WASHINGTON, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Global Industrial Enzymes Market is valued at USD 7.1 Million in 2022 and is projected to reach a value of USD 11.1 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 6.1% over the forecast period 2023-2030.
One of the most significant economic areas is the Industrial Enzymes business, and consistent expansion is projected going forward. Despite the industry's turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Industrial Enzymes, including rising investment requirements, developing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the key factors anticipated to accelerate the Industrial Enzymes market growth over the forecast period. One of the main factors that favorably affect the demand for Industrial Enzymes is the increasing trend of using enzymes as an alternative to chemical catalysts in various industries such as food & beverage, biofuel, animal feed, and others. In addition, enzymes are eco-friendly, cost-effective, and highly selective catalysts that offer various advantages over chemical catalysts.
Additionally, enzymes can provide higher yields and purity in industrial processes, leading to more efficient and sustainable production. Hence, the demand for enzymes proliferates, helping drive the global industrial enzymes market.
The North American industrial enzymes market is expected to grow due to the growing demand from several end-use industries, such as food and beverage, biofuels, and detergents. The increasing need for cost-efficient and sustainable industrial processes has led to the adoption of enzymes in various industries. Moreover, the rising trend of clean labels and organic products has also encouraged the use of enzymes in the food and beverage industry. The U.S. and Canada are the major markets for industrial enzymes in the region, with the U.S. accounting for the largest share. The key players operating in the North American industrial enzymes market include Novozymes, DuPont, DSM, and BASF.
Market Dynamics
Rising Demand from Food and Beverage Industry to Drive Market:
The food & beverage industry is a significant end-user of Industrial Enzymes. Enzymes are used to enhance the quality and texture of food products, increase their shelf life, and reduce the cost of production. The growing demand for processed & packaged foods and an increasing preference for clean labels and natural ingredients is expected to drive the market's growth.
Driving Sustainable Solutions in Various Industries
Industrial enzymes are high-performance bio-catalysts used in various industrial processes to accelerate the chemical reaction rate, increase productivity, and reduce energy consumption. These enzymes are used in different industries, including food and beverage, agriculture, pharmaceuticals, animal feed, and biofuels. The expanding demand for eco-friendly and sustainable solutions is driving the growth of the global industrial enzymes market. Furthermore, the continuous advancements in genetic engineering technologies and biotechnology are leading to the development of advanced and specialized industrial enzymes with high efficiency, specificity, and stability. Additionally, the increasing trend of adopting clean labels and natural ingredients in food and beverages is bolstering the demand for industrial enzymes. Therefore, the industrial enzymes market is likely to grow significantly, driven by the increasing demand for sustainable solutions in various industries.
Top Players in the Global Industrial Enzymes Market
- BASF
- Novozymes
- DuPont
- DSM
- Kerry
- Biocatalysts
- CHR. Hansen
- Amano Enzyme Inc.
- Biocatalysts
- Enzymatic Deinking Technologies
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Top Trends in Global Industrial Enzymes Market
- One trend that Vantage Market Research (VMR) expects to see in the Industrial Enzymes industry is the increasing demand for biofuels. The use of industrial enzymes in the production of biofuels is gaining popularity due to their ability to reduce production costs and improve the efficiency of biofuel production. The demand for biofuels is expected to increase due to the growing concerns about the environmental impact of fossil fuels.
- Another trend that VMR predicts will continue in the Industrial Enzymes industry is the technological advancements in enzyme engineering. Developing new enzymes through recombinant DNA technology and protein engineering is leading to the production of more efficient and cost-effective enzymes. The development & commercialization of new and improved enzymes are projected to drive the growth of the industrial enzymes market.
Top Report Findings
- Based on Formulation, the Lyophilized segment in the global industrial enzymes market is gaining traction due to its several benefits. Lyophilization enhances the stability of enzymes, prolongs their shelf lives, and facilitates their storage and transportation. It also increases their solubility, activity, and specificity, making them more effective in various industrial applications. This process finds extensive use in the food, feed, and pharmaceutical industries. Lyophilized enzymes are also eco-friendly and cost-effective, making them an attractive option for various industries.
- Based on the Source, the Microorganism category dominated the Industrial Enzymes market. This segment comprises enzymes produced by bacteria, fungi, and other microorganisms and is used in various industries, including food and beverage, agriculture, and biofuels. The increasing demand for sustainable and environment-friendly industrial processes has led to the growth of this segment. Additionally, genetic engineering and biotechnology advances have enabled the production of highly efficient microorganism-based enzymes, further fueling market growth.
- Based on Type, Carbohydrases account for a significant share of the global industrial enzymes market. These enzymes are used in various applications such as food and beverage, animal feed, biofuels, and pharmaceuticals. They assist in breaking down complex carbohydrates into simpler sugars, which are then utilized for various industrial processes. The rise in demand for processed food and the growing awareness of the benefits of enzymes in many industries are driving the growth of the carbohydrate segment in the global industrial enzymes market.
- Based on Application, the Food & Beverages category dominated the Industrial Enzymes market, and this trend is anticipated to continue. The industry relies heavily on these enzymes to enhance food products' quality, texture, flavor, and nutritional value. The demand for enzymes in the food and beverage sector is driven mainly by expanding consumer preferences for organic and natural food products, increasing awareness of healthy diets, increasing specialty enzymes, and adopting innovative production technologies.
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Top 10 Players Generates Most of the Revenue of Global Industrial Enzymes Market
The Industrial Enzymes market is highly consolidated, with a few key players accounting for a significant market share. Key players are engaging in strategic mergers, acquisitions, and collaborations to gain a competitive edge and expand their market presence. The report also found that the most prominent players in the Industrial Enzymes market include BASF, Novozymes, DuPont, DSM, Kerry, Biocatalysts, CHR. Hansen, Amano Enzyme Inc., Biocatalysts, and Enzymatic Deinking Technologies. As per latest report published by Vantage Market Research, the top 10 companies are responsible for generating most of the revenue of the global market.
Proteases Category in Industrial Enzymes Market to Generate Over 30% Revenue
Proteases are a type of enzyme that is involved in catalyzing the breakdown of proteins into smaller peptides and amino acids. They are widely used in numerous industries, including food and beverage, detergents, pharmaceuticals, and animal feed.
In the food and beverage industry, proteases are used for various applications, such as meat tenderization, dairy processing, and flavor development. In the meat industry, proteases break down tough muscle fibers, leading to more tender meat. They are also used to improve the texture of dairy products, such as yogurt and cheese. Proteases are also used in the production of beer and wine to break down proteins that can cause haze and off-flavors.
In the detergent industry, proteases are essential components of laundry detergents and stain removers. They break down protein-based stains, such as blood and grass, into smaller, more soluble fragments that can be easily washed away.
In the animal feed industry, proteases are used to increase the bioavailability of proteins in soybean and other plant-based feeds. This leads to more efficient digestion and better utilization of feed by animals, resulting in improved growth and production rates.
In the pharmaceutical industry, proteases are used to produce various drugs, such as insulin and blood clotting factors. They are also used to develop biologics, such as monoclonal antibodies and recombinant proteins.
Overall, the proteases segment is a crucial component of the global industrial enzymes market, and its demand is expected to continue to grow due to its diverse range of applications and increasing awareness of its benefits.
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 | BASF, Novozymes, DuPont, DSM, Kerry, Biocatalysts, CHR. Hansen, Amano Enzyme Inc., Biocatalysts, Enzymatic Deinking Technologies |
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