Industrial Enzymes Market Size
|Base Year For Estimation||2022|
|CAGR||> 6.00 %|
|Fastest Growing Market||Asia-Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Industrial Enzymes Market Analysis
The industrial enzyme market is projected to register a CAGR of more than 6% during the forecast period.
The industrial enzymes market's growth is hampered by the COVID-19 pandemic, as lockdowns and the shutdown of raw material supply chains and enzyme production plants globally have impacted several end-user industries. The biofuel industry has been strongly impacted by the COVID19 pandemic. In 2022, global transport biofuel production has improved significantly, creating a positive impact on the 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.
- On the flip side, factors such as restricted temperature and pH level of enzymes, regulatory constraints for various markets and competition for raw materials are expected to hinder the market growth.
- New product innovations and expansions of application bases are anticipated to provide numerous opportunities over the forecast period.
- North America dominated the market and Asia-Pacific is likely to register the highest CAGR through the forecast period.
Industrial Enzymes Market Trends
This section covers the major market trends shaping the Industrial Enzymes Market according to our research experts:
Growing Demand from Food and Beverage Applications
- The food and beverage segment dominates the industrial enzymes market. 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 in people's increasing demand for food quality, safer production processing, and improved nutritional value.
- The increasing demand for high-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.
- As per data published by StatCan in Canada, the retail sales of food and beverages was USD 114.60 billion in 2021.
- According to a report published by US Census Bureau, the sale of retail food and beverage in United States increased significantly from USD 850.2 billion in 2020 to USD 880.3 billion in 2021.
- With the increased innovation and development of technologies in the food industry, industrial enzymes have found extensive applications in fat modification and sweetener technology, thereby driving the industrial enzymes market.
- All the aforementioned factors are expected to increase the market demand for industrial enzymes during the forecast period.
To understand key trends, Download Sample Report
North America to Dominate the Market
- North America has the highest share, accounting for more than 30% of the global market. North America dominated the industrial enzymes 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. The increasing demand for craft beer is likely responsible for the industrial enzyme market's growth.
- The United States is the second largest automotive manufacturing country globally, falling only behind China. According to OICA, automotive production in 2021 accounted for 9,167,214 units. The National Automobile Dealers Association (NADA) predicts that the United States new light-vehicle sales are likely to increase by 3.4% to 15.5 million units in 2022. The production of automobiles is anticipated to ascend in the upcoming future owing to the rising popularity and affordability of the vehicles. This will lead to the growth of leather processing which is required for upholstery in automobiles.
- As per the report published by he Observatory of Economic Complexity (OEC), the leather exports of United States Leather Footwear have increased by USD 8.09 million from USD 28.5 million to USD 36.5 million from October 2021 to October 2022.
- The industrial enzymes market is witnessing rapid growth in Mexico due to the increasing demand for processed food and increased applications of enzymes in the processed food industry, which are driving the demand for industrial enzymes in Mexico.
- Further, the food & beverage industry in Mexico is likely to upscale with growing investments by multinational food & beverage producers. The food processing industry has recently attracted investment worth USD 700 million from Nestle to modernize its 16 factories in the country and construct a new one in Veracruz.
- In Canada, the demand for baked goods has moved from the traditional bread consumption trend to the increasing consumption of bakery goods, such as pancakes, cupcakes, croissants, and rolls. This, in turn, is likely to drive the demand for industrial enzymes used in the food and beverage industry.
- The high consumption in the U.S. 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.
To understand geography trends, Download Sample Report
Industrial Enzymes Industry Overview
The industrial enzymes market is consolidated in nature and is dominated by the top five players, namely, Novozymes, DuPont, Royal DSM, AB Enzymes, and BASF.
Industrial Enzymes Market Leaders
*Disclaimer: Major Players sorted in no particular order
Industrial Enzymes Market News
- In December 2022, Novozymes announced the merger with Chr. Hansen, a Danish company of agricultural, pharmaceutical, and food ingredients. This merger is a strategic move for Novozymes to strengthen its hold in the market.
- In August 2022, BASF divested its BASF Nutrilife baking enzymes business segment to Lallemand Inc which is an enzyme manufacturer. Lallemand has a unique product portfolio such as Lallemand yeast and bacteria technology platforms.
- In November 2021, Novozymes and Novo Nordisk Pharmatech collaborated on the development of best-in-class technical enzymes to support production processes in the biopharmaceutical industry. This collaboration will help Novozymes to scale up the processes in the regenerative medicines market.
Industrial Enzymes Market Report - 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 Surge in Demand for Biofuels in the Americas
4.1.2 Growing Diversity in Enzyme Applications and Niche Products
4.1.3 Stringent Environmental Norms Curbing the Usage of Chemicals
4.2.1 Restricted Temperature and pH Levels of Enzymes
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 (Market Size in Value)
220.127.116.11 Trypsins (API and Non-API)
18.104.22.168 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
5.2.7 Bio Fuel
5.2.9 Other Applications
22.214.171.124 South Korea
126.96.36.199 Australia and New Zealand
188.8.131.52 Rest of Asia-Pacific
5.3.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 United Arab Emirates
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) Analysis** / 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
- *List Not Exhaustive
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
Industrial Enzymes Market Research FAQs
What is the current Industrial Enzymes Market size?
The Industrial Enzymes Market is projected to register a CAGR of greater than 6% during the forecast period (2023-2027).
Who are the key players in Industrial Enzymes Market?
Novozymes, DuPont, AB Enzymes, BASF SE and DSM are the major companies operating in the Industrial Enzymes Market.
Which is the fastest growing region in Industrial Enzymes Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2027).
Which region has the biggest share in Industrial Enzymes Market?
In 2023, the North America accounts for the largest market share in the Industrial Enzymes Market.
industrial enzyme Industry Report
Statistics for the 2023 industrial enzyme market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. industrial enzyme analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.