Enzymes are biological catalysts; they accelerate a chemical reaction. Globally, enzymes are used in industries like Biofuel, cleaning products/detergents, food, animal feed, textile and speciality. Further, the market for industrial enzymes is continuously rising, owing to the growing need for sustainable solutions. Advancement in biotechnology, especially in protein engineering, has also brought in new probiotic products, driving the industrial enzymes market to the next level. According to Renub Research, the Global Enzymes Market is projected to reach US$ 17.4 Billion by 2027.
industrial enzymes market
Carbohydrases, Amylases, Cellulases, Proteases and Lipases are major variants existing in the global Enzymes Market. By Types, these enzymes are used in numerous industries. For instance, the food industry primarily uses carbohydrases in baking for manufacturing fruit juices, winemaking and cheese manufacturing. Similarly, other applications of Carbohydrases are detergents, textiles & leather, and bioethanol. Carbohydrases also have added advantages to various industrial applications due to their low cost, less time & space consumption, and ease in modifying and optimizing the process. The Industrial Enzymes Market Size was estimated at US$ 10.6 Billion in 2020.
Besides, protease enzymes are widely used in the Speciality Industries. The Speciality Industry uses protease enzymes in a large quantity in the manufacturing of medicines. Protease enzymes treat multiple diseases such as lungs, heart, eye abnormalities, digestive tract, skin ulcers, and soreness. Thus, the Speciality Industry is expected to fuel the demand for protease enzymes in the foreseeable future. Also, with the help of developing science and technology, protease enzymes are used in the several bio-meditation process and leather treatments.
Furthermore, the Industrial Enzymes Market in North America is influenced by rising demand for enzymes from the food industry and significantly has a large consumer base by countries in the region. Nonetheless, the market in Asia-Pacific is owing to sound growth opportunities induced by soaring demand for carbohydrase and proteases in the applications of the pharmaceutical and food industry, remarkably in emerging countries such as China, India, and Japan. These countries have started investing in the biotech sector to introduce more effective global enzyme products.
Additionally, expanding investment in the food and beverage and pharmaceutical industry is anticipated to stimulate the overall industrial enzymes market. With improving disposable income, customer can now afford expensive food product, which is further expected to increase the demand for industrial enzymes products. As per our analysis, The Industrial Enzymes Industry will likely grow at a CAGR of 7.34% from 2020-2027.
Nevertheless, stringent supervision and controlled temperature & PH levels of enzymes await to restrict the market's growth to some extent. On the other hand, concerns associated with quality, safety, and consumer perception towards enzymes is the key challenge of this market.
By Sources, the Industrial Enzymes Market has been fragmented through microorganisms, plants and animals. The microorganism is the most common source of industrial enzymes holding one of the highest shares in the market.
By Application, the Global Enzymes Market has been segregated into Bio-fuel Enzymes, Cleaning Product Enzymes, Food Enzymes, Animal Feed Enzymes, Textile Enzymes and Specialty Enzymes. Amongst the segments, Specialty Enzymes Market holds a significant market existence.
By Region, we have covered North America, Asia-Pacific, Europe and the Rest of the World.. Furthermore, the Asia-Pacific region is expected to witness the highest growth in the forecasted period and is anticipated to nurture its dominance in the future years.
Some major companies operating in the industrial enzymes market are BASF SE, Advanced EnzymeTechnologies, Novozymes, DuPont Danisco, DSM and Kerry Group PLC.
enzymes market
COVID-19 Impact on Global Enzymes Market
The spread of COVID-19 across the globe has positively impacted the overall Industries. The rising adoption of enzymes in multiple industries such as Cleaning Product, Food, Animal Feeds, and Specialty has to propel the market growth during the COVID-19 pandemic as consumers across the world have become more alert and conscious towards their health and lifestyle.
However, Biofuel and Textile Enzymes Market's growth has been hampered by the COVID-19 pandemic. The lockdowns, social distances, and the shutdown of production plants globally have impacted the automotive industry, which in turn, negatively influenced the biofuel industry.
Similarly, the Textile Enzymes Market is no different; the operations of numerous textile industries had either been temporarily halted or were functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. This factor has a significantly negative impact on the revenue growth of the Textile Enzymes Market.
Renub Research latest report “Industrial Enzymes Market Global Forecast by Types (Carbohydrases, Amylases, Cellulases, Proteases, Lipases), Source (Microorganism, Plant, Animal), Application(Bio fuel, Cleaning Product, Food, Animal Feed, Textile, Specialty), Region (North America, Europe, Asia Pacific, Rest of the World), Company (BASF SE, Advanced Enzyme Technologies, Novozymes, DuPont Danisco, DSM, Kerry Group PLC)" provides a detailed analysis of Enzymes Market.
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