Industrial Enzymes Market Size to Surpass US$ 9.7 Bn by 2030

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Tokyo, Dec. 02, 2021 (GLOBE NEWSWIRE) -- The global industrial enzymes market size was reached at USD 5.9 billion in 2020. Cheese, whiskey, bread, and fruit drinks all require industrial enzymes in their production. These are sophisticated proteins that aid biological reactions in their speeding up. The food and beverage industries, as well as the cleaning agents industry, rely heavily on enzymes. Plant tissue, animal tissue, and microbes are all sources of these compounds. Fermentation is the most common method for producing industrial enzymes. Enzymes help a variety of businesses maintain product quality and consistency while increasing manufacturing efficiency. They also assist in the provision of environmentally friendly products to consumers by using less energy, water, and raw materials, as well as producing less waste.

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Crucial factors accountable for market growth are:

• Increasing demand from animal feed and nutraceutical industries.
• Consumers desire for functional and high-quality food products.
• Rise in industrialization and surge in consumer awareness about the healthy diet.
  

Scope of the Industrial Enzymes Market

Regional Snapshots

North America dominated the Industrial Enzymes Market in 2020 contributing a market share of more than 35% and is estimated to grow significantly over the forecast period owing to the major market players in the region and the continuous research and developmental activities carried by these market players in order to find innovative applications of the industrial enzymes. For instance, On 6th October 2021, CHOOZIT FIT, a culture series for pasta filata cheese makers in Brazil, has been announced by IFF. Unlike other products on the market, CHOOZIT FIT is a phage-resistant culture series that enables medium-sized cheese manufacturers to produce high-quality, stretchy mozzarella that is exceptionally durable and consistent.

Market Dynamics

Driver

The high adoption of enzymes in the food industry for making various dairy products, the rising demand for digestive and nutritional enzymes, the increase in usage due to numerous environmentally friendly industrial activities, the increase in product usage in detergent manufacturing.

Restraint

In the projected period, the industrial enzymes market will be hampered by the rigorous regulatory framework and limitations identified in the use of enzymes, such as poor thermal stability and limiting substrate scope.

Opportunity

The rising need for an alternative to synthetic chemicals, combined with technological advancements and a broad industry scope, are providing several new chances for the industrial enzymes market to develop during the forecast period.

Challenges

The use of enzymes has some drawbacks, such as low thermal stability and a small substrate range and this is expected to be a major challenge that is encountered by the Industrial Enzymes Market.

Report Highlights

• The Carbohydrates product segment is expected to lead the market contributing more than 47.5% of the revenue share in the upcoming years.
• The Microorganisms source segment leads the market with a market share of more than 80.5% in 2020 and is estimated to grow significantly in the forecast period.
• The Food & Beverages Application segment of the Industrial Enzymes Market leads the market with a market share of more than 22% in 2020 and is estimated to grow significantly in the forecast period.
• By Geography, North America holds a significant share accounting for more than 35% revenue share in 2020 in the Industrial Enzymes Market because of the presence major market players in the region.

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Recent Developments

• In January 2021, Advanced Enzyme Technologies acquired a 51 percent controlling stake in SciTech Specialties Private Limited (SSPL) by subscribing to the issue of 492,630 SSPL equity shares and purchasing 27,778 SSPL equity shares from a few selling shareholders, for a total of 520,408 SSPL equity shares, or 51 percent of the company's paid-up share capital. As a result of the acquisition, Advanced Enzyme will be able to benefit from synergies with SSPL and expand its business-to-consumer categories. On 1st February 2021, Novozymes, a global pioneer in biological solutions, is expanding beyond its current foundation of microbial goods and innovation to enter the agricultural biocontrol area with promising enzyme-based technology. The new technology has the potential to control major pests that have a negative influence on agriculture and result in billions of dollars in annual losses.
• On 15th July 2021, Axtra PHY GOLD, the industry-leading new phytase enzyme, has been extended in Malaysia, Thailand, and Australia, according to Danisco Animal Nutrition, a branch of IFF's Health & Biosciences division. Axtra PHY GOLD was first marketed in India in 2020, and it will be available in all Asia Pacific markets after regulatory approval is received. Axtra PHY GOLD is the most bio effective phytase on the market today., allowing farmers to boost sustainability while reducing feed costs.

Segments Covered in the Report

By Product

• Carbohydrases
  • Amylases
  • Cellulase
  • Others
• Proteases
• Lipases
• Polymerases & Nucleases
• Others

By Source

• Plants
• Animals
• Microorganisms
  

By Application

• Food & Beverages
• Detergents
• Animal Feed
• Biofuels
• Textiles
• Pulp & Paper
• Nutraceutical
• Personal Care & Cosmetics
• Wastewater
• Others

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