Global Industrial Enzymes Market (2020 to 2027) – Featuring BASF, Novozymes, and DSM, among others – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD) – The “Industrial Enzymes Market, Global Forecast, Impact of COVID-19, Industry Trends, Growth, Opportunities by Types and Business Analysis” report has been added to ResearchAndMarkets.com offer.
According to the publisher, the global enzyme market is expected to reach $ 17.4 billion by 2027.
Advanced enzyme technologies
Kerry PLC Group
Enzymes are biological catalysts; they accelerate a chemical reaction. Globally, enzymes are used in industries such as biofuels, cleaning products / detergents, food, animal feed, textiles and specialties. In addition, the market for industrial enzymes is constantly growing, due to the growing need for sustainable solutions. Advances in biotechnology, especially protein engineering, have also brought new probiotic products, taking the industrial enzymes market to the next level.
Carbohydrases, amylases, cellulases, proteases and lipases are major variants existing in the global enzyme market. By types, these enzymes are used in many industries. For example, the food industry mainly uses carbohydrases in baking for the manufacture of fruit juices, wine making and cheese making. Likewise, other applications of carbohydrases are detergents, textiles and leather and bioethanol. Carbohydrases also have additional advantages for various industrial applications due to their low cost, reduced time and space consumption, and ease of process modification and optimization. The industrial enzymes market size was estimated at US $ 10.6 billion in 2020.
In addition, protease enzymes are widely used in specialized industries. The specialized industry uses protease enzymes in large quantities in the manufacture of drugs. Protease enzymes treat multiple diseases such as lungs, heart, eye abnormalities, digestive tract, skin ulcers, and pain. Thus, the specialty industry is expected to fuel the demand for protease enzymes in the foreseeable future. In addition, with the help of the development of science and technology, protease enzymes are used in several biomeditation processes and leather treatments.
In addition, the industrial enzymes market in North America is influenced by the increasing demand for enzymes from the food industry and has a large consumer base in countries in the region. Nevertheless, the market in Asia-Pacific is due to strong growth opportunities induced by the surge in demand for carbohydrase and proteases in pharmaceutical and food industry applications, especially in emerging countries such as China, ‘India and Japan. These countries have started to invest in the biotechnology sector to introduce more effective global enzyme products.
In addition, increased investment in the food and pharmaceutical industry is expected to boost the overall industrial enzymes market. With the improvement in disposable income, the customer can now afford expensive food products, which is expected to further increase the demand for industrial enzyme products. According to our analysis, the industrial enzymes industry is likely to grow at a CAGR of 7.34% from 2020 to 2027.
Impact of COVID-19 on the Global Enzyme Market
The spread of COVID-19 across the world has had a positive impact on all industries. The increasing adoption of enzymes in multiple industries such as cleaning products, food, animal feed and specialty products must propel market growth during the COVID-19 pandemic as consumers around the world are become more alert and aware of their health and lifestyle.
However, the growth of the biofuels and textile enzymes market has been hampered by the COVID-19 pandemic. Closures, social distancing and the closure of production plants around the world have impacted the auto industry, which in turn has negatively influenced the biofuels industry.
Likewise, the market for textile enzymes is no different; the operations of many textile industries had either been temporarily halted or operated with minimal manpower due to forced shutdowns and restrictions imposed by the respective governing bodies. This factor is having a significantly negative impact on the revenue growth of the Textile Enzymes Market.
Main topics covered:
2. Research and methodology
4. Market dynamics
4.1 Growth drivers
5. Global Industrial Enzyme Market
6. Market Share – Global Industrial Enzymes Market
6.1 By types
6.2 By applications
6.3 By source
6.4 By regions
7. Types – Global Industrial Enzymes Market
8. Source – Global Industrial Enzymes Market
9. Application – Global Industrial Enzymes Market
10. Regions – Global Industrial Enzymes Market
11. Business analysis
For more information on this report, visit https://www.researchandmarkets.com/r/41k8bt