According to SPER Market Research, the Industrial Enzymes Market estimated to reach USD 12.3 billion by 2030 with a CAGR of 7.2%.
The advancement in Enzyme engineering, Green Chemistry, introduction of genetically engineered enzyme is the driving factor for the growth of the Industrial Enzymes Market.
The importance of eating healthy and nutritious food with a balanced intake of enzymes and other energy sources boosted up due to the outbreak of COVID-19 pandemic. Therefore, increase in demand for fortified foods & beverages infused with nutritional enzymes and other healthy ingredients are witnessing.
The demand for dairy products, bakery & confectionery products, and juices is anticipated to increase with the rise in health concerns and awareness about enzyme-infused products.
To achieve the sustainable development growth there is search for sustainable and renewable alternative sources, a non-renewable source, such as fossil fuels, has increased during the last few decades. The Enzymatic hydrolysis in bio ethanol production presents a fundamental step. Bio ethanol is prepared from agricultural waste containing corn stalks, leaves, bagasse of sugarcane, sugar beet, sorghum stalks, wheat, barley, rye. Ethanol produced from biomass can be used as a substitute, extender, or octane booster as an alternative for traditional motor fuels, such as gasoline, diesel, and kerosene.
Action of enzymes restricted to various external factors, stringent regulatory guidelines for manufacturers, High adaptation costs involved for SMEs. Enzymes are expensive to produce; the high cost of raw materials, used in enzyme manufacturing, highly temperature-sensitive, toxic with a change in pH, contamination of the enzyme with other chemical substances used in food & beverages can affect the chemical reaction, which would result in massive wastages. Therefore, these factors result in a rise in costs, enzymes as raw material, thereby creating a challenge for the market. These are the challenges for the growth of this market.
Demand for natural substitutes of synthetic chemicals, Innovations in technologies and a wide industry scope, Innovative technological platforms, Development of enzymes with a longer shelf-life (Encapsulation to enhance shelf-life). These are the opportunities in this Industrial enzyme market.
The largest market for industrial enzymes is dominated by the North American region. Because of their industrial applications, technological advancements the North American industrial enzymes market has made enzymes available for a wide range of applications.
The global Industrial Enzymes Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ABF, Advanced Enzyme Technologies, Amano Enzyme Inc., Aumgene Biosciences, BASF, Biocatalysts, CHR. Hansen, Creative Enzymes , Denykem , DSM , DuPont , Enzymatic Deinking Technologies, Enzyme Solutions , Enzyme Supplies ,Kerry, Megazyme , Metagen, Novozymes , Sunson Industry Group, Tex Biosciences.
SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2030. This report provides data for growth estimates and forecasts for the advancement in Enzyme engineering, Green Chemistry, introduction of genetically engineered enzyme, balanced intake of enzymes, use of enzyme in green house gas emission.
This study also encompasses various drivers and restraining factors for this market for the forecast period. Various growth opportunities are also discussed in the report.