Market Analysis and GC3
The enzyme industry has experienced significant growth during the last decade due to the global, growing demand for cleaner and greener technology to preserve the environment.
According to BCC Research, the global market for industrial enzymes is expected to grow from nearly $5.0 billion in 2016 to $6.3 billion in 2021, demonstrating a five-year compound annual growth rate (CAGR) of 4.7%. As a segment, food industrial enzymes should approach $1.5 billion and $1.9 billion in 2016 and 2021, respectively, growing at a five-year CAGR of 4.7%. Animal feed industrial enzymes, as a segment, is forecast to total $1.2 billion and nearly $1.6 billion in 2016 and 2021, respectively, reflecting a five-year CAGR of 5.2%. This market segment is expected to rise due to higher investments in renewable sources of energy and increased demand for animal feed products.
The GC3 commissioned this research from Environmental & Public Health Consulting to support its efforts to mainstream green chemistry by understanding barriers and opportunities to accelerating green chemistry adoption across supply chains. Metrics play a critical role in understanding if green chemistry design, policy, business, or educational efforts are leading us towards desired outcomes. The purpose of this Green Chemistry & Commerce Council (GC3) report is to identify and characterize metrics that can be used to measure progress in green chemistry.