June 16, 2024
Industrial Enzymes Market

The Global Industrial Enzymes Market Size Is Estimated To Driven By Their Ability To Help Conserve Limited Natural Resources

Industrial enzymes play a key role in wastewater treatment, food processing, and agriculture and are estimated to witness high growth owing to their ability to save resources and improve sustainability. Industrial enzymes serve as eco-friendly biocatalysts that aid in increasing process efficiency and reducing energy consumption across industries. They are specialized biocatalysts produced through fermentation processes and perform important functions such as accelerating chemical reactions, reducing waste, and improving yields.

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

Key Takeaways

Key players: 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.
Key opportunities: The rising need for sustainable production processes across industries is fueling the demand for Industrial Enzyme Market. Their use helps improve yields, reduce costs, and optimize resource utilization. This growing need for sustainable solutions represents a major growth opportunity for industrial enzyme manufacturers.
Global expansion: Leading players in the industrial enzymes market are investing heavily in research & development and focusing on expanding their global footprint. Asia Pacific is emerging as a high growth market with increasing collaborations between international players and local manufacturers in the region. Additionally, enzymes produced through fermentation processes offer cost advantages.
Market drivers: One of the major drivers for the industrial enzymes market is their ability to help conserve limited natural resources and improve sustainability. Industrial applications of enzymes help reduce energy, water consumption and enhance production volumes with lower environmental impact. Their eco-friendly nature and process optimization capabilities are expected to further support market growth over the forecast period.

PEST Analysis

Political: The industrial enzymes market is governed by various regulations regarding food safety and environmental protection set by regulatory bodies like EPA and FDA. Stringent regulations ensure product quality and safety.
Economic: Rising disposable incomes and growing demand for processed food and beverages are driving the industrial enzymes market. Factors like changes in lifestyles and consumer preference for natural and organic products are fueling market growth.
Social: Growing awareness about health and wellness has increased demand for clean-label and naturally sourced food ingredients. Consumers prefer products containing natural ingredients over chemical ones which is promoting industrial enzymes adoption.
Technological: Advancements in enzyme engineering allow development of novel enzyme formulations with high activity and stability. Application of modern tools like protein engineering, directed evolution etc help manufacturers customize products according to industry needs.

Geographical areas where the market in terms of value is concentrated include North America and Europe. These regions have stringent regulations and presence of well-established players. Changing consumer habits and demand for sustainable and natural ingredients also contribute to market concentration in developed nations.
The Asia Pacific region represents the fastest growing geographical market for industrial enzymes. Rapid industrialization, improving economic conditions and growth of end-use industries like food processing are driving market growth. Rising health consciousness, burgeoning middle class and shift to western diet in developing countries of Asia Pacific are fueling demand for processed foods and boosting regional market.

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