The global industrial enzymes market is expected to reach USD 9.63 billion by 2024, according to a new report by Grand View Research, Inc. The market is expected to witness significant growth owing to increasing substitution of chemicals with industrial enzymes particularly in food & beverage and nutraceutical applications.
Growing applications of industrial enzymes for use in detergents and as ingredients in food processing industry is expected to fuel the demand. Proteases are extensively used in the detergent industry owing to its superior stain removal properties. However, the demand in the detergent application is expected to witness sluggish growth owing to market saturation.
Growing use of protease in bakery products is expected to drive market growth. Furthermore, increasing application scope of the product in nutraceutical industry as a digestive enzyme is expected to drive demand.
Technological advancements in the field of industrial enzymes have led to the use of the product as cleaning agents. The increasing use of enzymes or waste water treatment is also expected to drive the demand over the forecast period.
Neozymes, DSM, and Danisco dominated the global industrial enzymes market in 2015 with the industry being characterized by forward integration by manufacturers to distribution and end-use. Manufacturers such as DuPont and DSM manufacture industrial enzymes for specialized applications. The global industrial enzymes market is dominated by North America due to the presence of a large number of manufacturers in the U.S. and Canada.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/industrial-enzymes-market
Further key findings from the report suggest:
·
Industrial enzymes demand for lipases is
expected to witness substantial growth, growing at over 8.0% from 2016 to 2024.
Increasing demand for the product in food & beverage and textile industry
is expected to augment growth over the forecast period.
·
The feed additive enzymes are expected to be the
fastest growing product segment, growing at over CAGR 9.0% from 2016 to 2024.
The increasing use of enzymes as a protein source in animal feed is to improve
performance in livestock which in turn is anticipated to drive demand over the
projected period.
·
Asia Pacific is expected to witness substantial
growth, growing at a CAGR of over 10.0% from 2016 to 2024. Robust expansion in
food processing industries particularly in Asia Pacific is expected to augment
growth. Furthermore, the supportive regulations promoting the expansion of
manufacturing industries is expected to have a positive impact on market
growth.
·
Europe accounted for over 29.0% of the market
share in 2015 and is expected to witness significant growth owing to rising
demand in pharmaceutical and textile industry. Stringent regulations
prohibiting the use of toxic chemicals and catalysts in various applications is
expected to positively impact market over the next eight years.
·
Key players in the industry include BASF SE,
Koninklijke DSM N.V, Novozymes A/S., Associated British Foods PLC E. I. Du Pont
De Nemours and Company Adisseo France SaS, Dyadic International Incorporated
CHR, Codexis Incorporated. Hansen Holding A/S, and Amano Enzyme Incorporated.
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this category @ http://www.grandviewresearch.com/industry/catalysts-and-enzymes
Grand View Research has segmented the industrial enzymes market on the basis of product, application, end-use and region:
Industrial Enzymes Market Product Outlook (Revenue, USD Million, 2013 - 2024)
·
Carbohydrase
·
Proteases
·
Lipases
·
Polymerases & nucleases
·
Others
Industrial Enzymes Market Application Outlook (Revenue, USD Million,
2013 - 2024)
·
Technical
·
Feed additive
·
Food processing
Industrial Enzymes Market End-use Outlook (Revenue, USD Million,
2013 - 2024)
·
Food & beverage
·
Detergents
·
Animal feed
·
Textile
·
Paper & pulp
·
Nutraceutical
·
Personal care & cosmetics
·
Wastewater
Industrial Enzymes Market Regional Outlook (Revenue, USD Million,
2013 - 2024)
·
North America
·
U.S.
·
Canada
·
Mexico
·
Europe
·
Germany
·
UK
·
France
·
Asia Pacific
·
China
·
India
·
Japan
·
Latin America
·
Brazil
·
Middle East & Africa
·
South Africa
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