INDUSTRIAL ENZYMES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market News

Recent Development:

• In December 2022, Novozymes, a notable biotech entity, announced a significant merger with Chr. Hansen, a Denmark based powerhouse in the fields of agriculture, pharmaceutical, and food ingredients. This move is witnessed as a tactical strategy by Novozymes to bolster its market presence. Novozymes A/S is a global biotechnology company headquartered in Bagsværd, outside of Copenhagen, Denmark. The company's focus is the research, development, and production of industrial enzymes, microorganisms, and biopharmaceutical ingredients.
• In August 2022, BASF SE made a strategic decision to sell its baking enzymes division, BASF Nutrilife, to Lallemand Inc., a renowned enzyme manufacturing firm. This acquisition enriches Lallemand Inc,'s diverse offerings, including its specialized yeast and bacterial technology platforms. BASF SE is a global chemical company headquartered in Ludwigshafen, Germany, with a significant presence in North America through its affiliate, BASF Corporation, based in Florham Park, New Jersey. The company operates in various segments, including Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions.
• In November 2021, Novozymes joined forces with Novo Nordisk Pharmatech. Their joint venture focuses on the creation of superior technical enzymes, aiming to enhance production in the biopharmaceutical sector. This partnership is anticipated to significantly aid Novozymes in expanding its capabilities in the burgeoning field of regenerative medicine. Novozymes is a global biotechnology company headquartered in Bagsværd, outside of Copenhagen, Denmark. The company's focus is the research, development and production of industrial enzymes, microorganisms, and biopharmaceutical ingredients. Novo Nordisk Pharmatech A/S is a leading global supplier of high-quality ingredients for the biopharmaceutical and pharmaceutical industries. The company is specialized in producing quaternary ammonium compounds (Quats) used as active and recombinant insulin for use in cell culture media to enhance cell growth, viability, and productivity.