Home > Pressrelease > Marine Enzymes Market size to exceed $805 Mn by 2032
Marine Enzymes Market size to exceed $805 Mn by 2032
- Published Date: March 24, 2023
Marine Enzymes Market size is estimated to reach USD 805 million by 2032, according to a new research report by Global Market Insights Inc.
Rising adoption to cater to various pharmaceutical applications will positively influence the industry expansion. Marine enzymes are widely deployed in molecular DNA/RNA analysis across the research and diagnostics sector. In recent years, marine microbial enzymes have grown largely popular in research and development activities across the pharma industry as they provide novel biocatalysts with extraordinary properties. The growing usage of marine enzymes as catalysts in industrial biotransformation as well as in the production of marine pharmaceutical commodities will anchor the market growth.
Surging application scope of proteases in food & beverages to boost marine enzymes industry
Marine enzymes market valuation from the proteases product segment is likely to surpass USD 125 million by 2032, on account of their increasing adoption in biofuels. Proteases are extensively employed in the food & beverage sector as they offer enhanced deliciousness while extending the storage life of multiple protein sources. These marine enzymes are specifically used for baking purposes considering their ability to improve textures and flavours while regulating the gluten strength in bread. Increasing demand for proteases as key components in detergent formulations to remove protein stains will further add to the product preference.
Browse key industry insights spread across 250 pages with 165 market data tables and 10 figures & charts from the report, “Marine Enzymes Market Size By Product (Proteases, Lipases, Amylases, Xylanases/Hemicellulase, Pectinase, L-glutaminase, Pullulanase, Agarase), By Application (Food & Beverages, Medicine, Nutraceutical, Cosmetics, Textile) & Forecast 2023 - 2032” in detail along with the table of contents:
Increasing interest in cosmetic products to accelerate demand for marine enzymes
Marine enzymes market size from cosmetics applications is predicted to exhibit more than 6.5% CAGR through 2032. The ascending preference for cosmetics worldwide has propelled the demand for cosmetic-oriented proteolytic enzymes in hydration, cleansing, as well as restoration of the skin barrier along with improving the wound inflammation. Marine enzymes are hence largely used in cosmetics as they enhance the appearance of the skin while preventing problems. On account of their antibacterial properties, they are incorporated in formulations for limiting acne, aging and pigmentation as they exfoliate and keep the skin firm while preventing free radicals from damaging the body. The presence of cofactors and coenzymes in these enzymes to promote healthy skin is expected to further drive the market development.
Rising rate of industrialisation to foster APAC marine enzymes industry growth
Asia Pacific marine enzymes market is slated to cross USD 190 million by 2032, attributed to the fast-growing pharmaceuticals and detergents industries in the region. The removal of the ban on frozen beef imports from Australia by China is positively influencing the adoption of marine enzymes in the food & beverages sector. The rapidly expanding leather manufacturing, household care, animal feed, and pharmaceutical verticals and the consequently growing product demand are other factors adding to the regional market dynamics.
Strategic partnerships to outline competitive landscape of the market
Major players involved in the marine enzymes market include Koninklijke DSM NV, Novozymes AS, Antozyme Biotech Pvt. Ltd., BioLume Inc., ArcticZymes Technologies ASA, Dash Corp., Novo Nordisk AS, Revelations Biotech Pvt. Ltd., BASF SE, Kemin Industries, Inc, Creative Enzymes, Lallemand Inc., and Royal DSM NV. These firms are constantly essaying collaborative ventures, such as partnerships and acquisitions for process and technological upgradations while strengthening their global presence. For instance, in April 2021, Kemin Industries acquired Proteus Industries, a well-known food technology and ingredient company, to add sustainable and clean-label yield enhancement technologies to its portfolio of ingredient solutions.