Lab Evolved Enzymes Market Share

Regionally, the global lab evolved enzymes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. North America industry is likely to hold largest revenue share by 2037, due to development of novel and superior performing products in the region. In addition, growing usage of enzymes in the pharmaceuticals industry is also expected to accelerate the market growth in the region in the coming years. Moreover, the market in Europe is also projected to grab a notable share during the forecast period, which can be credited to the increasing growth of beef and poultry, which in turn is anticipated to raise the usage of enzymes in feed in the region. As per the statistics provided by the European Union, there were about 146 million pigs, 76 million bovine animals and 75 million sheep and goats in the EU in 2020. The region produced 13.6 million tons of poultry meat that year.