Enzymes in Industrial Applications: Global Markets

The global market for industrial enzymes is estimated at $3.3 billion in 2010. This market is expected to reach $4.4 billion by 2015, a compound annual growth rate (CAGR) of 6% over the 5-year forecast period.

Technical enzymes are valued at just over $1 billion in 2010. This sector will increase at a 6.6% compound annual growth rate (CAGR) to reach $1.5 billion in 2015. The highest sales of technical enzymes occurred in the leather market, followed by the bioethanol market.

The food and beverage enzymes segment is expected to reach about $1.3 billion by 2015, from a value of $975 million in 2010, rising at a compound annual growth rate (CAGR) of 5.1%. Within the food and beverage enzymes segment, the milk and dairy market had the highest sales, with $401.8 million in 2009.

INTRODUCTION 

STUDY OBJECTIVES

BCC’s goal in conducting this study is to provide an overview of the current and future characteristics of the global market for industrial enzymes. The key objective is to present a comprehensive analysis of the current market and its future direction in the enzymes market as an important tool for increasing the efficiency and specificity of the products in which the enzymes are used.

This report explores present and future strategies within the industrial enzymes market, which includes the following segments: detergents, technical, food and beverages, and animal feed. Market initiatives, setbacks, and the needs of the market are discussed in this report. The comparisons, usage, and advantages and disadvantages of different enzymes types are also discussed.

A detailed analysis of the structure of the enzymes industry has been conducted. Revenues are broken down by global region. Sales figures are estimated for the 5-year period of 2010 through 2015.

Applications for industrial enzymes are also discussed separately in the report, with an emphasis on the usage of technical enzymes and food and beverage enzymes. The report also covers significant patents and their number in each category.

REASONS FOR DOING THIS STUDY

Extensive research on the biochemistry of small organisms has revealed that specific enzymes are responsible for the production of brewing, baking, and milk and dairy products. Microorganisms used in the past have now been replaced by purified enzymes. Modern industries have begun to explore the advantages of enzymes. This has led to the growing market for industrial enzymes.

Research and development (R&D) spending, along with increasing competition, patent expiries, and new technologies are taking the global market for industrial enzymes in a new direction. Although the industry did see a setback in 2009 due to the economic downturn, the new advancements and the need for cost reductions are influencing market growth. This study looks at most of the systems affected by these factors.

Acquisition strategies and collaborations by companies are also covered in this report. This study also discusses the strength and weaknesses of each type of technology in light of the new technologies, growing competition, and changing customer needs.

INTENDED AUDIENCE

This study contributes to the areas of market growth in food and beverages, animal feed, detergents, leather, and other technical enzyme manufacturers and users. Chemical, biochemical and biotechnical companies industries, and research institutes will find this study to be of interest.

SCOPE OF THE STUDY

The scope of this study encompasses industrial enzymes, biotechnical, chemical, and biotechnology markets. BCC analyzes each market and its applications, regulatory environment, technology involved, market projections, and market share. Technological issues include the latest trends and developments.

METHODOLOGY

Both primary and secondary research methodologies were used in preparing this study. BCC conducted a comprehensive literature search, which included technical newsletters and journals, and many other sources. Data were collected through interviews and correspondence with various chemical, biotechnical, and food and beverage technical experts. Projections are based on estimates such as the current number of end users, potential end users, mergers and acquisitions, and market trends.

INFORMATION SOURCES

Many companies within the industry were surveyed to obtain data for this study. Included were manufacturers and end users of enzymes in the chemical, biotechnology, food and beverage, leather, and detergent industries. Data were gathered from various industry sources. BCC spoke with officials within the industry, consulted newsletters, company literature, product literature, and a host of technical articles, journals, indexes, and abstracts. Exhaustive investigations of databases by key terminology were completed. In addition, data were compiled from current financial, trade, and government sources.

ABOUT THE AUTHOR

This study has been carried out by a team of professionals in the biotechnology industry. The project manager for this project is Shalini S. Dewan, who holds a master’s degree in pharmaceutical chemistry and has over 14 years of industry experience. Among the research topics she has covered are studies on compounds of potential pharmaceutical interest, from ibuprofen to 2-naphthyl acetic acid. Shalini was awarded a Gold Medal by the Prime Minister of India for her work and has worked with top companies in India and in the U.S.

