Biotech (India), Enzyme Development Corporation (US), Nagase & Co. Ltd. (Japan), Sekisui Diagnostics (US), Merck (Germany), and Biovet (Bulgaria).

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=21682828

Novozymes (Denmark) is a major bio-innovation company providing biological solutions, which involves the application of enzymes and microbes. The company offers various products, which cater to industries, such as household care, food & beverage, bioenergy, agriculture & feed, and technical & pharma. Novozymes has been introducing new products for making its product portfolio diverse. In addition, the company is focused on expanding its global presence to prosper in the global enzymes market. Currently, it has been catering to all the major regions, such as North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. It focuses on innovation activities to identify new opportunities in the specialty enzymes market. For instance, in May 2019, Novozymes became the first multinational company to partner with Alibaba’s 1688 platform in industrial biotechnology in China. This would boost the usage of enzymes among small & medium sized enterprises in China.

BASF (Germany) is a global chemical manufacturing company and specializes in catering to segments, such as chemicals, performance products, functional materials & solutions, agricultural solutions, and others. Along with this, the company has been investing mainly in biotechnology and large-scale production of enzymes. The strategies that are being adopted by BASF to be a market leader in the specialty enzymes market are collaborations and expansions. In addition, to make its product portfolio diverse, the company has been focusing on launching new products and expansions. BASF has three global research divisions, which are operated from Europe, Asia Pacific, and North America. For instance, BASF had set up its enzyme-based production plant for biocatalyzed acrylamide in Nanjing, China. This was the first biocatalyzed acrylamide (BioACM) plant in Asia Pacific. This would cater the demand for specialty enzymes in the Asia Pacific region.

By type, the specialty enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and other enzymes (such as catalases, laccases, oxidases, phosphatases, kinases, esterases, and pectinases). Polymerases & nucleases have been bolstering the biotechnological advancements for research & developments in the various industries. They have been used for molecular cloning to manipulate nucleic acids to generate advanced enzymes available today for commercial uses. Polymerases and nucleases have been highly used in the pharmaceutical industry for biotechnological innovations to manufacture various types of drugs. Moreover, their usage bolsters rapid developments of new diagnostic tests that target DNA and RNA substrates.

The specialty enzymes market in North America is dominating due to the increasing demand for enzymes in specialty applications. Technological innovations in machinery, optimization of production, logistics, and globalization of business have made the pharmaceutical industry one of the essential sectors in the North America region. However, the shift of industrial operations from developed regions, such as North America and Europe to Asia Pacific, has further contributed to the growth of the specialty enzymes market in Asia Pacific region. The use of specialty enzymes in biotechnology advancements such as drug cloning, transgenic organisms, and gene modification has been fueling the market in Asia Pacific. Furthermore, the European consumers have shown an inclination toward clean-label and organic products. This has enabled manufacturers to consider organic ingredients as key components of the products. Due to this, the specialty enzymes market in the European region is led by the growing focus on the production of pharmaceutical products, owing to the functional benefits of enzymes.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

About the Author

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 com

Rate this Article
Leave a Comment
Author Thumbnail
I Agree:
Comment 
Pictures
Author: Mitali Kekane

Mitali Kekane

Member since: Feb 05, 2019
Published articles: 72

Related Articles