Industrial Enzymes Market Size Estimated to Grow USD 8.50 Billion By 2028, at 6.3% CAGR Growth: Polaris Market Research

According to the research report, the global industrial enzymes market size was valued at USD 5.88 billion in 2020 and is expected to reach USD 8.50 Billion By 2028, growing at a CAGR of 6.3% during the forecast period.

The demand for industrial enzymes is anticipated to increase during the forecast period owing to greater demand for functional food products, growing health concerns, along with rising awareness regarding nutrition and overall wellness. The increasing demand for nutraceuticals, especially during the pandemic, boosts the market growth.

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Top Market Players Are:

Some leading market participants include Novozymes A/S, Novus International, Inc., Advanced Enzyme Technologies, Kerry Group, DuPont Danisco Cellulosic Ethanol LLC, Amano Enzymes, Creative Enzymes, BASF SE, Metgen Oy, Enzymatic Deinking Technologies, Koninklijke DSM N.V., Dyadic International, Aumgene Biosciences, Lesaffre, and Chr. Hansen Holding A/S.

Increasing consumer awareness regarding environmental concerns and the adoption of sustainable industrial activities has further increased its demand. However, the COVID-19 pandemic has had a detrimental impact on businesses such as textiles, biofuel, and paper and pulp owing to supply chain disruption, raw material shortages, lower deliveries, lockout, and reduced personnel.

Based on source, the market is segmented into microorganisms, plants, and animals. In 2020, the microorganisms segment dominated the global market. Microorganisms such as Bacillus and Aspergillus are used in use to produce industrial enzymes owing to the higher yield obtained and reduced cost and labor.

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Rising environmental concerns coupled with increasing initiatives to reduce manufacturing waste have increased its adoption worldwide. These enzymes are used in the food and beverage sector to maintain the original flavors while carrying the desired processing reactions. They are also utilized in applications such as chemical and research, agriculture, pulp and paper, leather, textile, and household products. Some common carbohydrases include amylases, glucanases, and cellulases. They are used in the food and beverage sector to improve fermentation, accelerate yeast growth, and ease the filtration of beverages. The demand for this enzyme has increased over the years owing to increasing application in textile, personal care, wastewater, paper, and pulp.

Growing awareness regarding consumption of functional food products and growing inclination towards plant-based ingredients support the market growth. Some benefits offered by industrial enzymes in food processing include improved performance, reduced toxicity of by-products, high quality, lesser environmental pollution, and decreased wastage. Increasing disposable incomes coupled with growing middle-class societies have defined developing economies. Consumers in emerging markets have increased their nutritional knowledge and interest in wellness foods, which, along with rising environmental consciousness, expands the use of industrial enzymes in the food processing industry.

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Polaris Market Research has segmented the industrial enzymes market report on the basis of source, type, application, and region:

Industrial Enzymes, Source Outlook (Revenue, USD Billion, 2016 - 2028)

Microorganisms
Plants
Animals

Industrial Enzymes, Type Outlook (Revenue, USD Billion, 2016 - 2028)

Lipases
Carbohydrases
Proteases
Others

Industrial Enzymes, Application Outlook (Revenue, USD Billion, 2016 - 2028)

Textile
Bioethanol
Detergents & Cleaning Agents
Food Processing
Pulp & Paper
Wastewater Treatment
Animal Feed
Personal Care & Cosmetics
Others

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