Some of her other reports written for BCC are listed below:

Reagents of Chromatography; Spectroscopy, an Enduring Market
Advanced Drug Delivery Systems: New Developments, New Technologies
Orthopedic Drugs, Implants and Devices
Medical Imaging Reagents and Analysis Equipment
Pharmaceutical Regulatory Industry
The Dynamic Media, Sera and Reagent Market in Biotechnology
Contract Pharmaceutical Manufacturing, Research and Packaging
Chiral Technology: Global Markets
Autacoids and Related Drugs: Technologies and Global Markets
Contraceptives: Technologies and Global Markets
Liver Disease Treatments: The Global Market
Hormone Replacement Therapies and Other Hormone Therapies: Global Markets
Cardiovascular Medicine: Diagnostics, Drugs and Devices and Cancer Therapies: Technologies and Global Markets

The lead consultant for this project was Dr. Kapil A. Setia, who holds a doctoral degree in life sciences. 

Global Biopharmaceutical Industry

Chapter- 1: INTRODUCTION

STUDY OBJECTIVES 1
REASONS FOR DOING THIS STUDY 1
INTENDED AUDIENCE 2
SCOPE OF THE STUDY 2
METHODOLOGY 2
INFORMATION SOURCES 2
ABOUT THE AUTHOR 3
RELATED BCC RESEARCH REPORTS 3
BCC ONLINE SERVICES 4
DISCLAIMER 4

Chapter-2: EXECUTIVE SUMMARY



EXECUTIVE SUMMARY 5
SUMMARY TABLE GLOBAL INDUSTRIAL ENZYMES MARKET, THROUGH 2015 ($ MILLIONS) 6
SUMMARY FIGURE GLOBAL INDUSTRIAL ENZYMES MARKET, 2008-2015 ($ MILLIONS) 7
Chapter-3: OVERVIEW

DEFINITIONS 8
ENZYME 8
COENZYME 8
PROSTHETIC GROUP 8
ACTIVE SITE 8
GENERAL CHARACTERISTICS OF ENZYMES 8
CHEMICAL NATURE OF ENZYMES 9
ENZYME NOMENCLATURE 9
HISTORY OF ENZYMES 9
TABLE 1 HISTORY OF ENZYMES 10
FACTORS AFFECTING THE PERFORMANCE OF ENZYMES 10
TEMPERATURE 10
PH 10
IONS 10
CONCENTRATION 11
MECHANISM OF ENZYME ACTION 11
ENZYME SPECIFICITY 11
PRODUCTION OF ENZYMES 11
PRODUCTION OF ENZYMES (CONTINUED) 12
PRODUCTION OF ENZYMES (CONTINUED) 13
TABLE 2 PROTEIN ENGINEERED COMMERCIAL ENZYMES 14
TABLE 3 EXAMPLES OF GENETICALLY ENGINEERED ENZYMES 14
GENETICALLY MODIFIED ORGANISMS IN ENZYME MANUFACTURING 14
TABLE 4 ADVANTAGES AND DISADVANTAGES OF ENZYMES 15

Chapter-4: CLASSIFICATION OF ENZYMES

CLASSIFICATION BASED ON STRUCTURE AND PARTS 16
CLASSIFICATION BASED ON CHEMICAL REACTION THE ENZYMES CATALYZE 16
OXIDOREDUCTASES 17
TRANSFERASES 17
HYDROLASES 17
LYASES 17
ISOMERASES 17
LIGASES OR SYNTHETASES 17
TABLE 5 TYPES OF ENZYMES AND REACTIONS THEY CATALYZE 18
CLASSIFICATION OF ENZYMES BASED ON THEIR APPLICATION 18
TABLE 6 DIFFERENCES BETWEEN INDUSTRIAL AND MEDICAL ENZYMES 18
INDUSTRIAL ENZYMES 19
Advantages/Benefits of Industrial Enzymes 19
TABLE 7 COMMONLY USED INDUSTRIAL ENZYMES 19
Detergent Enzymes 20
TABLE 8 COMMONLY USED ENZYMES IN DETERGENTS 20
Technical Enzymes 21
Enzymes in the Textile Industry 21
Enzymes in the Pulp and Paper Industry 21
Enzymes in the Leather Industry 22
TABLE 9 ENZYMES USED IN VARIOUS PROCESSES OF LEATHER MANUFACTURING 23
Enzymes in the Food and Beverage Industry 23
Enzymes in the Food and … (Continued) 24
Enzymes in the Starch and Sugar Industry 25
Enzymes in the Baking Industry 25
Enzymes … (Continued) 26
TABLE 10 ENZYMES USED IN THE BAKING INDUSTRY 27
Enzymes in the Dairy Industry 27
Enzymes in the Brewing Industry 28
Enzymes in the Fruit Juice Industry 29
Enzymes in the Tea and Coffee Industry 29
Enzymes in the Alcohol Industry 30
Enzymes in the Animal Feed Industry 30
TABLE 11 ENZYMES USED IN ANIMAL FEED 31

