Global Industrial Enzymes Market: By Type (Proteases, Polymerases & Nucleases, Lipase, and Others), By Application (Food Processing, Personal & Household Care, Pharmaceuticals, Textiles, Cosmetics, Leather Processing, Pulp & Paper, and Others), By Source (Animals, Plants, and Micro-organisms), and Geography – Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global industrial enzymes market valued at US $ XX Mn in 2017 and expected to grow at 6.0% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Industrial Enzymes Market
Industrial enzymes are used in a variety of industries such as pharmaceuticals, chemical production, food & beverages etc. Industrial enzymes are molecules or complex proteins, which help catalyze biochemical reaction. Industrial enzymes are used for the production of fruit drinks, alcohol, bread, and cheese. They are extracted from microorganisms, animal and plant tissues. Industrial enzymes are environmentally friendly and helps to substitute non-renewable chemicals.
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Market Dynamics: Industrial Enzymes Market
The industrial market is majorly driven by increasing demand for food and beverages owing to changing lifestyles. The advancements in biotechnology, mainly in the field of protein engineering, is the aid in the innovation of new products. Moreover, increasing investment in the food and beverage and pharmaceutical industry is expected to drive the overall industrial market growth. Increase in the consumption of processed food and packaged food around the world, leads to a rise in demand for the industrial enzymes in various countries. The strong demand for enzyme-rich food and beverages is therefore one of the major factors responsible for the growth in the industrial market. HOWEVER, stringently regulating the over the use of industrial enzymes is the growth of the market. Factors such as, the safety and quality of the product, regulatory concerns are the industrial market growth.
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Market Scope: Industrial Enzymes Market
Industrial market is segmented based on the type, application, and source
Based on the type, the market is segmented into the following:
- Carbohydrases
- Cellulases
- Amylases
- Others
- Proteases
- Polymerases & Nucleases
- lipase
- Others
Based on the application, the market is segmented into the following:
- Food Processing
- Bakery Applications
- Dairy Applications
- Brewing Applications
- Others
- Personal & Household Care
- Pharmaceuticals
- Textiles
- Cosmetics
- Leather processing
- Pulp & Paper
- Others
Based on the source, the market is segmented into the following:
- Animals
- Plants
- Micro-organisms
Regional Analysis: Industrial Enzymes Market
Geographically, the global industrial market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America’s industrial market is growing due to increase in demand for food and beverages. The growing disposable income of people over the food and beverages in the Asia-Pacific region. Followed by North America is the European region and Asia Pacific regions. Asia Pacific is expected to grow and grow in the Pacific Ocean region.
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Competition Assessment: Industrial Enzymes Market
Some of the players in the global industrial market include:
- Koninklijke DSM NV (Netherlands)
- Novozymes A / S (Denmark)
- BASF SE (Germany)
- I. DuPont de Nemours and Company (US)
- Associated British Food Plc (UK)
- DSM (Netherlands)
Notable Market Developments: Industrial Enzymes Market
- In July 2016, DSM launches new enzyme solutions at IFT17 to improve the softness and moistness of gluten-free bread.
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