In 2022, it’s expected that the glucose oxidase market will be worth US$ 6543.7621 million. A huge development opportunity exists in this market as a result of rising demand from various sectors. Thus, it is anticipated that by 2032, this market will have a market value of US$ 12043.46827 million. This market is anticipated to expand at a CAGR of 6.4% from 2022 to 2032, up from 6.3% previously (2017-2021).
Glucose oxidase is an enzyme generated mostly by Aspergillus and Penicillium that works as a catalysing agent for glucose oxidation. Its applications are numerous, however it is most commonly used in the food and beverage and healthcare industries.
Enzymes are not just used in the healthcare and food and beverage industries, contrary to popular assumption. The industrial sector has also welcomed the use of enzymes in a variety of applications. Most people are unaware that enzymes are used by us in some way. Enzymes are frequently utilised in the paper and pulp, textile, and food and beverage sectors. Previously, the use of enzymes was not as common. However, with more research into amino acid patterns, it was possible to isolate enzymes for usage in a variety of applications. Chemical reactions can be replaced by enzymatic processes. Glucose oxidase is one of the most commonly used enzymes.
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Glucose oxidase Market- Market Dynamics:
Glucose oxidase is used in biosensors which makes glucose measurement fast, easy and cheap. This ia widely used I diagnostics. Glucose oxidase also exhibits anti-bacterial properties in the presence of glucose by the production of hydrogen peroxide. This property is utilized in the production of oral care products. Glucose oxidase acts as an anti-microbial agent in the said products. With the significant rise in the CAGR of the global healthcare industry, we can expect to see a healthy CAGR for the glucose oxidase market throughout our forecasted period of 2016-2026.
Glucose oxidase is also used in the food and beverages industry to check the glucose levels of raw food products during the process of fermentation. Glucose oxidase is also used as a food preservative due to its oxidizing properties. This helps prolong the shelf life of the product. With the addition of glucose oxidase in the processing of food products, chemicals have been discarded from the process. Glucose oxidase is also used in the removal of oxygen at the upper level of beverage bottles before sealing.
Glucose oxidase is widely utilized in wine making to reduce the alcohol content of the wine by catalyzing the oxidation of glucose. With rising disposable incomes, food and beverages sector is bound to witness a significant rise n CAGR. By that token, we will find the glucose oxidase market witnessing a heathy CAGR throughout our forecasted period of 2016-2026. Glucose oxidase is also used in the process of packaging food products. It is used to remove the oxygen in the package before sealing.
Glucose oxidase Market- Regional Outlook:
In terms of geography, the glucose oxidase market has been divided in to five key regions; North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. The glucose oxidase market is expected to exhibit an above average CAGR during the forecast period. Asia Pacific region is expected to witness a high demand for glucose oxidase over the forecasted period. Highest growth is expected to be seen specifically from India and China. Significant growth will also be witness in Middle East and Africa, Eastern Europe and Latin America.
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Glucose oxidase Market- Major Players:
Some of the key players in the glucose oxidase market are Sigma-Aldrich Co. LLC, BBI Solutions, Parchem fine & specialty chemicals, Lee BioSolutions, MP Biomedicals, LLC, Innova Biosciences Ltd, Fischer Scientific International, Inc., Thomas Scientific, Roche Diagnostics, Nanning Doing-Higher Bio-Tech Co., Ltd.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Glucose oxidase Market- Market Segmentation:
Based on the Source, the Glucose oxidase market is segmented into:
- Fungi
- Bacteria
- Insects
- Plant
Based on end use, the Glucose oxidase market is segmented into:
- Food and Beverages
- Healthcare
- packaging
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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