Growing Industrial Enzymes Market Will Have Higher Growth Owing To Increasing Applications

 

Industrial Enzymes Market

The industrial enzymes market comprises of enzymes which are used across various end use industries such as food & beverages, household care, bioenergy, agriculture & feed and others. Industrial enzymes find wide applications in food processing such as baking, brewing, dairy, meat tenderizing and winemaking among others. They are used as food additives to promote texture, taste and shelf life of food products. The growing demand for processed and convenience food is propelling the demand for industrial enzymes significantly.

The Global industrial enzymes market is estimated to be valued at US$ 7.53 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Industrial Enzymes Market are Advanced Enzyme Technologies, Lesaffre, Adisseo, Enzyme Development Corporation, BASF SE, Novozyme, DuPont Danisco, DSM, Novus International, Associated British Foods plc., and Chr. Hansen Holding A/S. Industrial enzymes find wide application in food processing industries which is driving the market growth. Technological advancements in enzyme engineering is further propelling the industrial enzymes market.

The industrial enzymes market is experiencing high growth owing to increased consumption of processed food worldwide. Wide applications of industrial enzymes in various food products such as bakery, dairy, beverages and other processed food has augmented the market growth tremendously. Additionally, rising demand for low calorie, trans-fat free and other health beneficial food products has also contributed to the increased used of industrial enzymes.

Various technological advancements have been done in the field of industrial biotechnology which has positively impacted the industrial enzymes market. Advancements such as enzyme immobilization, directed evolution, protein engineering and fermentation technology has led to development of new enzymes with improved thermal stability, pH tolerance and broader substrate specificity. This has enabled their usage across diverse industrial applications.

Market Trends
The industrial enzymes market is shifting towards development of cost effective and environment friendly products. Manufacturers are investing heavily in research & development to produce industrial enzymes through sustainable processes without the use of harsh chemicals. Secondly, with rising health awareness, the demand for highly specific enzymes with novel functionalities is increasing across food & beverage and pharmaceutical industries. This has compelled manufacturers to focus on enzyme engineering and genome mining to develop tailored industrial enzymes.

Market Opportunities
Growing applications of industrial enzymes in biofuel production is opening new avenues of growth. With rising focus on renewable sources of energy, industrial enzymes play a critical role in conversion of lignocellulosic biomass into fermentable sugars for production of cellulosic ethanol and other biofuels. Secondly, increased investments in industrial biotechnology by leading manufacturers will further propel product innovations. This is expected to bring novel industrial enzymes with enriched functionalities in coming years.

Impact of COVID-19 on Industrial Enzymes Market growth
The COVID-19 pandemic has significantly impacted the industrial enzymes market. Disruptions to supply chains and production due to lockdowns globally led to a decline in demand in key end use industries like food processing, textiles, laundry and detergents in 2020. However, increased focus on hygiene, cleanliness and home care products supported market growth during this period. Sales of household and personal care enzymes surged for cleaning, washing and disinfecting applications. With economic recovery underway and easing of lockdowns, the market is projected to bounce back, especially due to increased enzyme usage in food processing as availability of varied food products assumes greater importance. Rising demand for renewable and eco-friendly products is further expected to drive the market post pandemic as enzymes offer sustainable solutions compared to chemical alternatives. Although short term uncertainty exists, long term market growth prospects remain positive with the usage of industrial enzymes expanding to newer areas like animal feed, leather and paper industries.

Geographical regions where market in terms of value is concentrated
North America currently dominates the industrial enzymes market due to huge demand from industries like food processing, animal feed, textiles and detergents. The presence of leading global players and advanced end user industries makes the US and Canada the highest revenue generators. Asia Pacific is expected to be the fastest growing regional market going forward with China and India spearheading growth. Increasing population, rising disposable incomes and burgeoning food processing sector in these nations are major demand drivers. Additionally, growing environmental consciousness in the region is propelling demand for sustainable enzyme solutions in key markets like fabric care, animal nutrition and pulp & paper.

Fastest growing region for Industrial Enzymes Market
Asia Pacific is projected to be the fastest growing region for the industrial enzymes market during the forecast period. Surging demand for processed and quality foods from expanding middle class populations in developing nations is a prime factor contributing to market growth. Flourishing end user industries like textiles, detergents, paper and biofuel coupled with rising awareness about environmental and performance benefits of enzymes over chemicals will significantly drive the APAC market. Countries like China, India and Indonesia are likely to be at the forefront of growth on account of rapid industrialization, favourable government policies and strong foothold of global enzyme manufacturers in the region. Large untapped opportunities exist in APAC for industrial enzymes in leather processing, animal feed and renewable applications.

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