Industrial Enzymes Market
Industrial Enzymes Market - Global Industry Assessment & Forecast
- By Formulation Lyophilized, Liquid, Dry
- By Source Microorganism, Plant, Animal
- By Type Carbohydrases, Amylases, Cellulases, Other Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, Other types
- By Application Food & beverages, Detergents, Feed, Bioethanol, Soil treatment, Paper & Pulp, Textiles & Leather, Wastewater treatment, Oil treatment, Other applications
|Forecast Years:||2022 - 2028|
|Historical Years:||2016 - 2021|
|Revenue 2021:||6,429.50 USD Million|
|Revenue 2028:||9,276.34 USD Million|
|Revenue CAGR (2022 - 2028):||6.30%|
|Fastest Growing Region (2022 - 2028)||2,128.16 USD Million|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Industrial Enzymes Market
Global Industrial Enzymes market is valued at 6,429.50 USD Million in 2021 and is projected to reach a value of 9,276.34 USD Million by 2028 at a CAGR of 6.30% over the forecast period.
Growth in the awareness among consumers regarding health and fitness is increasing which is driving the consumption of functional food products which is fueling the demand of enzymes products in the upcoming years. Moreover, the use of enzymes helps in ensuring the improved quality of products with low manufacturing cost, low energy consumption, and less wastage which is increasing the demand of enzymes during the forecast period. The increasing demand for the Industrial Enzymes products from the end-user industries such as home cleaning, biofuel, and food and beverage, and animal feed is expected to fuel the growth of Industrial Enzymes market in the years to come. The flexible benefits of Industrial Enzymes give rise to use of Industrial Enzymes in various advanced technologies and various applications in order to reduce chemical consumptions speed up the growth of Industrial Enzymes market growth in the upcoming years. Growth in the developed economies can be allocated to the growth in industrialization along with the improvement in nutraceutical sector which is fueling the growth of Industrial Enzymes during the forecast period.
Industrial Enzymes Market Size, 2021 To 2028 (USD 9,276.34 Million)
The Industrial Enzymes market is segmented on the basis of Formulation, Source, Type, and application. Based on Formulation the market is segmented as Lyophilized, Liquid, and Dry. By Source the market is segmented as Microorganism, Plant, and Animal. Based on Type the market is segmented as Carbohydrases, Amylases, Cellulases, Other Carbohydrases, Proteases, Lipases, and Polymerases and Nucleases. Based on application the market is segmented as Food and beverages, Detergents, Feed, Bioethanol, Soil treatment, Paper and Pulp, Textiles and Leather, Wastewater treatment, Oil treatment, and Other applications
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Micro-organism segment holds the largest market share during the forecast period
Micro-organism based enzymes are segmented in three types, namely bacterial, yeast, and fungal enzymes. Bacterial enzymes are sourced from Bacillus. Fungi based products are leading owing to their mounting usage in several end-use industries which is expected to increase the demand of enzymes in upcoming years. Moreover, fungal enzymes have multiple uses as they play an important role in preparation and production of different food products, such as beer, soy sauce, processed fruits, dairy items, and baked items which is driving the growth of Industrial Enzymes during the forecast period.
Food and beverage segment is expected to grow at a highest CAGR during the forecast period
Industrial Enzymes play an important role in preparing nutritious food and beverage products. Proprietary enzyme products and customized solutions are used in fruits and vegetable processing, fats and oil processing, and cheese processing and also in other food processing industries like dairy, bakery, and brewing. Moreover, specialized enzyme solutions help food and beverage manufacturers in maintaining good quality of final product, with decreased cost, and reduced wastage which is growing the demand of enzymes in food and beverage segment during the forecast period.
North America region is expected to continue its dominance during the forecast period
In 2021, North America region had a major share in the global Industrial Enzymes market. Growth in the technological advancement have made enzymes available for a wide range of applications such as Detergents, Feed, Bioethanol, Soil treatment, Paper and Pulp, Textiles and Leather which is increasing the growth of enzymes in North America. The United States is the dominating country in the North American Industrial Enzymes market and contributing in the market growth during the forecast period. The increase in scope for research and development activities for enzymes is also a major reason for the growth of Industrial Enzymes market in this region. The increasing population and fast developing textile industries in the North America region are expected to fuel the demand of enzymes in the industrial sector in the upcoming years.
The growing awareness among consumers regarding the preventive health and dietary solutions & formulations that supports immunity which is very essential now-a-days. The major players in the Industrial Enzymes market are adopting various innovative strategies for the growth of market in various fields such as soil treatment, bioethanol, Food and beverages, Detergents, Feed, Paper, Textiles and Leather, Wastewater treatment, and Oil treatment. Some of the prime market players are BASF (Germany), Novozymes (Denmark), DuPont (US), DSM (Netherlands), ABF (UK), Kerry (Ireland), Advanced Enzyme Technologies (India), CHR. Hansen (Denmark), Amano Enzyme Inc. (Japan), Aumgene Biosciences (India), Megazyme (Ireland), Enzyme Supplies (UK), Creative Enzymes (US), Enzyme Solutions (US), Enzymatic Deinking Technologies (US), Biocatalysts (UK), Sunson Industry Group (China), Metagen (Finland), Denykem (UK), Tex Biosciences (India).
Industrial Enzymes Market is segmented as follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Industrial Enzymes Market is tabulated as follows:
Frequently Asked Question
What is the global demand for Industrial Enzymes in terms of revenue?
The global Industrial Enzymes valued at 6,429.50 USD Million in 2020 and is expected to reach 9,276.34 USD Million in 2028 growing at a CAGR of 6.30%.
Which are the prominent players in the market?
The prominent players in the market are BASF (Germany), Novozymes (Denmark), DuPont (US), DSM (Netherlands), ABF (UK), Kerry (Ireland), Advanced Enzyme Technologies (India), CHR. Hansen (Denmark), Amano Enzyme Inc. (Japan), Aumgene Biosciences (India), Megazyme (Ireland), Enzyme Supplies (UK), Creative Enzymes (US), Enzyme Solutions (US), Enzymatic Deinking Technologies (US), Biocatalysts (UK), Sunson Industry Group (China), Metagen (Finland), Denykem (UK), Tex Biosciences (India)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 6.30% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Industrial Enzymes include
- use of enzymes helps in ensuring the improved quality of products with low manufacturing cost, low energy consumption, and less wastage
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Industrial Enzymes in 2020.