Industrial Enzymes Market was valued at USD 7.09 Bn in 2022, and it is expected to reach USD 10.96 Billion by 2029, exhibiting a CAGR of 6.4 % during the forecast period.
Industrial Enzymes Market Overview:
Maximize Market Research's new report, Global Industrial Enzymes Market 2024-2030, is useful for understanding the market's competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2024-2030). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Industrial Enzymes market.
Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Industrial Enzymes market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market's complexities. The research provides an overview of the worldwide Industrial Enzymes market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.
Drivers:
Increased product demand from end-use industries like biofuel, domestic cleaning, animal feed, and food and beverage is propelling the growth of the industrial enzymes market. The market is expected to be driven by the rising need for carbohydrases and proteases in food and beverage applications, especially in Asia Pacific's emerging nations like China, India, and Japan. Furthermore, increased manufacturing and developments in the nutraceutical sector may be responsible for the prosperity of industrialized economies. Such elements have significantly accelerated market expansion.
In the food business, industrial enzymes are highly sought after for uses in food processing, grain extraction, cheese, dairy, food preservation, and other areas. Enzymes called amylases catalyze the conversion of starch to sugar. Additionally, hydrolytic enzymes like proteases are used in dairy, but the processing of oils and fats, baking, brewing, and other sectors are using more and more lipase, cellulases, and other enzymes. Consequently, the Industrial Enzymes Market is being driven by the growth of the food and beverage industry. The India Brand Equity Foundation (IBEF) projects that by 2025–2029, the country's food manufacturing industry will be valued USD 535 billion. In addition, industrial enzymes are becoming more and more necessary for food applications like bread, dairy processing, and meat products.
Segmentation:
by Types
• Carbohydrases
• Amylases
• Cellulases
• Proteases
• Lipases
In terms of product type, the market was dominated by the carbohydrases segment, which in 2022 accounted for over 47.0% of global revenue. Animal feed, food and drink, pharmaceuticals, and other industries all use carbohydrase enzymes. The main application of carbohydrases is as a catalyst to change carbohydrates into sugar syrup, such as glucose and fructose, which is then utilized in the food and beverage, pharmaceutical, and food industries.
Increased protein consumption as a result of consumers' growing awareness of their declining nutritional status is expected to drive demand for proteases in the food industry over the course of the forecast period. In addition, sector growth is anticipated throughout the projected period due to the expansion of the chemical, detergent, and pharmaceutical end-use industries in developing nations like China, India, and Brazil.
by Application
• Food & Beverages
• Cleaning agents
• Animal feed
• Detergents
• Waste water treatment
• others
By Application, with over 22.0% of worldwide sales, the food and beverage segment led the market in 2022. Production of nutritious food and beverage products requires the use of industrial enzymes. Customized solutions and distinct enzyme products are needed by the cheese, fruit and vegetable, fats and oils, grain, and protein processing industries, as well as by the baking, dairy, cereal extraction, and brewing sectors of the food processing industry. Food and beverage industries may reduce waste, maximize production, optimize resources, save expenses, minimize environmental damage, and improve end product quality with the help of specialized enzyme solutions.
by Source
• Microorganisms
• Plants
• Yeast
• Animals
• Fungal
According to Source, the microorganisms category accounted for more than 60% of total sales in 2022. There are three categories of microorganism-derived enzymes: yeast, fungus, and bacteria. Enzymes used in industry that are obtained from mushrooms include hydrolases, esterases, and phenol oxidases. The most popular source of bacterial enzymes is Bacillus. The food and beverage, pharmaceutical, and detergent industries use the majority of industrial enzymes. Products made from fungi are becoming more and more common since they can be found in a wide range of end industries. Since they are crucial to the production and preparation of many different food items, including beer, soy sauce, dairy products, processed fruits, and baked goods, fungus enzymes have a wide range of uses.
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Key Players:
It then discusses the top competitors in the worldwide Industrial Enzymes market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:
• Chr. Hansen,
• Novozymes A/S,
• Codexis Inc.,
• Novus International Inc.,
• Associated British Foods (ABF) plc.
• AB Enzymes GmbH,
• E.I.du Pont de Nemours and Company,
• Advanced Enzyme Technologies Ltd.,
• Koninklijke DSM N.V.
• Amano Enzyme Inc.,
• BASF SE,
• DSM,
• DowDuPontInc,
• Roche
• Amano Enzymes Inc.
• Adisseo
• Codexis, Inc.
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc. (Affymetrix, Inc.)
Regional Analysis:
The report has analyzed the global Industrial Enzymes market in the following regions:
- America, North (the United States, Canada, and Mexico)
- European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia, and Rest of South America)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Industrial Enzymes market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
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COVID-19 Impact Analysis on Industrial Enzymes Market:
COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.
Key Questions Answered in the Industrial Enzymes Market Report are:
Which are the major companies in the Industrial Enzymes market?
Which is the potential market for Industrial Enzymes in terms of the region?
Which application area of Industrial Enzymes is expected to grow at a significant rate in the market in the next 5 years?
What are the opportunities for new market entrants?
What will be the Industrial Enzymes market size by 2030?
What are the growth prospects for the Industrial Enzymes market?
What is the base year considered in the Industrial Enzymes market report?
Which region holds the largest market share in the Industrial Enzymes market?
What factors are anticipated to drive the Industrial Enzymes market?
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