Industrial Enzymes Market by Type (Carbohydrase, Proteases, Lipases, Others), Application (Food & Beverages, Personal Care, Animal Feed, Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 7.3 billion mark in 2022 and is expected to hit US$ 11.5 billion by 2030, recording a CAGR of 6.4% during the forecast period.
Use of enzymes in various industries
The growing usage of enzymes in various application industries such as food and beverages, personal care, animal feed, etc. are boosting the growth of the market in the forecast period. In the skin, enzymes are responsible for uncoupling complex inactive molecules and transforming them into simpler and often more active molecules. Industrial enzymes have led to the development of products related to skin lightening. Moreover, enzymes are used mainly in the animal feed industry as feed additives to enhance nutrient digestibility, focusing on removing the anti-nutritive effects of non-starch polysaccharides. Thus, with increasing application areas the demand for industrial enzymes is expected to increase.
Within the report, the market is segmented into type, application, and geography. On the basis of type, the market is segmented into Carbohydrase, Proteases, Lipases, Others. By application, the market is categorized into food and beverages, animal feed, personal care, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing industrial Usage of microbial enzymes
Microbial enzymes play a major role in the industrial enzymes market because they are more stable than plant and animal enzymes. They can be produced through fermentation techniques in a cost-effective manner with less time and space requirement, and because of their high consistency, process modification and optimization are easily done. Thus, the use of enzymes is considered cost-effective, safe, and environmentally friendly. Moreover, the enormous diversity of microbial enzymes makes them an important source of raw materials for industrial applications, such as bioethanol, Paper & pulp, textile & leather, detergents, feed, and wastewater treatment.
Rising adoption of industrial enzymes by food & beverage manufacturers
Industrial enzymes play a vital role in manufacturing nutritious food and beverage products. Customized solutions and proprietary enzyme products are used in 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. Specialized enzyme solutions assist food and beverage producers in augmenting the quality of final products, manufacturing higher yield, optimizing resources, decreasing costs, lowering environmental pollution, and reducing wastage. Due to these factors the manufacturers are increasingly adopting enzymes as one of the essential ingredients in food and beverages.
Recent strategic developments in industrial enzymes market
The industrial enzymes market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2021, BASF signed an agreement with Sandoz GmbH, a subsidiary of Novartis, to invest at the Kundl/Schaftenau Campus in Austria. This agreement enables BASF to further develop its production footprint for enzymes and biotechnology products.
- In October 2018, DSM opened a second Animal Nutrition & Health premix plant in Jadcherla, India. This decision to expand its operations in India will help DSM grow in the Indian market. With this plant, DSM aims to provide tailor-made solutions for local needs.
The industrial enzymes market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Novozymes A/S, Nutrition & Biosciences, DSM, Kerry Group plc are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Industrial enzymes related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Application industry of industrial enzymes
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type
- Carbohydrase
- Proteases,
- Lipases
- Others
- Application:
- Food and Beverages
- Animal Feed
- Personal care
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- BASF SE
- Novozymes A/S
- Nutrition & Biosciences
- DSM
- Kerry Group plc
Companies profiled
- BASF SE
- Novozymes A/S
- Nutrition & Biosciences
- DSM
- Kerry Group plc