New York, US, June 22, 2021 (GLOBE NEWSWIRE) -- Industrial Enzymes Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Industrial Enzymes Market Information by Type, Application, Source and Region - Forecast till 2027” the market is projected to grow at a CAGR of 6.3% from 2020-2027.
Market Dynamics:
The demand for enzymes has increased with the growing need for more effective use of natural resources and decreased production costs. The enzymes speed up reaction time, enabling the use of more additives in order to optimize product efficiency. The market is driven by a widening diversity in enzyme applications and niche products, along with stringent environmental concerns. The growing biofuel industry, growing home cleaning industry, growing animal feed industry and growing food and beverage industry are projected to fuel the industry growth over the forecast period. Additionally, growth in the developed economies can be partially attributed to increased industrialization which includes the consumption of a wide variety of nutraceuticals. In addition, this has fueled demand for the product, on a large scale.
Demand for Industrial Enzymes Market is projected to rise from the feed and nutraceutical industries due to the rising food demand. Moreover, the consumers' awareness regarding nutrition is increasing, which is the driving factor behind the consumption of functional food products.
However, the development of the industry has been hampered by regulatory concerns relating to the handling of the enzymes and the tight vulnerability of the enzymes to environmental factors. Due to the susceptibility of enzymes to temperature and pH, the industry faces a number of challenges. These trends are expected to affect the development of the industry in the near future. However, key players are likely to benefit from the increasing acceptance in several end-use industries, including food, beverages, animal feed, biofuels and diagnostics.
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Competitive Landscape
The major players profiled in Report are:
- Chr. Hansen Holding A/S (Denmark)
- BASF SE (Germany)
- DowDuPont (US)
- Lesaffre (France)
- Associated British Foods PLC (UK)
- Koninklijke DSM N.V. (Netherlands)
- Dyadic International Inc. (US)
- Advanced Enzyme Technologies Ltd (India)
- Adisseo (China)
- Amano Enzyme Inc. (Japan)
- Codexis Incorporated (US)
- AB Enzymes (Germany)
- Novozymes A/S (Denmark)
- BioResource International Inc. (US)
- Cargill, Incorporated (US)
Browse In-depth Market Research Report (90 pages) on Industrial Enzymes: https://www.marketresearchfuture.com/reports/industrial-enzymes-market-8094
Segmental Analysis
The global Industrial Enzymes Market has been segmented based on type, application, source, and region.
By type, the global market has been classified as carbohydrases, proteases, lipases, and others. The carbohydrases segment has been further divided into amylase, glucanase, cellulase, and others. The carbohydrases segment outpaced others in 2018 due to its growing applications in the food and beverage industry, and its use in pharmaceuticals. Cellulase enzymes are contributing to the growth of the carbohydrases industry as an effective treatment for biofuel Although the others segment is expected to grow at the slowest rate due to the lack of demand and the need for new technologies.
Based on application, the global market has been classified as food and beverages, feed, detergents and cleaning, textiles, pharmaceuticals and nutraceuticals, and others. The food and beverages segment has been further divided into dairy, bakery, brewery, and others. The food and beverage segment is further broken down into different categories like dairy, bakery, brewery, and others. In 2018, the food and beverages segment was the largest in the sector in terms of market share, largely a result of the increasing application of enzymes in various food processing industries. However, the pharmaceutical and nutraceuticals segment is expected to grow the most quickly over the next several years.
As per source, the global market has been categorized as plant, animal, and microorganisms. The animal segment is projecting the fastest growth rate over the forecast years, while the microorganism’s segment is expected to grow the most during the five years. Microorganisms are easy to obtain, inexpensive, and contain a wide array of metabolic enzymes, which is why industrial enzyme producers find them appealing. Plant-based products are rich in enzymes and are easy to consume and digest. There is an increasing demand for bromelain as an anti-inflammatory, protein digestive aid, and for wound debridement treatments. Plant-based foods are seeing an increase in demand as they provide an aid to increasing digestion rates.
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Regional Analysis
The market for industrial enzymes in North America is expected to grow most of the major markets during the next decade. The rapid growth in agriculture contributes to the high demand for industrial enzymes in the region. The region is interested in obtaining industrial microbial enzymes in increasing quantities. The United States is the global leader in the world's industrial and chemical enzyme market. The high use of energy in the United States is related to awareness regarding green technologies addressing environmental issues, enhanced productivity, and improved product value leading to growth in research and development, as well as industries using enzymes. The growth of the U.S. industrial enzymes market is driven by greater use in the food and beverage industry, which will result in higher demand in the overall region.
As Europe is one of the major producers of medical, pharmaceutical and cosmetic products, they are the second largest consumer. The increasing presence of major pharmaceutical and cosmetic companies, such as Novartis AG, Sanofi, Hoffmann-La Roche Ltd., GlaxoSmithKline plc., AstraZeneca, Bayer AG, Novo Nordisk A/S, Merck KgaA, Unilever, L'Oréal, New Avon Company, Beiersdorf, and Henkel AG & Co. is expected to augment the demand for enzymes. Rising population and textile industry growth in the region are expected to create a high demand for enzymes in textile processing. This is due to Europe's prominence in the automobile industry, rail coach and aerospace industries. The growth in manufacturing in the region is expected to increase demand for wastewater treatment products in the future, thereby stimulating the market.
Industry Updates
February 2021: Renew Biopharma Inc., a pre-clinical drug discovery company, and Hypercann Agrogenetics Inc., signed an agreement to use Renew's proprietary enzymes to modify Cannabis plants for improved levels of cannabinoids. Hypercann licensed the use of Renew's best-in-class enzymes to create custom Cannabis plant varieties that are hyper-producers in production of one or multiple specified cannabinoids.
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