The North American Protease market was valued at $0.9 billion in 2013, to grow at 5.2% annually. It is projected to reach $1.2 billion by the end of 2018.
(PRWEB) May 20, 2014
The demand for the protease enzyme and lecithin is being driven by an increase in industrial growth and consumption of processed foods. The North American protease market demand by value is expected to grow with a CAGR of 5.5% from 2014 to 2019. The detergent industry holds a majority of the market share of the North American protease enzymes market in terms of value as well as volume. In view of the recent trend of developing environmentally friendly technologies, proteases are envisaged to have extensive applications in leather treatment and in several bioremediation processes. The pharmaceuticals application is estimated to be the fastest-growing application, with a CAGR of 6.4% through 2019.The U.S is the dominant market in North America, while Canada is estimated to be the fastest-growing market.
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Proteases are a single class of enzymes which occupy a pivotal position in the industrial enzyme demand. Protease enzymes find an application in diverse end-use markets, such as detergents, pharmaceuticals, food, and other industries such as textile, animal feed, chemical, and photography. Lecithin is a natural emulsifier which is majorly used in food and feed applications. Lecithin and protease enzymes are widely used in a variety of industrial applications as per their chemical characteristics and functionalities. For lecithin, nutrition and supplements is the fastest-growing application, whereas the pharmaceutical industry is the fastest-growing application for protease enzymes. The increasing health awareness of consumers is driving the end use application growth for lecithin and protease.
Asia Pacific Protease Market:
The Asia-Pacific protease market demand by value is expected to grow with a CAGR of 5.9% from 2014 to 2019. The protease market is driven by factors such as clean labeling, replacement of chemicals and additives, more demand for environment-friendly ingredients, less production cost, high yield, and less time taken in production. Due to the growing prominence of industrial growth in the APAC region, the demand for protease is estimated to be robust. In 2014, China is the dominant country, holding a market share of 51.7%. The increase in demand for protease in Indiawill result in it registering the highest growth rate in the Asia-Pacific region.
North American Lecithin Market:
The North American lecithin market demand by volume is expected to grow with a CAGR of 3.3% from 2014 to 2019. This growth is due to the easy availability of raw materials and increasing adoption of lecithin as natural emulsifiers by endusers. Lecithin is majorly used in food applications for increasing the texture and appeal of the end product by enabling proper emulsification. The U.S. dominates the country-level market, while Mexico is the fastest-growing country in this region.
European Lecithin Market:
The European lecithin market demand by volume is expected to grow with a CAGR of 2.2% from 2014 to 2019. The bakery segment is the dominant food application for lecithin usage. The high penetration level of bakery products and lecithin usage in the food industry is the prime reason for such a meager growth.The demand for non-GM soy lecithin is experiencing an upward trend due to the increasing level of consumer hesitation towards the use of GM soy lecithin.Nutrition and supplements are the fastest-growing application of lecithin. France and Germany account for a key share in the European lecithin market. Eastern European countries are poised to exhibit the fastest growth due to better economic growth prospects.
Asia Pacific Lecithin Market:
Asia Pacific is the fastest-growing region when it comes to lecithin market demand. The lecithin demand is expected to grow with a CAGR of 10.7% in value during 2014-2019. An increase in processed and convenience food production, coupled withgrowth in other end use industries such as feed and industrial, drive the demand for lecithin in the Asia-Pacific region. The Asia-Pacific region offers great opportunities to manufacturers and suppliers of lecithin owing to the cost advantage and soaring demand. China is the dominant market, while India is poised to exhibit the fastest growth.
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