(I-BusinessNews.Com, June 19, 2021 ) Alcohol and Starch or Sugar Enzyme Market size in 2020 is estimated to be $2.5 billion, growing at a CAGR of 7.3% during the forecast period 2021-2026. Alcohol and starch/sugar enzymes are highly-selective catalysts that function in metabolic reactions and in the inter conversion of complex molecules to smaller ones. They play a vital role in accelerating chemical processes as well as ensuring yield optimization. Rising demand of alcohol, sugar, and starch from food & beverage industry and rising consumption of alcoholic beverages are the major factors driving the growth of the market. Moreover, increasing technological development and advancement of R&D activities further enhance the overall market demand for alcohol and starch or sugar enzyme during the forecast period 2021-2026.
Alcohol and Starch or Sugar Enzyme Market Segment Analysis – By Enzyme Type
Based on the Enzyme Type, Alcohol and Starch or Sugar Enzyme Market is segmented into Carbohydrases, Proteases, Lipases, Others. The Carbohydrases segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 6.9% during the forecast period 2021-2026. Carbohydrases has wide application in industrial processes and products, mainly in the food and beverage industry. Moreover, it helps to obtain different types of sugar syrups which are contributing to the growth of this segment.
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Alcohol and Starch or Sugar Enzyme Market Segment Analysis – By Application
Based on the Application, Alcohol and Starch or Sugar Enzyme Market is segmented into Food and Beverages, Pharmaceuticals, Cleaning Agents, Bio-Fuel Production, Others. In 2020, food and beverage held the largest share in the Alcohol and Starch or Sugar Enzyme Market. This is mainly owing to increasing demand for alcohol, sugar, and starch enzymes from food & beverage industry for fermentation of food products are contributing to the growth of this segment.
Alcohol and Starch or Sugar Enzyme Market Segment Analysis – By Geography
North America dominated the Market share accounting for 39.46% of the market in 2020. This is mainly owing to extensive pharmaceuticals production and biotechnological research in the region and increasing demand for starch/sugar enzymes owing to the introduction of new drugs used in enzyme replacement therapy.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2021-2026. This is owing to rapid industrialization and development in infrastructure as well as co-operation from local governments.
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Alcohol and Starch or Sugar Enzyme Market Drivers
Rising Demand of Alcohol, Sugar, and Starch from Food and Beverage Industry
Rising demand for alcohol, sugar, and starch enzymes from food & beverage industry for fermentation of food products are some factor driving the market growth of this segment. Moreover, alcohol, sugar, and starch enzymes are extensively used for manufacture of animal feed, bioethanol, and others which are increasing the market growth of alcohol and starch or sugar enzyme.
Rising Consumption of Alcoholic Beverages
Rising consumption of alcoholic beverages is a significant factor driving the growth of the market. According to World Health Organization, about 6.4 litres of alcohol are consumed by per person which increases the demand and are contributing to the growth of Alcohol and Starch or Sugar Enzyme Market.
Alcohol and Starch or Sugar Enzyme Market Challenges
Stringent government regulations in food and beverage industry are challenging the growth of the market Moreover, restricted temperature and pH operational range of many enzymes are further restraining its market growth during the forecast period 2021-2026.
During COVID-19 Pandemic, there is a worldwide shutdown of breweries shops, supermarkets that have largely affected the supply of the breweries or alcohols which reduced the sales of liquor. However, the COVID-19 pandemic has led to the declination in the consumption and the production owing to shut down and social distancing actions.
Alcohol and Starch or Sugar Enzyme Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Alcohol and Starch or Sugar Enzyme Market. Alcohol and Starch or Sugar Enzyme top 10 companies are ABF PLC, Advanced Enzyme Technology Ltd., Amano Enzyme Inc., Codexis Inc., Dupont DE Nemours and Co. (Dupont) Msds., Dyadic International Inc., Lesaffre, NovozymesA/S, Roquette Freres, and The Soufflet Group.
Acquisitions/Product Launches:
On 22 June 2020, Novozymes launched two new enzymes that enable food manufacturers to produce tasty, label-friendly meat alternatives with less salt.
Key Takeaways
In 2020, North America dominates the Alcohol and Starch or Sugar Enzyme Market owing to extensive pharmaceuticals production and biotechnological research in the region.
Rising demand of alcohol, sugar, and starch from food & beverage industry and rising consumption of alcoholic beverages is driving the market growth of alcohol and starch or sugar enzyme.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Alcohol and Starch or Sugar Enzyme Market report.
Stringent government regulations in food and beverage industry are challenging the growth of the market.
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