Industrial Enzymes Market: Global Industry Analysis and Forecast 2023-2029

Industrial Enzymes Market was valued at USD 7.09 Bn in 2022, and it is expected to reach USD 10.96 Billion by 2029, exhibiting a CAGR of 6.4 % during the forecast period (2023-2029)
Overview:
The increasing demand for industrial enzymes from the animal feed and nutraceutical industries is likely to drive market growth. Additionally, consumer health awareness is growing, which is boosting the consumption of functional food items and, as a result, fueling product demand in the forecast period. The market is facing challenges such as high sensitivity of enzymes to temperature and pH, as well as product handling security issues. These factors are expected to have an impact on market growth in the forecast period. Key players, on the other hand, are likely to benefit from increased adoption in a variety of end-use industries, including food and drinks, animal feed, biofuels, and diagnostics.

Over the forecast period, new product improvements and application base growths are expected to create several possibilities. North America dominated the market in terms of consumption, while Asia-Pacific is expected to grow at the fastest rate over the forecast period.To know about the Research Methodology:-Request Free Sample Report
Industrial Enzymes Market Dynamics
Drivers:

The growth of the Industrial Enzymes market is being driven by increased product demand from end-use industries such as biofuel, household cleaning, animal feed, and food and beverage. Growing demand for carbohydrase and proteases in food and beverage applications, particularly in Asia Pacific's emerging countries such as China, India, and Japan, is likely to drive the market. Furthermore, prosperity in developed economies may be attributed to greater industrialization and advancements in the nutraceutical industry. Such factors have greatly increased market growth.

Industrial Enzymes are in high demand in the food industry for applications such as food processing, grain extraction, cheese, dairy, food preservation, and others. Amylases are enzyms that catalyse the breakdown of starch into sugar. Furthermore, hydrolytic enzymes such as proteases are employed in dairy, while lipase, cellulases, and other enzymes are finding increasing usage in oils and fat processing, baking, brewing, and other industries. As a result, the rise of the food and beverage industry is driving the Industrial Enzymes Market. According to the India Brand Equity Foundation (IBEF), India's food manufacturing sector would be worth USD 535 billion by 2025-29. Besides, there is a growing need for industrial enzymes in culinary applications such as bread, dairy processing, and meat products.

Increased Demand for Renewable Energy Sources and Environmentally Friendly Products:

Enzymes are in high demand due to rising desire for clean and renewable alternatives. Enzymatic hydrolysis is a critical step in the bioethanol manufacturing process since it is where fermented sugars are acquired before the final fermentation process. Enzymes derived from biotechnology have long been acknowledged as a potential alternative to conventional chemicals and a method of resolving difficulties related with synthetic chemicals. Synthetic chemicals used in industrial processes are harmful to the environment. Benzoate-free enzymes are used to increase the nutritional value of food and feed. Enzymes minimise water use, chemical waste, and byproduct creation while posing minimal risk to humans and the environment. Plant-derived enzymes are expected to be less expensive, safer, and less harmful to the environment.

High demand in the detergent industry:

Industrial enzymes derived from microorganisms, such as lipases, amylases, proteases, and others, are finding increasing use in detergent composition. These enzymes are used in laundry detergents to remove stains such as perspiration and protein stains. Lipases are enzymes that are used to remove oily stains. These industrial enzymes save energy and are kind on the environment, making them useful in automatic dishwashing and detergent-based cleaning applications. Unilever, for example, has teamed with India Glycols and LanzaTech to create surfactant from industrial carbon emissions by 2022. As a result, the increased demand for industrial enzymes in detergent-based applications is fueling the growth of industrial enzymes in the personal care sector and providing significant market potential.
Industrial Enzymes: Trends and Opportunities
Growing Demand in Food and Beverage Applications:

