May 12, 2020
According to the research report titled ‘Industrial Enzymes Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024’, available with Market Study Report LLC, global industrial enzymes market is expected to register a momentous growth rate during 2017-2024.
Rising adoption of industrial enzymes in food processing, pharmaceuticals and biofuels sector is a major factor driving the market growth. Industrial enzymes improve the manufacturing processes in cosmetic, food processing and personal care industries in an environment friendly way. The product not only enhances the quality but also makes manufacturing processes effective. Industrial enzymes help in breaking down several constituents such as cellulose, starch and proteins to quicken the food & paper processing.
However, strict environment regulations and rising concerns regarding the quality & safety of enzymes as well as volatility of manufacturing processes may act as restraining factors to the overall market expansion.
As per type, proteases segment is poised to amass modest returns in the forthcoming years. The product assists in digesting protein components. Meanwhile, carbohydrase segment is anticipated to record a significant growth rate through 2024, primarily due to its widespread use in industrial and food applications. This product helps in breaking down carbohydrates and simple sugars present in the human body as well as in processed food items.
Worldwide industrial enzymes market share from food & beverage sectors is predicted to expand substantially during the study period. The product is extensively used while manufacturing bread, alcohol and cheese. Shifting consumer preference for convenience food has impelled the demand for industrial enzymes. The product can be used as eco-friendly substitute for packaging material sourced from non-renewable resources. Favorable government regulations which promote the use of industrial enzymes along with rising R&D activities are further favoring the market scenario.
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Considering the regional spectrum, Asia-Pacific industrial enzymes industry is reckoned to record a momentous growth rate over 2017-2024. Rapid expansion of healthcare, chemical, food & beverage and other sectors owing to growing population, rising per capita income and socio-economic factors are augmenting the regional market outlook.
The prominent companies in industrial enzymes market are Advanced Enzymes, Cargill Inc., Maps Enzymes Ltd., Associated British Foods, BASF SE, Amano Enzyme Inc., Codexis Inc., Dyadic International Inc., Novozymes, DSM and DuPont among others.