Proteases Market by Source (Microbial, Animal, Plant), Formulation (Liquid, Lyophilized Powder), Product (Renin, Papain, Alkaline), Application (Food & Beverages, Feed, Soaps & Detergents, Pharmaceutical), & by Region - Global Forecast to 2021
This report analyzes the proteases market, in terms of source, application, methods of production, formulation, product, and region. The proteases market has grown rapidly in the last few years and is projected to reach a value of USD 2.21 billion in 2021 at a CAGR of 6% from 2016 to 2021. The primary factors driving the global success of proteases are the increasing demand of proteases in diverse industries including food & beverages, livestock feed, soaps & detergent, pharmaceuticals, other industries due to the advancements in technology, economic efficiency, and ecological benefits.
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"Pharmaceuticals is the fastest growing application in the proteases market"
On the basis of application, the proteases market is segmented into food & beverages, livestock feed, soaps & detergent, pharmaceuticals, others (textile & leather, waste management, chemical industries, silver recovery, photography, and biofuel). Among all the applications of proteases, the pharmaceutical segment is projected to be the fastest-growing application from 2016 to 2021. The growing incidence of diseases and increasing consumer awareness on disease prevention and treatment measures are the driving factors for the pharmaceutical segment.
"China and India: The future of the proteases industry"
North America dominated the global proteases market in 2015. The Asia-Pacific region is projected to be the fastest-growing market from 2016 to 2021. The markets are growing in China and India due to the increasing disposable income of the people, growing urban population, abundance of human capital along with government support to promote the growth of biotechnology, and ease of doing business in developing countries, making way for profitable returns.
Break-up of primaries:
* By Company Type: Tier 1 - 50 %, Tier 2 - 20%, and Tier 3 - 30%
* By Designation: C level - 28%, Director level -22%, Others - 50%
* By Region: North America - 40%, Europe - 30%, Asia-Pacific - 21%, RoW - 9%
Leading players in the proteases market are Chr. Hansen Holdings A/S (Denmark), E.I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V. (The Netherlands), and Novozymes A/S (Denmark). Other players include Dyadic International Incorporated (U.S.), Advanced Enzyme Technologies Ltd. (India), Biocatalysts Limited (U.K.), Amano Enzyme Inc. (Japan), and Specialty Enzymes and Biotechnologies (U.S.).
Reasons to buy this report:
* To get a comprehensive overview of the global proteases market
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