Global enzyme market to hit $2.7b in 2012
According to a new technical market research report, Enzymes for Industrial Applications (BIO030E) from BCC Research (www.bccresearch.com), the global market for industrial enzymes will be worth $2.3 billion in 2007. This is expected to increase to over $2.7 billion by 2012, a compound average annual growth rate (CAGR) of 4%.
The market is broken down into applications of
technical, food and animal feed enzymes. Of these, technical enzymes have over
50% of the market. Valued at nearly $1.1 billion in 2007, this segment is
expected to be worth $1.4 billion by 2012, a CAGR of 3.5%.
The animal feed
enzyme segment is currently worth $280 million and will be worth $375 million in
2012, a CAGR of 4%. The higher growth in this sector will be helped in part by
the increased use of phytase enzymes to fight phosphate pollution.
Global enzymes market | |||||
Application | 2005 | 2006 | 2007 | 2012 | CAGR% 2007-2012 |
Technical Enzymes | 1,075 | 1,105 | 1,140 | 1,355 | 3.5 |
Food Enzymes | 775 | 800 | 830 | 1,010 | 4.0 |
Animal Feed Enzymes | 240 | 260 | 280 | 375 | 6.0 |
Total | 2,090 | 2,165 | 2,250 | 2,740 | 4.0 |
Related website:
BCC Research
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