Newark, NJ, Feb. 17, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global lipase market is expected to grow from USD 585.56 million in 2020 and to reach USD 961.85 million by 2028, growing at a CAGR of 6.4% during the forecast period 2021-2028.
The increasing awareness among people about the need for healthy and non-chemical ingredients is driving the use of lipase enzymes in several industries, including animal feed. The major drivers of the global lipase market are the rise in consumption of processed dairy products and meat and increased awareness of animal health. Moreover, the various health benefits associated with the use of lipase in human bodies are also intended to boost the global lipase market.
Lipase is an enzyme which breaks down triglycerides into free glycerol and fatty acids. In pancreatic secretions, lipases are present and are responsible for fat digestion. In the mechanism of some medications indicated for lowering cholesterol, the function of lipase is also crucial.
Due to their substrate specificity, microbial lipases are widely used in the food industry. In organic solvents, they work under mild conditions and are highly stable. Lysophospholipase, phospholipase, triacylglycerol and so on are some of the common lipases used in the food industry. Increased lipase adoption for the production of house detergents and cleaning products in order to remove fatty residues is on the rise. In order to deliver products with improved efficiency, manufacturers are looking for different lipases, such as proteases and amylases. Also, increasing use of lipase in the field of biology and electronics, nanotechnology, the biosensors technology is experiencing significant progress. Applications such as the production of biodiesel, the synthesis of biopolymers, biotechnological applications, nutraceutical agents, and pharmaceutical applications have also successfully incorporated lipase as one of the major ingredients anticipated to further boost the growth of the global lipase market. However, a key limiting factor for market growth is the lack of transparency in laws and regulations relating to lipase patents worldwide.
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The key players operating in global lipase market are Amano Enzymes Inc., Advanced Enzymes, Clerici-Sacco Group, Chr. Hansen Holdings A/S, Enzyme Development Corporation, E. I. Du Pont De Nemours and Company (Genencor), Novozymes A/S, Koninklijke DSM N.V., and Renco New Zealand. To gain a significant market share in the global lipase market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in September, 2020, Chr. Hansen Holding A/S entered into an agreement to acquire all the shares of Jennewein Biotechnologie GmbH. This acquisition is in line with Chr. Hansen’ 2025 Strategy of pursuing acquisitions that strengthen and extend its fermentation and microbial technology platforms.
The microbial lipases segment held the largest market share of 61.64% in the year 2020.
On the basis of source, the global lipase market is segmented into animal lipases and microbial lipases. The microbial lipases segment held the largest market share of 61.64% in the year 2020. Increased microbial production, such as bacteria, yeast and fungi, is likely to boost the demand for microbial lipases due to catalytic behavior, high yield, and convenient genetic modification along with an increase in microbe rate. Detergents, food, textile industries, oil and fat, leather, pulp and paper, cosmetics and biodiesel production are key microbial applications.
Animal feed segment dominated the market and held the largest market share of 26.6% in the year 2020
On the basis of application, the global lipase market is segmented into animal feed, bakery, dairy, confectionery, others. The animal feed segment dominated the market and held the largest market share of 26.6% in the year 2020. Animal feed is rich in fiber, vitamins and mineral content that are used for the regulation of livestock metabolism. An increase in livestock production due to an increase in meat consumption will fuel lipase demand as useful enzymes. The need for animal nutritional intake combined with the yield of high-quality animal products for better meat should boost lipase market growth.
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Regional Segment of Lipase Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global lipase market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia Pacific accounted for the largest share of 33.8% in the year 2020. Favorable growth in bakeries and processed dairy products is projected to fuel global lipase market over the forecast period. Also, growing demand for processed foods, combined with rising awareness of health-conscious products, is a major driver of the growth of enzymes, including lipase, in the European food industry, which is thus fuelling the growth of the world market for lipase.
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About the report:
The global lipase market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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