Enzyme market slows down, nutrients pick up

- Last updated on GMT

Related tags: Bacteria

Environmental biotechnology has been used by humans for centuries
in food making, medicine, fermentation and waste treatment.
According to a new study, today the market for microbial blends and
nutrients is gaining in strength.

Environmental biotechnology has been used by humans for centuries in food making, medicine, fermentation and waste treatment. According to a new study, today the market for enzymes, microbial blends and nutrients is gaining in strength.

The science continues to be very simple: bacteria and other micro-organisms are able to naturally degrade a variety of substances as food sources in order to multiply.

According to a recent study from the Business Communications Company, total worldwide sales of environmental biotechnology products (micro-organisms, enzymes, microbial blends, and nutrients) for US manufacturers are currently estimated at $103.5 million (€117.9m). The market is expected to grow at an AAGR (average annual growth rate) of 8.3 per cent to reach $153.87 million by 2006.

Microbe blends are expected to see the largest increase in sales with sales of $47.61 million increasing to $74.55 million by 2006 at an AAGR of 9.4 per cent. Nutrients are the second fastest growing and second largest market with an AAGR of 8.8 per cent and current sales estimated at $24.83 million.

Enzymes and micro-organisms are predicted to keep a slower growth pace since these products represent more limited market potential. Enzymes should maintain an AAGR of 7.4 per cent with current product sales of $20.71 million and reaching $29.56 million by 2006. Micro-organisms will achieve an increase in sales by only 2.9 per cent AAGR (with current sales of $10.35 million and growing to $11.93 million by 2006) reflected in the increase in microbe blend product sales and the use of isolated enzymes as alternatives to some microbial species.

The report stresses that forecasted product sales are clearly affected by forces in the economy, technological developments, competition and regulations. Except for any unseen changes in the current climate in regard to these factors, environmental biotechnology products will, according to the report, have a huge growth potential.

Related topics: Suppliers

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