2016 - 2026
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The industrial enzyme market was valued at over USD 6,300 million in 2020, and the market is projected to register a CAGR of more than 6% during the forecast period (2021-2026).
The industrial enzymes market's growth is hampered by the COVID-19 pandemic, as lockdowns, social distances, and the shutdown of production plants globally have impacted the automotive industry, which in turn, impacted the biofuel industry. The biofuels industry has been strongly impacted by the COVID‑19 pandemic. Global transport biofuel production in 2020 is around 144 billion liters, equivalent to 2,480 thousand barrels per day (kb/d), an 11.6% drop from 2019’s record output and the first reduction in annual production in two decades, thus, creating a negative impact on industrial enzymes market.
- Over the medium term, the major factors driving the growth of the industrial enzymes market are the growing diversity in enzyme applications such as food and beverage, pharmaceuticals, detergents, cosmetics, and other industries. Also, the growing demand for enzymes due to increasing environmental norms and regulations regarding the use of chemicals is likely to boost the market growth of industrial enzymes.
- New product innovations and expansions of application bases are anticipated to provide numerous opportunities over the forecast period.
- North America dominated the market, with the largest consumption, but Asia-Pacific is likely to register the highest CAGR through the forecast period.
Scope of the Report
Enzymes are proteins that catalyze chemical reactions. As such, enzymes have been widely used to facilitate industrial processes and the production of products, and these enzymes are referenced as industrial enzymes. The industrial enzyme market is segmented by type, application, and region. By type, the market is segmented into carbohydrases, proteases, lipases, and other types. By application, the market is segmented into food processing, animal feed, healthcare, textiles, leather processing, detergents and cleaners, bio-fuel, and other applications. The market also offers the market size and forecasts for the industrial enzymes market in 18 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
|Detergents and Cleaners|
Key Market Trends
Growing Demand from Food Processing Applications
- Food processing dominates the industrial enzymes market with a total share of more than 35%. This is the fastest-growing application segment, mainly supported by the ever-growing global population and its increasing purchasing power. Health awareness is also a factor for people‘s increasing demand for food quality, safer production processing, and improved nutritional value.
- The increasing demand for higher quality foods in terms of natural flavor and taste has become a common trend among present consumers. This trend triggered the need for the development of flavored and tasty processed foods using industrial enzyme applications. These enzymes act as catalysts by playing important roles in the breaking down of vitamins and nutrients in the metabolic reactions and inter-conversion of complex molecules to smaller molecules.
- Food enzymes, such as amylase, cellulase, xylanase, pectinase, protease, lipase, glucosyltransferase, arabinanase, polygalacturonanace, chymosin, and beta-glucanase, among others, have become an essential part of the global food additives industry.
- The food industry is continuously involved in developing new dairy products, beverages, and food items for consumers. With the development of new products in the food and beverage industry, the application of enzymes in the industry has continuously increased.
- With the increased innovation and development of technologies in the food industry, industrial enzymes have found extensive application in fat modification and sweetener technology, thereby driving the industrial enzymes market.
- The global revenue of the food and beverage industry is projected to reach USD 276.9 billion in 2021 from USD 240 billion in 2020, and it is estimated to register a CAGR of more than 8% during the period, 2021-2025.
- All the aforementioned factors are expected to increase the market demand for industrial enzymes during the forecast period.
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North America to Dominate the Market
- North America has the highest share, accounting for more than 30% of the global market.
- The United States occupies the top position in the global industrial enzymes market. The country has the largest revenue share globally, owing largely to beverage and biofuel production. Increasing demand for craft beer is likely to be responsible for the growth of the industrial enzymes market.
- Food processing application has dominated the US industrial enzymes market, accounting for more than half of the total market share in 2019. The US revenue in the food and beverages segment is projected to reach USD 21,320 million in 2021, witnessing a rise by around 14% from 2020.
- Mexico is expected to grow at the highest rate in the North American market, owing to growing mergers and acquisitions in the detergent and food processing industry to meet the demand in the country.
- In Canada, dairy products are majorly responsible for the demand for industrial enzymes. With the Industrie 2030 strategy, along with the government’s interest in fostering business investment, the manufacturing sector is expected to grow in the country, which, in turn, is likely to drive the demand for industrial enzymes.
- The high consumption in the US industries is correlated with awareness regarding green technologies addressing environmental issues, enhanced productivity, and better product value, thus leading to growth in the research and development sector and industries using enzymes.
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The industrial enzyme market is dominated by the top five players, namely, Novozymes, DuPont, Royal DSM, AB Enzymes, and BASF, accounting for about 75% of the total market. Other recognized players in the market are Amano Enzymes, Biocatalysts, BioResource International Inc., Chr. Hansen Holding AS, Enzyme Development Corporation, Lesaffre, and other companies.
- In January 2021, Advanced Enzyme Technologies completed the acquisition of controlling stake of 51% in SciTech Specialities Private Limited (SSPL) by way of subscription to the issue of 492,630 equity shares of SSPL and the purchase of 27,778 equity shares from few selling shareholders of SSPL, aggregating to 520,408 equity shares i.e. 51% of paid-up share capital of SSPL. The acquisition will help Advanced Enzyme leverage synergies with SSPL and expand its business-to-consumer segments.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Diversity in Enzyme Applications and Niche Products
4.1.2 Stringent Environmental Norms Curbing the Usage of Chemicals
4.2.1 Restricted Temperature and pH Levels of Enzymes
4.2.2 Competition for Raw Materials with Other Industries and Price Volatility
4.2.3 Impact of the COVID-19 Pandemic
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
22.214.171.124 Other Carbohydrases
126.96.36.199 Trypsins (API and Non-API)
188.8.131.52 Other Proteases
5.1.4 Other Types
5.2.1 Food Processing
5.2.2 Animal Feed
5.2.5 Leather Processing
5.2.6 Detergents and Cleaners
5.2.8 Other Applications
184.108.40.206 South Korea
220.127.116.11 Australia and New Zealand
18.104.22.168 Rest of Asia-Pacific
5.3.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AB Enzymes
6.4.2 Advanced Enzyme Technologies
6.4.3 Amano Enzyme Inc.
6.4.4 BASF SE
6.4.6 BioResource International Inc.
6.4.7 Chr. Hansen Holding AS
6.4.10 Enzyme Development Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 New Product Innovation and Expansion of Application Base
7.2 Increasing Demand from Industries in Emerging Economies
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Frequently Asked Questions
What is the study period of this market?
The Industrial Enzymes Market market is studied from 2016 - 2026.
What is the growth rate of Industrial Enzymes Market?
The Industrial Enzymes Market is growing at a CAGR of >6% over the next 5 years.
What is Industrial Enzymes Market size in 2016?
The Industrial Enzymes Market is valued at 6300 Million USD in 2016.
Which region has highest growth rate in Industrial Enzymes Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Industrial Enzymes Market?
North America holds highest share in 2020.
Who are the key players in Industrial Enzymes Market?
- AB Enzymes
- BASF SE
Are the major companies operating in Industrial Enzymes Market.