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Industrial Enzyme Market
Industrial Enzymes Being Widely Used as Catalysts to Improve Color and Texture of Food Products
ROCKVILLE, MARYLAND, UNITED STATES, June 11, 2024 /EINPresswire / -- The global industrial enzyme
market is approximated at a value of US$ 6.71 billion in 2024. According to the recently updated
industry report by Fact, a market research and competitive intelligence provider, worldwide revenue from the sales of industrial enzymes is projected to reach US$ 9.84 billion by 2034.
Industrial enzymes are widely used in the production of bakery products and beverages. They are also used in the textile, pharmaceutical, and pulp and paper industries. Enzymes are employed in baking applications such as for dough leavening. Enzyme's use aids in reducing the protein content from flour in biscuits, and in bread its helps to enhance quality and uniform browning.
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Carbohydrase, proteases, and lipases are some of the types of industrial enzymes. Carbohydrases are one of the widely consumed enzymes. Carbohydrases are exhibiting high applications in the production of pharmaceuticals, animal feed, and food & beverages. They act as catalyst to convert carbohydrates into sugar syrup. Carbohydrases are also used in the manufacturing of artificial sweeteners and prebiotic products.
Prime use of protease is in the catalytic hydrolysis of protein peptides to amino acids. This is vital for breakdown of protein in animal feed products, detergent, and chemicals.
Key Takeaways from Market Study
.Global demand for industrial enzymes is projected to expand at a CAGR of 3.9% from 2024 to 2034.
.The United States market is evaluated at US$ 941.1 million in 2024.
.The South Korea market is expected to register a CAGR of 8.7% through 2034.
.Carbohydrase is forecasted to hold 45.8% of the global market share by the end of the forecast period (2024 to 2034).
“Emergence of nanotechnology and immobilization set to boost stabilization of enzyme structures,” says a Fact analyst.
Key Companies profiled in This Report
AB Enzymes; Specialty Enzymes and Biotechnologies; Dyadic International; Lumis Biotech; Novozymes; BASF SE; Biocatalysts; BioResource International Inc.; Roche; Enzymatic Deinking Technologies; Dow Chemical; Enmex; Creative Enzymes; Enzyme Development Corporation; Advanced Enzyme Technologies; Amano Enzyme Inc.; Enzyme Supplies Limited.
Regional Analysis
East Asia is a key market for industrial enzyme producers. The presence of strong industries such as paper and pulp, textile, pharmaceutical, and food are increasing the consumption of industrial enzymes. Enzymes are used as therapeutic drugs to treat issues associated with enzymatic deficiency and digestive disorders. Feed enzymes are used to enhance the animal diet formulations. The growing worldwide demand for dairy products is positively influencing the use of enzymes in animal feed production.
Demand for industrial enzymes in North America is mainly driven by their increasing use in beverage and biofuel production. Enzymes are used for beer brewing. The high consumption of craft beer is set to boost the industrial enzyme market growth in North America.
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Competitive Landscape:
Industrial enzyme manufacturers are pursuing rapid adoption of novel technologies to increase product quality. Major competitors in the industrial enzyme market are increasing revenue through strategic efforts such as mergers, alliances, new product launches, and acquisitions.
In 2023, Novozymes invested in Danish Lyras' new UV technology. This method is expected to improve the working conditions of industrial enzyme manufacturers by reducing energy usage.
In 2021, Novozymes and Novo Nordisk Pharmatech will collaborate to provide best-in-class technological enzymes to enable biopharmaceutical production systems.
Explore More Related Studies Published by Fact Research:
Clean Label Enzyme Market : The global clean label enzyme market is projected to grow from $1,725.1 million in 2024 to $3,127.1 million by 2034, with a compound annual growth rate (CAGR) of 6.1% during this period.
Dairy Enzymes Market : The global dairy enzymes market was valued at $813.45 million in 2023 and is expected to grow at a CAGR of 7.8% to reach $1.72 billion by 2033.
More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the global industrial enzyme market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on product type (carbohydrases, proteases, lipases, others), application (technical, feed additives, food processing), and end-use industry (food & beverages, detergents, animal feed, personal care & cosmetics, nutraceuticals, textiles, others), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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