USD 6.53 billion
Report ID: SQSG35J2004 | Region: Global | Published Date: April, 2023 | Pages: 247 | Tables: 69 | Figures: 75
Industrial Enzymes Market size was valued at USD 6.53 billion in 2021 and is poised to grow from USD 6.95 billion in 2022 to USD 11.42 billion by 2030, growing at a CAGR of 6.4% in the forecast period (2023-2030).
The increasing demand for bioethanol and growing environmental concerns is the key aspect of the rise in the market revenue of Industrial Enzymes. As well as the multiple functions of enzymes will substitute for Industrial Enzymes Market growth. The Global Industrial Enzymes Market report provides a general assessment of the Industrial Enzymes Market.
Industrial Enzymes are used for preparing cheese, alcohol, bread, and fruit drinks. Enzymes are complex proteins, which help exaggerate biochemical reactions. These enzymes are largely used in the food beverage industry and in cleaning machinery in the industry. They are extracted from plant tissue, animal tissue, and microorganisms cells. Industrial Enzymes are largely created by the fermentation process. These are authorized by numerous industries to ensure the standards and stability of their products with improved production efficiency. They also help provide eco-friendly products to consumers owing to using less energy, water, and raw materials and generating less waste.
COVID-19 has emphasized the importance of consuming healthy and nutritious food. with a balanced consumption of enzymes and other carbohydrate sources. Fortified foods beverages infused with nutritional enzymes and other healthy ingredients are seeing an increase in demand. The Industrial Enzymes Market for meat products is expected to record a much inferior growth rate due to the dislike of meat products among consumers. However, the demand for bakery sweet products, dairy products, and juices is projected to surge with the rise in health concerns and increase in awareness regarding enzyme-mixed products.
US Industrial Enzymes Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 6.53 billion
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The Global Industrial Enzymes Market is segmented based on Type, Application, and Region. Based on Type it is categorized into Carbohydrases, Proteases, Lipases, Polymerases & Nucleases. Based on Application it is categorized into Food & Beverages, Bioethanol, Feed, Detergents, Wastewater, Soil, and Oil Treatment. Based on the Region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Industrial Enzymes Market Analysis by Type
Carbohydrases dominated the Industrial Enzymes Market in 2021, accounting for more than 47% of global sales. Carbohydrase enzymes are used in a variety of applications, such as pharmaceuticals, animal feed, and food and drinks. Carbohydrates are primarily used as a catalyst for the conversion of carbohydrates, such as fructose and glucose, into sugar syrup, which is then used in the pharmaceutical and food and beverage sectors. Another well-known product is a protease, which is widely utilized in food, pharmaceuticals, detergents, animal feed, chemicals, and photography for protein breakdown and catalytic hydrolysis of protein peptides to amino acids. Proteases that are often found include serine, threonine, cysteine, aspartate, papain, glutamic acid, and metalloproteases.
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In 2021, the North American region dominated the industrial enzymes market. The Industrial Enzymes Market in this region has reached the developed stage, and the consumption of enzymes has become standard practice. According to a Survey in 2020, North America witnessed a steady growth of 2% in feed production over the year. This is due to the increase in the growth of major kinds, with beef and poultry leading at 3% each.
Technological advancements in this region have made enzymes accessible for a good range of uses, and this segment is estimated to drive the growth of the market within the region. This region is anticipated to be the largest Industrial Enzymes Market owing to the development of new and superior performing products in the given forecast.
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The Global Industrial Enzymes Market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the Industrial Enzymes Market are BASF, Novozymes, Advanced Enzyme Technologies, and Amano Enzyme Inc. among others who are driving the Industrial Enzymes Market.
Industrial Enzymes Market Top Player’s Company Profiles
Industrial Enzymes Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the North American region dominated the industrial enzymes market. The market in this region has reached the developed stage, and the consumption of enzymes has become standard practice. It has witnessed a steady growth of 2% in feed production over the year. This is due to the increase in the growth of major kinds, with beef and poultry leading at 3% each. Carbohydrases dominated the Industrial Enzymes Market in 2021, accounting for more than 47% of global sales.
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|Market size value in 2021||USD 6.53 billion|
|Market size value in 2030||USD 6.95 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Industrial Enzymes Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Enzymes Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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