Chapter-5: REGULATORY ASPECTS

GRAS NOTICES 33
TABLE 12 GRAS NOTICES, 2006–2010 (JULY) 33
TABLE 12 (CONTINUED) 34
TABLE 12 (CONTINUED) 35
NEW THERAPEUTIC ENZYME APPROVALS 35
TABLE 13 NEW APPROVALS FOR THERAPEUTIC ENZYMES 36
OTHER APPROVALS 36
OTHER APPROVALS (CONTINUED) 37

Chapter-6: INDUSTRY STRUCTURE



MANUFACTURERS/SUPPLIERS OF ENZYMES 38
TABLE 14 LEADING MANUFACTURERS/SUPPLIERS OF DETERGENT ENZYMES 38
TABLE 14 (CONTINUED) 39
TABLE 15 LEADING MANUFACTURERS AND SUPPLIERS OF TECHNICAL ENZYMES 39
TABLE 15 (CONTINUED) 40
TABLE 15 (CONTINUED) 41
TABLE 16 LEADING MANUFACTURERS AND SUPPLIERS OF FOOD AND BEVERAGE ENZYMES 41
TABLE 16 (CONTINUED) 42
TABLE 16 (CONTINUED) 43
TABLE 16 (CONTINUED) 44
TABLE 16 (CONTINUED) 45
TABLE 16 (CONTINUED) 46
TABLE 17 LEADING MANUFACTURERS AND SUPPLIERS OF ANIMAL FEED ENZYMES 46
TABLE 17 (CONTINUED) 47
MARKET SHARES OF INDUSTRY LEADERS 47
DETERGENT ENZYMES 47
TABLE 18 GLOBAL MARKET SHARES OF DETERGENT ENZYME MANUFACTURERS, 2009 (%) 48
FIGURE 1 GLOBAL MARKET SHARES OF DETERGENT ENZYME MANUFACTURERS, 2009 (%) 48
TECHNICAL ENZYMES 48
TABLE 19 GLOBAL MARKET SHARES OF TECHNICAL ENZYME MANUFACTURERS, 2009 (%) 49
FIGURE 2 GLOBAL MARKET SHARES OF TECHNICAL ENZYME MANUFACTURERS, 2009 (%) 49
FOOD AND BEVERAGE ENZYMES 50
TABLE 20 GLOBAL MARKET SHARES OF FOOD AND BEVERAGE ENZYME MANUFACTURERS, 2009 (%) 50
FIGURE 3 GLOBAL MARKET SHARES OF FOOD AND BEVERAGE ENZYME MANUFACTURERS, 2009 (%) 50
ANIMAL FEED ENZYMES 51
TABLE 21 GLOBAL MARKET SHARES OF ANIMAL FEED ENZYME MANUFACTURERS, 2009 (%) 51
FIGURE 4 GLOBAL MARKET SHARES OF ANIMAL FEED ENZYME MANUFACTURERS, 2009 (%) 51
NEW DEVELOPMENTS 52
GENENCOR 52
TABLE 22 NEW DEVELOPMENTS BY GENENCOR 52
TABLE 22 (CONTINUED) 53
TABLE 22 (CONTINUED) 54
NOVOZYMES 54
TABLE 23 NEW DEVELOPMENTS BY NOVOZYMES 54
TABLE 23 (CONTINUED) 55
AB ENZYMES 55
TABLE 24 NEW DEVELOPMENTS BY AB ENZYMES 55
TABLE 24 (CONTINUED) 56
VERENIUM CORP. 56
TABLE 25 NEW DEVELOPMENTS BY AB VERENIUM CORP. 56
OTHERS 57
TABLE 26 NEW DEVELOPMENTS BY AB VERENIUM CORP. 57

