Market Research Future (MRFR) presumes that the industrial enzymes market could anticipate growth at a healthy rate of 6.27% from 2022 to 2030.
Top Boosters and Key Restraints
Mounting demand for industrial enzymes from various end-use sectors including home cleaning, biofuel, food and beverage, and animal feed, should result in significant business growth over the next few years. The global market will benefit from the heightened demand for proteases and carbohydrase in the food and beverage sector, particularly in the emerging nations of Asia Pacific, like India, Japan, and China.
Furthermore, the industrial enzymes market size in developing countries has been surging thanks to the rise in the industrialization rate and the advances in the nutraceutical sector. The product demand in emerging regions is especially high in sectors like detergents, textiles, and nutraceuticals.
Industrial enzymes are also enjoying significant demand from the animal feed industry worldwide, which translates into considerable market growth. In the nutraceuticals sector, the product demand has burgeoned rapidly, given the surging consumer awareness with regard to health.
Segmental Review
Different types of industrial enzymes are carbohydrates, lipases, proteases, and others. Out of these, the Carbohydrases segment will be heading the worldwide market. Various types of Carbohydrases are amylases, cellulases, and others. Carbohydrases are primarily deployed in numerous industrial applications including detergents, textiles & leather, and food & beverages. This could be due to the several advantages, including reduction in time and consumption, ease in modification, cost-effectiveness, and optimization of the process.
Industrial enzymes have applications in detergents and cleaning, food and beverages, feed, pharmaceuticals and nutraceuticals, textiles, and others. The lead has been taken by the food & beverages segment, on account of the surging use of enzymes in the sector. Some of the key applications are nutraceuticals, meat processing, dairy products, bakery products, beverages, and others. Enzymes that are deployed in this sector can be divided into processing aids and food additives.
The key sources covered in the study of the industrial enzymes market include plant, microorganisms and animal. Microorganisms form the biggest segment in the worldwide market, due to the rising number of genetically engineered microorganisms, along with the wide range of applications. Microorganisms are the top source of industrial enzymes due to their high availability as well as the low production costs.
Regional Insight
North America will be emerging as the top performer in the global industrial enzymes market, thanks to the emergence superior and high-quality products, technical developments and rapid industrialization. Rise in sales of a variety of alcoholic beverages as well as processed food, along with the heightened awareness level with regard to green technologies that address the environmental issues also enhance the market share in the region.
Europe is the second highest gainer and consumer in the worldwide market, considering that the region is a leading producer of pharmaceutical, cosmetics and medicinal products. Strong base of several renowned cosmetic and pharmaceutical companies in the region including New Avon Company, Sanofi, Novartis AG, GlaxoSmithKline plc., Henkel AG & Co., Unilever, Hoffmann-La Roche Ltd., Beiersdorf, Bayer AG, AstraZeneca, Merck KgaA, Novo Nordisk A/S, and L’Oréal, adds to the demand for industrial enzymes.
Top Companies
BASF SE (Germany), Lesaffre (France), Associated British Foods PLC (UK), Chr. Hansen Holding A/S (Denmark), DowDuPont (US), Koninklijke DSM N.V. (Netherlands), Dyadic International Inc. (US), Advanced Enzyme Technologies Ltd (India), Adisseo (China), Amano Enzyme Inc. (Japan), Codexis Incorporated (US), AB Enzymes (Germany), Novozymes A/S (Denmark), BioResource International Inc. (US), Cargill, Incorporated (US) are the reputed developers of industrial enzymes.
Over the years, the industrial enzymes industry has experienced numerous new product launches, agreements, collaborations, and partnerships.
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