The global industrial enzymes market was valued at USD 5.25 billion in 2018 and is expected to reach USD 8.11 billion in 2026, growing at a CAGR of 5.78% during the forecast period.Industrial enzymes are biological catalysts used to boosts the production processes and increase chemical reactions. The industrial enzymes are used in various industrial and chemical applications which include brewing, tanning, baking, and animal feed & biofuel production. Based on applications, different types of enzymes such as cellulases, amylases, proteases, phytases, and lipases are used.The growth of the industrial enzymes market is primarily driven by the rising enzymes demand from food & beverage, nutraceutical, and textile applications, increase in the consumption of processed food and packaged food across the globe, and multi-functionality of industrial enzymes. Furthermore, increase in demand of enzymes in packaged foods and growing demand for personal care products and cosmetics, such as skin repair creams, toothpaste, mouthwashes, and whiteners, is estimated to boost the market growth. Moreover, changing lifestyles of consumers across developed countries, growing pharmaceutical and food industry, technological advancement, and increase in the number of applications, and alternative to synthetic chemicals are expected to create opportunities for the manufacturers in the global market over the forecast period. However, stringent government regulations in industrial production and safety & quality concerns of products are expected to hamper the growth of the global industrial enzymes market in the coming years.The protease segment expected to dominate the market throughout the forecast periodBased on the type, the global industrial enzymes market has been segmented into amylases, cellulases, proteases, lipases, phytases, and others. The protease segment accounted for approximately 37% of the share in the global industrial enzymes market in 2018. Increase of protease enzymes in the food and beverage industry in the production of a variety of sugar syrups and prebiotics is further expected to raise segment over the forecast period. Based on the application, the food & beverages segment is expected to grow at a CAGR of around 6.2% throughout the forecast periodBased on the application, the market has been segmented into food & beverages, cleaning agents, animal feed, and others. The food & beverages segment accounts of the largest share in the market and are expected to grow at a CAGR of around 6.2% during the forecast period. Food enzymes enhance the shelf life and quality of products which grows the demand for enzymes in food & beverage applications. The manufacturers BASF SE DowDuPont, Associated British Foods plc, Koninklijke DSM N.V., and Novozymes A/S are the mainly investing in the development of industrial enzymes for the food & beverages application, which expected the lead the market in the coming years. Based on the source, the micro-organisms segment is expected to dominate during the forecast periodBased on the source, the market has been segmented into micro-organisms, plants, and animals. The micro-organisms segment accounts of the largest share in the market and held for more than 45% of the total market in 2018. The major factors that are driving the growth of this segment are the rising demand micro-organisms for commercial enzyme production and economic, effective, and have a controllable enzyme content. This expected to enhance the dominance of the micro-organisms segment in the global market over the forecast period.North America to dominate the industrial enzymes market throughout the forecast periodNorth America accounted for nearly 35% share of the global industrial enzymes market in 2018 and is expected to dominate the market throughout the forecast period. The rapid consumption of enzymes in various end-user industries enhanced productivity, and better product value is the major driving factor for the region in the global market. Moreover, the increasing demand for nutritional & healthy products and diversification in the region’s food sector are expected to enhance the market growth in the global industrial enzymes market in future. Asia Pacific is expected to hold the highest CAGR in the global market during the forecast period. The manufacturers are investing in developing countries to meet the demand for industrial enzymes. Moreover, rapid industrialization in countries, such as China, Korea, Thailand, Japan, and India, are expected to enhance the market growth in the global industrial enzymes market during the forecast.Company Profiles and Competitive Intelligence:The major players operating in the global industrial enzymes market are BASF SE (Germany), DowDuPont (US), Associated British Foods plc (UK), Koninklijke DSM N.V. (Netherlands), and Novozymes A/S (Germany), Dyadic International Inc. (US), Advanced Enzyme Technologies Ltd (India), Adisseo (China), Chr. Hansen Holding A/S (Denmark), and Amano Enzyme Inc. (US) among others.
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