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Due to their versatile applications, alcohol enzymes are in great demand to suffice the tremendous requirement for industrial products from consumers.
According to Global Trends & Forecasts, the alcohol and starch/sugar enzyme market is projected to be worth $2,238.4 million by 2018 and is expected to grow at a CAGR of 7.9 percent from 2013 to 2018.
Asia-Pacific is projected to be the fastest-growing market for alcohol and starch/sugar enzymes. The APAC region is witnessing a steady demand for alcohol and starch/sugar enzymes due to the expansion strategies of global industrial and pharmaceutical companies situated in this region.
Rapid industrialization and development in infrastructure as well as co-operation from local governments has driven the market for alcohol and starch/sugar enzymes in the Asia-Pacific region.
The US wine market is the world's second largest markets, which is estimated to increase the demand of alcohol enzymes to process wine. The US is the most important contributor for the growth of starch/sugar enzymes market in North America.
Extensive investments are made in research and development to develop advanced products so that the maximum market share can be occupied by introducing new and improved products to suffice the customers' demands.
The market for alcohol and starch/sugar enzymes is anticipated to generate significant amounts of revenues considering the rise in demand for food and beverages, biofuels, cleaning agents, pharmaceuticals, biocatalysts, along with research and biotechnology products.
The US is a key market in the North American region for alcohol and starch/sugar enzymes due to extensive pharmaceuticals production and research & biotechnology applications.
Massive investments in research and development for new products drive the demand for alcohol and starch or sugar enzymes, tremendously.
