Global Enzyme Demand to Reach $8 Billion in 2015
According to a study from The Freedonia Group, Inc., the demand for world enzymes will rise 6.8 percent per year to $8 billion in 2015, reflecting a continued rebound in the world economy from the 2009 global downturn. Almost all markets will achieve growth rates over five percent per year, but the cleaning products market will realize the strongest growth, say study results.
New cleaning product enzymes will continue to be launched in developed countries, and greater market penetration is achieved in developing countries. Biofuel production enzyme demand, however, will moderate significantly.
While the increased use of enzymes in biodiesel and sugar cane-based ethanol production will support growth, the lack of new legislative mandates for grain-based ethanol will limit increases in the near term. Additionally, though the development of second generation biofuels derived from cellulosic raw materials will help sustain demand growth over the long term, a variety of processes — including some that do not use enzymes — will be employed, restraining advances.
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