Industrial Enzymes Market Worth $11.05 Billion By 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., May 10, 2022 /PRNewswire/ -- According to a new market research report titled, "Industrial Enzymes Market by Type (Carbohydrases [Amylases, Cellulases], Proteases, Others); Application (Food & Beverage, Biofuel, Textiles); Formulation (Liquid, Solid); Source (Plants, Animal, Microorganisms); and Geography - Global Forecasts to 2029," the industrial enzymes market is expected to grow at a CAGR of 6.6% from 2022 to 2029 to reach $11.05 billion by 2029.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4990

Enzymes are used to improve product quality while lowering manufacturing costs and reducing waste and energy use. Industrial enzymes are biological catalysts that accelerate the chemical reaction and are mainly used in food & beverage, household care, biofuel, textiles, cosmetics, leather processing, pulp & paper, animal feed, and other industries.

The emerging trend of healthy food, switch towards renewable sources, and demand for natural substitutes for synthetic chemicals further increase the application of industrial enzymes as an alternative to fossil fuels. Growing environmental concerns and rising demand for bioethanol, increasing R&D activities and investments in the enzymes sector, advancements in enzyme engineering & green chemistry, the introduction of genetically engineered enzymes, and the need for cost reduction and resource optimization in production processes are the key factors responsible for the growth of the industrial enzymes market. However, stringent regulations and restricted temperature & pH levels of enzymes are expected to hinder the growth of this market to some extent.

The Impact of COVID-19 on the Industrial Enzymes Market

The COVID-19 pandemic severely affected human health and wellbeing. To control the spread of this disease, governments worldwide announced partial or complete lockdowns, severely impacting many industries, including food & beverage, animal feed, home and personal care, dietary supplements, leather, and textile, among others.

The lockdowns forced the temporary closure of manufacturing facilities. Governments also enforced restrictions on operating capacities to ensure social distancing and curb the spread of the infection. Supply chains were disrupted, resulting in production limitations, complications in raw materials sourcing, and higher delivery costs, impacting the overall industrial enzymes market. Moreover, governments announced a temporary ban on foreign air travel. These factors temporarily affected the sales of industrial enzymes.

The COVID-19 pandemic slowed the expansion of the biofuel and textile enzymes market, as the automotive industry has been majorly impacted by lockdowns, social distances, and the closing of production plants worldwide. For instance, the COVID-19 crisis radically changed the global context for biofuels, the production contracted by 20 billion liters (13%) in 2020, returning to 2017 output levels (Source: BAC-TO-FUEL). Similarly, the textile enzymes business is no different; due to enforced lockdowns and imposed limits by individual regulating bodies, numerous textile businesses had either been temporarily halted or were operating with a small staff. This element has a substantial negative impact on the textile enzymes market growth.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=4990

However, COVID-19 has had a favorable impact on some industries. The demand and use of enzymes have increased in industries like home care products, food, animal feeds, and pharmaceuticals due to increased awareness of healthy wellbeing. Enzymes work as excellent cleaning agents in the bakery industry to maintain the freshness of products, reduce dependence on fossil fuels, and reduce water, energy, and other chemical inputs in various industrial processes.

The impact on some home care products, like surface disinfectants and laundry care, nutraceuticals & dietary supplements, and some pharmaceuticals was particularly high during 2020 and 2021. The sale of these products went up by 96%. Some of the related examples of the impact on sales and production in the home care products category are as follows:

• According to the International Association for Soaps, Detergents and Maintenance Products (A.I.S.E.), in 2020, the European household care industry registered a growth of 4.7% from 2019.
• In 2020, the sale of laundry care products, such as liquid detergents, powder detergents, fabric conditioners, and others, increased at a growth rate of 1.3% from 2019. Simultaneously in 2020, surface care registered a growth of 9.2% from 2019 in Europe (Source: A.I.S.E).
• In Europe, in 2020, the sales of dishwashing, maintenance products, and bleaches also increased with a growth rate of 10.3%, 0.9%, and 12.2%, respectively, from 2019 (Source: A.I.S.E).

