According to Fortune Business Insights, the global industrial enzymes market size is projected to gain striking growth in the coming years. The rising awareness of environmental pollution due to non-biodegradable chemicals is predicted to boost the demand for industrial enzymes and propel the market’s growth. Fortune Business InsightsTMhas presented this information in its upcoming report titled, “Industrial Enzymes Market, 2022-2029”.
The rising adoption of strict measures to minimize pollution and associated health problems is likely to fuel industrial enzymes’ adoption and therefore flourish in growth for the market during the forecast period.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/industrial-enzymes-market-106036
Segmentation-
On the basis of type, the market is segmented into lipases, proteases, carbohydrases, and others. On the basis of form, the market is bifurcated into liquid and dry. On the basis of application, the market is fragmented into feed, detergents, bioethanol, food & beverages, and others. Geographically, the market is classified into South America, Asia Pacific, Europe, North America, and the Middle East & Africa.
Report Coverage-
- It incorporates Porters’ Five Forces Analysis for precise market prediction.
- It addresses the latest developments witnessed in the market.
- It highlights the various restraints and drivers of the market’s growth.
- It covers information on different market segments.
- It includes an assessment of the COVID-19 pandemic’s impact on the market.
Drivers & Restraints-
Rising Awareness for Environmental Pollution Due to Non-biodegradable Chemicals to Fuel Market Growth
Nations across the globe are embracing strict measures to minimize pollution caused by non-biodegradable chemicals. The rising adoption of biodegradable products and the growing emphasis on improving product quality by industries are anticipated to fuel the global industrial enzymes market growth. Additionally, the rising focus on improving product efficiency and sustainability is predicted to complement the market’s growth. The increasing use of biocatalysts in commercial processing across industries such as dairy, detergent, food and beverage, and pharmaceuticals is estimated to flourish in growth for the market.
However, the requirements of a highly controlled environment to carry out the reaction may hinder the market growth during the forecast period.
Regional Insights-
Rising Demand from Various Industries to Fuel Growth in North America
North America is estimated to emerge dominant in the global industrial enzymes market share. According to the Annual Competitive Industrial Performance Index by the United Nations Industrial Development Organization (UNIDO), the U.S. is considered to be one the largest manufacturing nations globally. The rising technological advancements fuel industrial enzymes’ demand for application in production processes across several industries, including personal care products, cosmetics, food and beverages, and the animal feed industry.
Asia Pacific is anticipated to gain swift growth due to rising industrial development across countries such as Japan and China. Moreover, the development of new enzymes by leading companies to cater to the growing market requirements is expected to fuel growth in Asia Pacific.
Competitive Landscape-
Major Players Embrace Product Innovations, Partnerships to Acquire Growth
The major players operating in the market emphasize technological developments and product innovations to introduce environment-friendly product offerings that cater to the growing market requirements. They focus on new product launches and extensive research and development activities and adopt strategies such as mergers, acquisitions, partnerships, and others to amplify their global presence and revenues. For instance, Univar Solutions Inc. and Novozymes partnered in 2021 to expand their operations in beverage production markets across Canada and the U.S.
List of Key Market Players-
- DSM
- Novozymes
- Kerry Group
- DuPont
- BASF
- Tex Biosciences
- Denykem
- MetGen
- Sunson Industry Group
- Enzymatic Deinking Technologies
- Enzyme Solutions
- Creative Enzymes
- Enzyme Supplies
- Biocatalysts
- Aumgene Biosciences
- Megazyme
- Amano Enzymes
- Hansen
- Advanced Enzymes
- Dyadic International
- Kerry Group
