Nutrition

News 956 views last update:6 Aug 2012

Global enzyme market to hit $2.7b in 2012

According to a new technical market research report, Enzymes for Industrial Applications (BIO030E) from BCC Research (www.bccresearch.com), the global market for industrial enzymes will be worth $2.3 billion in 2007. This is expected to increase to over $2.7 billion by 2012, a compound average annual growth rate (CAGR) of 4%.

The market is broken down into applications of technical, food and animal feed enzymes. Of these, technical enzymes have over 50% of the market. Valued at nearly $1.1 billion in 2007, this segment is expected to be worth $1.4 billion by 2012, a CAGR of 3.5%.

The animal feed enzyme segment is currently worth $280 million and will be worth $375 million in 2012, a CAGR of 4%. The higher growth in this sector will be helped in part by the increased use of phytase enzymes to fight phosphate pollution.

Global enzymes market based on application sectors ($millions)

Application sector

2005

2006

2007

2012

CAGR%

2007-2012

Technical Enzymes

1,075

1,105

1,140

1,355

3.5

Food Enzymes

775

800

830

1,010

4.0

Animal Feed Enzymes

240

260

280

375

6.0

Total

2,090

2,165

2,250

2,740

4.0


Related website:
BCC Research

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