At CAGR of 6.6% Industrial Enzymes Market to Witness High Growth of $9.1 Billion by 2026

MarketsandMarkets Research Pvt. Ltd.
MarketsandMarkets Research Pvt. Ltd.

Increase in Environmental Concerns and the Rise in the Demand for Bioethanol to Drive the Growth of the Industrial Enzymes Market

Chicago, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Industrial Enzymes Market is estimated at USD 6.6 billion in 2021 and is expected to gain USD 9.1 billion by 2026, recording a CAGR of 6.6% during the forecast period.

New technical applications of enzymes are being developed to enhance the production processes. Numerous companies in the textile industry incorporate enzymes as an alternative to chemicals to produce mild reactions that lead to clean and chemical-free garments. Gene modification in the existing enzyme has resulted in significant developments to enable enzymes to be functional under altering temperatures and pH levels.

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Wastewater from households and various manufacturing companies contain high levels of fats and proteins with low biodegradability. Many pre-treatment systems are employed to remove oil and grease to prevent numerous problems that may otherwise arise in the biological process and reduce the efficiency of the wastewater treatment station. The usage of enzymes for water treatment helps in effectively breaking down organic waste and enhances the quality of water without any use of toxic chemicals.

Bread comprises a combination of ingredients, such as wheat flour, gluten lipids, starch, non-starch polysaccharides, and enzymes. The enzymatic treatment of wheat flour is considered an alternative to generate changes in dough structure and consequently improve the functional properties of the flour. It also assists in avoiding the early staling of bread, decreases production time, and acts as an alternative to chemical additives. In June 2018, Royal DSM (Netherlands) introduced a new product known as BakeZyme AAA, which claims to be an alternative to ascorbic acid and maintains ideal bread volume and texture.

Initially, animals were the only source of enzymes. The major source of animal enzymes is the pancreas or stomach of the animal. Animal-based enzymes were specifically extracted from cows and swine. Unlike all other enzymes, animal enzymes are associated with numerous concerns, as they function only at low pH levels. These enzymes are also found to be temperature sensitive. The most common animal enzymes are trypsin, pancreatin, and chymotrypsin. However, these enzymes are destroyed due to acidic conditions before they can perform their actual function. Thus, due to the temperature sensitivity, most animal enzymes are substituted by plant- and microorganism-based enzymes. This has illustrated a steady decrease in the demand for animal enzymes, thereby lowering their share in the market. Furthermore, enzymes derived from animal sources are unstable at a low pH environment, resulting in high costs for industrial applications. Animal-based enzymes are delicate, which requires extra care during handling and preparation, further increasing the cost of production.

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Europe accounted for a share of 21.9% in the industrial enzymes market in 2020, in terms of value. Enzymes, such as lipase, convert triacylglycerol and free fatty acids (FFAs) to fatty acid methyl esters, which are vital ingredients in biodiesel. The European Union seeks to limit greenhouse gas emissions by replacing fossil fuels with biofuels, such as biodiesel and bioethanol. Thus, owing to the rising concern for the environment and obligatory mandates from the governments of various countries, the industrial enzymes market in the European region is expected to boost in the coming years. The European Union regulations also mandate 10% renewable energy in the transportation sector, which is expected to drive the demand for ethanol and bioethanol in Europe.

Key Players:

Key players in this market include DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHr. Hansen Holdings A/S (Denmark), and Kerry Group (Ireland).

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