Chapter-7: MARKET ANALYSIS

TABLE 27 GLOBAL INDUSTRIAL ENZYMES MARKET, THROUGH 2015 ($ MILLIONS) 58
FIGURE 5 GLOBAL INDUSTRIAL ENZYMES MARKET, 2008-2015 ($ MILLIONS) 59
DETERGENT ENZYMES 60
TABLE 28 DIFFERENCES BETWEEN ENZYMATIC AND NON-ENZYMATIC DETERGENTS 61
MARKET OVERVIEW 62
MARKET REVENUE 62
TABLE 29 GLOBAL MARKET FOR DETERGENT ENZYMES BY REGION, THROUGH 2015 ($ MILLIONS) 62
FIGURE 6 GLOBAL MARKET FOR DETERGENT ENZYMES BY REGION, 2008-2015 ($ MILLIONS) 63
TECHNICAL ENZYMES 63
MARKET OVERVIEW 64
MARKET REVENUE 65
TABLE 30 GLOBAL MARKET FOR TECHNICAL ENZYMES BY REGION, THROUGH 2015 ($ MILLIONS) 66
FIGURE 7 GLOBAL MARKET FOR TECHNICAL ENZYMES BY REGION, 2008-2015 ($ MILLIONS) 66
FOOD AND BEVERAGE ENZYMES 66
FOOD AND BEVERAGE ENZYMES (CONTINUED) 67
MARKET OVERVIEW 68
MARKET REVENUE 68
TABLE 31 GLOBAL MARKET FOR FOOD AND BEVERAGE ENZYMES BY REGION THROUGH 2015 ($ MILLIONS) 69
FIGURE 8 GLOBAL MARKET FOR FOOD AND BEVERAGE ENZYMES BY REGION, 2008-2015 ($ MILLIONS) 69
ANIMAL FEED 69
MARKET OVERVIEW 70
Market Overview (Continued) 71
MARKET REVENUE 72
TABLE 32 GLOBAL MARKET FOR FEED ENZYMES BY REGION, THROUGH 2015 ($ MILLIONS) 73
FIGURE 9 GLOBAL MARKET FOR ANIMAL FEED ENZYMES BY REGION, 2008-2015 ($ MILLIONS) 73
GLOBAL REGIONAL MARKET SHARES 74
TABLE 33 GLOBAL ENZYME MARKET SHARES BY REGION, 2009 (%) 74
FIGURE 10 GLOBAL ENZYME MARKET SHARES BY REGION, 2009 (%) 74
MARKET BY APPLICATION 75
APPLICATIONS FOR DETERGENT ENZYMES 75
APPLICATIONS FOR TECHNICAL ENZYMES 75
Textile Enzymes 76
Market Overview and Revenue 77
TABLE 34 GLOBAL MARKET FOR TEXTILE ENZYMES, THROUGH 2015 ($ MILLIONS) 78
FIGURE 11 GLOBAL MARKET FOR TEXTILE ENZYMES, THROUGH 2015 ($ MILLIONS) 78
Pulp and Paper Industry 79
Market Overview and Revenue 80
TABLE 35 GLOBAL MARKET FOR PULP AND PAPER ENZYMES, THROUGH 2015 ($ MILLIONS) 81
FIGURE 12 GLOBAL MARKET FOR PULP AND PAPER ENZYMES, THROUGH 2015 ($ MILLIONS) 81
Bioethanol 82
Market Overview and Revenue 83
Market … (Continued) 84
TABLE 36 GLOBAL MARKET FOR BIOETHANOL ENZYMES, THROUGH 2015 ($ MILLIONS) 85
FIGURE 13 GLOBAL MARKET FOR BIOETHANOL ENZYMES, 2008-2015 ($ MILLIONS) 85
Leather Enzymes 86
Market Overview and Revenue 87
TABLE 37 GLOBAL MARKET FOR LEATHER ENZYMES, THROUGH 2015 ($ MILLIONS) 87
FIGURE 14 GLOBAL MARKET FOR LEATHER ENZYMES, 2008-2015 ($ MILLIONS) 88
Total Market Revenues for Technical Enzymes by Application 88
