Industrial Enzymes Market:
Growth opportunities in the Industrial Enzymes Market look promising over the next six years. This is mainly due to the growth in food products with natural flavors and tastes along with the continuous endorsement by the governmental bodies to promote their products.
Industrial Enzymes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global industrial enzymes market is forecasted to experience robust growth in demand in the near future. The augmenting demand from enormous end-use industries, which include food and beverage, animal feed, and biofuel, is one of the most prominent drivers responsible for the market growth. Also, the vigorous demand for carbohydrase and proteases in food and beverage prosecution, primarily in emerging countries such as Japan, India, and China, has strengthened the industrial enzymes market size. In addition, they are progressively implemented across animal feed and nutraceutical sectors. Furthermore, the surging inclination towards the consumption of processed and packaged food items has raised market growth.
In accordance with the market analysis, the food processing sector gauges for nearly 37% of the total share of the market. Consumers are largely seeking food products with organic tastes and flavors, which have persuaded companies to launch flavored and tasty food employing these enzymes. Enormous enzymes, which include lipase, glucosyltransferase, chymosin, and beta-glucanase, are contemplated as an essential part of the global food additives sector. In addition to this, as per the industrial enzymes market overview, the ongoing government support concerned with taxes & subsidies on food production, along with the modernization of trade practices across countries, has paved the way for market growth. For example, the free trade agreement such as the North America Free Trade Agreement (NAFTA) and Trans-Pacific Partnership (TPP) assists in enlarging the international exchange activities among various countries.
Regional Drivers
Based on the regional coverage, North America is predicted to lead the market during the forecast period. This is mainly attributed to the strong prevalence of several sectors such as pharmaceuticals, food and beverages, laundry, personal care, and cosmetics. On the other hand, Europe is projected to witness a faster CAGR during the forecast period. The European nations are the leading consumers of pharmaceutical, medicinal, and cosmetics products. Various major players such as Henkel AG & Co., GlaxoSmithKline plc, Novo Nordisk A/S, Novartis AG, Sanofi, and other companies have a widespread existence in the nation.
Industrial Enzymes Market’s leading Manufacturers:
- Megazyme Ltd.
- Amano Enzyme Inc.
- Advanced Enzyme Technologies
- DSM
- Novozymes
- Aumgene Biosciences
- Hansen Holding A/S
- Kerry
- DuPont
- BASF SE
Industrial Enzymes Market Segmentation:
Segmentation by Type
- Carbohydrase
- Lipase
- Protease
- Others
Segmentation by Application
- Food & Beverages
- Bio-Fuel
- Textile & Leather
- Detergents
- Paper & Pulp
- Wastewater Treatment
- Others
Segmentation by Source
- Plant
- Animal
- Microorganism
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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