Major Key Trends in Industrial Enzymes Market
by Mit K. SEOThe industrial
enzymes market is estimated to be valued at USD 5.9 billion in
2020 and is projected to reach USD 8.7 billion by 2026, recording a CAGR of
6.5%, in terms of value. The growing environmental concerns and enzyme quality
in food & beverages and feed, and the rising demand for bioethanol are
factors that are projected to drive the growth of the industrial enzymes market
globally.
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The North American region
dominated the industrial enzymes market with the largest share in 2019, whereas
Asia Pacific is expected to witness the highest growth rate.
The industrial enzymes market in
North America was dominant due to the increasing demand for enzymes in
industrial applications. Technological innovations in machinery, optimization
of production, logistics, and globalization of business have made the food
& beverage industry one of the essential sectors in North America. However,
the shift of industrial operations from developed regions, such as North
America and Europe, to Asia Pacific, has further contributed to the growth of
the industrial enzymes market in the Asia Pacific region. The use of industrial
enzymes in textiles & leather and detergents has been fueling the market in
the Asia Pacific region. Furthermore, European consumers have shown an
inclination toward clean-label and organic products. This has enabled
manufacturers to consider organic ingredients as major components of the
products. Due to this, the industrial enzymes market in the European region is
led by the growing focus on the production of food & beverages, owing to
the functional benefits of enzymes.
Key Players:
·
BASF (Germany)
·
Novozymes (Denmark)
·
DuPont (US)
·
DSM (Netherlands)
·
Kerry Group (Ireland)
·
Dyadic International (US)
·
Advanced Enzymes (India)
·
Chr. Hansen (Denmark)
By
type, the carbohydrases segment is projected to account for the largest share
in the industrial enzymes market during the forecast period
The carbohydrases segment is
projected to dominate the market during the forecast period. They are
classified into amylases, cellulases, and other carbohydrases (such as
pectinases, lactases, mannanases, and pullulanases). Carbohydrases are used in
industrial applications, such as food & beverages, detergents, textiles
& leather, and bioethanol. They have added advantages to various industrial
applications due to their cost-effectiveness, less time & space
consumption, and ease in modification and optimization of the process.
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By application, the food & beverages
segment is projected to account for the largest share in the industrial enzymes
market during the forecast period
The demand for industrial enzymes
is increasing significantly due to the increasing application of enzymes in the
food & beverage industry. The food & beverage applications considered
for this study include meat processing, dairy products, beverages, bakery
products, nutraceuticals, and other food products (such as processed fruits
& vegetables, processed food, and vegetable oil processing). Enzymes used
in the food & beverage industry are distinguished into food additives and
processing aids. However, most enzymes used in food & beverage products are
considered as processing aids, and only a few are used as additives, such as
lysozymes and invertases.
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Created on May 26th 2020 08:11. Viewed 249 times.