The global plant's specialty source enzymes market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The major factor that is boosting the growth of the global plant's specialty source enzymes market includes a rise in demand for non-harmful biological catalysts in pharmaceuticals & diagnostics. Moreover, the advancement of tools to optimize pharmaceutical production and quality concerns among people have increased the usage of specialty enzymes, which in turn is fuelling the market demand during the forecast period.
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Other factors which are driving the market include the multifunctional benefits of specialty enzymes across various applications and technological innovations to reduce the consumption of chemical catalysts, which are contributing to the growth of the global plant's specialty enzyme source market.
The global plant's specialty source enzymes market analysis includes some of the key market players such as BASF, DuPont, Roche Holding, Novozymes, DSM, Sanofi, and Codexis, among others. To maintain a strong position in the market, these market players are adopting various strategic moves, such as product launches, partnerships, collaborations, and mergers and acquisitions.
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Recent Developments
- In April 2019, DuPont Nutrition & Biosciences launched its industry-leading OPTIMASE portfolio. This portfolio contains bio-based enzymes, which will be used for the cleaning of medical instruments. The product range is aimed at high performance and reduction in enzyme stabilizing ingredients, while also saving space and cost.
- In December 2019, Roche Holding (Switzerland) entered into an agreement with Codexis (US) for providing enzymes. Codexis will supply EvoT4 DNA ligase to Roche. EvoT4 DNA ligase is a high-performance molecular diagnostic enzyme.
- In September 2019, BASF (Germany) entered into a cooperation agreement with Conagen (US), a leader in biotechnology research. Conagen has strong R&D capabilities for fermented ingredients. This decision will enable BASF to serve the market with one of the aroma ingredients with the highest demand—natural vanillin.
- In June 2019, Novozymes (Denmark) expanded its presence in East Africa. This allowed the company to meet consumer needs for enzyme products in the region.
- In October 2019, Sanofi (France) opened its first digitally-enabled manufacturing facility in Framingham, Massachusetts. The new manufacturing facility has the technology of connecting the production process to R&D. This will improve the commercialization of new medicines.
Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: BASF, DuPont, Roche Holding, Novozymes, DSM, Sanofi, and Codexis, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Plants Specialty Source Enzymes Market by Segment
By Type
- Carbohydrases
- Proteases
- Polymerases＆Nucleases
- Lipases
By Application
- Pharmaceuticals
- Research & Biotechnology
- Diagnostic
- Others
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