Lewes, Delaware, Aug. 05, 2024 (GLOBE NEWSWIRE) -- The Global Industrial Enzyme Market Size is projected to grow at a CAGR of 6.54% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 7.67 Billion in 2024 and is expected to reach USD 12.73 Billion by the end of the forecast period.
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Browse in-depth TOC on “Global Industrial Enzyme Market Size”
202 - Pages
126 – Tables
37 – Figures
Scope Of The Report
| REPORT ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Novozymes, DuPont, DSM, BASF, AB Enzymes, Amano Enzyme Inc., Chr. Hansen Holding A/S, Kerry Group, Roquette Frères, Enzyme Development Corporation. |
| SEGMENTS COVERED | Type, Application, & Geography |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Industrial Enzyme Market Overview
Increasing Demand in Food & Beverage Industry: The Industrial Enzyme Market is witnessing strong growth as a result of the increasing demand for processed and convenient foods. Enzymes play a crucial role in improving the quality, texture, and shelf life of food, which has led to their widespread use in the food processing industry. The increase in demand directly leads to the expansion of the market and improved profitability.
Advancements in Biotechnology: Exciting developments in biotechnology are transforming the Industrial Enzyme Market. Advancements in enzyme engineering and production techniques are enhancing the efficiency and affordability of enzymes. The advancements in technology are driving the expansion of the market by allowing for wider implementation in different sectors.
Shift Towards Sustainable Processes: The growing emphasis on sustainability is a major factor influencing the Industrial Enzyme Market. Enzymes facilitate environmentally conscious industrial processes by minimizing the need for chemicals and reducing waste. The increasing focus on environmentally-friendly technologies and sustainable manufacturing practices is driving market demand and growth.
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High Production Costs: The Industrial Enzyme Market faces a major hurdle with the considerable expenses involved in production. The intricacy of enzyme production and purification processes results in increased expenses, which in turn affects pricing strategies. This limitation can impede the expansion of the market as it restricts the affordability and availability of industrial enzymes.
Regulatory Hurdles: Regulatory hurdles pose a significant challenge in the Industrial Enzyme Market. Strict regulations and lengthy approval processes for enzyme applications can cause significant delays in product launches and result in higher compliance costs. These challenges can hinder market growth by creating obstacles to entering and expanding.
Competition from Synthetic Alternatives
There is fierce competition in the Industrial Enzyme Market from synthetic enzyme alternatives. These synthetic alternatives provide cost advantages and reliable performance, posing a threat to the dominance of natural enzymes in the market. The intense competition in the market can limit the growth of the industry by affecting the demand for conventional industrial enzymes.
Geographic Dominance:
North America is a leading player in the Industrial Enzyme Market, thanks to its thriving biotechnology sector and strong demand from the food and beverage and biofuel industries. Europe closely monitors the progress, motivated by strict environmental regulations that encourage the adoption of sustainable practices. The Asia-Pacific region is experiencing a significant rise, with a growing focus on industrial development and the widespread use of enzymes across multiple industries. The strong presence in these key regions has a significant impact on market growth, as it drives the allocation of research funding, regulatory frameworks, and investment towards these areas.
Industrial Enzyme Market Key Players Shaping the Future
Major players, including Novozymes, DuPont, DSM, BASF, AB Enzymes, Amano Enzyme Inc., Chr. Hansen Holding A/S, Kerry Group, Roquette Frères, Enzyme Development Corporation. and more, play a pivotal role in shaping the future of the Industrial Enzyme Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry's key players.
Industrial Enzyme Market Segment Analysis
Based on the research, Verified Market Research® has segmented the global Industrial Enzyme Market into Type, Application, And Geography.
To get market data, market insights, and a comprehensive analysis of the Global Industrial Enzyme Market, please Contact Verified Market Research®.
- Industrial Enzyme Market, by Type
- Amylases
- Cellulases
- Proteases
- Industrial Enzyme Market, by Application
- Food & Beverage
- Cleaning Agents
- Textiles
- Animal Feed
- Pulp and Paper
- Industrial Enzyme Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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