###FACTBOX ARTICLE###In 2015, the world market for industrial enzymes expanded by 10% to an estimated DKK 25 billion, driven mainly by currencies. Novozymes remained the market leader with a 48% share of the market, followed by DuPont with an estimated 20%.
In the growing market for microorganisms, which is especially influenced by trends in the agricultural industry, improving yields and complementing chemical fertilizers and pesticides remain priorities. This industry is also attracting increased attention from established agricultural suppliers such as Bayer CropScience, Syngenta/DSM, FMC/Chr. Hansen and BASF.
Sustainability in focus
2015 brought a continued focus on sustainable technology that enables manufacturers to produce more from less. This was clear from broad support among participants at global venues such as the UN Sustainable Development Summit and the UN Climate Change Conference (COP21). With its ability to replace harsh chemicals and improve the performance and environmental impact of many everyday products, industrial biotechnology meets the need for sustainable technology, which is a growing trend across many industries and markets.
Other growth drivers include a rising global population and an expanding middle class in emerging markets. Other things being equal, high input costs will fuel interest in moving to sustainable solutions.
In addition to industry-specific market trends, Novozymes identifies
and assesses issues in the external environment that are relevant for
key stakeholders and important for the long-term sustainability of the
This is a systematic process in which we engage with our stakeholders and compile diverse inside-out and outside-in perspectives. These insights guide our long-term strategy and sharpen our sustainability reporting.
Novozymes’ materiality matrix
This illustration is a snapshot of the upper-right quadrant of our materiality matrix and depicts the issues most material to our business.
The issues identified here pose significant risks and/or opportunities for Novozymes and are considered the most important by our stakeholders. Each issue has been defined and mapped to relevant UN Sustainable Development Goals and GRI categories.
To ensure transparency, we also disclose information on certain issues that are less material (secondary material issues) that are not depicted here. Learn more in our GRI Supplementary section.
Mouse over the material issues below in the matrix to find additional information.