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Industrial Enzymes Market Surges Towards US$ 10.10 Billion by 2030, Indicates Market Analysis ⅼ Forecast 2024 - 2030

03-27-2024 08:26 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Renub Research

Industrial Enzymes Market Surges Towards US$ 10.10 Billion

Global Industrial Enzymes Market size is projected to be priced at around US$ 10.10 billion by 2030, according to Renub Research. Enzymes are proteins that catalyze chemical reactions. As such, enzymes have been widely used to facilitate industrial processes and the production of products, and these enzymes are referred to as industrial enzymes. Although it dates back to ancient times when enzymes were used in baking, brewing, cheese making, etc., they were used to grow microorganisms spontaneously or as added preparations such as calves' rumen or papaya fruit.

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During the past few decades has the development of recombinant DNA technology and advanced bioprocesses made it possible to produce enzymes as purified, well-characterized preparations on a large scale, allowing the broad application of enzymes in various industrial products and processes, such as chemical, detergent, textile, food, animal feed, leather, and pulp and paper industries. The latest developments in protein engineering and site-directed evolution have enabled us to tailor-make enzymes with new activities and for new process conditions. This leads to a highly diversified industry that is currently growing both in terms of size and complexity.

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Industrial enzymes market growth is driven by rising product demand from end-use industries such as biofuel, domestic cleaning, animal feed, and food & beverage. The market is expected to be fueled by a growing demand for carbohydrates and proteases in food and beverage applications, particularly in Asia Pacific's expanding economies like China, India, and Japan. Furthermore, increased industrialization and improvements in the nutraceutical sector might be attributed to growth in developed economies. Such factors have boosted product demand significantly. The need for industrial enzymes is predicted to grow in the animal feed and nutraceutical industries, propelling the industry ahead.

Furthermore, as consumer health awareness improves, so does demand for functional foods, which will drive up product demand in the coming years. The industry's challenges include the high sensitivity of enzymes to temperature and pH and item handling security issues. These variables are expected to have an immediate impact on market growth. The increased usage of their products in various end-use industries, such as food and beverages, animal feed, biofuels, and diagnostics, is expected to benefit critical players.

The global industrial enzymes market size was around US$ 6.64 billion in 2023. Consumers are increasingly demanding higher-quality goods with more natural flavor and taste. As a result of this trend, the necessity for flavored and pleasant processed foods based on industrial enzyme applications arose. These enzymes function as catalysts in metabolic reactions by breaking down vitamins and minerals and converting complex compounds to simpler molecules. These attributes are estimated to fuel the market's growth.

The segment for carbohydrate products holds a leading position in the industrial enzyme market.

Carbohydrases stand out as the primary product segment, driving the industrial enzyme market with their leading position. This dominance is attributed to their versatile applications across various industries, including food and beverage, pharmaceuticals, and biofuel production. Carbohydrases play a pivotal role in catalyzing the breakdown of complex carbohydrates into simpler sugars, facilitating processes such as fermentation, digestion, and food processing. Their widespread adoption underscores their significance in enhancing product quality, improving production efficiency, and reducing manufacturing costs. As industries seek sustainable and efficient solutions, carbohydrates remain indispensable, ensuring continued growth and expansion within the industrial enzyme market.

Detergents are forecast to emerge as a significant application segment within the market.

Detergent formulations rely heavily on enzymes like lipases and proteases, rendering them a vital application within the industrial enzyme market. Lipases effectively break down lipids and fats, while proteases target protein-based stains, enhancing the cleaning efficiency of detergents. The use of enzymes in detergents offers several advantages, including improved stain removal, reduced environmental impact, and enhanced fabric care. With the increasing demand for eco-friendly and efficient cleaning solutions, the importance of enzymes in detergent formulations is expected to grow significantly. This trend underscores the critical role of detergents as a prominent application segment, driving the expansion of the industrial enzyme market.

During the forecast period, substantial growth is anticipated in the segment sourced from microorganisms.

The industrial enzyme market is poised for notable expansion, particularly in the segment derived from microorganisms. This anticipated growth signifies a promising uptick in market share, driven by several factors. Due to their effectiveness and versatility, microbial enzymes offer diverse applications across various industries, including food and beverage, textiles, biofuels, and pharmaceuticals. Furthermore, biotechnology and genetic engineering advancements have led to developing novel enzymes with enhanced properties, further fueling market growth. Additionally, increasing awareness regarding sustainable manufacturing practices and the rising demand for eco-friendly solutions drive the adoption of enzyme-based products, thereby propelling the development of the microorganism-sourced segment within the industrial enzyme market.

North America held the leading share in the global industrial enzyme market.

North America is anticipated to expand significantly and assert its leadership position in the global industrial enzymes market. Several factors contribute to this projection, including the region's robust industrial infrastructure, advanced technological capabilities, and widespread adoption of enzyme-based products across various industries. Moreover, increasing awareness about sustainable manufacturing practices and the growing demand for eco-friendly solutions are driving the uptake of industrial enzymes in North America. Additionally, favorable government initiatives and regulations promoting the use of enzymes further bolster market growth in the region. With a strong emphasis on innovation, research, and development activities, North American companies are well-positioned to capitalize on emerging opportunities in the industrial enzyme market, solidifying the region's dominance and fostering continued expansion in the coming years.

Key Players

BASF SE, Advanced Enzyme Technologies, Novozymes, DuPont Danisco, DSM, Kerry Group PLC, Dyadic International Inc., and Associated British Foods Plc are prominent global industrial enzyme market players.

Types - Global Industrial Enzymes Market breakup in 5 viewpoints:

1. Carbohydrase
2. Proteases
3. Lipases
4. Polymerases & Nucleases
5. Others

Application - Global Industrial Enzymes Market breakup in 8 viewpoints:

1. Food & Beverages
2. Detergents
3. Animal Feed
4. Biofuels
5. Textiles
6. Personal Care & Cosmetics
7. Agriculture
8. Others

Sources - Global Industrial Enzymes Market breakup in 3 viewpoints:

1. Microorganisms
2. Plants
3. Animals

Countries - Global Industrial Enzymes Market breakup in 25 viewpoints:

1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:

• Overview
• Recent Developments
• Revenue Analysis

Company Analysis:

1. BASF SE
2. Advanced Enzyme Technologies
3. Novozymes
4. DuPont Danisco
5. DSM
6. Kerry Group PLC
7. Dyadic International Inc.
8. Associated British Foods Plc

Browse Related Report:

Biodiesel Market: https://www.renub.com/biodiesel-market-p.php
Tomato Seeds Market: https://www.renub.com/tomato-seeds-market-p.php
Bioplastics Market: https://www.renub.com/bioplastics-market-p.php
Food Enzymes Market: https://www.renub.com/food-enzymes-market-p.php

About the Company:

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 7000 syndicated reports and worked on more than 500 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

Contact Us:

Renub Research
Phone No: +1-478-202-3244 | +91-120-421-9822 (IND)
Email: info@renub.com
LinkedIn: https://in.linkedin.com/company/renub-research
Web: www.renub.com

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