Proteases Market

Proteases Market - An Overview

The global proteases market is expected to witness strong growth during the forecast period between 2021 and 2031.

Proteases are biological products that help decompose bonds within proteins. Proteases can be easily removed from animals and plants based on their physical and chemical conditions.

The outbreak of the COVID-19 pandemic negatively impacted growth in global proteases market. Increasing number of cases worldwide led to governments imposing strict social distancing regulations and lockdowns in a bid to contain the spread of the virus.

This led to temporary or permanent shutting down of food manufacturing units which lowered the sales and demand for proteases and in turn, affected the market growth.

However, with most population sections vaccinated twice and approval given to the use of third booster dose, it is expected that food production units will resume operations at close to full capacity soon, which could increase the proteases demand and fuel market growth.

Proteases Market - Trends and Opportunities

Increasing demand from food and beverages industry is the key growth driver of global proteases market.

Also, rising proteases demand in production of seafood and processed food products could help create revenue-generating opportunities for prominent players in overall market, in the coming years.

In addition to this, growing consumption of bakery products among different consumer sections could trigger the growth in overall proteases market, in the coming years.

Other factors such as rapid urbanization, especially in developing economies, as well as rising disposable income could also contribute to growth in global proteases market, in future.

Renin type segment is expected to emerge as largest revenue contributor to overall proteases market because of increasing product demand from food and beverages industry in prominent countries worldwide.

Bakery food product application segment is anticipated to emerge as largest contributor, in terms of revenue, to overall proteases market owing to increasing demand in bakery products manufacturing units to stabilize food products in prominent countries worldwide.

Proteases Market - Competitive Landscape

The global proteases market is competitive, with the presence of numerous leading players. Many of these players have become successful owing to years of delivering consistent results and are expected to hold a large share in global market, in the coming years.

It is anticipated that the entry of new players could further intensify the competition in proteases market, in years to come.

New product launches could help prominent proteases market players in gaining an edge over other market players and in creating revenue-generating opportunities, in future.

Research and development undertakings could be key, revenue-generating growth strategy for leading market players, in the coming years.

Other strategies such as signing of collaborative agreements with smaller players could help prominent proteases market players in expanding their presence in global market and increasing their revenue shares.

Few leading players in global market include Novozymes A/S, Biocatalysts Limited, Dyadic International Incorporated, Advanced Enzyme Technologies Ltd, Koninklijke DSM N.V., and Associated British Foods PLC.

Proteases Market - Regional Assessment

The global proteases market is classified into four regions, namely, North America, Asia Pacific, Europe, and rest of the world.

Asia Pacific is expected to offer maximum revenue-generating opportunities for players in global proteases market because of increasing demand for processed food products as well as soaps and detergents in countries such as India and China.

North America is anticipated to witness significant growth in global proteases market owing to rising demand for gluten-free products, as well as growing prevalence of veganism in countries such as the U.S. and Canada.

Europe is projected to witness strong growth in overall proteases market because of increasing consumer demand for alcoholic beverages in countries such as the U.K. and Germany.

The rest of the world is expected to witness moderate growth in global market, in the coming years.