SOURCE: MarketResearch.com

MarketResearch.com

February 14, 2011 11:08 ET

Industrial Enzymes Market Estimated at $3.3 Billion in 2010

ROCKVILLE, MD--(Marketwire - February 14, 2011) - MarketResearch.com has announced the addition of BCC Research's new report "Enzymes in Industrial Applications: Global Markets" to their collection of Biotechnology market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6060223

Extensive research on the biochemistry of small organisms has revealed that specific enzymes are responsible for the production of brewing, baking, and milk and dairy products. Microorganisms used in the past have now been replaced by purified enzymes. Modern industries have begun to explore the advantages of enzymes. This has led to the growing market for industrial enzymes.

Research and development (R&D) spending, along with increasing competition, patent expiries, and new technologies are taking the global market for industrial enzymes in a new direction. Although the industry did see a setback in 2009 due to the economic downturn, the new advancements and the need for cost reductions are influencing market growth. This study looks at most of the systems affected by these factors.

The global market for industrial enzymes is estimated at $3.3 billion in 2010. This market is expected to reach $4.4 billion by 2015, a compound annual growth rate (CAGR) of 6% over the 5-year forecast period.

Technical enzymes are valued at just over $1 billion in 2010. This sector will increase at a 6.6% compound annual growth rate (CAGR) to reach $1.5 billion in 2015. The highest sales of technical enzymes occurred in the leather market, followed by the bioethanol market.

The food and beverage enzymes segment is expected to reach about $1.3 billion by 2015, from a value of $975 million in 2010, rising at a compound annual growth rate (CAGR) of 5.1%. Within the food and beverage enzymes segment, the milk and dairy market had the highest sales, with $401.8 million in 2009.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=6060223

Contact Information