Global Industrial Enzymes Market Future Growth Dynamics 2022: CAGR of 6.30% Forecast During 2022-2028, with Market Set to Reach USD 9,276.34 Million by 2028 | Vantage Market Research

WASHINGTON, March 21, 2022 (GLOBE NEWSWIRE) -- According to a new market research report " Industrial Enzymes Market Size, Share & Trends Analysis Report by Formulation (Lyophilized, Liquid, Dry), by Source (Microorganism, Plant, Animal), by Type (Carbohydrases, Amylases, Cellulases, Other Carbohydrases), by Application (Food & beverages, Detergents, Feed, Bioethanol), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)", published by Vantage Market Research, the global post COVID-19 market size of the Industrial Enzymes Market is expected to grow from USD 6,429.50 Million in 2021 to USD 9,276.34 Million by 2028 at a CAGR of 6.30% during the forecast period.

Synopsis:

The use of enzymes helps in ensuring the better quality of the product along with lower manufacturing cost, less wastage, and low energy consumption which is increasing industrial enzyme demand during the forecast period. Increasing demand for Industrial Enzymes Market extracted from animal feed and nutraceutical industries is projected to boost the growth of the Industrial Enzymes Market in the upcoming years. Moreover, awareness among consumers regarding health is increasing which is driving the consumption of functional food products thereby fueling the enzymes product demand in the years to come. Furthermore, the growing requirement for Industrial Enzymes Market products from the various industries such as home cleaning, animal feed, biofuel, and food and beverage is projected to fuel the growth of the Industrial Enzymes Market in the years to come. Growth in the developed countries can be allocated to the growth in industrialization along with the advancement in the nutraceutical sector which is fueling the growth of Industrial Enzymes Market during the forecast period. The advanced technologies in enzymes engineering, green chemistry, and the new innovations in genetically engineered enzymes are boosting the demand for enzymes in the upcoming years. The flexible benefits of Industrial Enzymes Market lead to use in various advanced technologies and various applications in order to reduce chemical consumption speed up the growth of the Industrial Enzymes Market growth in the upcoming years.

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Industrial Enzymes market is predicted to grow at a CAGR of roughly 6.30% during the forecast period.
• The Industrial Enzymes market was estimated to be worth roughly USD 6,429.50 Million in 2021 and is expected to reach USD 9,276.34 Million by 2028; based on primary research.
• On the basis of region, North America is projected to dominate the worldwide Industrial Enzymes market.
  

List of Prominent Players in the Industrial Enzymes Market

• BASF (Germany)
• Novozymes (Denmark)
• DuPont (US)
• DSM (Netherlands)
• ABF (UK)
• Kerry (Ireland)
• Advanced Enzyme Technologies (India)
• CHR. Hansen (Denmark)
• Amano Enzyme Inc. (Japan)
• Aumgene Biosciences (India)
• Megazyme (Ireland)
• Enzyme Supplies (UK)
• Creative Enzymes (US)
• Enzyme Solutions (US)
• Enzymatic Deinking Technologies (US)
• Biocatalysts (UK)
• Sunson Industry Group (China)
• Metagen (Finland)
• Denykem (UK)
• Tex Biosciences (India)

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Market Dynamics:

Drivers:

The increasing demand for bioethanol and the advanced technologies in Research and Development activities, and the rising environmental concerns are propelling the growth of the market during the forecast period. The optimum utilization of resources and the increasing requirement of cost reduction in production is increasing the demand for Industrial Enzymes Market during the forecast period. Growth in the demand for bioethanol has increased the utilization of enzymes for the production of bioethanol which is expected to increase the growth of Industrial Enzymes Market in the upcoming years.

Challenges:

High costs of raw materials limit the use of enzymes which is hampering the growth of the Industrial Enzymes Market during the forecast period. Lack of transparency in patent laws in several countries is expected to limit the growth of the Industrial Enzymes Market in the upcoming years. The major challenge faced by the industry sector involving the high sensitivity of enzymes in the temperature and product handling security concerns is hampering the Industrial Enzymes Market growth in the coming years.

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Regional Trends:

In 2021, North America region is expected to acquire the largest market share and is expected to maintain its lead in the upcoming years. Due to the presence of a few industries such as laundry detergent, food and beverage, personal care, and cosmetics is increasing the demand for Industrial Enzymes Market in the region of North America. The increase in scope for research and development activities for enzymes is also a major reason for the growth of the Industrial Enzymes Market in this region. The increasing population and rapidly growing textile industries in the North American region are expected to fuel the demand for enzymes in the industrial sector in the upcoming years.

Recent Developments

• On May 2021, Advanced Enzyme Technologies Ltd has announced that the Board of Directors (BOD) has sanctioned the acquisition of an additional stake of 15% of the equity share capital of JC Biotech Private Limited (70% subsidiary of the company).
• On February 2021, Novozymes, the world leader in biological solutions, is arriving in the biocontrol sector of agriculture along with promising enzyme-based technology expanding beyond its current microbial products and innovation base.

Browse market data Tables and Figures spread through 140 Pages and in-depth TOC on "Industrial Enzymes Market Size, Share & Trends Analysis Report by Formulation (Lyophilized, Liquid, Dry), by Source (Microorganism, Plant, Animal), by Type (Carbohydrases, Amylases, Cellulases, Other Carbohydrases), by Application (Food & beverages, Detergents, Feed, Bioethanol), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/industrial-enzymes-market-market-558627

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Industrial Enzymes Market?
• How will the Industrial Enzymes Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Industrial Enzymes Market?     
• What is the Industrial Enzymes market drivers and restrictions?
• What will be the CAGR and size of the Industrial Enzymes Market throughout the forecast period?       

The report on the Industrial Enzymes Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates, and Forecast
• Company Profiles
• Global and Regional Dynamics
  

This market titled “Industrial Enzymes Market” will cover exclusive information in terms of Geographic Segmentation, Forecast, Regional Analysis, Key Market Trends, and various others as mentioned below.

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