WASHINGTON, July 03, 2023 (GLOBE NEWSWIRE) -- Global Industrial Enzymes Market is valued at USD 7.1 Million in 2022 and is expected to reach a value of USD 11.1 Million by 2030 at a CAGR of 6.1% over the forecast period 2023-2030.
Several reasons have contributed to the tremendous rise of the industrial enzymes market in recent years. Growing environmental awareness, along with rigorous environmental legislation, has driven industry to seek more eco-friendly and efficient solutions. Enzymes provide a more environmentally friendly alternative to typical chemical processes by lowering waste output and energy usage.
Furthermore, biotechnology and genetic engineering breakthroughs have broadened the range of commercially viable enzymes. The capacity to create enzymes with improved features including stability, specificity, and activity has opened up new avenues for their use in a variety of sectors.
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Market Overview
According to Vantage Market Research, technological developments, rising demand from various sectors, rising environmental concerns, a trend towards bio-based goods, and economic benefits are expected to drive the Industrial Enzymes Market growth throughout the forecast period.
We forecast that Plant-based enzymes are anticipated to have strong growth throughout the projection period. The sector will expand rapidly because to the availability of cutting-edge technology for producing enzymes through plants at a low cost. Aside from fruits and vegetables, the product can be found in a variety of other foods. Plant-based foods are high in enzymes and can be either raw or cooked.
North America dominated the market in 2022, accounting for 32.7% of total revenue. This is due to a strong presence of numerous end-use enterprises in the food & beverage, laundry detergent, medicines, and personal care & cosmetics industries, as well as a considerable scope for R&D operations in major countries in the region.
Market Dynamics
Increasing demand from end-use industries to Drive the Market
Industrial enzymes are used in a variety of industries, including food and drinks, detergents, textiles, animal feed, biofuels, and medicines. The growing desire for environmentally friendly and sustainable solutions in various industries is increasing the use of industrial enzymes. Enzymes, for example, are utilized in the food and beverage industries for activities such as baking, brewing, dairy manufacturing, and fruit juice processing. Enzymes are used in the detergent business to improve the performance of laundry detergents. The increasing use of industrial enzymes across sectors is fueling market expansion.
Top Players in the Global Industrial Enzymes Market
- AB Enzymes
- Advanced Enzyme Technologies
- Amano Enzyme Inc.
- BASF SE
- Biocatalysts
- BioResource International Inc.
- Chr. Hansen Holding AS
- DuPont
- DSM
- Enzyme Development Corporation
- Lesaffre
- Novozymes
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Technological Advancements to Promote Market Growth
Industrial enzymes are protein-based catalysts that increase the rate of chemical reactions in industrial processes. Technological developments contribute significantly to the growth of the industrial enzymes market by enhancing enzyme production procedures, boosting enzyme stability and activity, and broadening the spectrum of applications. Scientists have been able to design more efficient and selective enzymes for many industrial processes thanks to advances in genetic engineering and enzyme engineering techniques. This has resulted in higher yields, lower manufacturing costs, and greater efficiency, fueling demand for industrial enzymes.
Top Trends in Global Industrial Enzymes Market
- One trend that Vantage Market Research (VMR) expects to see in the Industrial Enzymes industry is the growing environmental concerns. As people become more concerned about environmental sustainability, industries are looking for greener alternatives to standard industrial techniques. Industrial enzymes provide various environmental advantages, including lower energy consumption, less water consumption, and the use of renewable resources. This tendency is projected to continue driving the growth of the industrial enzymes market.
- Another trend that VMR predicts will continue in the Industrial Enzymes industry is shift towards bio-based products. The growing desire for bio-based alternatives, together with supporting government legislation, is propelling the use of industrial enzymes in this industry.
Top Report Findings
- Based on the Product, carbohydrase product segment dominated the market with the highest revenue share of 38.7% in 2022. This is due to its expanding application in a variety of industries such as animal feed, pharmaceuticals, and food and beverages, among others. It is primarily utilized as a catalyst in the conversion of carbohydrates into sugar syrups like fructose and glucose, which are then used in the pharmaceutical and food and beverage industries.
- Based on Application, the food and beverage application segment dominated the market with the highest revenue share of 32.4% in 2022. This is due to the increased use of enzymes in the manufacture of food and beverage items. Cheese processing, vegetable and fruit processing, oils and fats processing, grain processing, and other food processing industries such as baking, dairy, and brewing use both customized enzyme solutions and patented enzyme products.
- Based on Source, the microorganisms source segment dominated the market with the highest revenue share of 32.8% in 2022. This is due to the low cost of production and the ease with which microorganisms are available to enzyme makers. Microorganism-derived enzymes are categorized into three types: bacterial, fungal, and yeast enzymes. The majority of these items are used in detergent, culinary, and pharmaceutical applications.
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Product Launches and Acquisitions to Gain a Significant Position in the Global Market
The report also found that the largest players in the Industrial Enzymes Market are AB Enzymes, Advanced Enzyme Technologies, Amano Enzyme Inc., BASF SE, Biocatalysts, BioResource International Inc., Chr. Hansen Holding AS, DuPont, DSM, Enzyme Development Corporation, Lesaffre, and Novozymes. These players in the industrial enzymes market refer to companies or organizations involved in the production, distribution, and sale of industrial enzymes. These enzymes are used in various industries such as food and beverages, textiles, biofuels, pharmaceuticals, and more. For instance, Novozymes announced the merger with Chr. Hansen, a Danish company of agricultural, pharmaceutical, and food ingredients. This merger is a strategic move for Novozymes to strengthen its hold in the market in December 2022.
Plant-based Enzymes Category in the Industrial Enzymes Market to Maintain its Dominance in Near Future
Vantage Market Research has analyzed the market for Industrial Enzymes to understand its current state and potential future growth factors. The market for Industrial Enzymes will account for more than 29% of total sales in the category of plant-based enzymes owing to the accessibility of cutting-edge technology to produce enzymes through plants with very low investment, the industry will grow quickly. On the other hand, in 2022, microorganisms source segment dominated the market for Industrial Enzymes. This is attributable to the low production cost and easy availability of microorganisms to enzyme manufacturers.
Browse market data Tables and Figures spread through 140 Pages and in-depth TOC on Industrial Enzymes Market Forecast Report (2023-2030).
Global Industrial Enzymes Market Segmentation
By Formulation
- Lyophilized
- Liquid
- Dry
By Source
- Microorganism
- Plant
- Animal
By Type
- Carbohydrases
- Amylases
- Cellulases
- Other Carbohydrases
- Proteases
- Lipases
- Polymerases & Nucleases
- Other types
By Application
- Food & beverages
- Detergents
- Feed
- Bioethanol
- Soil treatment
- Paper & Pulp
- Textiles & Leather
- Wastewater treatment
- Oil treatment
- Other applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 7.1 Million |
| Revenue Forecast by 2030 | USD 11.1 Million |
| CAGR | 6.1% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | AB Enzymes, Advanced Enzyme Technologies, Amano Enzyme Inc., BASF SE, Biocatalysts, BioResource International Inc., Chr. Hansen Holding AS, DuPont, DSM, Enzyme Development Corporation, Lesaffre, Novozymes |
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