Europe Serine Protease Market Size Worth $1.97 Billion By 2030

Europe Serine Protease Market Growth & Trends

The Europe serine proteases market is expected to reach USD 1.97 billion by 2030, as per the new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 8.3% from 2022 to 2030. The growth is majorly driven by the rising demand for natural ingredients in soaps and detergents applications, especially in the developed economies.

The market is expected to witness significant growth during the forecast period owing to the increasing mindfulness concerning the deteriorating nutrition levels among customers has surged protein consumption. In addition, the growth of food & beverage, pharmaceutical, detergent, and chemical end-use industries across Europe is expected to promote the growth of the market.

Europe is one of the leading laundry detergent manufacturing regions in the world. The wide applicability of serine protease in home care products for cleansing purposes is anticipated to positively impact the regional market. Additionally, the product finds its vast application in treating various stomach-related disorders such as food allergies and digestive disorders. The growing prevalence of such disorders in countries like France, Italy, the U.K., and Germany is anticipated to boost the market growth in Europe.

Significant growth was observed in the market for serine protease in Europe due to the wide applicability of the product in various industries including the leather industry, and the pharmaceutical industry, and its vast application in soaps and detergents during the pre-COVID period. The COVID-19 outbreak partially affected the regional market.

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Europe Serine Proteases Market Report

Europe Serine Protease Market Report Highlights

• Pharmaceutical application is expected to register the fastest CAGR of nearly 9.0%, owing to its usage in the production of medicines for curing food allergies, and digestive disorders. In addition, the product’s applicability in treating various cardiovascular diseases is expected to drive the market growth
• Serine proteases can break down proteins. They are added to food products to enhance their nutritional value. These proteases are important for the hydrolysis of proteins that helps in generating peptides with many bioactivities. Increasing health awareness among the masses in Europe is positively impacting the product demand in the region
• The U.K. market for serine protease is anticipated to expand at the fastest CAGR of 9.0%, due to the increasing population along with rising concerns regarding the consumer’s health and the need for naturally derived products for human usage, especially in food products
• France is also expected to witness a high CAGR due to the rising prevalence of food allergies and multiple digestive disorders such as stomachache, coupled with the increasing usage of serine proteases in curing these disorders
• Multinational corporations across the region have established a serine proteases supply chain comprising in-house supply channels or third-party distributors. It is supplied by the business-to-business (B2B) supply chain through wholesalers. It is also provided to different end-use industries by companies who have direct agreements or third-party supply agreements