In 2022, it’s expected that the glucose oxidase market will be worth USD 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 USD 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 mainly produced by Aspergillus and Penicillium that acts as a catalyzing agent for the oxidation of glucose. Its applications are multifarious however, it is mainly utilized in the food & beverages and healthcare sector.
Contrary to popular belief, enzymes are not only used in the healthcare and food & beverage sectors. The industrial sector has welcomed the use of enzymes in various applications as well. Unbeknownst to most, enzymes are utilized by us in some or the other form. Enzymes are used widely in the paper and pulp, textiles, food & beverage industries. The application of enzymes was not as popular before. However, with further study in amino acid patterns, it was possible to isolate enzymes to be used in various applications. Enzymatic processes provide a substitute for chemical reactions. One of the most widely used enzymes is Glucose oxidase.
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.
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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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
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