Protease Market At a 5.4% CAGR Projected Expansion to $5,762.7 Million Market Value by 2030
The use of nanotechnology for synthesis of active pharmaceutical ingredients (APIs) is one of the most recent advances in drug development. Recent trends in medicine and nanotechnology have facilitated enhancement of protease-sensitive nanomaterial systems for diagnostic, therapeutic, as well as theragnostic applications.
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Protease is a biocatalyst that can alter the reaction rate and produce desired results in biological reactions. Proteases are proteinaceous in nature and have gathered a special attention in recent years, owing to their wide applications. Protease can be employed in food and animal feed, textiles & detergents, pharmaceuticals and biotechnology R&D, manufacturing industries, and others (paper & pulp processing, leather processing and agriculture).
Demand for protease in the soap & detergents industry is high, owing to its higher use in production of laundry detergents. Furthermore, the demand for protease is growing rapidly in the pharmaceuticals industry, owing to its therapeutic benefits. Protease is also used in the food processing industry for adding texture, flavor, protein, and extending shelf life of food. Furthermore, brewing of beer, wines, and fruit juices is another factor that has led to rise in demand of protease enzymes across the globe. Growth in applications of protease enzymes across different end use verticals has led to the global protease market growth.
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Region wise, Asia-Pacific is projected to be the fastest-growing market. Presence of huge population, rise in disposable income, growth in awareness regarding cleanliness, and rise in burden of diseases are the prominent factors that are expected to fuel demand for detergents and various pharmaceutical drugs in the region. This is expected to surge demand for protease in the manufacturing of detergents and medicines. Furthermore, rise in demand for foods & beverages in the region is further expected to boost growth of the protease market in the future.
Key market players operating in the protease industry are constantly involved in various developmental strategies such as new product launches, partnerships, and acquisition & mergers to gain competitive advantage over others and exploit the prevailing protease market opportunities. Key players profiled in this report include Advanced Enzyme Technologies, Amano Enzyme, Inc., Associated British Foods Plc, BASF SE, Biocatalysts Ltd., Dyadic International, Inc., E.I. Du Pont De Nemours and Company, Koninklijke DSM N.V., Novozymes A/S, and Specialty Enzymes & Probiotics.
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