Protease Market Expected to Reach $5,762.7 Million | North America was the highest revenue contributor

The use of nanotechnology for synthesis of active pharmaceutical ingredients (APIs) is one of the most recent advances in drug development

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATES, February 15, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Protease Market by Source and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030” the global protease market size was valued at $3,454.3 million in 2020, and is projected to reach $5,762.7 million by 2030, registering a CAGR of 5.4% from 2021 to 2030.

Key Players:-

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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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.

Rise in preference for healthy and nutritional food significantly boosts adoption of the protease enzymes in the foods & beverages industry. Sedentary lifestyle of consumers and busy schedules have led to rise in demand for nutritional diet. Protease helps to breakdown protein and helps in improving digestibility. It is beneficial for gut health and relieves inflammation, which is a significant factor behind extensive usage of proteases in foods & beverages.

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According to the protease market analysis, the global protease market is segmented on the basis of source, application, and region. By source, the market is categorized into plants, animals, and microbes. On the basis of application, it is segmented into foods & beverages, pharmaceuticals, animal feed, soap & detergents, and others. Region wise, the protease market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

On the basis of source, the global protease market was dominated by the microbes segment in 2020. This is attributed to rise in production of protease from microbes. Production of protease at industrial level is possible by using microbial sources and huge level production helps in meeting the demand for proteases across various industries. Higher yield, cost-effectiveness, easy gene manipulation, and less time consumption are some of the most unique features of microbial proteases that makes them perfectly suitable for various applications.

On the basis of application, the protease market was dominated by the soap & detergents segment, which garnered about 43.3% of the market share in 2020. Stain removal property of protease has made its useful in production of detergents. Growth in health consciousness and rise in consumer awareness regarding hygiene and cleanliness is expected to fuel demand for soaps & detergents, which fuel growth of the protease market.

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.

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Key findings of the study

>The global protease market size was valued at $3,454.3 million in 2020, and is projected to reach $5,762.7 million by 2030, registering a CAGR of 5.4% from 2021 to 2030.
>By source, the microbes segment was the highest contributor to the market, with $2,161.1 million in 2020, and is estimated to reach $3,496.5 million by 2030, at a CAGR of 5.1% during the forecast period.
>By application, the soap & detergents segment was the highest contributor to the market, with $1,495.1 million in 2020, and is estimated to reach $2,358.0 million by 2030, at a CAGR of 4.8% during the forecast period.
>By region, North America was the highest revenue contributor, accounting for $1,229.0 million in 2020, and is estimated to reach $1,916.7 million by 2030, with a CAGR of 4.7%.

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David Correa
Allied Analytics LLP
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