Moreover, the pandemic has underlined the necessity of consuming good, nutritious foods with a balanced number of enzymes and other energy sources. As a result, demand for fortified foods and beverages loaded with nutritional enzymes and other healthy components is rising across the globe. Also, as people become more concerned about their health and become more aware of enzyme-infused products, the demand for bakery, confectionery products, dairy products, and beverages is experiencing a rapid surge in demand. For instance, according to the American Bakery Association, sales in the U.S. bakery aisle jumped an unprecedented 62.3% over the week ending March 15, 2020.

Therefore, strong demand for pharmaceuticals, food and beverages, and home care products due to COVID-19 will support the growth of the industrial enzymes market. Thus, considering the overall impact of COVID-19 across all industrial sectors using industrial enzymes, this market has registered growth; however, the market's growth rate in 2020 was a bit lower than the market's growth rate in 2019.

Growing Environmental Concerns and Rising Demand for Bioethanol

Climate change, pollution, environmental degradation, and resource depletion are the major environmental issues faced recently. Moreover, in recent years, the demand for global energy has increased rapidly. This demand is associated with the increasing human population and its needs. With fossil fuel being the most dominating source, the most significant environmental problem associated with fossil fuel use is the emission of greenhouse gases. All fossil fuels emit carbon dioxide, greenhouse gas, and other harmful air pollutants when burned. Greenhouse gases trap heat in the atmosphere, causing global warming. However, increasing the supply of renewable energy sources would replace fossil sources and limit the dominating carbon-intensive fossil fuels in the future energy system. Hence, developing and utilizing renewable energy sources, such as solar, wind, and bioenergy, have become important to solve environmental problems.

Bioethanol is a renewable fuel that is an alternative to fossil fuel and is produced by the hydrolysis of cellulose from lignocellulosic biomass and by the fermentation of sugars from different lignocellulosic sources. Enzymes that play a key role in this growing industry are amylases and cellulases, yet accessory enzymes have gained recent attention. Bioethanol is a clean-burning fuel considered environmentally safe as its greenhouse gas emissions are less than fossil fuels.

Bioethanol is an inexpensive and environmentally friendly alternative for gasoline or petroleum fuel cars. For instance, according to the International Energy Agency, global ethanol production in 2023-2025 is anticipated to be 119 billion liters, with Brazil, China, and India being the key growth markets over this period. Biofuels are expected to meet around 5.4% of road transport energy demand in 2025, rising from just under 4.8% in 2019. Biofuel production by enzymatic catalyzed processes is less energy-intensive and more environmentally friendly compared to its production by conventional alkaline catalyzed processes.

Hence, growing environmental concerns and rising demand for bioethanol drive the growth of the industrial enzymes market.

Quick Buy – Industrial Enzymes Market - Global Opportunity Analysis And Industry Forecast (2022-2029):  https://www.meticulousresearch.com/Checkout/81242888

Key Findings of the Industrial Enzymes Market Report:

Based on type, the industrial enzymes market is segmented into carbohydrases, proteases, lipases, and others. The proteases segment is expected to register the highest CAGR during the forecast period. The key factors driving proteases enzymes demand are its multiple applications in diverse industries, its eco-friendly nature due to its non-toxic and non-pathogenic attributes, and the large production of protease enzymes in a short time.

Based on source, the industrial enzymes market is segmented into plants, animals, and microorganisms. In 2022, the microorganism segment is expected to account for the largest share of the industrial enzymes market. Due to high stability, cost-effectiveness, less time & space requirement, high consistency, and increasing demand from food & beverage, pharmaceutical, animal feed, and wastewater treatment industries are contributing to the largest share of this segment.

Based on formulation, the industrial enzymes market is segmented into solid and liquid. In 2022, the solid segment is expected to register the highest CAGR in the industrial enzymes market. Solid enzymes offer benefits such as ease of handling, high gravity fermentation & stability, easy transportation & storage, and longer shelf life.