TABLE 38 GLOBAL REVENUE FOR TECHNICAL ENZYMES IN VARIOUS APPLICATION SEGMENTS, THROUGH 2015 ($ MILLIONS) 89
FIGURE 15 GLOBAL REVENUES FOR TECHNICAL ENZYMES IN VARIOUS APPLICATION SEGMENTS, 2008-2015 ($ MILLIONS) 89
ENZYMES IN THE FOOD INDUSTRY 89
Sugar Syrups or Sweeteners 90
Market Overview and Revenue 91
TABLE 39 GLOBAL MARKET FOR ENZYMES IN SUGAR SYRUPS AND SWEETNERS, THROUGH 2015 ($ MILLIONS) 91
FIGURE 16 GLOBAL MARKET FOR ENZYMES IN SUGAR SYRUPS AND SWEETNERS, 2008-2015 ($ MILLIONS) 91
Baking Industry 92
Market Overview and Revenue 93
TABLE 40 GLOBAL MARKET FOR ENZYMES IN THE BAKING SEGMENT, THROUGH 2015 ($ MILLIONS) 94
FIGURE 17 GLOBAL MARKET FOR ENZYMES IN THE BAKING SEGMENT, 2008-2015 ($ MILLIONS) 94
Brewing Enzymes 95
Market Overview and Revenue 96
TABLE 41 GLOBAL MARKET FOR ENZYMES IN THE BREWING SEGMENT, THROUGH 2015 ($ MILLIONS) 97
FIGURE 18 GLOBAL MARKET FOR ENZYMES IN BREWING SEGMENT, 2008-2015 ($ MILLIONS) 97
Milk and Dairy Enzymes 98
Market Overview and Revenue 99
TABLE 42 GLOBAL MARKET FOR ENZYMES IN THE MILK AND DAIRY SEGMENT, THROUGH 2015 ($ MILLIONS) 100
FIGURE 19 GLOBAL MARKET FOR ENZYMES IN THE MILK AND DAIRY SEGMENT, 2008-2015 ($ MILLIONS) 100
Beverages 101
Market Overview and Revenue 102
TABLE 43 GLOBAL MARKET FOR ENZYMES IN THE BEVERAGE SEGMENT, THROUGH 2015 ($ MILLIONS) 102
FIGURE 20 GLOBAL MARKET FOR ENZYMES IN THE BEVERAGE SEGMENT, 2008-2015 ($ MILLIONS) 103
Others 103
Market Overview and Revenue 104
TABLE 44 GLOBAL MARKET FOR ENZYMES IN THE OTHERS CATEGORY, THROUGH 2015 ($ MILLIONS) 104
FIGURE 21 GLOBAL MARKET FOR ENZYMES IN THE OTHERS CATEGORY, 2008-2015 ($ MILLIONS) 104
Total Market Revenue for Food and Beverage Enzymes by Application 105
TABLE 45 GLOBAL REVENUE FOR FOOD AND BEVERAGE ENZYMES IN VARIOUS APPLICATION SEGMENTS, THROUGH 2015 ($ MILLIONS) 105
FIGURE 22 GLOBAL REVENUE FOR FOOD AND BEVERAGE ENZYMES IN VARIOUS APPLICATION SEGMENTS, 2008-2015 ($ MILLIONS) 106
ANIMAL FEED ENZYMES 106
MARKET SHARES OF TECHNICAL ENZYMES APPLICATIONS 107
TABLE 46 GLOBAL TECHNICAL ENZYMES BY APPLICATION, 2009 (%) 107
FIGURE 23 GLOBAL TECHNICAL ENZYME MARKET SHARES, BY APPLICATION, 2009 (%) 108
MARKET SHARES OF FOOD AND BEVERAGE ENZYMES APPLICATIONS 108
TABLE 47 GLOBAL FOOD AND BEVERAGE ENZYMES BY APPLICATION, 2009 (%) 108
FIGURE 24 GLOBAL FOOD AND BEVERAGE ENZYMES MARKET SHARES, BY APPLICATION, 2009 (%) 109

