According to a recent report by Reports and Data, the global industrial enzymes market is expected to reach USD 9.77 billion by 2028, with a CAGR of 6.4% during the forecast period. The growth of this market is mainly driven by factors such as the increasing focus on adopting environmentally friendly solutions, rising demand for bioethanol, higher application of enzymes in the animal feed industry, and increasing focus on research and development activities.
Industrial enzymes are specific types of enzymes used in various end-use industries. These include carbohydrases, lipases, proteases, polymerases and nucleases, among others. Carbohydrases are enzymes that break down carbohydrates and transform them into simple sugar. Common types of carbohydrases include amylases, pectinases, cellulases, pullulanases, lactases, and mannanases. These enzymes are primarily used in the food and beverages, textiles and leather, bioethanol, and detergents industries. The food and beverages segment accounted for the largest revenue share in the global market in 2020. Increasing usage of industrial enzymes in various processed food items is anticipated to drive growth of this segment.
The report also highlights technological advancements and rising investments in research and development activities as other factors driving the high demand for industrial enzymes. For example, the EU 2020 FuturEnzyme project aims to develop more sustainable detergents, textiles, and cosmetics using enzymes, thereby reducing the usage of harmful chemical agents and improving environmental sustainability. Companies are focusing on substituting chemical agents in a variety of industrial processes with sustainable enzymes.
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The increasing adoption of high-performance enzymes in the food and beverage industry is another factor expected to drive market revenue growth over the forecast period. The report also provides some key highlights such as the launch of Danisco Animal Nutrition's phytase enzyme, Axtra PHY GOLD, and Carbios' announcement of a new demonstration plant capable of processing over 2 tons of PET per cycle.
North America is expected to account for a steady revenue share in the industrial enzymes market over the forecast period due to technological advancements in key end-use industries such as food processing, pharmaceuticals, and others, as well as increasing focus on biotechnological research and development activities. The major companies profiled in the market report include Advanced Enzymes, Amano Enzymes, Aumgene Biosciences, Biocatalysts, Enzyme Supplies, Creative Enzymes, Enzyme Solutions, Enzymatic Deinking Technologies, Sunson Industry Group, DuPont, and DSM.
The global industrial enzymes market has been segmented based on type, source, form, application, and region. The type segment includes carbohydrases, lipases, proteases, polymerases and nucleases, and others. The source segment includes plant, microorganism, and animal. The form segment includes liquid and dry. The application segment includes food and beverages, bioethanol, detergents, textiles and leather, paper and pulp, wastewater treatment, feed, and others. Finally, the regional outlook includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industrial Enzymes Market: Drive factors
According to a report by Reports and Data, the global industrial enzymes market is expected to reach USD 9.77 billion by 2028, growing at a CAGR of 6.4% over the forecast period. The report identifies the following factors as key drivers of market revenue growth:
1. Increasing focus on adoption of environmentally friendly solutions
2. Higher application of enzymes in the animal feed industry
3. Rising demand for bioethanol
4. Increasing focus on research & development activities
5. Technological advancements and rising investments in research & development activities
6. Increasing adoption of high-performance enzymes in the food and beverage industry
7. Rising demand for healthy and affordable food products
8. Companies focusing on substituting chemical agents with sustainable enzymes in various industrial processes.
The report also highlights that the carbohydrases segment accounted for the largest revenue share in the global market in 2020, primarily due to the increasing use of carbohydrases in food and beverages, textiles and leather, bioethanol, and detergent industries. In addition, the market in North America is expected to account for a significantly steady revenue share over the forecast period due to technological advancements in key end-use industries such as food processing, pharmaceuticals, and others, as well as the increasing focus of various companies on biotechnological research & development activities.
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