Press Release Summary = US demand to rise over 6% annually through 2010
US demand for enzymes is forecast to rise over six percent per year to nearly $2 billion in 2010, bolstered by strong gains in important markets such as pharmaceuticals, animal feed and starch processing.
Press Release Body = Enzymes industry forecasts to 2010 & 2015
US demand to rise over 6% annually through 2010
US demand for enzymes is forecast to rise over six percent per year to nearly $2 billion in 2010, bolstered by strong gains in important markets such as pharmaceuticals, animal feed and starch processing. Other significant markets such as diagnostics, research and biotechnology, and food and beverages will also experience healthy growth, although a challenging environment in the detergent industry will limit even faster advances. Rapid developments in biotechnology over the past decade have enabled advanced discovery, optimization and manufacturing techniques that are driving development across all aspects of the enzyme industry. New, more efficient and high-value enzyme products are creating a variety of opportunities, even in more mature, established markets such as detergents.
Pharmaceuticals to remain largest market, animal feed fastest growing
Pharmaceuticals will remain the largest enzyme market, due principally to the rapid expansion of the orphan drug market for treating lysosomal storage disorders. However, new advances in cardiovascular thrombolytics, as well as other new treatments, will also support strong gains.
Growth in the starch processing market will continue to accelerate as the rapid expansion of the ethanol industry overshadows and offsets weakness in sweetener production. In the longer term, however, demand growth is expected
to moderate as capacity in the ethanol industry surpasses the congressionally mandated minimums.
Animal feed additives will be the fastest growing market, though the pace will slow from the rapid double digit pace of the past decade as the market matures. Increased interest by the Environmental Protection Agency in chemical emissions from the agricultural industry will help growth in phytase demand eclipse that of other animal feed enzymes as farmers seek ways to reduce phosphate run-off from animal waste.
An aging population will help drive near average gains in the diagnostic market, while ongoing research into biologically-derived pharmaceuticals and biocatalysts will support healthy advances in the research and biotechnology market. Food
and beverage enzyme demand will also be strong, supported by the development of new applications, and ongoing strength in dairy and bakery products. In the mature detergent industry, fluctuating raw material prices will limit gains as detergent
manufacturers alter formulations to hold down costs, and demand price cuts from their enzyme suppliers.
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2022