Chapter-8: PATENT ANALYSIS

PATENTS BY YEAR 110
TABLE 48 U.S. PATENTS ON INDUSTRIAL ENZYMES BY YEAR, 2006 TO SEPTEMBER 2010 (NO.) 111
FIGURE 25 U.S. PATENTS ON INDUSTRIAL ENZYMES BY YEAR, 2006 TO SEPTEMBER 2010 (NO.) 111
FIGURE 26 NUMBER OF PATENTS BY YEAR, 2006–2010 (%) 112
PATENTS BY TYPE 112
TABLE 49 U.S. PATENTS ON INDUSTRIAL ENZYMES BY TYPE, 2006 TO SEPTEMBER 2010 (NO.) 113
FIGURE 27 U.S. PATENTS ON INDUSTRIAL ENZYMES BY TYPE, 2006 TO SEPTEMBER 2010 (NO.) 113
PATENTS BY APPLICATION 114
TABLE 50 U.S. PATENTS ON TECHNICAL ENZYMES BY APPLICATION, 2006 TO SEPTEMBER 2010 (NO.) 114
FIGURE 28 U.S. PATENTS ON TECHNICAL ENZYMES BY APPLICATION, 2006–2010 (NO.) 115
TABLE 51 U.S. PATENTS ON FOOD AND BEVERAGE ENZYMES BY APPLICATION, 2006 TO SEPTEMBER 2010 (NO.) 115
FIGURE 29 U.S. PATENTS ON FOOD AND BEVERAGE ENZYMES BY APPLICATION, 2006 TO SEPTEMBER 2010 (NO.) 116
PATENTS BY COMPANY 116
TABLE 52 U.S. PATENTS ON INDUSTRIAL ENZYMES BY COMPANY, 2006 TO SEPTEMBER 2010 (NO.) 117
FIGURE 30 U.S. PATENTS ON INDUSTRIAL ENZYMES BY COMPANY, 2006 TO SEPTEMBER 2010 (NO.) 117
PATENTS BY COUNTRY 118
TABLE 53 U.S. PATENTS ON INDUSTRIAL ENZYMES BY COUNTRY, 2006 TO SEPTEMBER 2010 (NO.) 118
FIGURE 31 U.S. PATENTS ON INDUSTRIAL ENZYMES BY COUNTRY, 2006 TO SEPTEMBER 2010 (NO.) 119
TABLE 54 PATENT SHARES OF INDUSTRIAL ENZYMES BY COUNTRY, 2006 TO SEPTEMBER 2010 (NUMBER/%) 119
FIGURE 32   U.S. PATENT SHARES OF INDUSTRIAL ENZYMES BY COUNTRY, 2006 TO SEPTEMBER 2010 (%) 120
PATENTS BY ASSIGNEE 120
TABLE 55 U.S. PATENTS ON INDUSTRIAL ENZYMES BY ASSIGNEE TYPE, 2006 TO SEPTEMBER 2010 (NO.) 120
FIGURE 33 U.S. PATENTS ON INDUSTRIAL ENZYMES BY ASSIGNEE, 2006 TO SEPTEMBER 2010 (NO.) 121

Chapter-9: CURRENT SITUATION



FACTORS AFFECTING THE INDUSTRIAL ENZYMES MARKET 122
ENVIRONMENTAL CONCERNS 122
COST REDUCTION 123
INNOVATIVE USE OF ENZYMES 123
CONTINUED RESEARCH AND DEVELOPMENT 124
SIGNIFICANT FUNDING FOR RESEARCH ON BIOETHANOL PRODUCTION 124
ADVANTAGEOUS PROFILE OF ENZYMES 124
MANUFACTURERS’ STRATEGIES 125
FUTURE OF THE INDUSTRIAL ENZYMES MARKET 125
FUTURE OF THE INDUSTRIAL … (CONTINUED) 126

Chapter-10: COMPANY PROFILES

AB ENZYMES 127
ADVANCED ENZYME TECHNOLOGIES, LTD. 127
AMANO ENZYME, INC. 128
AUM ENZYMES 129
BASF CORP. 129
BIOCATALYSTS, LTD. 130
BIORESOURCE INTERNATIONAL, INC. 130
CARGILL TEXTURIZING SOLUTIONS 130
CHR. HANSEN 131
DANISCO A/S 131
DIREVO INDUSTRIAL BIOTECHNOLOGY GMBH 132
DSM FOOD SPECIALTIES 133
DYADIC INTERNATIONAL 133
ENZYMATIC DEINKING TECHNOLOGIES, LLC 134
ENZYME SOLUTIONS, INC. 134
HAYASHIBARA INTERNATIONAL 135
MAPS ENZYMES, LTD. 136
NOVOZYMES A/S 136
SPECIALTY ENZYMES & BIOTECHNOLOGIES CO. 137
VERENIUM CORP. 138

Chapter-11: APPENDIX

ABBREVIATIONS 139