Industrial Enzymes Market Size Value Will Surpass USD 8.50 Billion, Globally by the End of the Financial Year 2028: Polaris Market Research

NEW YORK, Jan. 11, 2022 /PRNewswire/ -- "According to research report published by Polaris Market Research, the global Industrial Enzymes Market size & share expected to reach to USD 8.50 Billion by 2028 from USD 5.88 Billion in 2020, at a compound annual growth rate (CAGR) of 6.3% during forecast period 2021 to 2028."

What are Industrial Enzymes? How big is Industrial Enzymes Industry?

• Overview

Industrial enzymes are widely used to minimize water and energy consumption, reduce raw material requirements, and limit carbon emissions and toxic by-products. The increased demand for industrial enzymes can be attributed to increasing applications in textile, personal care, wastewater, paper and pulp, and biofuels. The acquisition of industrial enzymes has been increased by rising industrialization, rapid urbanization, and growing investments in research and developments. The market players were influenced to utilize industrial enzymes due to the increasing environmental concerns and strict government guidelines associated with the use of chemicals in certain products.

New product developments and expansions of application bases are anticipated to provide numerous opportunities over the forecast period. The COVID-19 pandemics fueled the demand for functional food products across the globe. The pandemic directly triggered the health awareness and consumption of food and beverages, strengthening metabolism, digestion, and overall health positively. These factors have positively influenced the market. However, industries such as textile, biofuel, and paper and pulp experienced the negative impact of the COVID-19 outbreak. The automotive industry also faced a decline in demand for vehicles, thereby affecting the biofuel market growth. In addition, other factors that affected the market include scarcity of raw material, decreased deliveries, lockdown, and reduced workforce.

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The Sample Report Reader Will Get The Following Insights:

• Point by point examination of all the global industrial enzymes market portions
• An intensive assessment of the provincial and serious elements of the market
• Extensive research on the competitive landscape
• A comprehensive list of key market players
• Analysis of the different market segments
• Demand-supply chaining analysis
• Regional analysis of the industry
• COVID-19 Impact Analysis
• Market size, share, growth opportunities & trends analysis

Top Market Players in the Industrial Enzymes Market:

• Novus International Inc.
• Novozymes A/S
• Advanced Enzyme Technologies
• DuPont Danisco Cellulosic Ethanol LLC
• Kerry Group
• Amano Enzymes
• BASF SE
• Creative Enzymes
• Metgen Oy
• Enzymatic Deinking Technologies
• Dyadic International
• Koninklijke DSM N.V.
• Aumgene Biosciences
• Lesaffre
• Chr. Hansen Holding A/S

Report Answers Key Questions Such As:

• What is the worldwide industrial enzymes market size of the market by 2028?
• What are the challenges in the market?
• What are the factors anticipated to drive the market?
• Regions & segment-wise analysis of how various industries will perform?
• Who are the potential customers?
• What are the moving and arising advances expected to influence the advancement market?
• How is the competitive environment?
• What is the significant development driving components and restrictions of the global industrial enzymes market across different geographies?

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Industrial Enzymes Market: Growth Factors

The growth-driving factors of this market involve the increasing demand for industrial enzymes from the food and beverages sector. Also, the increasing consumption of functional food products was led by the rising health concerns and increasing awareness regarding nutrition and overall wellness. Market players are aiming to build new processed food products using industrial enzymes as consumers focus on awareness regarding food quality and safety. In addition, the rising demand for nutraceuticals, especially during the pandemic, increased market growth.

Industries including paper and pulp, animal feed, healthcare, biofuel, and textile also utilize industrial enzymes. Global acceptance of sustainable industrial activities further fuels the application demand of industrial enzymes. Additional factors expected to create profitable opportunities in the upcoming years from 2021-2028 are: increasing requirements from emerging economies, increasing industrialization, and technological advancements in enzyme engineering.

