Industrial Enzymes Market Size Worth US$ 9.4 Billion By 2028 | CAGR of 5.9%

According to the latest report by IMARC Group, titled "Industrial Enzymes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on industrial enzymes market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global industrial enzymes market size reached US$ 6.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.

What are industrial enzymes?

Industrial enzymes are specialized proteins that act as catalysts in various industrial processes. They are derived from microorganisms such as bacteria and fungi or produced through genetic engineering techniques. Industrial enzymes are crucial in food and beverages, textiles, detergents, biofuels, and pharmaceuticals. They facilitate and accelerate biochemical reactions, improving process efficiency, reducing energy consumption, and enhancing product quality. They are utilized for food processing, textile dyeing, waste treatment, and bioconversion of raw materials. Their versatility, eco-friendliness, and cost-effectiveness make them essential tools for numerous industrial applications.

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What are the growth prospects and trends in the industrial enzymes industry?

The global market is majorly driven by the increasing product demand in the food and beverage industry. In line with this, the rising demand for processed and convenience foods is significantly contributing to the market growth. Furthermore, industrial enzymes offer environmentally friendly alternatives to traditional chemical processes, leading to their growing adoption as a sustainable solution in various industries. Apart from this, the escalating product uptake in producing biofuels, such as ethanol and biodiesel, is catalyzing the market. Moreover, industrial enzymes are extensively utilized in the textile industry for processes like bio-polishing, de-sizing, and denim fading, as they offer efficient and eco-friendly alternatives to conventional chemical treatments. Besides, the widespread product utilization in animal feed to enhance digestion and improve nutrient utilization is favorably impacting the market. Additionally, industrial enzymes find applications in pharmaceutical manufacturing, including drug synthesis, diagnostics, and research, providing a boost to the market.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Adisseo (China National Bluestar (Group) Corporation)
• Advanced Enzyme Technologies
• Associated British Foods Plc
• BASF SE
• Chr. Hansen Holding A/S
• Koninklijke DSM N.V
• DuPont de Nemours Inc.
• Enzyme Development Corporation
• Lesaffre
• Novozymes A/S
• Novus International Inc. (Mitsui & Co)

Industrial Enzymes Market Segmentation:

Our report has categorized the market based on region, product, source and application.

Breakup by Product:
• Carbohydrases
• Amylases
• Cellulase
• Others
• Proteases
• Lipases
• Polymerases and Nucleases
• Others

Breakup by Source:
• Plants
• Animals
• Microorganisms

Breakup by Application:
• Food and Beverages
• Detergents
• Animal Feed
• Biofuels
• Textiles
• Pulp and Paper
• Nutraceuticals
• Personal Care and Cosmetics
• Wastewater Treatment
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.