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Global Industrial Enzymes Market: By Type (Proteases, Polymerases & Nucleases, Lipase, and Others), By Application (Food Processing, Personal & Household Care, Pharmaceuticals, Textiles, Cosmetics, Leather Processing, Pulp & Paper, and Others), By Source (Animals, Plants, and Micro-organisms), and Geography - Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global industrial enzymes market was valued at US$ XX Mn in 2017 and expected to grow at 6.0% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Industrial Enzymes Market
Industrial enzymes are commercially used in a variety of industries such as pharmaceuticals, chemical production, food & beverages etc. Industrial enzymes are molecules or complex proteins, which help catalyze biochemical reaction. Industrial enzymes are used for the production of fruit drinks, alcohol, bread, and cheese. They are generally extracted from microorganisms, animal and plant tissues. Industrial enzymes are environmental friendly and helps in substituting non-renewable chemicals which decreases the production of harmful wastes.
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Market Dynamics: Industrial Enzymes Market
The industrial enzymes market is majorly driven by increasing demand for food and beverages owing to changing lifestyles. The advancements in the biotechnology, mainly in the field of protein engineering is adding aid in the innovation of new products which is helping the manufacturer in the expansion. Moreover, increasing investment in the food and beverage and pharmaceutical industry is expected to drive the overall industrial enzymes market growth. Increase in the consumption of processed food and packaged food around the world, leads to a rise in demand for the industrial enzymes in various countries. The strong demand for enzyme-rich food and beverages is also one of the major factor responsible for the growth in the industrial enzymes market. However, stringent regulation the over the use of industrial enzymes is constraining the growth of the market. Factors such as, concerns regarding safety and quality of the product, regulatory concerns are hindering the industrial enzymes market growth.
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Market Scope: Industrial Enzymes Market
Industrial enzymes market is segmented based on the type, application, and source
Based on the type, the market is segmented into the following:
Carbohydrases
o Cellulases
o Amylases
o Others
Proteases
Polymerases & Nucleases
Lipase
Others
Based on the application, the market is segmented into the following:
Food Processing
o Bakery Applications
o Dairy Applications
o Brewing Applications
o Others
Personal & Household care
Pharmaceuticals
Textiles
Cosmetics
Leather Processing
Pulp & Paper
Others
Based on the source, the market is segmented into the following:
Animals
Plants
Micro-organisms
Regional Analysis: Industrial Enzymes Market
Geographically, global industrial enzymes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America industrial enzymes market is growing due to increase in demand for food and huge investments in food and beverages industry. The rising disposable income of people over the food and beverages affecting the growth of the industrial enzymes market positively in Asia-Pacific region. Followed by North America is the European region and Asia Pacific regions. Asia Pacific is expected to show highest growth over the forecast period owing to population explosion and riding demands for food in the Asia Pacific region is driving the growth of the industrial enzymes market.
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Competition Assessment: Industrial Enzymes Market
Some of the players in the global industrial enzymes market include:
Koninklijke DSM N.V (Netherlands)
Novozymes A/S (Denmark)
BASF SE (Germany)
E.I. DuPont de Nemours and Company (U.S.)
Associated British Foods Plc (U.K.)
DSM (Netherlands)
Notable Market Developments: Industrial Enzymes Market
In July 2016, DSM launches new enzyme solutions at IFT17 to improve softness and moistness of gluten-free bread.
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