With a total market share of more than 30%, the food and beverage industry dominates the industrial enzymes market. This is the fastest-growing application industry, driven mostly by the world's expanding population and rising spending power. People's increased desire for food quality, safer production procedures, and enhanced nutritional content is also influenced by health awareness. The growing desire for high-quality meals with natural flavour and taste has become a popular trend among today's customers. This tendency necessitated the creation of flavorful and pleasant processed meals employing industrial enzyme applications. These enzymes operate as catalysts, assisting in the breakdown of vitamins and nutrients in metabolic processes and inter-conversion. The food industry is always working to provide new dairy products, drinks, and food items for customers. The use of enzymes in the food and beverage industry has expanded in tandem with the creation of new products. With growing food industry innovation and advancement of technologies, industrial enzymes have found broad applications in fat modification and sweetener technology, boosting the industrial enzymes market. Thus, during the forecast period, all of the aforementioned factors are likely to enhance market demand for industrial enzymes.
Industrial Enzymes Market Segment Analysis
By Product Type, the Carbohydrases segment dominated the market, accounting for more than 47.0% of global revenue in 2022. Carbohydrase enzymes are used in a variety of sectors such as medicines, animal feed, and food and beverages. Carbohydrases are primarily employed as a catalyst to convert carbohydrates into sugar syrup, such as fructose and glucose, which is then used in the pharmaceutical and food, and beverage sectors.

Consumers' growing awareness of deteriorating nutrition levels has increased protein intake, which is likely to boost demand for proteases in the food sector throughout the forecast period. Additionally, the growth of the pharmaceutical, detergent, and chemical end-use industries in emerging countries like China, India, and Brazil is likely to drive segment growth in the forecast period.

By Source, in 2022, the microorganisms segment contributed more than 60% of revenue. Enzymes derived from microorganisms are classified into three types: bacterial, fungal, and yeast enzymes. Industrial enzymes derived from mushrooms include phenol oxidases, esterases, and hydrolases. Bacillus is the most common source of bacterial enzymes. The bulk of industrial enzymes is used in the detergent, pharmaceutical, and food and beverage industries. Fungi-based goods are a popular kind due to their increasing application in a variety of end-use industries. Fungal enzymes have several applications since they play an important part in the manufacture and preparation of a variety of food products such as beer, soy sauce, dairy products, processed fruits, and baked foods.

By Application, in 2022, the food and beverage segment dominated the market, accounting for more than 22.0% of global revenue. Industrial enzymes are essential in the production of healthy food and beverage products. Cheese processing, fruit and vegetable processing, fats and oils processing, grain processing, protein processing, and other food processing industries such as baking, dairy, cereal extraction, and brewing require customised solutions and unique enzyme products. Specialized enzyme solutions aid food and beverage companies in enhancing end product quality, increasing production, optimising resources, cutting costs, minimising environmental pollution, and reducing waste.
Industrial Enzymes Market Regional Insights
North America:

North America dominated the market in 2022, accounting for more than 38% of total revenue. The global market for industrial enzymes is dominated by the United States. Owing mostly to the production of beverages and biofuels, the nation has the greatest revenue share globally. The market for industrial enzymes is likely growing as a result of the rising demand for craft beer. In 2022, the US industrial enzymes market was dominated by the food and beverage industry, which held more than half of the market. Food and beverage sales in the US reached about USD 21,320 million in 2022, an increase of almost 14% from 2021. Owing to enhanced productivity, improved product value, and knowledge of green technology addressing environmental challenges, US businesses' high consumption is connected with growth in the research and development sectori, and industries using enzymes.

The industrial enzymes market in Mexico is growing rapidly due to rising processed food demand and expanded enzyme applications in the processed food sector, which are boosting demand for industrial enzymes in Mexico.

In Canada, the trend in baked goods consumption has shifted from conventional bread consumption to increased consumption of bakery items such as pancakes, cupcakes, croissants, and rolls. As a result, demand for industrial enzymes utilised in the food and beverage industries is expected to grow.

