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Global enzyme market to hit $2.7b in 2012

06-12-2007 | |

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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