The food & beverage sector majorly uses industrial enzymes to easier food processing in products such as vinegar, cheese, wine, bread, and baked goods. Industrial enzymes are used to reduce the resources and toxicity of by-products. They enhance the overall performance and efficiency. The rising demand for nutritive food products, plant-based ingredients, and lactose-free dairy products among consumers accounts for the increased acceptance of industrial enzymes in this sector.

Global Industrial Enzymes Market: Key Segmentation

• Insight By Source

The market is divided into microorganisms, plants, and animals by source. the microorganisms segment accounted for the largest global market share in 2020. Sources of industrial enzymes include bacteria (Bacillus, Clostridium, and Pseudomonas), fungi (Aspergillus, Trichoderma, and Penicillium), and yeast through different processes. Application of industrial enzymes can include fermentation processes for the production of bread, wine, and beer as well as enhancing the quality of the fabrics in the textile industry, biomechanical pulping, and bleaching in the paper and pulp industry, and cleaning and removing dirt in detergents.

• Insight by Type

Based on type, the market is categorized into lipases, carbohydrases, proteases, and others. The carbohydrases segment reported the largest market share in 2020. They have the ability to break down starches, sugars, and other carbohydrates. Applications of Carbohydrases can include liquefaction of gelatinized starch, animal feed, and baked goods. The product is also used in food supplements & nutraceuticals, brewing and potable alcohol production, maltodextrin production, and pet food pelleting, among others.

The carbohydrases segment is projected to dominate the market during the forecast period. They are classified into amylases, cellulases, and other carbohydrates (such as pectinases, lactases, mannanases, and pullulanase). Carbohydrases are used in industrial applications, such as food & beverages, detergents, textiles & leather, and bioethanol. They have added advantages to various industrial applications due to their cost-effectiveness, less time & space consumption, and ease in modification and optimization of the process.

• Insight by Application

On the basis of application, the market is segmented into textile, bioethanol, wastewater treatment, food processing, pulp & paper, detergents and cleaning agents, animal feed, personal care and cosmetics, and others. the food processing sector is anticipated to increase the market demand during the forecast period.

The food & beverage applications considered for this product include meat processing, dairy products, beverages, bakery products, nutraceuticals, as well as processed fruits & vegetables, processed food, and vegetable oil processing. Growing disposable income, improving living standards, and increasing demand for convenience food are the drivers of the market growth. In addition, the rising demand from emerging economies and the growth of e-commerce platforms would generate growth opportunities in the forecast years.

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Industrial Enzymes Market: Report Scope

Regional Analysis: Industrial Enzymes Market

In 2020, North America accounted for the largest share in the industrial enzymes market owing to the growing population, development in the food & beverages and personal care sectors, and changing consumer preferences. Producers have significantly invested in environmental protection and energy optimization programs and also launched initiatives to reduce waste in this region. Due to the development of novel products and global industrialization, this region is anticipated to witness the largest market share. 

Browse the [117+ Pages] Detail Report "Industrial Enzymes Market Share, Size, Trends, Industry Analysis Report, By Source (Microorganisms, Plants, Animals); By Type (Lipases, Carbohydrases, Proteases, Others); By Application; By Region; Segment Forecast, 2021 - 2028" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/industrial-enzymes-market 

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The market is primarily segmented on the basis of source, type, application, and region.

Industrial Enzymes Market: By Source Outlook

• Microorganisms
• Plants
• Animals

Industrial Enzymes Market: By Type Outlook

• Lipases
• Carbohydrases
• Proteases
• Others

Industrial Enzymes Market: By Application Outlook

• Textile
• Bioethanol
• Detergents & Cleaning Agents
• Food Processing
• Pulp & Paper
• Wastewater Treatment
• ·  Animal Feed
• ·  Personal Care & Cosmetics
• ·  Others

Industrial Enzymes Market: By Region Outlook:

• North America (U.S., Canada)
• Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, South Africa, Israel, UAE)

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SOURCE Polaris Market Research