Dublin, Aug. 16, 2022 (GLOBE NEWSWIRE) -- The "Industrial Enzymes Market by Type ; Source ; Form ; Application - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The industrial enzymes market is expected to grow at a CAGR of 6.5% from 2022 to 2029 to reach $8.30 billion by 2029.
This market is characterized by more diversified operations, which offer alternatives to fossil fuels and nutritional products mainly due to rising environmental concerns and consumer preference for foods.
The high growth of the industrial enzymes market is mainly attributed to the factors such as growing environmental concerns and rising demand for bioethanol; increase in R&D activities and investments in the enzymes sector; advancements in enzyme engineering & green chemistry, the introduction of genetically-engineered enzymes; and the need for cost reduction and resource optimization in production processes. However, stringent regulations and restricted temperature & pH levels of enzymes are expected to hinder the growth of this market to some extent.
Based on type, the industrial enzymes market is segmented into carbohydrases, proteases, lipases, and others. The proteases segment is expected to grow at the highest CAGR during the forecast period. The high growth is mainly attributed to its multiple applications in diverse industries considering the eco-friendly nature of proteases due to its non-toxic and non-pathogenic attributes and the feasibility of large production of protease enzymes in a short time.
Based on the source, the industrial enzymes market is segmented into microorganisms, animals, and plants. The microorganisms segment is expected to account for the largest share of the industrial enzymes market in 2022. Due to its high stability, cost-effectiveness, less time & space requirement, high consistency, and increasing demand in food & beverages, pharmaceutical, animal feed, and wastewater treatment industries are contributing to the largest share of this segment.
Based on form, the industrial enzymes market is segmented into solid and liquid. In 2022, the liquid form segment is expected to account for the larger share of the industrial enzymes market. The large share of this segment is mainly attributed to its high performance-stability in food processing, ease of use, less quantity requirement, and increasing demand in household care and food & feed industries.
Based on application, the industrial enzymes market is segmented into food & beverages, household care, animal feed, biofuel, and other applications. The food & beverages segment is expected to register the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the growing awareness about nutritional requirements, increasing demand for processed food products, changing dietary habits, rising consumer desire for natural and customized food products, and increased application of enzymes in beverages.
The food & beverage segment is further segmented into bakery; dairy; beverage; meat, fish and egg processing; grain and oilseed processing; and other food applications. In 2022, the bakery segment is expected to dominate the food & beverage enzymes market.
Europe is expected to register the highest CAGR during the forecast period of 2022-2029. The highest growth rate of this region is mainly attributed to the growing demand for biofuels, changing lifestyles & emerging trends of healthy food, increasing awareness of health & wellness, and stringent environmental norms curbing the use of chemicals.
Key Questions Answered in the Report
What is the current value of revenue generated by the industrial enzymes market?
At what rate is the demand for industrial enzymes projected to grow for the next 5-7 years?
What was the historical market size and growth rate for the industrial enzymes market?
What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
What impact does the current COVID-19 pandemic have on the industrial enzymes market?
Which segments in terms of type, source, form, and application have created the major traction for the manufacturers in this market in recent years?
What are the key geographic trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the industrial enzymes market?
Who are the major players in the industrial enzymes market? What are their specific product offerings in this market?
What recent developments have taken place in the industrial enzymes market? What impact have these strategic developments have created on the market?
Some of the key players operating in the industrial enzymes market
International Flavors & Fragrances Inc.
Koninklijke DSM N.V.
AB Enzymes GMBH
Amano Enzyme Inc
Chr. Hansen Holding A/S
F. Hoffmann-La Roche AG
Advanced Enzyme Technologies Ltd
Bluestar Adisseo Company
A E B Africa Ltd
Novus International Inc.
Enzyme Development Corporation
BioResource International Inc.
Qingdao Vland Biotech Co. Ltd.
Nature Bioscience Pvt. Ltd
Growing Environmental Concerns and Rising Demand for Bioethanol
Increase in R&D Activities and New Product Launches in the Enzyme Sector
Need for Cost Reduction and Resource Optimization in the Production Process
Advancements in Enzyme Engineering & Green Chemistry and the Introduction of Genetically-Engineered Enzymes
Restricted Temperature and pH Levels of Enzymes
High Costs of Raw Materials Limiting the Usage of Enzymes
Concerns Over the Quality of Enzymes Used in the Food & Beverages and Feed Industries
Growing Demand for An Alternative to Synthetic Chemicals
Scope of the Report:
Global Industrial Enzymes Market, by Type
Global Industrial Enzymes Market, by Source
Global Industrial Enzymes Market, by Form
Global Industrial Enzymes Market, by Application
Food & Beverage
Meat, Fish, and Egg Processing
Grain and Oilseed Processing
Other Food Applications
Global Industrial Enzymes Market, by Region
Rest of Europe
Rest of APAC
The Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/nk7kbx
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