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Protease Market
Protease Market by Source, and Application : Global Opportunity Analysis and Industry Forecast 2021-2030
PORTLAND, OR, UNITED STATES, September 23, 2022 /EINPresswire.com / -- Allied Market Research published a report, titled, 'Protease Market by Source (Plants, Animals, and Microbes) and Application (Foods & Beverages, Pharmaceuticals, Animal Feed, Soap & Detergents, and Others): Global Opportunity Analysis and Industry Forecast 2021–2030'. According to the report, the global protease industry generated $3.4 billion in 2020, and is anticipated to generate $5.7 billion by 2030, witnessing a CAGR of 5.4% from 2021 to 2030.
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Prime determinants of growth
Rise in demand from foods & beverages industry, increase in preference regarding healthy and nutritional food, growth in demand from soap & detergents industry, and surge in applications in the pharmaceuticals industry drive the growth of the global protease market. However, high manufacturing cost and stringent regulatory requirements hinder the market growth. On the other hand, substitute for traditional chemicals and emerging technological platforms present new opportunities in the coming years.
Covid-19 Scenario
The outbreak of the COVID-19 pandemic has had a positive impact on the growth of the global protease market, as people became more health conscious and started to prefer nutritional food.
Demand for detergents spiked rapidly, owing to increase in need for regular washing and cleaning of clothes.
The microbes segment to maintain its leadership status throughout the forecast period.
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Based on source, the microbes segment held the highest market share in 2020, accounting for more than three-fifths of the global protease market, and is estimated to maintain its leadership status throughout the forecast period. Huge demand for microbial proteases across various commercial and industrial applications such as foods & beverages, pharmaceuticals, textile, leather, and feed propels the microbes segment. Moreover, the plants segment is projected to manifest the highest CAGR of 6.7% from 2021 to 2030, owing to growth in applications of various types of plant proteases in the pharmaceutical industry.
The soap & detergents segment to maintain its lead position during the forecast period
Based on application, the soap & detergents segment accounted for the largest share in 2020, contributing to more than two-fifths of the global protease market, and is projected to maintain its lead position during the forecast period. Stain removal properties of protease enzymes has led to extensive demand for protease in the soaps and detergents industry. However, the pharmaceuticals segment is expected to portray the largest CAGR of 6.9% from 2021 to 2030. Rise in prevalence of various diseases and growth in adoption of proteases in development of drugs is expected to propel growth of the pharmaceuticals segment.
North America, to maintain its dominance by 2030
Based on region, North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global protease market. Increase in adoption of industrial protease enzymes in production of laundry detergents and in industrial waste management, leather processing, and pharmaceuticals has led to growth of the protease market in North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 6.5% during the forecast period, owing to presence of huge consumer base and rise in demand for numerous products that involves use of protease in production.
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Leading Market Players
Advanced Enzyme Technologies,
Amano Enzyme, Inc.
Associated British Foods Plc
BASF SE
Biocatalysts Ltd.
Dyadic International, Inc.
E.I. Du Pont De Nemours and Company
Koninklijke DSM N.V.
Novozymes A/S
Specialty Enzymes & Probiotics
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