The growth in market revenue for industrial enzymes will be driven by rising environmental concerns and demand for bioethanol, as well as the multi-functionality of enzymes.
Covid-19 Impact & Market Status
COVID-19 has the potential to impact the global economy in three ways: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on enterprises and financial markets.
Covid-19 outbreak has been affecting multiple businesses and industries leading to interrupted travel, lockdown, social distancing and the like. These have restricted normal functioning of the businesses and resulted in supply chain anomalies, lack of business co-ordination across vendors and the like.
Carbohydrases Type Segment is accounted for Highest Revenue during the Prediction Period
During the forecast period, the carbohydrases category is expected to dominate the market. cellulases, Amylases, and other carbohydrases are the three types. Carbohydrases are employed in a variety of industries, including drinks, food, textiles, detergents, and leather, as well as bioethanol.
Food & Beverages Segment is Likely to Register Highest Revenue during the Forecast Period
Because of the growing use of enzymes in the food and beverage sector, there is a major increase in demand for industrial enzymes. Food additives and processing aids are two types of enzymes used in the food and beverage industries. However, the majority of enzymes used in food and beverage products are considered processing aids, with just a few exceptions, such as invertases and lysozymes being utilised as additions.
North America Region to Dominate the Market during the Predicted Period
North America is expected to dominate the global market during the forecast period. Enzymes are now accessible for a wide range of applications thanks to technological improvements in this area, and this category is expected to drive market expansion in the region. Due to the development of unique and better performing items as well as worldwide industrialisation, this area is expected to be the largest market.
Enzymes are also being used more often in the bioethanol and food & beverage sectors in this region. The industrial enzymes market in North America is expected to increase as a result of these factors. The United States is the leading country in the North American industrial enzymes market; however, the industry in this area has matured, and enzyme usage has become commonplace.
The market for industrial enzymes will rise over the forecast period owing to rising product demand from end-use sectors such as household cleaning, biofuel, animal feed, and food and beverage across the world. The growing innovations and advances are expected to boost the market growth in the near future.
Chemical reactions are accelerated by industrial enzymes, which are biological catalysts. Pharmaceuticals, chemicals, biofuels, food, feed, diagnostics, detergents, textile, paper, and leather sectors, among others, employ industrial enzymes.
The need for industrial enzymes is steadily increasing, owing to the increasing requirement for long-term solutions. Microbes are the most prevalent source of commercial enzymes due to their extensive biochemical variety and the practicality of large-scale manufacturing.
The global Industrial Enzymes market is projected to be around USD 9.7billion by 2028, at a CAGR of 6.5% during the prediction period.
Food and beverage, detergents applications are predicted to account for a major portion of Industrial Enzymes over the projection period. The expansion of sector, as well as research and developments in the industrial enzymes market, are responsible for the rise in demand for industrial enzymes.
The market is predicted to develop due to rising demand for industrial enzymes from the animal feed and nutraceutical industries. Furthermore, as consumer knowledge of health grows, so does the desire for functional food items, which will increase product demand in the future years. High sensitivity of enzymes to temperature and pH, as well as product handling security issues, are among the industry's challenges.
In the near future, these variables are expected to have an impact on market growth. Key companies, on the other hand, are anticipated to gain from the growing adoption of their products in a variety of end-use industries, including animal feed, biofuels, food and beverages, and diagnostics.
The global Industrial Enzymes industry is very competitive and is anticipated to become even more so in the future years. However, the growing number of competitors is expected to boost overall market growth over the projection period.
BASF SE, Novozymes, DSM, Associated British Foods plc, DuPont Danisco, Advanced Enzyme Technologies, Adisseo, Enzyme Development Corporation, Lesaffre, Chr. Hansen Holding A/S, and Novus International among others are some of the key competitors operating in the global Industrial Enzymes market.
Latest Innovations in the Global Industrial Enzymes Market: a Snapshot
- Novozymes has increased its footprint in East Africa. As a result, the firm was able to fulfil the region's need for enzyme goods.
- S-Biomedic NV was taken by DSM. S-Biomedic NV is a skin microbiome firm that focuses on a novel approach to the skin microbiome's aesthetic and therapeutic possibilities.
- Kerry Group has increased its footprint in Moscow by opening its first facility. The facility will produce ingredients for the meat processing and snacking industries.
This market research study was created by compiling data from primary and secondary sources. Secondary research was conducted using a variety of sources, including (but not limited to) SEC filings, company websites, technical journals, paid data sources, financial reports, and other industry publications. In addition, to acquire first-hand data, the research methodologies perform comprehensive primary research with important industry players. Industry specialists then examine and validate the data.
Industrial Enzymes Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 9.7billion|
|Growth Rate||CAGR of 6.5% during 2021-2028|
|Segment Covered||Type, Application, Source, Form, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||BASF SE, Novozymes, DSM, Associated British Foods plc, DuPont Danisco, Advanced Enzyme Technologies, Adisseo, Enzyme Development Corporation, Lesaffre, Chr. Hansen Holding A/S, and Novus International among others|
Key Segments of the Global Industrial Enzymes Market
Type Overview, 2018-2028 (USD Billion)
- Other carbohydrases
- Polymerases & nucleases
- Other types
Source Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Food & beverages
- Textiles & leather
- Paper & pulp
- Wastewater treatment
- Other applications
Form Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa