June 13, 2024
Industrial Enzymes Market

Industrial Enzymes Market is Estimated to Witness High Growth Owing to Growing Demand from Food and Beverage Industry

Industrial enzymes are bio-catalysts that increase the rate of chemical reactions in industrial applications without being consumed in the process. They are extensively used in food processing, animal feed, pharmaceuticals, textiles, detergents, and biofuels production. In the food and beverage industry, enzymes help improve texture, flavor, consistency, and shelf life of products. They aid in the production of baked goods, alcoholic beverages, grains and oilseeds processing, dairy products, and fruit and vegetable processing. The growing demand for processed and packaged food worldwide due to changing lifestyle and dietary patterns has been fueling the consumption of industrial enzymes.

The Global industrial enzymes market is estimated to be valued at US$ 7.53 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Industrial Enzymes Market are Advanced Enzyme Technologies, Lesaffre, Adisseo, Enzyme Development Corporation, BASF SE, Novozyme, DuPont Danisco, DSM, Novus International, Associated British Foods plc., and Chr. Hansen Holding A/S. These players are focusing on new product launches and partnerships to strengthen their market position.

The key opportunities in the industrial enzymes market include development of cost-effective and environment-friendly production processes. Growing demand for low-calorie and low-fat food has opened opportunities for novel enzymes that help address these demands from health-conscious consumers.

Globally, the industrial enzymes market is expanding rapidly in the Asia Pacific region due to growth of end-use industries such as food processing, bioethanol and detergents in countries like China, India, Indonesia and Thailand. North America and Europe are also major regional markets however the demand growth is expected to be higher in developing Asian countries.

Market Drivers

One of the key drivers of the industrial enzymes market is the growing demand from food and beverage industry. The demand for packaged and processed food has been consistently rising globally due to changes in lifestyle, food habits and increasing population. Industrial enzymes help improve production efficiency and yield in the food manufacturing process. They assist in improving texture, shelf-life and ease of manufacturing of various food products. This growing demand from a major end-use industry is expected to propel the industrial enzymes market during the forecast period.

PEST Analysis

Political: The industrial enzymes market is regulated by various government policies and regulations related to environment protection, waste management, and eco-friendly production techniques. Key policy areas include emission standards and industrial pollution control.
Economic: Rising industrial production and GDP growth across emerging economies have fueled the demand for industrial enzymes from various end-use industries like food & beverages, detergents, and biofuels. Additionally, cost savings achieved through enzyme usage also contribute to market growth.
Social: Growing awareness about benefits of enzymes in manufacturing processes among industrialists regarding sustainability and eco-friendliness is a key driver. Changing consumer preferences for ‘eco-friendly’ produced goods also augment the market.
Technological: Continuous advancements in biotechnology for developing novel enzyme formulations, along with innovations in extraction and production techniques, further expand application scope and drive the adoption of industrial enzymes.

The industrial enzymes market in the Asia Pacific region currently accounts for the largest value share globally. China, India, Japan, and other developing Asian countries have emerged as major producers and consumers of industrial enzymes due to their huge and growing industrial bases. Within Asia Pacific, China represents the largest country market owing to its massive food processing, detergent, and textile industries.

In terms of growth, the industrial enzymes market in South America, mainly Brazil and Argentina, is poised to expand at an above-average pace through 2031. This can be attributed to rapid industrialization, expanding agro-food processing capacities, and favorable governmental support towards a sustainable bio-based economy in the region. Developing end-use industries would augment the regional demand for industrial enzymes during the forecast period.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research.
2. We have leveraged AI tools to mine information and compile it.