Big Market Research provides ‘Global Alcohol Enzymes, 2020 Market Report’, which is a professional and in-depth study on the current state of the Alcohol Enzymes Market.
The global alcohol enzyme market was valued at $553.1 million in 2019, and is projected to reach $804.6 million by 2027, registering a CAGR of 4.9% from 2020 to 2027.
The report provides brief summary and detailed insights of the market by collecting data from the industry experts and several prevalent in the market. Besides this, the report offers a detailed analysis of geographical areas and describes the competitive scenario to assist investor, prominent players, and new entrants to obtain a major share of the global Alcohol Enzymes market.
Our analysis involves the study of the market taking into consideration the impact of the COVID-19 pandemic. Please get in touch with us to get your hands on an exhaustive coverage of the impact of the current situation on the market.
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The major companies profiled in this report include Advanced Enzyme Technologies, Associated British Foods Plc, BASF SE, Biotechnology Research and Information Network AG, Creative Enzymes, DSM Royal, DuPont, Kerry Group Plc, Laffort, and Novozymes.
IMPACT OF COVID-19 ON THE GLOBAL ALCOHOL ENZYMES MARKET
• The outbreak of coronavirus across the whole world has led to the shutdown of businesses and industries for uncertain periods of time.
• Due to the lockdown and travel restrictions as well as logistics constraints, the supply chain of both the enzyme production as well as alcohol production was impacted. This led to a huge supply-demand gap.
• The biofuels industry has been hit hard by the sharp decline in fuel demand due to the coronavirus outbreak.
• Development of enzymes is a continuous process and takes long time. The pandemic halted the development phase of new enzymes, which may delay its commercial release.
• Financial turbulence in the leading economies may delay commissioning of new biofuel facilities
• The retail sector has taken a significant hit with supermarkets, malls and theatres being closed.
• On the positive side, there was a demand for medicinal drugs, which led to increased demand for enzyme formulated for the healthcare system
Key market segments
• Food & Beverage
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On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The report clearly shows that the Alcohol Enzymes industry has achieved remarkable progress since 2027 with numerous significant developments boosting the growth of the market. This report is prepared based on a detailed assessment of the industry by experts. To conclude, stakeholders, investors, product managers, marketing executives, and other experts in search of factual data on supply, demand, and future predictions would find the report valuable.
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