According to a recent report by Reports and Data, the global industrial enzymes market is expected to reach USD 9.77 billion by 2028, with a CAGR of 6.4% during the forecast period. The market growth is primarily driven by increasing demand for environmentally friendly solutions, higher use of enzymes in animal feed industry, rising demand for bioethanol, and increasing focus on research and development activities.
Industrial enzymes are specific types of enzymes that are commercially used in various industries. These include carbohydrases, lipases, proteases, polymerases and nucleases, and others. Carbohydrases are primarily used in food and beverages, textiles and leather, bioethanol, and detergents. The food and beverage segment accounted for the largest revenue share in the global market in 2020. Industrial enzymes are being increasingly used in the food and beverage industry to improve productivity, consistency, and sustainability.
Technological advancements and rising investments in research and development activities are other factors driving the demand for industrial enzymes. Companies are substituting chemical agents with sustainable enzymes to manufacture commercial products, such as detergents, textiles, and cosmetics, with the aim of reducing harmful chemical agents and CO2 emissions. Increasing adoption of high-performance enzymes in the food and beverage industry is also expected to drive market revenue growth over the forecast period.
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The market report includes some key highlights, such as the launch of phytase enzyme Axtra PHY GOLD by Danisco Animal Nutrition in Australia, Malaysia, and Thailand, and the completion of a new demonstration plant by Carbios capable of processing over 2 tons of PET per cycle. The market report also profiles major companies in the industrial enzymes market, such as Advanced Enzymes, Amano Enzymes, Aumgene Biosciences, Biocatalysts, Enzyme Supplies, Creative Enzymes, Enzyme Solutions, Enzymatic Deinking Technologies, Sunson Industry Group, DuPont, and DSM.
The global industrial enzymes market is segmented based on type, source, form, application, and region. The report predicts a significantly steady revenue share for the market in North America over the forecast period, due to technological advancements in key end-use industries such as food processing and pharmaceuticals, and increasing focus on biotechnological research and development activities by various companies.
Industrial Enzymes Market: Drive factors
The global industrial enzymes market is projected to reach a market size of USD 9.77 billion by 2028, growing at a CAGR of 6.4% during the forecast period. Several factors are contributing to the growth of this market, including an increasing focus on the adoption of environmentally friendly solutions, the growing use of enzymes in the animal feed industry, rising demand for bioethanol, and a focus on research and development activities.
Industrial enzymes are specific enzymes used commercially in different end-use industries. Some of the major types of industrial enzymes used are carbohydrases, lipases, proteases, polymerases and nucleases, and others. Carbohydrases are used to break down carbohydrates into simple sugars, with amylases, pectinases, cellulases, pullulanases, lactases, and mannanases being some of the most commonly used types. These enzymes are primarily used in food and beverages, textiles and leather, bioethanol, and detergents, with the food and beverage segment accounting for the largest revenue share in 2020. The increasing use of industrial enzymes in dairy products, beverages, processed meat, nutraceuticals, bakery products, and other processed food items is anticipated to drive growth in this segment.
Rising investments in research and development activities and technological advancements are also driving the demand for industrial enzymes. For example, the EU 2020 Futur Enzyme project, coordinated by the Spanish National Research Council and worth Euro 6 million, aims to develop more sustainable detergents, textiles, and cosmetics with the help of enzymes, reducing the usage of harmful chemical agents and replacing them with microbial enzymes to manufacture commercial products.
The increasing adoption of high-performance enzymes in the food and beverage industry is another key factor expected to drive market revenue growth over the forecast period. The rising demand for healthy and affordable food products has led to the development of industrial enzymes that can boost productivity and provide consistency in quality, while improving sustainability.
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