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The industrial enzymes market is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 8.7 billion by 2026, recording a CAGR of 6.5%
The report
“Industrial Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, Other Types), Source, Application (Food & Beverages, Feed, Bioethanol, Detergents, Pulp & Paper, Textiles & Leather, Wastewater Treatment, Other Applications), Form, and Region – Global Forecast to 2026″, According to MarketsandMarkets, the industrial enzymes market is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 8.7 billion by 2026, recording a CAGR of 6.5%, in terms of value. The growing environmental concerns and enzyme quality in food & beverages and feed, and the rising demand for bioethanol are factors that are projected to drive the growth of the industrial enzymes market globally.
Enzymes Market Projected to Garner Significant Revenues by 2025 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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Market Overview of Covid-19 Outbreak:
This report offers information that help to know which market segment or region or country to emphasis in coming years to channelize their efforts and investment to maximize growth and profitability. The report delivers market competitive landscape and a consistent detailed study of the major players in the market along with economic slowdown because of COVID-19.
Some of The Key Aspects Covered in This Report:
What will be the Lipase market development rate, growth momentum or acceleration market carries during the forecast period?
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According to the report, the Global Enzymes Market accounted for $10.19 billion in 2019 and is expected to reach $19.87 billion by 2027, growing at a CAGR of 8.7% during the forecast period.
High demand for effective enzymes based pharmaceuticals, rising demand from various industries and advancements in R&D activities for technical enzymes are some of the factors propelling the growth of the market. However, stringent regulatory framework and handling & safety issues of enzymes are hampering the growth of the market.
Enzymes are biocatalysts that accelerate the reaction and produce the desired results in biological reactions. Enzymes also feature other properties, such as the ability to react with a specific reactant. Enzyme activity can be regulated by activators and inhibitors, which help to increase and decrease the activity of enzymes, respectively.