Protease enzymes begin the process of protein catabolism through hydrolysis of peptide bonds. These enzymes are available in animals, plants, archaea, bacteria, and viruses. Protein hydrolysis enzymes market is gaining strength from the growing range of applications of these products. These are a group of enzymes with a large array of applications across pharmaceuticals, detergent, food and such other industries. Rising adoption of these advanced enzymes is expected to be the major driver for this industry. As a result, businesses from around the world are also showing similar interest in terms of investments, global expansions, mergers and global partnerships.
Segments and Drivers in Protease Market
The global protein hydrolysis enzymes market is segmented on the basis of the types of products, their applications and demand recorded across different geographic regions of the world. Based on the types, the industry is segmented into microorganisms, plants and animals. Applications of protease enzymes include in the industries like soaps and detergents, foods and pharmaceuticals. Based on geographic regions, the market is categorized into North America, Asia Pacific, Europe and the rest of the world. Innovative applications create better opportunities for growth and revenue in this industry.
The basic function of the protease enzymes is to break down the proteins, which makes them vital across various industrial verticals. Detergents and pharmaceutical industries have versatile applications of these products. Innovative advancements in the industry are also expected to dominate growth in the protein hydrolysis enzymes market on global scale. According to the latest research reports, the global market is poised to grow at a CAGR of over 5%. The industry is expected to maintain is compound annual growth rate during the forecasting period of the next four to five years.
From 2014 to 2019, the protease enzymes market will grow at an anticipated CAGR of over 5% to become worth more than $2,767 million by the end of the year 2019. Developed regions like North America and Western Europe have already reached maturity, which is expected to create better opportunities for the developing regions and emerging markets like Asia Pacific, Latin America, Africa and Middle East. Growth in the innovative application segments including leather treatment and biomedication are expected to contribute to the current growth rate of the industry.
New investments and revenue channels from emerging markets are expected to help the global protein hydrolysis enzymes market at a healthy CAGR, which is a good sign for the existing industry players. Technological advancements on the other hand are driving new investors towards this industry.