Global Market Insights, Inc.: The Report 2019-2024 Industrial Enzymes Market Report explores the essential factors of the market considering such as industry situations, market demands, market players adopted business strategies and their growth scenario.
Based on the end-users, the industrial enzymes market is further segmented into food & beverage, detergents, personal care and cosmetics items, textile, paper processing etc. Although, the products find an extensive application in food and beverage industry mainly in making alcohol, bread, cheese etc. Moreover, packaged food & beverages have created a high demand for these industrial enzymes. These enzymes are proving to be a better substitute for non-renewable source of energy which has been encouraged by government owing to its environmental benefits. Furthermore, rising R&D investment by the players is being carried out to improve the high-end opportunities in the industrial enzymes market in the coming years.
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Industrial Enzymes Market size is likely to get a hike in its CAGR in the forecast period. Industrial enzymes are vastly used across various end-user industries including food processing, biofuels and pharmaceuticals. Industrial enzymes play a significant role in accelerating production processes across various end-user industries including food processing, cosmetics, personal care etc.in an environment-friendly manner.
In terms of application, the industrial enzymes market is segmented into pharmaceuticals, detergents & cleaners, cosmetics, food processing and others such as animal feed, textile and pulp & paper. Usage of these enzymes in food processing helps breaking down substances such as starch, pectin, cellulose and proteins from food items as it slowdowns the food processing process. It also helps to improve the physical properties of the food item too. Major product use in pharmaceuticals include prompting wound healing, killing disease-causing micro-organisms and diagnosing certain disease.
In terms of type, industrial enzymes market is again segmented into proteases, carbohydrase, lipases, and others (cellulases, amylases etc.). Proteases are types of enzymes that helps to digest protein element in the body and industrially it breaks the protein components in smaller chains called peptides or even smaller units called amino acids to make the food processing process quicker.
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Based on the regions, Asia-Pacific accounted for a major chunk of the overall industrial enzyme market size in 2016. It is expected to rise at a healthy CAGR primarily due to significant rise in healthcare, food & beverage, chemical, etc. industrial enzymes market which is attributed to rapid population pace along with rising consumer spending power/socio-economic factors in the region which will help attain substantial business size over the forecast timeframe.
Some major industrial enzymes market players are DSM, DuPont, Novozymes, Associated British Foods, Dyadic International Inc., Amano Enzyme Inc., Codexis Inc. and BASF SE. Some other players in the industrial enzyme market are Advanced Enzymes, Cargill Inc., Maps Enzymes Ltd. Organizations such as DSM is going ahead with strategic acquisitions to become the market leaders in the industrial enzyme market, DSM acquired the food enzymes and its technologies from Verenium at USD 15 million in March 2012.
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