Industrial enzymes market estimated to grow to US$6 billion
A new market research by MarketReseach.com estimates the global market for industrial enzymes to grow at a compounded annual growth rate (CAGR) of 9.1% to reach $6 billion by 2016.
The global market for industrial enzymes was valued at $3.1 billion in 2009 and reached about $3.6 billion in 2010. The estimated market for 2011 is about $3.9 billion.
Food and beverage enzymes comprise the largest segment of the industrial enzymes industry with revenues of nearly $1.2 billion in 2010. This market is expected to reach $1.3 billion by 2011 and further it will grow to $2.1 billion by 2016, a CAGR of 10.4%.
The second-largest category is technical enzymes with revenues of about $1.1 billion in 2010 and nearly $1.2 billion in 2011. This market is further expected to grow to $1.7 billion by 2016, a CAGR of 8.2%.
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