Industrial Enzymes Market worth $11.2 billion by 2029
According to a research report "Industrial Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Application (Food & Beverages, Bioethanol, Feed, Detergents, Wastewater, Soil, and Oil Treatment), Source, Formulation and Region - Global Forecast to 2029" published by MarketsandMarkets, the global industrial enzymes market will grow from USD 7.9 billion in 2024 to USD 11.2 billion by 2029, growing at a CAGR of 7.2% during the forecast period.
Browse 335 market data Tables and 55 Figures spread through 352 Pages and in-depth TOC on "Industrial Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Application (Food & Beverages, Bioethanol, Feed, Detergents, Wastewater, Soil, and Oil Treatment), Source, Formulation and Region - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/industrial-enzymes-market-237327836.html
One of the key reasons for the rising importance of industrial enzymes is their unparalleled efficiency. These catalysts possess the remarkable ability to accelerate chemical reactions without being consumed themselves. By operating under mild conditions, such as low temperatures and pH levels, enzymes reduce energy requirements and associated costs. This heightened efficiency translates into improved productivity and shorter production cycles, enabling businesses to optimize their operations and maximize output.
Furthermore, the specificity and selectivity of enzymes contribute to their importance in industrial applications. These biocatalysts can target and catalyze specific reactions, ensuring precise control over desired chemical transformations. This specificity results in improved product quality, purity, and consistency. Industries ranging from food and beverages to textiles benefit from the reliability and precision offered by enzymes, enabling them to meet stringent regulatory standards and customer expectations.
The feed application of the industrial enzymes segment is driving the market due to improving nutrition
Feed enzymes play a pivotal role in driving the development of cutting-edge animal diets. With a deepening understanding of animal physiology and the intricate interplay between nutrients and enzymes, researchers are actively creating innovative enzyme formulations to precisely target specific dietary components. These advancements enable the formulation of highly tailored diets that cater to the distinct nutritional requirements of diverse animal species and various stages of production.
With the escalating global population, the demand for animal protein is on the rise. Nevertheless, the availability and pricing of feed ingredients are susceptible to fluctuations influenced by factors such as weather conditions, disease outbreaks, and market dynamics. According to Alltech's 11th annual feed production survey, which gathered data from over 140 countries and more than 28,000 feed mills, the global production of feed increased by 2.3% in 2021, reaching a total of 1.235 billion metric tons. The top ten countries in terms of feed production during the past year were as follows: China produced 261.424 million metric tons, the U.S. produced 231.538 million metric tons, Brazil produced 80.094 million metric tons, India produced 44.059 million metric tons, Mexico produced 38.857 million metric tons, Spain produced 35.580 million metric tons, Russia produced 33.000 million metric tons, Turkey produced 25.300 million metric tons, Japan produced 24.797 million metric tons, and Germany produced 24.506 million metric tons. In this context, feed enzymes present a compelling cost-effective proposition by optimizing the utilization of accessible feed resources. By doing so, they effectively curtail feed costs and mitigate wastage, thereby addressing the economic challenges associated with animal protein production.
The microorganisms’ enzymes segment is driving the market in industrial enzymes in 2023
Microorganism enzymes demonstrate remarkable versatility and adaptability, rendering them highly desirable across a wide range of industries, including food and beverage, pharmaceuticals, textiles, biofuels, and agriculture. Their ability to be engineered and modified enables them to precisely target specific substrates and perform an extensive array of enzymatic reactions. This inherent flexibility allows for their application in various industrial processes, where they excel in effectively breaking down complex compounds like lignocellulosic biomass, transforming them into valuable products. Moreover, through the utilization of genetic engineering techniques, microorganism enzymes can be tailored to exhibit superior performance characteristics such as enhanced catalytic properties, increased thermostability, and improved resistance to harsh conditions. This level of specialization empowers them to meet the precise needs of specific industrial applications and processes, making them an ideal choice in the business landscape.
South America is witnessing growth in the industrial enzymes market due to government support
The demand for industrial enzymes in South America is witnessing significant growth due to several key factors. The region boasts abundant agricultural resources, encompassing crops like corn, sugarcane, soybeans, and cassava. Industrial enzymes play a pivotal role in efficiently utilizing these raw materials by enhancing their conversion into valuable products. For instance, enzymes are extensively employed in biofuel production, facilitating the breakdown of lignocellulosic biomass into fermentable sugars. This enzymatic process maximizes resource utilization while minimizing waste generation, aligning perfectly with the region's objectives of resource optimization and value addition.
Furthermore, governments in South America are actively supporting the adoption of sustainable technologies, including industrial enzymes, through favorable policies and regulations. Incentives, tax benefits, and initiatives are being implemented to promote the use of eco-friendly processes, compelling industries to incorporate enzymes into their operations. This robust regulatory support serves as a significant driver, further bolstering the demand for industrial enzymes in the region's business landscape.
The key players in the industrial enzymes market include BASF (Germany), Novozymes (Denmark), DuPont (US), DSM (Netherlands), Associated British Foods plc (UK), Kerry Group plc. (Ireland), Advanced Enzyme Technologies. (India), Chr. Hansen Holding A/S (Denmark), Amano Enzyme Inc. (Japan), Aumgene Biosciences Pvt. Ltd. (India).
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Industrial Enzymes Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
