Proteins that catalyze chemical processes are known as enzymes. As a result, enzymes are commonly utilized to aid product manufacturing and industrial processes, and these enzymes are referred to as industrial enzymes. Over the forecast period, from 2017 to 2025, rising demand for the product from end-use sectors such as food and beverage, animal feed, household cleaning, and biofuel is expected to drive expansion of the global industrial enzymes market expansion. The market is expected to be fueled by rising demand for proteases and carbohydrase in food and beverage industries, particularly in Asia Pacific's growing countries like Japan, India, and China. Furthermore, increased industrialization, as well as developments in the nutraceutical industry, can be ascribed to growth in industrialized countries. Such factors are likely to boost product demand significantly in the years to come.
The global industrial enzymes market is projected to expand due to rising demand for industrial enzymes from end use sectors like animal feed and nutraceutical industries. Furthermore, as consumer knowledge of health grows, so does the need for functional food items, which will boost product demand in the future years.
Enzyme Development Corporation, Chr. Hansen Holding A/S, Advanced Enzyme Technologies, Associated British Foods plc., Koninklijke DSM N.V., and AB Enzymes GmbH are some of the companies in the global Industrial Enzymes market.
Between 2017 and 2025, the global industrial enzymes market is expected to develop at a steady rate of 8.8% CAGR. Expanding at this rate, the market is anticipated to generate revenue of US$12.84 Bn through 2025.
Changing Lifestyle and Increasing Demand for Food to Drive Demand in North America Market
In terms of region, the global Industrial Enzymes market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. Regional classifications are expected to give a better understanding of the market forces at play at the regional scale.
Because of increased food consumption, substantial expenditures in the food and beverage sector, rising disposable income in North America is likely to drive demand in the regional industrial enzymes market. North America is estimated to emerge as one of the leading regions in the market. Due to changing lifestyles, rising food consumption, and population boom in developing nations like China and India is expected to drive the market in the Asia Pacific region. Asia Pacific is estimated to be one of the rapidly growing regions in the market. During the forecast period, emerging markets such as the Latin America and the Middle East and Africa are predicted to rise.
Increasing Use of Industrial Enzymes in the Food Processing Sector to Augur Well for the Market
Accounting for a large chunk of the market, the food processing sector is likely to dominate the global industrial enzymes market. This is one of the rapidly growing application types, owing to the world's ever-increasing population and its expanding spending power. People's increased desire for better food quality, safer production processes, and enhanced nutritional content is also due to increased health awareness.
The quest for higher-quality meals with more natural flavor and taste has become a popular trend amongst today's customers. As a result of this tendency, the creation of flavorful and delicious processed meals employing industrial enzyme applications became necessary. These enzymes function as catalysts by assisting in the breakdown of vitamins and nutrients in metabolic processes as well as the inter-conversion of complex compounds to simpler ones.
Food enzymes such as chymosin, polygalacturonanace, arabinanase, glucosyltransferase, amylase, lipase, protease, pectinase, xylanase, pectinase, cellulase, and beta-glucanase, amongst many others, have become indispensable in the global food additives business. Consumers are expected to benefit from the food industry's continual development of new drinks, dairy products, and various food items. The use of enzymes in the food and beverage industry has steadily risen with the introduction of new products in the sector. Industrial enzymes have found significant application in fat modification and sweetener technology as a result of augmented research and development activities in the food sector. This factor is likely to work in favor of the global industrial enzymes market.
The information shared in this review is based on a TMR report, bearing the title, “Industrial Enzymes Market (Type - Carbohydrases, Proteases, Polymerases and Nucleases, Lipase, and Phytase; Application - Food and Beverages, Personal and Household Care, Animal Feeds, and Bio-energy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025”
The global industrial enzymes market is segmented based on:
- Polymerases and Nucleases
- Food and Beverages
- Personal and Household Care
- Animal Feeds
- North America
- Rest of Europe
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
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