Industrial enzymes market size to grow by USD 2.19 billion between 2022 and 2027, Increasing demand for food enzymes to drive the market growth, Technavio
NEW YORK, March 8, 2024 /PRNewswire/ -- The industrial enzymes market size is forecasted to increase by USD 2.19 billion from 2022 to 2027, at a CAGR of 6.26%, according to the recent market study by Technavio. The surge in demand for cosmetics and personal care products is propelling market expansion, with enzymology emerging as a pivotal domain within dermatology and cosmetics. This innovative field focuses on unlocking enzymes to optimize skin appearance and mitigate issues. Coenzymes play a vital role in supporting enzymatic functions, fostering a vibrant complexion. Enzymatic solutions in cosmetics cater to diverse needs such as skin resurfacing, anti-aging, and addressing acne and pigmentation concerns, while also combating free radicals induced by environmental stressors. Superoxide dismutase (SOD) stands out as a critical protective enzyme against oxidative stress. Proteolytic enzymes facilitate protein breakdown, enhancing skin absorption and rejuvenation. Additionally, enzymes like diacylglycerol acyltransferase and lysyl/prolyl hydroxylase facilitate skin regeneration and collagen synthesis, resulting in a revitalized complexion. The escalating preference for organic products further fuels the growth trajectory of the enzymatic cosmetic market.
Charts & data tables about market and segment sizes for a historic period (2017-2021) and forecast period (2023-2027) have been covered in this report. Download the Sample Report
Key Company
The global industrial enzymes market is fragmented due to the presence of several small and medium-sized companies that are marketing their products with novel applications. Established vendors are backed by strong financials, considerable market experience, and strong supply and distribution networks spread across the globe. They are increasing their investments for facility expansion and acquiring companies with innovative products to expand their portfolios. The new product launch is also a key strategy being adopted by vendors to increase their market shares. All these factors will intensify the competition in the market during the forecast period. Some of the key vendors covered include:
- BASF SE - The company offers industrial enzymes such as the phytase enzyme, which provides feed manufacturers and farmers considerable cost savings while caring for the environment by reducing water pollution and helping animals digest their feed efficiently.
- Chr Hansen Holding AS - The company offers industrial enzymes for antibiotic test kits.
- Codexis Inc. - The company offers industrial enzymes, namely, HiTemp Reverse Transcriptase, Codex HiCap RNA polymerase, and Codex HiFi Hot Start DNA Polymerase.
- DuPont de Nemours Inc. - The company offers industrial enzymes namely, Duolite A568 Ion Exchange Resin, Duolite AP143 or 1073 resin, and Duolite AP143 or 1083 resin.
- Enzymatic Deinking Technologies LLC
- F. Hoffmann La Roche Ltd.
- Kerry Group Plc
- Koninklijke DSM NV
- Merck KGaA
- Nature BioScience Pvt. Ltd.
- Neogen Corp.
- Novozymes AS
- Novus International Inc.
- The Soufflet Group
- Thermo Fisher Scientific Inc.
Key Benefits for Buyers of this Report–
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Get a holistic overview of the industrial enzymes market from industry experts to evaluate and develop growth strategies. Download the Sample
Market Segmentation:
The market is segmented by application (food and beverage, detergents, animal feed, biofuel, and others), source (microorganisms, animals, and plants), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
- The market growth in the food and beverage segment will be significant over the forecast period. Industrial enzymes are extensively used in the food and beverage industry to provide good-quality products with increased production efficiency. Industrial enzymes help in providing eco-friendly products to consumers by reducing the consumption of energy, water, and raw materials. In addition, nutritional enzymes have gained prominence during the last few years with growing consumers' inclination toward digestive health. All these factors drive the growth of the segment.
Analyst Review
In the vast landscape of industry, living organisms such as bacteria, fungi, and plants have emerged as invaluable resources, catalyzing transformations across various sectors. Among these, the food and beverage industry, textile industry, pulp and paper industry, and biofuel production have witnessed profound shifts propelled by advancements in biotechnology, genetic engineering, and protein engineering.
At the heart of this transformative journey lie enzymes – nature's microscopic catalysts. These remarkable proteins, honed by evolution, now find themselves at the forefront of modern industrial processes. From the pharmaceuticals industry to biofuel production, their versatility knows no bounds, driving efficiency and sustainability.
However, this journey hasn't been without challenges. Navigating through regulatory guidelines such as the EU's REACH Regulation and standards like the Food Chemicals Codex demands meticulous attention. The lack of a uniform regulatory structure further complicates matters, necessitating close collaboration among stakeholders.
Amidst this complexity, industry associations like the Enzyme Technical Association (ETA) and the Association of Manufacturers & Formulators of Enzyme Products (AMFEP) play pivotal roles in fostering cooperation and setting industry standards.
Innovation remains the lifeblood of the industrial enzymes market. Continuous advancements in technologies drive efficiency gains and open new avenues for exploration. From novel enzyme products to groundbreaking applications, the landscape is ripe with possibilities.
Within this dynamic ecosystem, segments like proteases enzymes and oil treatment stand out, offering tailored solutions to diverse industries. The burgeoning plant-based enzymes segment, fueled by the demand for sustainable alternatives, exemplifies this trend.
Moreover, as industries seek to optimize processes and minimize environmental impact, solutions like Enhanced Oil Recovery (EOR) gain prominence, leveraging enzymes for sustainable resource management.
In conclusion, the industrial enzymes market embodies the convergence of biology and industry, offering solutions that redefine possibilities. As innovations continue to flourish, the journey towards a more sustainable and efficient future accelerates, powered by the extraordinary capabilities of enzymes.
Market Overview
The Industrial Enzymes Market is witnessing exponential growth, driven by diverse applications across various sectors. Living organisms such as bacteria and fungi are increasingly harnessed for enzyme production, fueling advancements in the food and beverage industry, where enzymes enhance processes from brewing to baking. Similarly, enzymes find extensive use in the textile industry for fabric processing and finishing. In the pulp and paper industry, enzymes aid in efficient pulp bleaching and paper recycling. Moreover, enzymes play a pivotal role in biofuel production, facilitating cost-effective conversion of biomass into fuel. The pharmaceuticals industry benefits from enzymes in drug synthesis and formulation, while biotechnology leverages enzymes for diverse applications, from genetic engineering to diagnostic assays. This burgeoning market underscores the pivotal role of enzymes in modern industrial processes.
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The lactase enzyme market is estimated to decline at a CAGR of 4.56% between 2022 and 2027. The size of the market is forecasted to increase by USD 154.25 million. The market is segmented by application (food and beverage, dietary supplements, and pharmaceuticals), type (dry and liquid), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Table of contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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