Industrial Enzymes Market share, size & Forecast

Industrial Enzymes Market share, size & Forecast

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Industrial Enzymes Market

GMI Research anticipates that the Industrial Enzymes Market to witness a significant Compound Annual Growth Rate over the forecast period (2020-2027).

The factors driving the growth of Industrial Enzymes Market includes the increasing use of industrial enzymes across biofuel, food & beverage and animal feed industries along with growing demand for carbohydrase and proteases in developing Countries such as China, India, and Brazil. As per the report from Bloomberg, the Nutraceuticals Market was valued around USD 449.5 billion in 2021 and is projected to increase its size to about USD 745.5 billion by 2028, which will increase the Industrial Enzymes Market size due to the growing application of Industrial enzymes in nutraceutical industry. In addition, the rising consumption of packaged and processed food items has boosted the growth of Global Industrial Enzymes Market. Moreover, the increasing Government’s support through taxes and subsidies on food items and growing number of trade deals, will further increase the Industrial Enzymes Market share. For example, Comprehensive Economic Partnership Agreement (CEPA) between the Government of India and Republic of India and United Arab Emirates (UAE) and The United States-Mexico-Canada Agreement (USMCA) will benefit workers, farmers, and businesses.

Some of the prominent players operating in the market are Aumgene Biosciences, DSM, Kerry, Advanced Enzyme Technologies, BASF SE, Megazyme Ltd., Chr. Hansen Holding A/S, Amano Enzyme Inc., Novozymes, DuPont among others.

Type – Segment Analysis

Based on the type, the carbohydrase segment is estimated to grow at a faster CAGR over the forecast period due to its increasing use in textiles & leather, detergents, and other sectors. As per the Industrial Enzymes Market Report, the carbohydrase needs less space, time, and can be modified easily, which helps in optimizing the process, will further increase the market size in the coming years.

Application – Segment Analysis

Based on the application, the Food & Beverages segment is projected to lead the market during the forecast period, due to the growing application of enzymes in food and beverage sector along with its use in dairy products and processed fruit and vegetables.

The detergent segment is anticipated to grow at a higher CAGR over the forecast period due to growing consumer inclination towards protease and Amylases enzymes. It helps in removing protein stains and starchy food products such as custards, mashed potatoes, and chocolate.

Regional – Segment Analysis:

Based on the region, North America is anticipated to lead the market during the forecast period due to growing demand for industrial enzymes in pharmaceuticals, laundry, and personal care industries.

Europe is projected to grow at a faster CAGR during the forecast period due to the presence of the leading pharmaceutical, medicinal, and cosmetics companies. According to the financial statement of Astra Zeneca, the total Revenue increased by 41% and Core EPS increased by 32% during FY2021.

Market Segmentation

Global Industrial enzymes Market by Type

·         Carbohydrase

·         Lipase

·         Protease

·         Others

Global Industrial enzymes Market by Application

·         Food & Beverages

·         Biofuel

·         Textile & Leather

·         Detergents

·         Paper & Pulp

·         Wastewater Treatment

·         Others

Global Industrial enzyme Market by Source

·         Plant

·         Animal

·         Microorganism

Global Industrial Enzymes Market by Region

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

 

·         North America

o   United States of America

o   Canada

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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