Asia Pacific:

APAC holds a 35% share of the global industrial enzymes market as a result of the region's rapid growth in the chemical, food & beverage, and healthcare industries. The market growth in the region is being driven by increased consumer spending and rapid population growth. The region's enzyme market is growing due to the presence of the biggest enzyme manufacturers, increased yeast enzyme sales, and rising demand for enzymes in the textile processing industry.

Europe:

Europe, one of the biggest manufacturers of pharmaceutical, cosmetic, and medical products, overtook the United States as the second-largest customer. The demand for enzymes is anticipated to increase due to the presence of significant pharmaceutical and cosmetic firms in the region. The region's growing rapidly textile industry and increasing population are anticipated to boost demand for enzymes used in textile processing. Europe is also a major producer of aeroplanes, rail coaches, aerospace equipment, and vehicles. As a result, the region's manufacturing sector is anticipated to have significant growth in the future, which will in turn stimulate the market growth in the region.

Scope of the Report

This research evaluates current activities and developments in each sub-sector, as well as revenue growth at the global, regional, and global levels (2023-2029). For this analysis, MMR divided the Industrial Enzymes market into product, Scope, Application and geographic locations. The market analysis also contains expected market estimates and trends for 17 countries spread throughout the world's primary geographic zones. The value for the aforementioned categories is provided in the report (in USD million).

The research also aids in understanding the Industrial Enzymes Market trends, structure, and size projections by evaluating market segments. The research serves as an investor's guide by providing a clear depiction of competition analysis of major competitors in the Industrial Enzymes Market by financial situation, product portfolio, growth plans, and geographical presence.
Industrial Enzymes Market Scope: Inquire before buying



Global Industrial Enzymes Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 7.09 Bn.


Forecast Period 2023 to 2029 CAGR:
6.4 %
Market Size in 2029:
US $ 10.95 Bn.


 Segments Covered:
by Types
• Carbohydrases
• Amylases
• Cellulases
• Proteases
• Lipases


by Application
• Food & Beverages
• Cleaning agents
• Animal feed
• Detergents
• Waste water treatment
• others


by Source
• Microorganisms
• Plants
• Yeast
• Animals
• Fungal



Industrial Enzymes Market, by Region:
● North America (United States, Canada and Mexico)
● Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
● Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
● Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
● South America (Brazil, Argentina, Columbia and Rest of South America)
Industrial Enzymes Market, Key players are:
• Chr. Hansen,
• Novozymes A/S,
• Codexis Inc.,
• Novus International Inc.,
• Associated British Foods (ABF) plc.
• AB Enzymes GmbH,
• E.I.du Pont de Nemours and Company,
• Advanced Enzyme Technologies Ltd.,
• Koninklijke DSM N.V.
• Amano Enzyme Inc.,
• BASF SE,
• DSM,
• DowDuPontInc,
• Roche
• Amano Enzymes Inc.
• Adisseo
• Codexis, Inc.
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc. (Affymetrix, Inc.)
• Amicogen Inc.
• AUM Enzymes
• Biocatalysts Ltd.
• Inofea AG
• Direvo industrial Biotechnology GMBH
• Dyadic International
• Enginzyme AB
• Enzymicals AG
• Genofocus, Inc.
• Maps Enzymes ltd.
• Speciality Enzymes and Biotechnologies company
Frequently Asked Questions:
1] What segments are covered in the Global Industrial Enzymes Market report?
Ans. The segments covered in the Industrial Enzymes Market report are based on Product, Source, Application, and Region.

2] Which region is expected to hold the highest share in the Global Industrial Enzymes Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Industrial Enzymes Market.

3] What is the market size of the Global Industrial Enzymes Market by 2029?
Ans. The market size of the Industrial Enzymes Market by 2029 is expected to reach USD 10.96 Bn.

4] What is the forecast period for the Global Industrial Enzymes Market?
Ans. The forecast period for the Industrial Enzymes Market is 2023-2029.

5] What was the market size of the Global Industrial Enzymes Market in 2022?
Ans. The market size of the Industrial Enzymes Market in 2022 was valued at USD 7.09 Bn.