The global industrial enzymes
market is expected to reach USD 9.63 billion by 2024, according to a new report
by Grand View Research, Inc. The market is expected to witness significant
growth owing to increasing substitution of chemicals with industrial enzymes
particularly in food & beverage and nutraceutical applications.
Growing applications of
industrial enzymes for use in detergents and as ingredients in food processing
industry is expected to fuel the demand. Proteases are extensively used in the
detergent industry owing to its superior stain removal properties. However, the
demand in the detergent application is expected to witness sluggish growth
owing to market saturation.
Growing use of protease in
bakery products is expected to drive market growth. Furthermore, increasing
application scope of the product in nutraceutical industry as a digestive
enzyme is expected to drive demand.
Technological advancements in
the field of industrial enzymes have led to the use of the product as cleaning
agents. The increasing use of enzymes or waste water treatment is also expected
to drive the demand over the forecast period.
Neozymes, DSM, and Danisco
dominated the global industrial enzymes market in 2015 with the industry being
characterized by forward integration by manufacturers to distribution and
end-use. Manufacturers such as DuPont and DSM manufacture industrial enzymes
for specialized applications. The global industrial enzymes market is dominated
by North America due to the presence of a large number of manufacturers in the
U.S. and Canada.
In depth research report on Industrial Enzymes Market
Further key findings from the report suggest:
•
Industrial enzymes demand for
lipases is expected to witness substantial growth, growing at over 8.0% from
2016 to 2024. Increasing demand for the product in food & beverage and
textile industry is expected to augment growth over the forecast period.
•
The feed additive enzymes are
expected to be the fastest growing product segment, growing at over CAGR 9.0%
from 2016 to 2024. The increasing use of enzymes as a protein source in animal
feed is to improve performance in livestock which in turn is anticipated to
drive demand over the projected period.
•
Asia Pacific is expected to
witness substantial growth, growing at a CAGR of over 10.0% from 2016 to 2024.
Robust expansion in food processing industries particularly in Asia Pacific is
expected to augment growth. Furthermore, the supportive regulations promoting
the expansion of manufacturing industries is expected to have a positive impact
on market growth.
•
Europe accounted for over 29.0%
of the market share in 2015 and is expected to witness significant growth owing
to rising demand in pharmaceutical and textile industry. Stringent regulations
prohibiting the use of toxic chemicals and catalysts in various applications is
expected to positively impact market over the next eight years.
•
Key players in the industry
include BASF SE, Koninklijke DSM N.V, Novozymes A/S., Associated British Foods
PLC E. I. Du Pont De Nemours and Company Adisseo France SaS, Dyadic
International Incorporated CHR, Codexis Incorporated. Hansen Holding A/S, and
Amano Enzyme Incorporated.
Grand View Research has
segmented the industrial enzymes market on the basis of product, application,
end-use and region:
Industrial Enzymes Market Product Outlook (Revenue, USD
Million, 2013 - 2024)
•
Carbohydrase
•
Proteases
•
Lipases
•
Polymerases & nucleases
•
Others
Industrial Enzymes Market Application Outlook (Revenue,
USD Million, 2013 - 2024)
•
Technical
•
Feed additive
•
Food processing
Industrial Enzymes Market End-use Outlook (Revenue, USD
Million, 2013 - 2024)
•
Food & beverage
•
Detergents
•
Animal feed
•
Textile
•
Paper & pulp
•
Nutraceutical
•
Personal care & cosmetics
•
Wastewater
Industrial Enzymes Market Regional Outlook (Revenue, USD
Million, 2013 - 2024)
•
North America
•
U.S.
•
Canada
•
Mexico
•
Europe
•
Germany
•
UK
•
France
•
Asia Pacific
•
China
•
India
•
Japan
•
Latin America
•
Brazil
•
Middle East & Africa
•
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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