Global Industrial Enzymes Market: Snapshot
Enzymes are defined as natural protein molecules produced by all living organisms, which acts as catalysts for accelerating the pace of chemical reactions, that is, they help a chemical reaction take place quickly and efficiently, without undergoing change themselves and upon processing and manufacturing for industrial uses, these are known as Industrial Enzymes. These are responsible for many essential biochemical reactions and metabolic processes in microorganisms, plants, animals, and human beings, but are not alive. Enzymes aids in increasing the reaction rate of biochemical processes that otherwise proceed very slowly, or in some cases, not at all, and are also biodegradable. Moreover, Industrial enzymes are environmental friendly which provides with the opportunities in the form of substituting non-renewable chemicals with the intent of reducing energy consumption or decreasing the production of harmful wastes.
The market for industrial enzymes is primarily driven by the increasing demand for food and beverages owing to changing lifestyles and increase in disposable income of a wide population. Government across the world are encouraging the usage of biofuels by giving the incentives for biofuel production as a substitution to fossil fuels and conventional source of energy which is stimulating the industrial enzymes market. Advancements in biotechnology especially in the field of protein engineering is driving the growth of industrial enzymes market. Rising investments in food and beverages and pharmaceuticals industry are estimated to be the growth opportunities for Industrial enzymes market.
Carbohydrases and Proteases Witness Highest Demand Among Type-based Segments
The industrial enzymes market can be primarily segmented into three categories: type, application and source apart from region. In terms of type, the industrial enzymes market can be classified into carbohydrases, proteases, polymerases & nucleases, lipases, phytases, and others. The majority of the market is covered by carbohydrases and proteases. This is basically because of their use in food and beverages and animal feed industries, respectively. Carbohydrases have dominant share in the market owing to its application in end use industries like food and beverages.
In terms of the application, the global industrial enzymes market can be classified into food & beverages, personal & household care, animal feed, bioenergy and others. Food and beverages, occupies the largest share of the global market, on account of increasing disposable income of the people and rising demands for food. Environmental benefits associated with the biofuels and government incentives for its use will fuel the growth of the bioenergy segment.
Rising Disposable Income of Consumer Puts North America at Market’s fore
In terms of region, the global industrial enzymes market has been classified into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America holds the maximum share in the industrial enzymes market, owing to increasing demand for food and rising disposable income of people, and huge investments in food and beverages industry. Asia Pacific market is estimated to be the fastest growing market due to the population explosion and riding demands for food and changing lifestyles of the developing economies like China and India. While Middle East & Africa and the Latin American regions are emerging markets are expected to grow during the forecast period.
Key players in the global Industrial Enzymes market are expected to benefit from the emerging market. Prominent players in the global Industrial Enzymes market are Chr. Hansen, Novozymes A/S, Codexis Inc., Novus International Inc., Associated British Foods (ABF) plc. AB Enzymes GmbH, E.I.du Pont de Nemours and Company, Advanced Enzyme Technologies Ltd., Koninklijke DSM N.V. among others.
Global Industrial Enzymes Market: Overview
Industrial enzymes are enzymes that are commercially used in a variety of industries such as pharmaceuticals, chemical production, biofuels, food & beverage, and consumer products.
The carbohydrases, proteases, polymerases & nucleases, Lipase, phytase are the types of enzymes used in manufacturing of industrial enzymes. The carbohydrases is expected to drive the industrial enzymes market during the forecast period. Carbohydrases and proteases are widely used various applications such as food & beverages, household and cleaning products. The demand for phytase is high due to its use in animal feeds. Enzymes like phospholipase and lipase are commonly used for biofuel production. With the increasing demand for biofuel, the demand for industrial enzymes like lipase and phospholipase also increase simultaneously. The increase in the life styles of the people and high income are the reasons for driving the industrial enzymes market.
Global Industrial Enzymes Market: Key Segments Market
The global industrial enzymes market can be classified according to the applications such as food & beverages, household & personal care, animal feeds, bio-energy and others. The food and beverages segment is expected to drive the industrial enzymes market during the forecast period. The food and beverages segment have the largest share in 2016 followed by the personal & household care. But bio-energy is anticipated to be the fastest growing among all due to the unconditional support from the government for the environment friendly products. The market of industrial enzymes for animal feed will remains stagnant due to the slow growth.
Global Industrial Enzymes Market: Regional Outlook
North America held the largest share of the global Industrial enzymes market in 2016 in terms of consumption. Growth of the region is primarily ascribed to the increase in the demand from consumer base and food industries in the region. Europe also held a large share of the global industrial enzymes market in terms of production of industrial enzymes in 2016 and is expected to further grow during the forecast period. Asia Pacific is expected to be the fastest growing due increasing population, expanding food & beverage industry, positive economic outlook, expanding middle class population, government initiatives supporting investment in biotechnology. The global market share of North America, Europe and Asia Pacific is expected to increase at a high CAGR during the forecast period, while the global market share of Latin America and Middle East and Africa is expected to increase at a slow pace during the forecast period.
This report analyzes and forecasts the market for industrial enzymes at the global and regional level. The market has been forecast based on volume (Tons) and revenue (US$ Mn) from 2017 to 2025, considering 2016 as the base year. The study includes drivers and restraints of the global industrial enzymes market. It also covers impact of these drivers and restraints on demand for industrial enzymes market during the forecast period. The report also highlights opportunities in the industrial enzymes market at the global and regional level.
Global Industrial Enzymes Market: Scope of the Study
The report includes detailed value chain analysis, which provides a comprehensive view of the global industrial enzymes market. Porter’s Five Forces model for the industrial enzymes market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global industrial enzymes market by segmenting it in terms of type such as carbohydrases, proteases, polymerases & nucleases, lipase, phytase and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual market size of industrial enzymes for 2016 and estimated market size for 2017 with forecast for the next eight years. The global market size of industrial enzymes has been provided in terms of volume and revenue. Market volume has been defined in tons, while market revenue is in US$ Mn. Market numbers have been estimated based on type and applications of industrial enzymes. Market size and forecast for numerous end-users have been provided in terms of global, regional, and country level markets.
Global Industrial Enzymes Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, CSA Global, FAO, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, one SOURCE, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Companies Mentioned in Report
The report comprises profiles of major companies operating in the global industrial enzymes market. Key players operating in the global industrial enzymes market include, Chr. Hansen, Novozymes A/S, Novus International Inc, E.I. du Pont de Nemours and Company, Advanced Enzyme Technologies Ltd, Zytex (India) Pvt Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global industrial enzymes market has been segmented as follows:
Industrial Enzymes Market: Type Analysis
- Polymerases & Nucleases
Industrial Enzymes Market: Application Analysis
- Foods & Beverages
- Personal & household care
- Animal feeds
Industrial Enzymes Market: Regional Analysis
- North America
- Rest Of Europe
- Asia Pacific
- Rest Of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA