NEW YORK, Nov. 6, 2023 /PRNewswire/ — The industrial enzymes market size is forecasted to increase by USD 2.19 billion from 2022 to 2027, at a CAGR of 6.26%, according to the recent market study by Technavio. Increasing demand for food enzymes, Increasing demand for cosmetics and personal care products, Increased production of biofuel. Food enzymes increase the shelf-life by imparting anti-stale, digestive, and softening properties to food products. Enzymes such as protease, lipase, and carbohydrase are used in meat products, bakery, dairy, confectionery, and others to keep the nutritional content intact throughout the supply chain. The growing need for food safety and security has increased the consumption and demand for processed and packaged food products. In addition, the rising awareness of consumers regarding the health and nutritional benefits of food enzymes has increased the use of food enzymes in the food industry. All these factors drive the growth of the market in focus. The growth of the market will be driven by the increasing demand for food enzymes, increasing demand for cosmetics and personal care products, and increased production of biofuel. Charts & data tables about market and segment sizes for a historic period (2017-2021) and forecast period (2023-2027) have been covered in this report. Download the Sample Report
Vendor Analysis
The global industrial enzymes market is fragmented due to the presence of several small and medium-sized companies that are marketing their products with novel applications. Established vendors are backed by strong financials, considerable market experience, and strong supply and distribution networks spread across the globe. They are increasing their investments for facility expansion and acquiring companies with innovative products to expand their portfolios. The new product launch is also a key strategy being adopted by vendors to increase their market shares. All these factors will intensify the competition in the market during the forecast period. Some of the key vendors covered include:
- BASF SE – The company offers industrial enzymes such as the phytase enzyme, which provides feed manufacturers and farmers considerable cost savings while caring for the environment by reducing water pollution and helping animals digest their feed efficiently.
- Chr Hansen Holding AS – The company offers industrial enzymes for antibiotic test kits.
- Codexis Inc. – The company offers industrial enzymes, namely, HiTemp Reverse Transcriptase, Codex HiCap RNA polymerase, and Codex HiFi Hot Start DNA Polymerase.
- DuPont de Nemours Inc. – The company offers industrial enzymes namely, Duolite A568 Ion Exchange Resin, Duolite AP143 or 1073 resin, and Duolite AP143 or 1083 resin.
- Enzymatic Deinking Technologies LLC
- F. Hoffmann La Roche Ltd.
- Kerry Group Plc
- Koninklijke DSM NV
- Merck KGaA
- Nature BioScience Pvt. Ltd.
- Neogen Corp.
- Novozymes AS
- Novus International Inc.
- The Soufflet Group
- Thermo Fisher Scientific Inc.
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Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Market Segmentation:
The market is segmented by application (food and beverage, detergents, animal feed, biofuel, and others), source (microorganisms, animals, and plants), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
- The market growth in the food and beverage segment will be significant over the forecast period. Industrial enzymes are extensively used in the food and beverage industry to provide good-quality products with increased production efficiency. Industrial enzymes help in providing eco-friendly products to consumers by reducing the consumption of energy, water, and raw materials. In addition, nutritional enzymes have gained prominence during the last few years with growing consumers’ inclination toward digestive health. All these factors drive the growth of the segment.
Market Dynamics:
Major Trends:
- Recent advances in enzyme technology
- Use of enzymes for second-generation bioethanol
- Increasing awareness of the importance of early diagnosis
Advancements in genetic engineering technologies have assisted in overcoming problems such as the limited availability of enzymes, substrate scope, and operational stability. For instance, Chymosin, the active protease in calf rennin, is being produced by enzymes found in minute concentrations in exotic microorganisms, which are often difficult to grow. However, they can be produced by selecting host microorganisms that are easy to cultivate on inexpensive raw materials and producing a broth to ease the purification of enzymes. Similarly, several enzymes have been engineered to function better in industrial processes, such as proteinase, cellulase, lipase, alpha-amylase, and glucoamylase. Such technological advances will positively influence market growth during the forecast period.
Key Challenges:
- Various regulatory constraints on the use of industrial enzymes for different markets
- Complex production process
- Safety concerns related to the use of industrial enzymes
Enzymes must be accredited as Generally Regarded as Safe (GRAS) by the FDA to be used as a food ingredient. To evaluate the safety of an enzyme, the FDA compares the enzymes that need to be assessed with the enzymes that are already approved or with those that have been safely consumed as a part of the diet throughout human history. Several FDA regulatory compliances must be met to get the GRAS status of enzymes. Similarly, in countries such as France, Denmark, Poland, and Hungary, enzymes are subjected to an authorization procedure before providing marketing approval. Such regulations restrict the growth of the market.
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What are the key data covered in this industrial enzymes market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the industrial enzymes market between 2023 and 2027
- Precise estimation of the size of the industrial enzymes market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the industrial enzymes market across North America, APAC, Europe, South America, and Middle East and Africa
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of industrial enzymes market vendors
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Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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