The market for industrial enzymes is expected to grow at a CAGR of 6.83% during the forecast period of 2019-2024
Major factors driving the market are the growing diversity in enzyme applications and niche products and stringent environmental norms curbing the use of chemicals. However, competition for raw materials with other industries and price volatility are likely to hinder the growth of the market studied.
Carbohydrases industrial enzymes dominated the market in 2017 and are expected to grow during the forecast period, due to their increasing usage in food and beverages. New product innovations and expansions of application bases are anticipated to provide numerous opportunities over the forecast period. North America dominated the market, with the largest consumption, but Asia-Pacific is likely to register the highest CAGR through the forecast period.
Key Market Trends
Food Processing, the Dominant Application
Food processing dominates the industrial enzymes market with a total share of ~37%. This is the fastest growing application segment, mainly supported by the ever-growing global population and its increasing purchasing power. Health awareness is also a factor for peoples increasing demand for food quality, safer production processing, and improved nutritional value.
The increasing demand for higher quality foods in terms of natural flavor and taste has become a common trend among present consumers. This trend triggered the need for the development of flavored and tasty processed foods using industrial enzymes applications. These enzymes act as catalysts by playing important roles in the breaking down of vitamins and nutrients in the metabolic reactions and inter-conversion of complex molecules to smaller molecules.
Food enzymes, such as amylase, cellulase, xylanase, pectinase, protease, lipase, glucosyltransferase, arabinanase, polygalacturonase, chymosin, and beta-glucanase among others, have become an essential part of the global food additives industry.
With the increased innovation and development of technologies in the food industry, industrial enzymes have found extensive application in the fat modification and sweetener technology, thereby driving the industrial enzymes market.
North America Dominates the Market
North America has the highest share, accounting for around 36% of the global market, in 2017. United States occupies the top position in the global industrial enzymes market. The high consumption in the United States industries is correlated with awareness regarding green technologies addressing environmental issues, enhanced productivity, and better product value, thus leading to growth in research and development sector, as well as in industries using enzymes. One of the major factors driving the growth of the United States industrial enzymes market is the increasing use of enzymes in the food and beverage industry, which in turn will propel the marke in the region.
The market studied is dominated by the top five players, namely, Novozymes, DowDuPont, Royal DSM, AB Enzymes, and BASF, accounting for about 75% of the total market. Other recognized players in the market are Amano Enzymes, Biocatalysts, BioResource International Inc., Chr. Hansen Holding AS, Enzyme Development Corporation, Lesaffre, and others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Diversity in Enzyme Applications and Niche Products
4.1.2 Stringent Environmental Norms Curbing the Usage of Chemicals
4.2.1 Restricted Temperature and pH Levels of Enzymes
4.2.2 Competition for Raw Materials with Other Industries and Price Volatility
4.2.3 Various Regulatory Constraints for Different Markets
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
126.96.36.199 Other Carbohydrases
188.8.131.52 Trypsins (API and Non-API)
184.108.40.206 Other Proteases
5.2.1 Food Processing
220.127.116.11 Dairy Applications
18.104.22.168 Bakery Applications
22.214.171.124 Brewing Applications
126.96.36.199 Other Food Processing Applications
5.2.2 Animal Feed
5.2.5 Leather Processing
5.2.6 Detergents and Cleaners
5.2.9 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
188.8.131.52 AB Enzymes
184.108.40.206 Advanced Enzymes
220.127.116.11 Amano Enzyme Inc.
18.104.22.168 BASF SE
22.214.171.124 BioResource International Inc.
126.96.36.199 Chr. Hansen Holding AS
188.8.131.52 DSM NV
184.108.40.206 Enzyme Development Corporation
220.127.116.11 Abbott Nutrition
18.104.22.168 Kerry Ingredients
22.214.171.124 Lactalis Ingredients
126.96.36.199 Puori Life
188.8.131.52 Rainbow Light
184.108.40.206 Reckitt Benckiser
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 New Product Innovation and Expansion of Application Base
7.2 Increasing Demand from Industries in Emerging Economies