New York, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Enzymes Market Size is to Grow from USD 6.97 Billion in 2022 to USD 12.92 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.37% during the projected period. Global demand for bread and fruit juices is expected to fuel demand for industrial enzymes. This factor is predicted to help the sector thrive in coming years.
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Enzymes are biological catalysts that accelerate chemical reactions, making them crucial in a variety of industrial processes. The increasing demand for sustainable and eco-friendly solutions is driving the growth of this market, as enzymes enable more efficient and environmentally friendly production processes. The global industrial enzymes market is undergoing remarkable growth and transformation as it plays an important role in a variety of industries around the world. One of the primary drivers of this expansion is a growing awareness of the negative environmental effects of traditional chemical processes. Industrial enzymes are a more environmentally friendly option because they reduce the need for harsh chemicals, reduce energy consumption, and reduce waste production. This has accelerated their use in industries such as food and beverage, biofuels, detergents, textiles, and pharmaceuticals. Furthermore, there has been an increase in the use of enzymes in the food and beverage industry to improve product quality, extend shelf life, and enhance flavor profiles. Enzymes are used in brewing, baking, dairy, and meat processing, demonstrating the market's wide range of applications. The cost of enzyme production and purification is a significant restraint in the industrial enzymes market. Enzyme production frequently involves complex fermentation processes, and the costs of research, development, and large-scale production can be significant. This can make enzyme-based solutions more expensive for some industries, particularly small businesses.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Industrial Enzymes Market Size, Share, and COVID-19 Impact Analysis, By Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), By Application (Food & Beverages, Bioethanol, Feed, Detergents, Wastewater, Soil, and Oil Treatment), By Source (Microorganism, Plant, and Animal), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The proteases segment is expected to grow at the fastest pace in the global industrial enzymes market during the forecast period.
The global industrial enzymes market is divided into carbohydrases, proteases, lipases, polymerases, and nucleases. The proteases segment, among these, is projected to expand at the fastest rate in the global industrial enzymes market during the forecast period. Proteases, also known as proteolytic enzymes or peptidases, help proteins hydrolyze into peptides and amino acids. They are used in industries such as detergents (to remove stains), food processing (to tenderize meat), leather processing, and pharmaceuticals.
The oil treatment segment is expected to grow at highest pace in the global industrial enzymes market during the forecast period.
The global industrial enzymes market is segmented by application into food and beverages, bioethanol, feed, detergents, wastewater, soil, and oil treatment. Oil treatment is projected to expand at the fastest rate in the global industrial enzymes market during the forecast period. The oil treatment segment contributes to the overall market by catering to various industries and applications. Lipases are used in oil treatment to change the properties of fats and oils for use in a variety of industrial applications such as food, cosmetics, and biofuel production.
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Asia Pacific is expected to grow at the fastest pace in the global industrial enzymes market during the forecast period.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global industrial enzymes market. Because of the expanding food and beverage industry, increasing industrialization, and growing awareness of enzyme applications, the Asia-Pacific region has seen rapid growth in the industrial enzymes market. The region is both a producer and a consumer of enzymes.
North America is expected to hold the biggest portion of the global industrial enzymes market in the coming years. North America has a well-established industrial enzymes market, which is fueled by the presence of major enzyme manufacturers and a strong emphasis on technological advancements. The diverse industries of the region, such as food and beverages, biofuels, and pharmaceuticals, all contribute to the demand for industrial enzymes.
During the forecast period, Europe is projected to expand at a significant pace in the industrial enzymes market. Europe is a major market for industrial enzymes, particularly in the food and beverage industries, where the use of enzymes is well-established. The region also emphasizes sustainability and environmentally friendly solutions, which drives enzyme adoption even further.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Industrial Enzymes Market include BASF SE, Novozymes, DuPont Danisco, DSM, NOVUS INTERNATIONAL, Associated British Foods Plc, Chr. Hansen Holding A/S, Advanced Enzyme Technologies, Lesaffre, Adisseo, BioProcess Algae, LLC, Koninklijke DSM N.V., and Others.
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Recent Developments
- In January 2023, BASF and Cargill expanded their collaboration to encompass the manufacturing and distribution of feed enzymes in the United States. Together, the two firms are committed to developing market-leading enzyme-based solutions and adding value to animal feed consumers. The companies will create a shared innovation pipeline for animal protein producers by combining Cargill's application experience and market reach with BASF's strengths in enzyme research and development.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Industrial Enzymes Market based on the below-mentioned segments:
Global Industrial Enzymes Market, By Type
- Carbohydrases
- Proteases
- Lipases
- Polymerases & Nucleases
Global Industrial Enzymes Market, By Application
- Food & Beverages
- Bioethanol
- Feed
- Detergents
- Wastewater
- Soil
- Oil Treatment
Global Industrial Enzymes Market, By Source
- Microorganism
- Plant
- Animal
Global Industrial Enzymes Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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