industrial-enzymes-market

Industrial Enzymes Market By Type (Carbohydrases , Proteases, Polymerases & Nucleases, Lipase , Phytase , Others P), By Application ( Foods & Beverages, Personal & household care, Animal feeds , Bio-energy, Others), By formulation (Lyophilized , Liquid Dry ), By source (Microorganism , Plant, Animal) - Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

18 Oct 2022 Format PDF icon PPT icon XLS icon Request Sample

Enzymes are protein molecules which are produced by all living creatures which acts as a catalyst increasing the pace of chemical reactions quickly and efficiently without changing their own chemical structure. These protein molecules when used for processing and manufacturing in industries, is termed as industrial enzymes.

Potential global industrial enzymes market drivers are increasing demand for food & beverages, lifestyle changes and increase in disposable income. Government plans aimed to encourage production of biofuel to substitute fossil fuel and conventional source of energy is anticipated to boost the global industrial enzymes market. In addition to this, rapid advancement in biotechnology especially in the study of protein engineering is another factor driving the growth of the market.

Rise in investments in food & beverage industry and pharmaceutical industry is soaring the global industrial enzymes market. Industrial enzymes also play a very crucial role in determining attributes such as taste, appearance, texture in food & beverages applications. Apart from this, recent advancements in enzyme technology coupled with innovation in genetically modified enzymes have lured industrial enzymes manufacturers to optimize yield efficiently. Psychrozymes, which is a next generation industrial enzyme is expanding the application segments of industrial enzymes in food & beverage, personal and household care, animal feeds, bio-energy and others.   

By type, global industrial enzymes market is segmented into carbohydrases, proteases, polymerases & nucleases, lipases, phytases and others among which carbohydrases and proteases hold larger market share mainly driven by food & beverages and animal feed industry respectively. However, proteases which dominate the market segment is also used to manufacture detergent, used in biofuel industries, food processing industry for traditional applications like cheese, curd etc.  

On basis of application, the market is segmented into food & beverages, personal & household care, animal feeds, bioenergy and others among which food & beverages in 2023 held the largest market share attributed to increase in disposable income and rising demand for food & beverages. In addition to this, carbohydrases is widely used in food processing and biofuel manufacturing thus fuelling the growth of industrial enzymes market. Apart from this, bio-energy sub-segment is also anticipated to grow at a rapid rate mainly due to its environment-friendliness coupled with government initiatives encouraging usage of renewable resources.

On the basis of geography, global industrial enzymes market is segmented into North America, Europe, Asia- Pacific, Latin America, and Middle East & Africa. In 2023, North America was the market leader mainly attributed to increase in demand for food, rising population, increase in disposable income, increase in investments on food and beverage industry coupled with government regulations to increase usage of biofuel. Owing to rapid demand and increasing adoption of industrial enzymes in North America, manufacturers are focusing on expanding its operation which in turn is driving this market.

For instance, in 2018, AB enzymes inaugurated warehousing and distribution centers in North America with an objective to cater to wide consumer base. However, Asia Pacific is expected to witness the fastest growth owing to rapidly increasing population, increase in per capita income, expenditure for health treatment and rapid advancement in technology mainly in China and India. Middle East and Africa are forecasted to be emerging markets during the forecast period.

Market Dynamics

Drivers: Switch toward renewable sources of energy lead to increasing consumption of bioethanol

Restraints: Action of enzymes restricted to various external factors

Opportunities: Demand for natural substitutes of synthetic chemicals

Challenges: High costs of raw materials limiting the usage of enzymes

Key players across the global industrial enzymes market value chain are:

BASF SE, E.I. DuPont de Nemours and Company, Associated British Foods Plc, Koninklijke DSM N.V, Novozymes A/S, Codexis Inc., Amano Enzyme Inc., AB Enzymes, Dyadic International, Chr. Hansen, DuPont Danisco, DSM, Novus International, Associated British Foods plc, Advanced Enzyme Technologies, Lesaffre, Adisseo, Enzyme Development Corporation, Kerry Group (Ireland), Royal DSM, Biocatalysts, BioResource International Inc., Others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Industrial Enzymes market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Industrial Enzymes market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Type
  • Carbohydrases
  • Proteases
  • Polymerases & Nucleases
  • Lipase
  • Phytase
  • Others

Application
  • Foods & Beverages
  • Personal & household care
  • Animal feeds
  • Bio-energy
  • Others

formulation
  • Lyophilized
  • Liquid
  • Dry

source
  • Microorganism
  • Plant
  • Animal

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Industrial Enzymes market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Industrial Enzymes market?
  • Which is the largest regional market for Industrial Enzymes market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Industrial Enzymes market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Industrial Enzymes market worldwide?
Choose Licence Type
$4500
$6500
$9000
Why Acute
View Other Reports