The global Industrial Enzymes market is valued at US$5.6 billion in 2021 and is expected to grow at a CAGR of 5.0%, mainly due to the growing consumption of the chemical in Food and Beverage applications.
ChemIntel360’s global Industrial Enzymes Market study is a 226-page report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. The study offers granular value and volume data from a global, regional, and applications perspective.
Industrial Enzymes are mainly used to enhance the rate of chemical reactions. Growing demand from end-use industries, such as animal feed, and food & beverage along with rising consumer awareness of protein-based products is expected to drive market growth during the forecast period.
The base year is 2021 for the study with historical data between 2018 and 2021. The data forecast has been provided for the years between 2022 and 2029.
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Application insight:
The global Industrial Enzymes market is segmented into food and beverages, detergents, animal feed, biofuels, textiles, pulp and paper, nutraceutical, personal care and cosmetics, wastewater, and others, in terms of application.
The food and beverages segment dominated the market with a share of 22% in 2021. The consumption of Industrial Enzymes is expected to grow at a strong pace due to their increasing application in the food and beverage industry, specifically in meat processing and to produce dairy-based and bakery products. These enzymes are particularly used as food additives and processing aids.
Moreover, Industrial Enzymes also find large applications in the detergent industry with proteases, lipases, and amylases being the key enzymes used in laundry and machine-based washing.
Regional insight:
In 2021, North America accounted for 38.0% of the Industrial Enzymes market with the food & beverage and bioethanol manufacturing industries, accounting for a majority of revenues. In addition, strong research & development activities in the region along with the robust presence of several end-use industries, such as pharmaceuticals, food and beverage, and personal care is expected to support the growth of the regional Industrial Enzymes market.
Europe is the second-largest regional market due to the presence of key pharmaceutical firms such as Novartis, Novo Nordisk, Sanofi, GlaxoSmithKline, Bayer, and Merck, who are responsible for most of the demand.
Market Dynamics
Trend
The key trend observed in the market is the growing use of Industrial Enzymes to manufacture chlorine-free laundry detergents, mainly owing to their ability to remove greasy stains easily.
Drivers
The reduction of non-renewable energy reserves has augmented the need for producing bioethanol, which has a lower carbon footprint on the environment as compared to conventional fuel resources. Ethanol manufactured from natural resources such as sugarcane and beet can be utilized as a replacement and as an octane booster for conventional automotive fuels, such as gasoline and diesel.
The rise in consumption of Bioethanol based fuels has led to an increased usage of Industrial Enzymes, such as Carbohydrases and Proteases, which are utilized in Bioethanol manufacturing. Increased emphasis on the development of Biofuels by regulatory bodies would contribute to the growth of the market.
Opportunities
Industrial Enzymes can be utilized as a viable alternative to conventional products for chemical synthesis. The leather industry has shifted to greater use of Industrial Enzymes such as proteases and trypsin over conventional products such as lime, to garner similar yields with less environmental pollution. In addition, enzymes lower water consumption and decrease by-product generation, making it suitable from an environmental standpoint.
Challenges
The cost of manufacturing Industrial Enzymes is relatively high resulting in limited usage of the chemical in industrial applications. They are very sensitive to temperature and pH variations and can be rendered inactive by a slight rise in temperature. Moreover, impurities present alongside these enzymes can affect their overall chemical activity, which could lead to lower yields. These factors can hamper the market growth during the forecast period.
Covid Impact
The COVID-19 outbreak had a negative impact on the Industrial Enzymes market. The growth of key sectors such as biofuels was hampered, due to the closure of factories, which in turn affected the Industrial Enzymes market. Global biofuel production for transportation in 2020 witnessed an 11.6% decline from the previous year's output which marked the first drop in yearly production in the last two decades. As industries gradually resume full-fledged operations, demand is expected to pick up.
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Scope of the Global Industrial Enzymes report
This report provides an analysis of the latest industry trends and estimates revenue and volume growth at global, regional, and country levels. For this report, ChemIntel360 has segmented the global Industrial Enzymes market based on application, type, and region.
Some key players operating in the Industrial Enzymes market include Novozymes, Royal DSM, BASF, BioResource International, DuPont, Chr. Hansen Holding, Biocatalysts, Amano Enzymes, AB Enzymes, Lesaffre and Enzyme Development Corporation.
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