As global consumption and demand for more sustainable business practices continue to grow, industrial biotechnology is positioned to be part of the solution to many of the world’s challenges. The market for biotechnology is expanding, and attracting interest and investment from large, established players in adjacent industries. Uncertain and challenging market environments and growing competition among customers are impacting industry dynamics. These market trends emphasize the need for innovation and strong positioning of Novozymes’ solutions.
In 2015, the world market for industrial enzymes expanded by 10% to an estimated DKK 25 billion, driven mainly by currencies. Novozymes remained the market leader with a 48% share of the market, followed by DuPont with an estimated 20%.
In the growing market for microorganisms, which is especially influenced by trends in the agricultural industry, improving yields and complementing chemical fertilizers and pesticides remain priorities. This industry is also attracting increased attention from established agricultural suppliers such as Bayer CropScience, Syngenta/DSM, FMC/Chr. Hansen and BASF.
Sustainability in focus 2015 brought a continued focus on sustainable technology that enables manufacturers to produce more from less. This was clear from broad support among participants at global venues such as the UN Sustainable Development Summit and the UN Climate Change Conference (COP21). With its ability to replace harsh chemicals and improve the performance and environmental impact of many everyday products, industrial biotechnology meets the need for sustainable technology, which is a growing trend across many industries and markets.
Other growth drivers include a rising global population and an expanding middle class in emerging markets. Other things being equal, high input costs will fuel interest in moving to sustainable solutions.
In the growing market for microorganisms, which is especially influenced by trends in the agricultural industry, improving yields and complementing chemical fertilizers and pesticides remain priorities. This industry is also attracting increased attention from established agricultural suppliers such as Bayer CropScience, Syngenta/DSM, FMC/Chr. Hansen and BASF.
Sustainability in focus 2015 brought a continued focus on sustainable technology that enables manufacturers to produce more from less. This was clear from broad support among participants at global venues such as the UN Sustainable Development Summit and the UN Climate Change Conference (COP21). With its ability to replace harsh chemicals and improve the performance and environmental impact of many everyday products, industrial biotechnology meets the need for sustainable technology, which is a growing trend across many industries and markets.
Other growth drivers include a rising global population and an expanding middle class in emerging markets. Other things being equal, high input costs will fuel interest in moving to sustainable solutions.
