United States, Rockville, MD, June 09, 2022 (GLOBE NEWSWIRE) -- As per industry analysis by Fact.MR, a market research and competitive intelligence provider, the global industrial enzymes market is projected to expand at a CAGR of 3.9% and reach a market value of US$ 9 billion by the end of 2032.
Factors such as rising bioethanol demand, expanding product utilization in detergent manufacture due to qualities such as enhanced stain removal, and capacity to work in low temperatures are driving demand for industrial enzymes.
In addition, rising demand for enzymes as a result of tightening environmental rules on chemical use is expected to boost the market for industrial enzymes. In future energy systems, increasing the availability of renewable energy sources would replace fossil fuels and reduce the dominance of carbon-intensive fossil fuels. As a result, researching and exploiting renewable energy sources such as solar, wind, and bioenergy has become important in addressing environmental issues.
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Furthermore, rising adoption of enzymes in the food industry for the production of various dairy products, growing demand for digestive and nutritional enzymes, and increased usage as a result of numerous eco-friendly industrial activities will all contribute to market growth going forward.
Key Takeaways from Market Study
- Global industrial enzymes market to reach valuation of US$ 9 billion by 2032.
- Market in North America projected to increase at CAGR of 3.6% over forecast period.
- Market in APAC accounts for 36.6% share of global market.
- Demand for carbohydrases expected to rise at CAGR of 4.3% from 2022 to 2032.
“Rapid industrialization, new product improvements, and application base expansions are expected to create several opportunities for industrial enzyme manufacturers over the coming years,” says a Fact.MR analyst
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Winning Strategy
Market players are focusing on leveraging current, environmentally-friendly technology to tailor products, improve their qualities, and set them apart from their competitors. The attention of market players has switched to the appearance of on-site enzyme production.
For instance,
- In 2020, DuPont collaborated with its Food and Beverage platform and the Institute for the Future (IFTF), the world's foremost future institution. The agreement intends to enhance the vision in food & beverage development that forecasts industry changes.
Key Segments Covered in Industrial Enzymes Industry Research
- Industrial Enzymes Market by Product Type :
- Carbohydrases
- Proteases
- Lipases
- Other Product Types
- Industrial Enzymes Market by Application :
- Technical
- Feed Additives
- Food Processing
- Industrial Enzymes Market by End Use :
- Food & Beverages
- Detergents
- Animal Feed
- Personal Care & Cosmetics
- Nutraceuticals
- Textiles
- Other End Uses
- Industrial Enzymes Market by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global industrial enzymes market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product type (carbohydrases, proteases, lipases, other product types), application (technical, feed additives, food processing), and end use (food & beverages, detergents, animal feed, personal care & cosmetics, nutraceuticals, textiles, other end uses), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Our chemicals and materials consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the chemicals and materials sector. Our expertise in recognizing the challenges and trends impacting the global chemicals and materials industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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