The Global Market for Industrial Enzymes is Projected to Exceed US$7.6 Billion by 2022

Growing Need to Replace Harsh Chemical Processes with Eco-Friendly Enzymatic Processes Drives the Industrial Enzymes Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Industrial Enzymes market. The global market for Industrial Enzymes is projected to exceed US$7.6 billion by 2022, driven by the growing prominence of sustainable production practices and stringent environmental clampdown on conventional chemicals and processes.

Industrial enzymes are used in a comprehensive spectrum of industrial processes owing to their ability to expedite chemical reactions while remaining efficient, selective and eco-friendly in most applications. In addition to their use in dynamic and emerging industries such as food processing, bio-fuels and pharmaceuticals, enzymes play a crucial role in driving product innovation in various markets including household care, pulp & paper processing, and textiles. Latest developments in the field of enzyme technology coupled with the availability of innovative enzyme blends as well as genetically-modified enzymes are anticipated to encourage industrial manufacturers to optimize processing capabilities and yield to achieve desirable results. Various benefits of enzymatic processes that are driving steady market growth include lesser use of strong acids and bases, lesser energy consumption leading to lesser greenhouse gas; reduced corrosive waste; safe working environment; lesser wastage due to optimum use of raw materials; and cost savings, among others.

Future growth in the market will be driven by increasing diversity in niche products and enzyme applications coupled with robust demand from various end-use segments across emerging economies, and enforcement of tough environmental regulations to limit use of harmful chemicals. Superior attributes of enzymes over chemicals in terms of their ability to catalyze reactions with improved catalytic efficiency and specificity; environmentally benign; non-hazardous and non-toxic; and resource optimization and cost reduction in production processes, among others, usher in numerous environmental benefits such as reduced raw material and energy consumption, lower wastage, and fewer environmental pollutants in the waste stream. Other important growth drivers include surging demand for bio-fuel enzymes owing to the use of enzymes in sustainable production of bio-fuels using biomass feedstock; and development trends in protein engineering that are sustaining demand in the largest application area of food and beverage. Overall use of enzymes is anticipated to also increase due to ongoing R&D activities, introduction of multi-functional industrial enzymes, and the pressing need for resource optimization and cost reduction in production processes. Increasing applications of carbohydrases as processing aid and ingredient and proteases in the food and detergent industries, in diverse bioremediation processes and leather treatment; multiple industrial and health benefits of lipases; and strong demand for feed enzymes in the animal feed sector are other factors poised to benefit market expansion in the coming years.

As stated by the new market research report on Industrial Enzymes, the United States, with its strong industrial base, represents the largest market worldwide, followed by Europe. Asia-Pacific represents the fastest growing market with a CAGR of 8.2% over the analysis period. Key factors driving growth in the region include strong industrial and economic growth; relocation of production bases from western countries to low-cost Asian countries; increasing demand for higher value and quality goods, especially food, cleaning products and feed; and growing westernization that is aiding demand for dairy products, meat and baked goods, which are increasingly being produced using enzymes.

Key players covered in the report include AB Enzymes GmbH, Advanced Enzyme Technologies Ltd., Amano Enzyme Inc., Asahi Kasei Pharma Corporation, BASF SE, Aumgene Biosciences, BioResource International Inc., Chr. Hansen A/S, Codexis Inc., DuPont Nutrition and Health, Direvo Biotech AG, Enzymatic Deinking Technologies LLC, Enzyme Innovation, Hayashibara Company, Novozymes A/S, Royal DSM, and Thermo Fisher Scientific, Inc., among others.

The research report titled “Industrial Enzymes: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of current market trends, key growth drivers, mergers, acquisitions, and other strategic industry activities of major companies. The report provides market estimates and projections in dollars for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). Product segments analyzed in the report include Carbohydrases, Proteases, Lipases, and Others. End-use applications analyzed in the report include Food & Beverage; Detergents & Other Cleaning Products; Textiles; Animal Feed; Ethanol Production; and Others.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.