According to the latest report by IMARC Group, titled "Industrial Enzymes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global industrial enzymes market grew at a CAGR of 6% during 2015-2020. Industrial enzymes are catalysts that are widely used to boost and accelerate chemical reactions across various industrial processes. They facilitate alternate reaction mechanisms without modifying the thermodynamic equilibrium constant of a chemical transformation. Consequently, they are extensively employed for minimizing the time requirement of the reaction. Their usage also ensures the maximum utilization of the resources, thereby resulting in improved production yield. They are commonly derived from plant tissues, animal tissues or microorganisms and are used in the food industry for the preparation of various foods, such as cheese and bread. They can also boost certain metabolic activities in the human body, including the digestion of food and the synthesis of deoxyribonucleic acid (DNA). Apart from this, they are increasingly utilized for diverse applications across the paper and pulp, textiles, and wastewater treatment sectors.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Industrial Enzymes Market Trends:
The market is majorly driven by considerable growth in the food and beverages sector. Industrial catalysts are increasingly being used in the sector for the production of packaged and processed food products. Since these catalysts aids in breaking down nutrients in metabolic reactions and the conversion of complex molecules into smaller ones, this is providing an impetus to the market growth. Moreover, there has been a significant increase in the adoption of biofuels across the globe on account of an enhanced focus on sustainable development among the masses. Several industrial enzymes, including lipase and phospholipase, form an indispensable component of biofuel production, which, in turn, is expected to provide a boost to the uptake of these catalysts. The market is further driven by the increasing sales of nutraceuticals and functional foods across the globe that employ industrial enzymes in their production. Supported by the rising health consciousness among the masses and their inflating disposable incomes, this is expected to create a positive outlook for the market. Some of the other factors contributing to the market growth include rapid industrialization, advancements in food technology and continual research and development (R&D) activities in the field of protein engineering. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2021-2026.
- On the basis of the product, the market has been divided into carbohydrases (amylases, cellulase and others), proteases, lipases, polymerases and nucleases, and others.
- Based on the source, the market has been classified into plants, animals and microorganisms.
- On the basis of the application, the market has been segmented into food and beverages, detergents, animal feed, biofuels, textiles, pulp and paper, nutraceuticals, personal care and cosmetics, wastewater treatment, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Adisseo (China National Bluestar (Group) Corporation), Advanced Enzyme Technologies, Associated British Foods Plc, BASF SE, Chr. Hansen Holding A/S, Koninklijke DSM N.V, DuPont de Nemours Inc., Enzyme Development Corporation, Lesaffre, Novozymes A/S, and Novus International Inc. (Mitsui & Co).
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