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Global Industrial Enzymes Market: Focus on Developing Novel Products with new Functions for End-use Industries to Create Lucrative Avenues, notes TMR
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Some of the leading players operating in the market include Koninklijke DSM N.V., Advanced Enzyme Technologies Ltd., E.I.du Pont de Nemours and Company, AB Enzymes GmbH, Associated British Foods (ABF) plc., Novus International Inc., Codexis Inc., Novozymes A/S, and Chr. Hansen A/S.
Bustling with several promising opportunities, the global industrial enzymes market is prognosticated to expand at a CAGR of 8.8% from 2017 to 2025 and touch a valuation of US$12,844.4 million by the end of the forecast period. The market was worth US$6,067.4 million in 2016.
The various types of industrial enzymes can be categorized into phytases, carbohydrases, proteases, polymerases and nucleases, lipases, and other types. Carbohydrases and proteases segments jointly account for the leading share in the market, attributed to their extensive uptake in industries such as food and beverages and animal feed.
On geographic front, North America held the leading market share in 2016, fueled largely by sizeable investment in food and beverages industry. However, Asia Pacific is anticipated to rise at the most promising CAGR growth over the forecast period. The growth is driven by a burgeoning demand in several developing economies such as India and China.
industrial enzymes marketWidespread Application in Food and Beverages Processing to Accentuate Market
The industrial enzymes market is driven primarily by the substantially rising adoption of these in the food and beverages processing. The striking strides experienced by the food and beverages industry in various parts of the world is boosting the market. The proliferating demand for enzymes in various industrial processes is supported by a burgeoning worldwide population with vast rise in their disposal incomes. The market is expected to immensely benefit from several government initiatives to boost the adoption of biofuels in developing and developed nations.
The surge in demand for these industrial enzymes in the pharmaceutical industry is accentuating the growth of the market. The use of industrial enzymes in producing high-quality cost-effective products for the food and beverages industry leading to economy in large-scale processing of food. This is a noteworthy factor catalyzing the growth of the market. Remarkable advances made in the field of biotechnology, notably in protein engineering methods, assisted by the use of high-throughput screening techniques are aiding in the rapid expansion of the market.
A surge in investment in food and beverages and pharmaceutical industries bodes well for the market. However, spiraling consumer concerns pertaining to adverse perceptions about the safety of these enzymes is proving to be a marked roadblock for market players. The huge investment required for research and development activities for digestive enzymes is another key concern crippling the growth of the market. The lack of patent protection laws, regulatory hindrances, fluctuation in industrial production are some of the notable factors negatively impacting the market.
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Constant Advances made by Protein Engineering to Expand Market
On the other hand, the industrial enzymes market is witness promising avenues in the expanding prospect of protein engineering for designing novel enzymes with new functions. The market is also likely to benefit from striking advances made in recombinant DNA technology and their substantial applications in protein engineering methods.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Industrial Enzymes (Type - Carbohydrases, Proteases, Polymerases & Nucleases, Lipase, and Phytase; Application - Food and Beverages, Personal and Household Care, Animal Feeds, and Bio-energy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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