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Global Industrial Enzymes Market: Trends,Opportunities and Forecasts by 2020
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Global Industrial enzymes market can be bifurcated into carbohydrases (amylase, cellulose, lactase, and pectinase), proteases (catalyze the process of proteolysis, dairy industry enzyme), lipases (accelerate the hydrolysis of fats and lipids), and others. Carbohydrases have the largest market share for industrial enzymes. Carbohydrases are enzymes which is used to breakdown carbohydrates into simple sugar. Food enzymes are majorly used by baking industry for manufacturing fruit juices, wine making and cheese manufacturing. Other applications of industrial enzymes are cleaning agents in detergents, biofuel production, textile manufacturing, leather industry, fuel production, chemical industry and animal feed.
North America has the largest market share for industrial enzymes, followed by Europe and Asia Pacific. North America is expected to maintain its dominance in the coming future. However, Asia Pacific region is expected to witness highest growth in the forecasted period. Investment by the multinational food and beverage companies in the emerging markets of China and India are expected to boost the Asian industrial enzymes market. Other countries which are expected to boost the global market are Brazil and Middle East countries.
Advancement in the biotechnology, especially in the field of protein engineering has brought in new industrial enzymes products in the market. This is driving the global industrial enzymes market. Additionally, increasing investment in the food and beverage and pharmaceutical industry is expected to drive the overall industrial enzymes market. With increasing disposable income customer can now afford expensive food product, which is further expected to increase the demand of industrial enzymes products.
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Owing to better growth opportunities in the pharmaceutical and food industry especially in the developing countries such as India, China and Brazil multinational companies have started investing in the biotech sector to introduce more of effective industrial enzyme products. Some of the major companies operating in the global industrial enzymes market are BASF, Codexis Inc., Amano Enzyme Inc., DSM, Dupont De Nemours & Co., ABF PLC, AB Enzymes and Dyadic International Inc.
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