New York, United States, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Alcohol enzymes are proteins used to produce alcoholic beverages. In addition, this also contains brewing enzymes. Animals, plants, and microbes make them. The primary function of an enzyme is to convert complex carbohydrates into simple sugars, thereby speeding up and reducing the cost of a process. Both brewing and alcohol production includes several enzyme-dependent activities. Enzymes are used to modify beer formulas to produce customized beers, such as low-calorie beers, to support massive manufacturing. Several enzymes can be used to expedite the brewing or fermentation processes. Enzymes play a role in the bioethanol production process, with bioethanol-producing biorefineries being the principal consumers of alcohol enzymes.
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Demand from Alcoholic Beverages Industry and Biofuel Industry to Drive the Global Alcohol Enzymes Market
Changes in disposable income and lifestyles have influenced global consumption patterns, resulting in a demand for packaged beverage products and other fast-moving consumer goods (FMCG). The youngest generation is the largest consumer of alcoholic beverages. Millennials have recently favored liquor and other spirits over beer and wine. No longer loyal to previous brands or particular wine varieties, young consumers no longer demonstrate brand loyalty. They are constantly in search of novel beverages. This allows distillers to offer new products by utilizing locally accessible ingredients, thereby increasing product diversity.
This shift in consumer preferences has led to an increase in the production of alcoholic beverages. In addition, the proliferation of online alcohol sales has increased the demand for alcoholic drinks and premium alcoholic beverages in countries such as the United States. The growth of the younger population and the expansion of the alcoholic beverage market is expected to significantly impact the demand for food processing aids, specifically alcohol enzymes. Enzymes offer craft brewers and distillers flexibility regarding raw material quality and type, increased throughput, taste control, and uniform product quality from small-batch production. Consequently, the alcoholic beverage industry is driving the global alcohol enzyme market.
Between 2015 and 2040, global energy consumption is anticipated to increase by 28%. Consequently, there is a growing demand for renewable and sustainable energy options to meet the rising global demand. Due to the anticipated depletion of fuel energy sources, bioethanol has become an important alternative energy source. Therefore, it is essential to invest in bioethanol production. Moreover, during fluctuations in oil supply, ethanol's position as a substitute predominates and permits shock absorption. Excessive reliance on oil imports poses a persistent threat to the economy and environment; as a result, the production and use of ethanol increase a nation's energy security. Government regulations mandating the blending of ethanol with gasoline also contribute to the rise in fuel ethanol demand. These factors increase the demand for bioethanol production, which drives the global alcohol enzymes market.
The Production of Low-Cost Enzymes to Create Global Alcohol Enzymes Market Opportunities
Future development and optimization of catalytic proteins are essential for the growth of the market for industrial enzymes, particularly alcohol enzymes. Utilizing genetic engineering techniques, it is possible to increase enzyme production. It is anticipated that introducing new products will aid market participants in gaining a competitive advantage. DuPont, for example, will release Spezyme HN Alpha-Amylase Blend in June 2020 for ethanol liquefaction and viscosity reduction at various temperatures and pH levels. Numerous enzyme properties, including catalytic activity, thermostability, and specificity, can be enhanced in industrial settings. Consequently, such product launches present opportunities for the alcohol enzymes market to grow further.
Regional Insights
The Asia Pacific will command the market with the largest share while growing at a CAGR of 6.1%. The increasing population and demand for enzymes are presently driving market expansion in these nations. Biofuels are a component of China's goal to obtain 22% to 24% of its energy from renewable sources by 2030. Japan has pledged to reduce its greenhouse gas (GHG) emissions by 26% by 2030, relative to 2013 levels, following the Paris Agreement. Japan's efforts to combat climate change and maintain a stable energy supply include the biofuel program. China ratified the Paris Agreement in September 2016 and has committed to reaching peak CO2 emissions before 2030, reducing the CO2 intensity of its fuel, increasing the share of renewable energy in its primary energy mix to 20%, and expanding its forest stock. The expansion of the alcohol enzymes market is anticipated to be fueled by such commitments over the forecast period.
Europe will expand at a CAGR of 3.5% during the forecast period. Germany and the United Kingdom dominate the European market for alcohol enzymes. Due to its size, wealth, and keen interest in premium imported distilled spirits, Germany is a significant market for U.S. distilled spirits producers. According to a survey conducted by the Distilled Spirits Council of the United States, imported spirits comprise approximately 65% of the market's value. In response to the growing demand for craft whiskey, numerous microdistilleries have sprung up across the nation. During the forecast period, it is anticipated that the continued expansion of the craft distillery industry will generate new opportunities for the German alcohol enzymes market.
Key Highlights
- Based on type, the carbohydrase section is envisioned to grow at a CAGR of 5% and hold the largest market share.
- Based on end-user, the food & beverages sector is envisioned to grow at a CAGR of 4.9% and hold the largest market share.
- Based on regional analysis, the Asia Pacific will command the market with the largest share while growing at a CAGR of 6.1%.
Competitive Players in the Market
- Advanced Enzyme Technologies
- Associated British Foods Plc
- BASF SE
- Biotechnology Research
- Information Network AG
- Creative Enzymes
- DSM Royal
- DuPont
- Kerry Group Plc
- Laffort
- Novozymes
Market News
- In 2022, BASF SE and Confoil jointly launched DualPakECOâ. The paper tray's interior is coated with ecovio® PS 1606 from BASF, a partially bio-based and certified biodegradable biopolymer explicitly developed for coating paper or board food packaging.
Global Alcohol Enzymes Market: Segmentation
By Type
- Carbohydrase
- Proteases
- Lipases
- Others
By End-User
- Food & Beverages
- Pharmaceutical
- Chemical
- Cosmetics
- Biofuel
- Others
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
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