Enzymes and prepared enzymes market in Portugal

Earlier Report Observations

From 2018 to 2020, the Portuguese enzymes market contracted, with volume falling from 3 252 t to 2 383 t. The market operated under the European food enzymes regulation (EC) No 1332/2008, which required authorization for commercialization. The slight decrease in 2020 coincided with the COVID-19 pandemic's impact on pharmaceutical and biotech research and ongoing regulatory restrictions that hampered market growth.

The market stabilized and then expanded sharply from 2021 to 2022. In 2021, strategic mergers and acquisitions, such as Kerry Group's purchase of C-Lecta, along with the launch of innovative enzymes for pharmaceutical and industrial applications, supported a modest recovery. The following year, market volume surged by over 30% to 3 140 t, driven by production expansion and technological development by major players like Novozymes, as well as rising demand for industrial enzymes for sanitization and sustainable processes, fueled by environmental norms and biofuel industry growth.

After the 2022 peak, the market volume adjusted downward to 2 466 t in 2023, before rising again to 2 695 t in 2024. International collaborations for high-performance enzyme development, such as between Ginkgo Bioworks and Merck, were notable in 2023, though the overall market volume retreated from its previous high.

Production enzymes and prepared enzymes in Portugal

In value, 2018-2021, K $ US

Portugal's production of enzymes and prepared enzymes rebounded after two years of decline. In 2021, output reached 2 705 K $ US, marking a robust 15.5% increase compared to the previous year. Over the 2018-2021 period, production grew by 4.7%, with an average annual growth rate of 1.6%. The lowest value was recorded in 2020 at 2 343 K $ US, which also saw the largest decline of 5.3%.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2021, Portugal produced 908.0 tonnes of enzymes and prepared enzymes, showing a strong 16.2% increase from the previous year. Between 2018 and 2021, production rose by 26.4%, equivalent to an annualized growth rate of 8.1%. The largest decline occurred in 2020, with a 4.4% drop.

Annual dynamics of production in Portugal in kind, 2018-2021, t

Exports enzymes and prepared enzymes from Portugal

Exports in kind, t

Portugal's exports of enzymes and prepared enzymes declined for the second consecutive year. In 2021, exports amounted to 334 tonnes, representing a substantial 11.9% contraction year-over-year. Over the 2018-2021 period, exports decreased by 11.5%, with an average annual decline of 4.0%. The highest value was recorded in 2019 at 381 tonnes, which also saw the largest increase of 0.9%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, Spain, Poland, and Italy formed the core of Portugal's exports in kind. Spain accounted for 24.2% of exports, Poland for 24.1%, and Italy for 21.5%. Together, these three countries represented 69.8% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

Portugal's exports of enzymes and prepared enzymes in value terms increased for the second consecutive year. In 2021, exports totalled 4 080 K $ US, showing a slight gain of 3.0% over the past year. However, between 2018 and 2021, exports decreased by 16.2%, equating to an annualized decline of 5.7%. The lowest value was recorded in 2019 at 3 907 K $ US, which also saw the largest decline of 19.7%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

In the 2018-2021 period, Spain, Italy, and Poland led the structure of Portugal's exports in value terms. Spain accounted for 34.9% of exports, Italy for 27.2%, and Poland for 9.3%. Together, these three countries represented 71.4% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports enzymes and prepared enzymes to Portugal

Imports in kind, t

Portugal's imports of enzymes and prepared enzymes declined for the third consecutive year. In 2021, imports totalled 1 831 tonnes, down by 7.6% compared to 2020. Over the 2018-2021 period, imports decreased by 37.1%, with an average annual decline of 14.3%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

From 2018 to 2021, Spain, Denmark, and the Netherlands were the main suppliers of enzymes and prepared enzymes to Portugal in kind. Spain accounted for 49.5% of imports, Denmark for 18.5%, and the Netherlands for 9.3%. Together, these three countries formed 77.3% of total imports.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

Portugal's imports of enzymes and prepared enzymes in value terms increased after two years of decrease. In 2021, imports reached 19 967 K $ US, reflecting a solid 23.6% rise year-over-year. The lowest value was recorded in 2020 at 16 160 K $ US, while the largest decline occurred in 2019 with a 14.5% drop.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

In the 2018-2021 period, Spain, Denmark, and France were the largest suppliers of enzymes and prepared enzymes to Portugal in value terms. Spain accounted for 32.0% of imports, Denmark for 24.1%, and France for 13.2%. Together, these three countries formed 69.2% of total imports.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021