NEWARK, DE / ACCESSWIRE / March 29, 2023 / The latest market research conducted by FMI, the global marine enzymes market is expected to record a CAGR of 6.8% from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 453.90 million. By 2033, the valuation is anticipated to reach US$ 876.34 million.
Its adoption to accommodate different pharmaceutical applications is expected to positively impact the industry's expansion. Marine enzymes are frequently used in research and diagnostics for molecular DNA/RNA analysis. Since they offer innovative biocatalysts with exceptional capabilities, marine microbial enzymes have become increasingly popular in research and development operations across the pharmaceutical business. The use of marine enzymes as catalysts in industrial biotransformation and the development of marine medicinal products is expanding, likely to support market expansion.
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The main obstacle to expanding the global marine enzymes market is its complex production method and high cost. Microbiology, genetics, and biochemistry must combine various technologies and technical expertise to produce marine enzymes for commercial use.
The demand for marine enzymes is rising as the production of these enzymes rises daily due to their expanding use in various applications. In preparing the inoculum, creating and fermentation, and recovering and purifying the enzymes, the stages and complexity involved in manufacturing these enzymes also include choosing the source of the enzymes, isolating them, and enhancing the strain. Over the projected period, manufacturing marine enzymes involves such intricate production procedures that it may prove to be a significant barrier to the market's expansion of marine enzymes.
Key Takeaways:
- The marine enzymes market is anticipated to reach a valuation of US$ 453.90 million in 2023.
- The marine enzymes market is predicted to record a CAGR of 6.8% through 2033.
- The expenses associated with manufacturing marine enzymes may prevent them from being widely used in a variety of industries.
- The marine enzymes market is expected to surpass US$ 876.34 million by 2033.
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Competitive Background:
The key players operating in the marine enzymes market are investing in mergers and acquisitions to gain a significant market share. The manufacturers are also investing in research and development and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the marine enzymes market. As a result, market participants are likely to have a better overall revenue share in the global marine enzymes market.
Significant Market Players: Novozymes A/S, Advanced Enzymes Technologies Limited, BASF SE, Royal DSM N.V, E.l. Du Pont de Nemours & Company, Rossari Biotech Limited, AB Enzymes GmbH, Lallemand Inc., Amano Enzymes Inc., Biocatalysts Limited, Creative Enzymes, Nagase & Co., Ltd., Chr Hansen Holding A/S, Jiangsu Boli Bioproducts Co. Ltd., Kemin Industries, Inc & Others
Market by Category
By Product Type:
- Agarases
- Amylases
- α-Amylases
- Glucoamylases
- Pullulanase
- Glucosidases
- Inulinases
- Proteases
By End User:
- Dairy Products
- Brewing
- Meat Products and Processing
- Bakery & Confectionery
- Baby Food/ Infant Food
- Oil & Fat Processing
- Starch and Grain Processing
- Fruits and Vegetable Processing
- Cheese Making/ Processing
- Egg Products
- Beverages
- Dietary Supplements
- Pharmaceutical Products
- Personal Care Products
- Animal Nutrition
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Table of Content
1. Executive Summary | Marine Enzymes Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI's Extensive Coverage on Food & Beverage Domain:
Agricultural Enzymes Market Size: Looking ahead, FMI projects that the agricultural enzymes market can expand at a compound annual growth rate of 10% from 2022 to 2032.
Food Enzymes Market Share: The food enzymes market is projected to register an average CAGR of 6.5% during the forecast period.
Bakery Enzymes Market Demand: As per Future Market Insights (FMI), the overall bakery enzymes market value is expected to reach US$ 1,452.3 Mn by 2031, rising at a CAGR of 5.1% for 2021-31.
Wine Enzymes Market Growth: According to Forecasts, the market would be worth US$ 2,245.1 Million by 2033, up from US$ 1,404.8 Million in 2023.
Brewing Enzymes Market Forecast: The global brewing enzymes market is expected to reach a valuation of US$ 409.3 Mn in 2022
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