Industrial Enzymes Market Size, Share & Trends Analysis By Type, By Source, By Application, By formulation Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Industrial Enzymes Market Size, Share & Trends Analysis By Type, By Source, By Application, By formulation Regional Outlook, Competitive Strategies and Segment Forecasts to 2030

Global Industrial Enzymes Market is projected to be worth USD 12.3 billion by 2030

According to SPER Market Research, the Industrial Enzymes Market estimated to reach USD 12.3 billion by 2030 with a CAGR of 7.2%. Better product quality with a lower manufacturing cost and lesser waste and energy consumption can be achieved by the use of enzymes. The advancement in Enzyme engineering, Green Chemistry, introduction of genetically engineered enzyme is the driving factor for the growth of the Industrial Enzymes Market.

Impact of COVID-19 on the Tablet Coatings Market

The outbreak of COVID-19 pandemic pushed people to change their dietary habit and life style. This leads to eating healthy and nutritious food with a balanced intake of enzymes and other energy sources. Therefore, there is high demand for fortified foods & beverages infused with nutritional enzymes and other healthy ingredients. On the other hand, the demand for dairy products, bakery & confectionery products, and juices is anticipated to increase with the increase in awareness regarding enzyme-infused products.

Scope of the report:

Market size available for years
2019-2030

Base year considered

2021

Forecast period

2022-2030

Segments covered

By type, By Source, By Application, By Formulation, By Region

Geographies covered

North America, Asia Pacific, Europe, South America and Rest of the World

Companies Covered

ABF, Advanced Enzyme Technologies, Amano Enzyme Inc., Aumgene Biosciences, BASF, Biocatalysts, CHR. Hansen, Creative Enzymes , Denykem , DSM , DuPont , Enzymatic Deinking Technologies, Enzyme Solutions , Enzyme Supplies ,Kerry, Megazyme , Metagen, Novozymes , Sunson Industry Group, Tex Biosciences

Drivers: Switch toward renewable sources of energy lead to increasing consumption of bio ethanol

In search for sustainable and renewable alternative sources, a non-renewable source, such as fossil fuels, has increased during the last few decades. The Enzymatic hydrolysis in bio ethanol production presents a fundamental step. Bio ethanol is prepared from agricultural waste containing corn stalks, leaves, bagasse of sugarcane, sugar beet, sorghum stalks, wheat, barley, rye. Ethanol produced from biomass can be used as a substitute, extender, or octane booster as an alternative for traditional motor fuels, such as gasoline, diesel, and kerosene.

Challenges: High costs of raw materials limiting the usage of enzymes

Enzymes are expensive to produce; the high cost of raw materials used in enzyme manufacturing, highly temperature-sensitive and can be denatured by even a small increase in temperature, toxic with a change in pH, as they are sensitive to external factors in the manufacturing process. In addition contamination of the enzyme with other chemical substances used in food & beverages can affect the chemical reaction, which would result in massive wastages. Therefore, these factors result in a rise in costs involved while considering enzymes as raw material, thereby creating a challenge for the market.

Opportunities:Demand for natural substitutes of synthetic chemicals

Problems related to synthetic chemicals can be sorted out by Enzymes; recognized as alternatives to traditional chemicals. Enzymes reduce water consumption and chemical waste and decrease by-product generation, posing negligible risks to humans and the ecosystem. Thus, the use of enzymes is considered cost-effective, safe, and environmentally friendly.

The plants and microorganisms derived enzyme carbohydrases, have no negative impact on the environment as they work under mild conditions, thus reduce greenhouse gas emissions and energy consumption. Carbohydrases are utilized in the textile, starch processing, and bioethanol production industries. To obtain high yields with cleaner products the leather industry has switched to proteases and trypsin over lime and sulfides. The bakery industry uses Amylase and protease to get maximum output. The nutritional value of food and feed products are enhanced by Enzymes.

Global Industrial Enzymes Market, By Type:

Based on the type, Global Industrial Enzymes Market is segmented as; Amylases, Carbohydrases, Cellulases, Lipases, Other Carbohydrases, Other types, Polymerases & Nucleases, Proteases.

Global Industrial Enzymes Market, By Source:

Based on the Source, Global Industrial Enzymes Market is segmented as; Animal, Microorganism, Plant.

Global Industrial Enzymes Market, By Application:

Based on the Application , Global Industrial Enzymes Market is segmented as; Food & beverages ( Bakery & Confectionery products, Dairy products, Beverages, Sugar, Meat processing products, Nutraceutical, Other food & beverages), Detergents ( Laundry detergents, Automatic dishwashing detergents, Other detergents), Feed (Ruminant Feed, Swine Feed, Poultry Feed, Aqua Feed, Other Feed), Bio ethanol, Soil treatment, Paper & Pulp, Textiles & Leather, Wastewater treatment, Oil treatment, Other applications.

Global Industrial Enzymes Market, By Formulation:

Based on the Formulation, Global Industrial Enzymes Market is segmented as; Dry, Liquid, Lyophilized.

Global Industrial Enzymes Market, By Region:

The North American region is the largest market for industrial enzymes, The North American industrial enzymes market is because of their industrial applications, technological advancements have made enzymes available for a wide range of applications.