Rising Textile Production to Push Industrial Enzymes Sales Past US$ 9 Bn by 2032

Growing Consumption of Packaged Food & Beverages to Position Industrial Enzymes Market at US$ 6.17 Bn in 2022

A comprehensive study by Fact.MR on the global industrial enzymes market offers a thorough analysis on governing factors from 2022 to 2032. The survey reveals key trends and opportunities augmenting sales across 5 regions. It also highlights sales prospects of industrial enzymes in the market based on product type, application, and end use.

NEW YORK, June 14, 2022 /PRNewswire/ -- Demand in the global industrial enzymes market is projected to be valued at around US$ 6.17 Bn in 2022. On account of growing advancements in technologies such as genetic engineering, and rising adoption of sustainable & renewable chemical alternatives, sales of industrial enzymes are estimated to exceed US$ 9 Bn by 2032.

Demand for textile products such as garments and protective clothing is increasing, owing to rising expenditure on clothing trends. To capitalize on these trends, leading textile manufacturers are investing in production capacity expansions.  

For instance, in 2019, Pallavaa Group, a prominent textile manufacturer in India, announced investing around US$ 65 Mn for expanding weaving, spinning, and knitting capacity in Tamil Nadu, India. As industrial enzymes are extensively used in textile processing, such developments are anticipated to accelerate sales in the forthcoming years.

Attributed to this, the industrial enzymes market is expected to expand at a CAGR of 3.9% during the forecast period, in comparison to the 2.9% CAGR registered between 2017 to 2021.

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As the consumption of high-quality packaged foods with natural flavors and taste continues to increase, demand for enzymes such as proteases and lipase enzymes is rising across the food & beverage industry.

In addition to this, the use of dairy enzymes is increasing with the introduction of novel processed food & beverage products, which, in turn, is expected to bolster sales of industrial enzymes in the market.

Key Takeaways:

• The U.S. is anticipated to continue leading the market in North America, exhibiting growth at a CAGR of 3.6% between 2022 and 2032.
• Sales of industrial enzymes in the U.K. are estimated to rise owing to the increasing consumption of packaged and processed food & beverage products.
• China is expected to emerge as a highly lucrative market for industrial enzymes, projecting sales growth at a 4.8% CAGR through 2032.
• The demand in India is forecast to expand at a robust pace, assisting the Asia Pacific market to account for around 36.6% of the global sales by 2022.
• On the basis of end use, the food and beverages industry is projected to account for 24.9% of the total demand share in the global market through 2022.

Growth Drivers:

• Shifting preference towards adopting biofuels, owing to the growing petroleum product prices will drive sales of industrial enzymes for the production of biofuels.
• Rising application of carbohydrases across the food & beverage industry in the preparation of fruit drinks, wine, and dairy products is expected to bolster the sales of industrial enzymes.

Restraints:

• High cost of industrial enzymes and high sensitivity to pH and temperature might limit sales.
• Side effects associated with the use of proteases such as diarrhea, nausea, and vomiting among others is impeding the demand across the proteases segment.

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Competitive Landscape:

Prominent industrial enzyme player are adopting advanced technologies to enhance their product quality and increase their revenue share through initiatives such as partnerships, mergers, and acquisitions.

For instance,

• In 2021, Novozymes, a global biotechnology company announced entering into a partnership with a leading manufacturer of pharmaceutical ingredients, Novo Nordisk Pharmatech, to develop high quality technical enzymes for the development of biopharmaceutical solutions.

Key Companies Profiled by Fact.MR

• AB Enzymes
• Advanced Enzyme Technologies
• Amano Enzyme Inc.
• BASF SE
• Biocatalysts
• BioResource International Inc.

More Valuable Insights on Industrial Enzymes Market

In its recent study, Fact.MR reveals factors influencing the growth in the global industrial enzymes market during the assessment period. The study also offers compelling insights into prominent drivers creating growth opportunities in the industrial enzymes market through detailed segmentation as follows:

Industrial Enzymes Market by Product Type:

• Carbohydrases
• Proteases
• Lipases
• Other Product Types

Industrial Enzymes Market by Application:

• Technical
• Feed Additives
• Food Processing

Industrial Enzymes Market by End Use:

• Food & Beverages
• Detergents
• Animal Feed
• Personal Care & Cosmetics
• Nutraceuticals
• Textiles
• Other End Uses

Industrial Enzymes Market by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key Questions Covered in the Industrial Enzymes Market Report

• What is the estimated revenue of the industrial enzymes market during the forecast period?
• Which are the challenges faced in the industrial enzymes market?
• Which region is estimated to exhibit fastest growth rate in the global industrial enzymes market during 2022-2032?
• What is the projected market valuation of the industrial enzymes market in 2022?
• Which are the factors driving the industrial enzymes during 2022-2032?
• What is the expected growth rate of the industrial enzymes market until 2032?

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