Global Fungal Enzymes Market: Introduction
The primary enzymes including protease, cellulase, xylanase, lipase, amylase, and phytase can be produced by different genera of fungal strains of Aspergillus, Rhizopus, and Penicilium. Utilization of new and emerging fungal enzymes in industrial production will present new occupational exposures. Industrial fungal enzymes are high molecular weight proteins that act as catalysts. Fungal enzymes from A. niger are used in powdered form with other enzyme extracts by pharmacists to prepare digestive powders.
Key Drivers of Global Fungal Enzymes Market
Increase in Demand for Enzymes in Food & Beverage Industry
Enzymes or microorganisms have been used in food preparations for years. Advancement of technology has led to the development of novel enzymes with a range of applications and specificity, and new application areas are being explored. Microbial enzymes are the preferred source to plant or animal enzymes due to several advantages such as easy, cost-effective, and consistent production. Microbial enzymes play a major role in the food industry because these are more stable than plant and animal enzymes. Enzymes such as proteases, lipases, or xylanases have a range of applications in the food industry. Applications of α-amylases in the food industry include baking, brewing, starch liquefaction, as well as a digestive aid. The α-amylases are used as glazing agent for the production of rice cakes and powdery foods. Glucoamylases are utilized in the food industry for the production of high-glucose and high-fructose syrups.
Increase in Industrial Fungal Enzymes
According to the European Commission, scientists in Europe studied novel enzymes of industrial interest in lignocellulose-degrading fungal species. These enzymes are more cost-effective and environmentally-friendly solutions for a number of industrial applications. Filamentous fungi are the preferred source of industrial enzymes because of the excellent capacity for extracellular protein production. Fungi have been and continue to be an important source of enzymes, both in terms of their role as a source for biological diversity and as a host for production of industrial enzyme products. Industrial fungal enzymes are high molecular weight proteins that are catalysts.
North America to Account for Major Share of Global Fungal Enzymes Market
- North America is projected to account for major share of the global fungal enzymes market during the forecast period. The market in the region is anticipated to grow at a rapid pace in the next few years due to increase in research & development and technologically advanced products being introduced in the market. Europe is expected to be the second largest market during the forecast period owing to advanced facilities provided by the hospital infrastructure in the region.
- The fungal enzymes market in Asia Pacific is likely to expand at a high CAGR during the forecast period owing to the dense population and high birthrate
Key Players Operating in Global Fungal Enzymes Market
The global fungal enzymes market is highly consolidated owing to the presence of several key players. Leading players operating in the global fungal enzymes market include:
- Novozymes A/S
- Chr. Hansen
- Advanced Enzymes
- AB Enzymes
Global Fungal Enzymes Market: Research Scope
Global Fungal Enzymes Market, by Type
Global Fungal Enzymes Market, by Application
- Food & Beverage
- Pharmaceutical & Biomedicine
- Feed Nutrition
Global Fungal Enzymes Market, by Basis of Formulation
- Lyophilized Powder
- Others (gel and granular forms)
Global Fungal Enzymes Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.