Alcohol enzymes are found in different organisms. This simplifies inter alteration amidst alcohols and aldehydes. It also includes the reduction of nicotinamide adenine dinucleotide. Alcohol enzymes are used as catalysts in processes, such as conversion of complex particles in various metabolic reactions and some others.
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Increasing applications of alcohol enzymes in consumer industries, including bio-fuels, cleaning agents, food & beverages, pharmaceuticals, biotechnology and animal feed are anticipated to drive demand for the market over the coming years. This market is experiencing rapid expansion and is expected to grow at around 8 percent CAGR by 2018.
The key factors driving the alcohol enzymes market are technological improvements, increasing health concerns and growing disposable incomes. Augmented use of cosmetics is also likely to propel the alcohol enzymes market further.
The market segmentation of alcohol enzymes includes types, applications and geographies. The alcohol enzymes market, on the basis of types, can be sliced into lipases, proteases and carbohydrates.
The applications market can be split into specialty applications and industrial applications. Specialty applications include bio-catalysts, pharmaceuticals and research and biotechnology. Industrial applications consist of bio-fuel production, cleaning agents and food & beverages.
Globally, North America was the largest consumer of the alcohol enzymes market. It was followed by Europe. This is due to introduction of new drugs and huge technology transformations.
Asia Pacific is expected to be the fastest growing region for alcohol enzymes market. This is due to the improving pharmaceuticals industries and rapid industrialization in its developing countries, including China, Japan and India.
Information Source: Grand View Research