The Global Market For Industrial Enzymes Is Predicted To Be Valued At US$ 9 Billion By 2032

Posted on 2022-10-23 by Fact.MR in Chemicals // 0 Comments

Global sales of industrial enzymes are predicted to increase at a noteworthy CAGR of 3.9% from 2022 to 2032. At the end of 2021, the global industrial enzymes market size was valued at US$ 6 billion and is anticipated to top US$ 9 billion by the end of 2032. Demand for carbohydrases is expected to increase at a higher CAGR of 4.3% from 2022 to 2032, attributed to their high thermal stability, as well as their growing acceptance in food and biofuel industries. As such, this segment is predicted to account for around 44% of the global market share.

As per Fact.MR, a market research and competitive intelligence provider, from 2017 to 2021, the global industrial enzymes market experienced a CAGR of around 2.9%. Enzyme manufacturers now have the option of producing the required quantity of enzymes in designated production hosts such as transgenic plants and microorganisms, owing to advancements in technology such as genetic engineering. On a commercial scale, enzymes are produced utilizing appropriate microorganisms such as bacterial enzymes, fungal enzymes, and yeast enzymes.

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Which Industry Trends are Driving Global Industrial Enzymes Market Growth?

“Increasing Demand for Renewable Energy Sources & Eco-friendly Products”

Growing demand for sustainable and renewable alternatives is driving the demand for enzymes. Enzymatic hydrolysis is an important phase in the bioethanol manufacturing process, as it is where fermented sugars are obtained in the final fermentation process.

Biotechnology-based enzymes have long been recognized as a viable alternative to traditional chemicals and as a means of addressing issues associated with synthetic chemicals. Synthetic chemicals employed in industrial operations are hazardous to the environment.

Microorganisms-based enzymes, such as carbohydrases, have no negative environmental impact because they work under moderate settings, lowering energy usage and greenhouse gas emissions.

Benzoate-free enzymes are utilized to boost the nutritional content of food and feed. Enzymes reduce water use, chemical waste, and by-product formation while offering little danger to humans and the environment. Plant-derived enzymes are thought to be cost-effective, safe, and environmentally friendly.

What Favoring U.S. Industrial Enzymes Market Expansion?

“High Consumption of Specialized Enzyme Solutions Boosting Market Revenue”

The U.S. industrial enzymes market is projected to expand at a CAGR of 3.6% from 2022 to 2032. Due to the rising demand for processed foods and increasing enzyme uses in the processed food industry, consumption and sales of industrial enzymes in the United States are flourishing.

High consumption of specialized enzyme solutions in several industries is driving market growth in the U.S.

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Competitive Landscape

Industrial enzyme manufacturing companies are pursuing the quick adoption of innovative technologies to improve product quality and increase their competitive share through strategic initiatives such as mergers, new product development, and acquisitions.

For instance :

In 2021, Novozymes and Novo Nordisk Pharmatech partnered to develop best-in-class technical enzymes to support biopharmaceutical production solutions.

Key Competitors:

AB Enzymes
Advanced Enzyme Technologies
Amano Enzyme Inc.
BASF SE
Biocatalysts
BioResource International Inc

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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Which Industry Trends are Driving Global Industrial Enzymes Market Growth?

What Favoring U.S. Industrial Enzymes Market Expansion?

Competitive Landscape

Key Segments Covered in Industrial Enzymes Industry Research

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