Based on application, the industrial enzymes market is segmented into food & beverages, household care, animal feed, biofuel, and other applications. The food & beverages segment is expected to dominate the industrial enzymes market in 2022. The large share of this segment is mainly attributed to the growing awareness about nutritional requirements, increasing demand for processed food products, changing dietary habits, rising consumer desire for natural and customized food products, and increased application of enzymes in beverages. Additionally, the food & beverages segment is expected to register the highest CAGR during the forecast period.

Based on geography, in 2022, North America is expected to account for the largest share of the industrial enzymes market. The large share of this region is mainly attributed to the increasing diversity in enzyme applications, higher availability of novel and innovative products, rapid industrialization, increasing demand for alcoholic beverages and processed food, and growing awareness regarding green technologies addressing environmental issues. However, Europe is expected to register the highest CAGR during the forecast period of 2022–2029. The highest growth rate of this region is mainly attributed to the increasing demand for biofuels, changing lifestyles and emerging trends of healthy food, increasing awareness about health, and stringent environmental norms curbing the use of chemicals.

Some of the key players operating in the industrial enzymes market are Novozymes A/S (Denmark), International Flavors & Fragrances, Inc. (IFF) (U.S.), Koninklijke DSM N.V.(Netherlands), BASF SE (Germany), AB Enzymes GmbH (Germany), Amano Enzyme Inc. (Japan), Chr. Hansen Holding A/S (Denmark), F. Hoffmann-La Roche AG (Switzerland), Kemin Industries, Inc. (U.S.), Advanced Enzyme Technologies Ltd. (India), Merck KGaA (Germany), Bluestar Adisseo Company (China), AEB Africa (Pty) Ltd (South Africa), Novus International, Inc. (U.S.), Biocatalysts Limited (U.K.), Enzyme Development Corporation (U.S.), BioResource International, Inc. (U.S.), Qingdao Vland Biotech INC (China), Aum Enzymes (India), and Nature BioScience Pvt. L.T.D. (India) among others.

Browse in-depth TOC on "Industrial Enzymes Market - Global Opportunity Analysis And Industry Forecast (2022-2029)"
150 – Tables
36 – Figures 
200 – Pages
click here: https://www.meticulousresearch.com/product/industrial-enzymes-market-4990

Scope of the Report:

Industrial Enzymes Market, by Type

• Carbhohydrases
• Amylases
• Cellulases
• Others
• Proteases
• Other Enzymes

Industrial Enzymes Market, by Source

• Microorganisms
• Animal
• Plant

Industrial Enzymes Market, by Form

• Liquid
• Solid

Industrial Enzymes Market, by Application

• Food & Beverage
• Beverages
• Bakery
• Dairy
• Meat, Fish, & Egg Processing
• Grain & Oilseed Processing
• Other Food Applications
• Household Care
• Animal Feed
• Biofuel
• Other Applications

Industrial Enzymes Market, by Geography

• North America
• U.S
• Canada
• Europe
• Germany
• U.K
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of APAC
• Latin America
• Middle East & Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=4990

Amidst this crisis, Meticulous Research^® is continuously assessing the impact of COVID-19 pandemic on various sub-markets and enables global organizations to strategize for the post-COVID-19 world and sustain their growth. Let us know if you would like to assess the impact of COVID-19 on any industry here- https://www.meticulousresearch.com/custom-research

Related Reports:

Food Enzymes Market by Source (Microorganisms, Animals, Plant), Type (Carbohydrase, Protease, Lipase), Form (Liquid, Solid), Application (Bakery, Dairy, Beverage, Meat Processing), and Geography- Global Forecast to 2024

https://www.meticulousresearch.com/product/food-enzymes-market-4955

Green Chemicals Market by Type (Bio-alcohols, Bio-polymers, Bio-organic acids, Bio-ketones, Others), Application (Industrial & Chemical, Food & Beverages, Pharmaceuticals, Packaging, Construction, Automotive, Other Industries) - Global Forecasts to 2029

https://www.meticulousresearch.com/product/green-chemicals-market-5008

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding, 
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected] 
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/340/industrial-enzymes-market-2029

SOURCE Meticulous Market Research Pvt. Ltd