(I-BusinessNews.Com, March 28, 2020 ) The report “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 defines and segments the proteases market on the basis of various sources, applications, methods of production, formulations, products, and regions, with analyses and projections of the market size of each of these segments in terms of value. The growing urbanization coupled with industrialization, adoption of advanced technology in production, reduction in feed costs & improved nutritional value of poultry meal, and producer’s concern over cost efficiency are the factors driving the demand of proteases.
Based on applications, the market is segmented into food & beverages, livestock feed, soaps & detergent, pharmaceuticals, and other applications. Soaps & detergents dominated the proteases market as proteases is cost-effective and safe to use. The changing cleaning habits, development of technology such as protein engineering to produce high performing products, and growing environmental concern are driving the market for proteases use in the soaps and detergents industry.
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Based on the methods of production, the market is segmented into fermentation and extraction. Fermentation dominated the proteases market due to producer’s reliance on microbial sources and economic efficiency involved as the process is time and cost saving.
The market is also segmented on the basis of formulations into liquid, lyophilized powder, and others. Lyophilized powder dominated the global market in terms of formulation due to its functional properties as it increases the shelf life of the product and also due to the development & advancement of technology such as encapsulation.
On the basis of products, renin dominated the animal product segment for proteases owing to its physiological benefits and its major use in the food & beverages industry such as cheese making. Papain dominated the plant product segment of proteases due to its health benefits such as boosting digestion, supporting the immune system, acting as an antioxidant, and others, along with its functional properties such as relatively heat-resistant enzyme makes it more preferable. Alkaline is the largest microbial product in the proteases market owing to its functional properties as it is more stable at high temperatures and it also finds its application majorly in the soaps and detergent industry which is the largest industry for enzyme application.
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America dominated the global market due to the developed industries in this region. Asia-Pacific is the fastest growing region in the proteases market due to continuous increase in demand for proteases owing to the economic and operational benefits from proteases along with increasing industrialization, ease of doing business, and broad application spectrum.
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The proteases market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted expansions and investments as their preferred growth strategy. Key players such as 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), Novozymes A/S (Denmark), 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.). have been profiled in the report.
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