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Enzymes are vital to many of the applications and industries we take for granted in everyday life, including food and beverages, animal nutrition, pulp and paper, detergents and textiles. They are biological catalysts which accelerate biochemical reactions while also offering on occasion more sustainable solutions to a wide variety of processes and formulations, such as washing clothes as effectively at lower temperatures. Enzymes often act as a substitute for traditional chemicals, and can significantly improve the yield from a raw material, delivering for example higher yields when crushing apples for apple juice concentrate.
At AB Enzymes, we have been active in the enzymes market for more than 100 years. We have always enjoyed a significant share of our home European market but until recently we had not developed a strong presence outside Europe. This changed some seven years ago when we took the decision to pursue a strategy of globalisation, transforming the business subsequently into a global enzymes company.
To create a truly global business, we needed to use our strength in technology to meet the needs of the global enzymes market. We also needed to develop our internal culture, moving from a business with a European outlook to one with a truly global mindset. This involved embracing a more decentralised management style, allowing regional teams the freedom to operate in a way that met the needs of their local market.
The largest global market for enzymes is North America, followed by Europe, with Asia demonstrating the strongest growth. Therefore we established a presence in the US, Brazil, China and Singapore to create a network of local application laboratories, expert technical and sales teams, supply chains and regulatory capabilities. This enabled us to build connections and develop client relationships in these new markets.
Today this strategy is bearing fruit. Asia and Latin America have seen double digit growth in the last three years and these markets are expected to continue to grow. We are continuing to expand our operations by increasing our regional footprint, strengthening client relationships and accelerating new product development to meet local requirements. We have invested in two new application bakeries, one in the US and one in Singapore, to be closer to our regional customers and to support them in finding solutions that meet their unique local market challenges.