Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "Industrial Enzymes Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global industrial enzymes market has garnered significant attention within the biocatalyst sector, showcasing a noteworthy surge in market valuation and growth potential. A market size estimated to be around US$ 6.64 billion in 2023 is projected to reach approximately US$ 10.10 billion by the end of 2030, expanding with a compound annual growth rate (CAGR) of 6.17% between 2024 and 2030. This growth trajectory underlines the pivotal role that enzymes are currently playing across various industries and their anticipated widespread application in the future.
The enzymes market is increasingly becoming indispensable due to its diverse range of applications, benefiting sectors such as food & beverages, detergents, and biofuels, among others. Their critical role in enhancing product quality, shelf life, and process efficiency continues to drive demand for industrial enzymes globally. The carbohydrase segment, in particular, has emerged as a dominant force within the enzyme market, due to its extensive utilization in food, pharmaceutical, and beverage industries.
On the Basis of Application: Detergents and Biofuels to Fuel Market Growth
An informative segment of the global industrial enzymes market underscores the significant revenue generation by applications in detergents and biofuels. Detergents as an application subset are expected to see robust growth, propelled by the need for removing protein-based and greasy stains, where enzymes such as proteases and lipases play a vital role. Furthermore, the pressing necessity for sustainable energy sources is set to bolster demand for biofuels, subsequently influencing the biofuel enzymes market positively.
Microorganism-based Enzymes to Experience Notable Expansion
In terms of enzyme sources, the market sees microorganisms leading the way. Technological advancements in enzyme production techniques, such as the use of genetically engineered strains of microorganisms, are poised to further enhance the efficacy of enzymes used in various applications, thereby boosting market growth in this segment.
Regional Insight: North America Leads with Strong Growth Prospects
A detailed analysis of the industrial enzymes market at a regional level reveals that North America currently holds the lion's share of the market. The region's domination is underpinned by the robust presence of end-use businesses and the concentration of research and development initiatives that are pivotal to the innovativeness of the sector. This is particularly evident in the United States and Canada, where industrial enzymes have been witnessing growing demand across a broad spectrum of applications.
Key Industry Players Spearheading Market Innovations and Collaborations
The global industrial enzymes market landscape is characterized by the presence of established players who are known for their continuous innovation and strategic collaborations. Recent developments among these companies have further reinforced their positions in the market, not only promoting growth but also ensuring long-term sustainability within the industry.
- BASF SE
- Advanced Enzyme Technologies
- Novozymes
- DuPont Danisco
- DSM
- Kerry Group PLC
- Dyadic International Inc.
- Associated British Foods PLC
Comprehensive market analyses have delineated insights into the revenue patterns and business outlooks of these leading market entities, offering a panoramic view of the current dynamism evident in the enzymes space. The relentless pursuit of innovation, driven by these companies, inevitably shapes the future commercial scape of industrial enzymes.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $6.64 Billion |
| Forecasted Market Value (USD) by 2030 | $10.1 Billion |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/d3dlki
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