Industrial Enzymes market is projected to grow at a CAGR of 6.8% by 2033: Visiongain

As per the report by Visiongain, the global industrial enzymes market was valued at US$6.42 billion in 2022 and is projected to grow at a CAGR of 6.8% during the forecast period 2023-2033.

Visiongain has published a new report entitled Industrial Enzymes 2023-2033. It includes profiles of Industrial Enzymes and Forecasts Industrial Enzymes Market, (COVID-19 Impact Analysis):- Market Segment by Formulation (Lyophilized, Liquid, Dry) Market Segment by Source (Microorganism, Plant, Animal, Other Sources) Market Segment by Type (Carbohydrase, Proteases, Lipases, Polymerases & Nucleases, Other Types) Market Segment by Application (Food & Beverages, Cleaning Products, Animal Feed, Biofuel, Paper & Pulp, Other Application) plus COVID-19 Impact Analysis and Recovery Pattern Analysis ("V"-shaped, "W"-shaped, "U"-shaped, "L"-shaped), Profiles of Leading Companies, Region and Country.

The Textile Industry Is a Significant User of Industrial Enzymes

The textile industry is a significant user of industrial enzymes for various applications. Enzymes like cellulase and pectinase are used in textile processing to achieve desired fabric finishes, such as softening, bio-polishing, and desizing. They offer advantages over traditional chemical processes by reducing water and energy consumption and minimizing the release of hazardous chemicals. With the growing textile industry, especially in emerging economies, the demand for industrial enzymes in textile processing is expected to increase. Moreover, the focus on sustainable and eco-friendly textile production further drives the adoption of enzymatic processes.

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How has COVID-19 had a significant negative impact on the Industrial Enzymes Market?

The COVID-19 pandemic has had a minimal effect on the enzyme market. The sustained growth of this market is primarily driven by the increasing demand in various sectors such as bio-detergent, biofuels, pulp and paper manufacturing, rubber manufacturing, and molecular biology. However, due to the pandemic, many enzyme manufacturers have shifted their focus to producing sanitizers to combat COVID-19.

Nevertheless, according to Amway's publication, they plan to increase the production and supply of immunity-building products in response to the pandemic. These factors could drive the demand for enzymes in the global market during the forecast period. Companies like AB enzymes have adopted strategic decisions aligned with the guidelines of the World Health Organization (WHO) and local governments to ensure the health and safety of their employees while continuing to provide solutions to customers. By implementing such strategies, enzyme ventures worldwide are preparing for the post-pandemic impact. In this challenging situation, we are assisting our clients in understanding the impact of COVID-19 on the global enzyme market.

How will this Report Benefit you?

Visiongain's 312-page report provides 131 tables and 191 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global industrial enzymes market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Industrial Enzymes. Get financial analysis of the overall market and different segments including type, source, formulation, and application and capture higher market share. We believe that there are strong opportunities in this fast-growing industrial enzymes market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Growing Demand for Sustainable and Eco-Friendly Products

The growing demand for sustainable and eco-friendly products across various industries is one of the major drivers of the industrial enzymes market. The use of enzymes in industrial processes is gaining popularity as enzymes offer a more sustainable and eco-friendlier alternative to traditional chemical processes. Enzymes are biodegradable, non-toxic, and produce fewer harmful by-products than traditional chemical catalysts, making them a more environmentally friendly option. This growing demand for sustainable and eco-friendly products is driving the adoption of industrial enzymes in various industries, such as the food and beverage, animal feed, textile, and biofuel industries.

Studies indicate that around 73% of global consumers prefer to purchase products that are environmentally friendly and sustainable. This trend is driven by increasing awareness of environmental issues and a desire to support ethical and responsible business practices. For instance on March 3, 2022, DSM N.V. announced a new partnership with a leading renewable energy company to develop a novel enzyme-based technology for the production of bioplastics from plant-based materials.

Technological Advancements and Innovations in Enzyme Engineering and Biotechnology

The industrial enzymes market is witnessing significant technological advancements and innovations in enzyme engineering and biotechnology. Enzyme engineering involves modifying existing enzymes or creating new ones with improved properties such as stability, specificity, and efficiency. Biotechnology has led to the development of new enzyme production methods, such as recombinant DNA technology, which involves using genetic engineering techniques to create enzymes that are more efficient and cost-effective. These technological advancements and innovations are creating new opportunities for the development of more efficient and effective enzyme products for various industries. For instance, enzyme engineering has led to the development of enzymes that can function at higher temperatures and pH levels, making them more suitable for industrial processes. Similarly, biotechnology has led to the development of enzymes that can produce biofuels more efficiently, thereby reducing the cost of production and making biofuels more economically viable. For instance, on January 12, 2023, DSM N.V. announced a breakthrough in the engineering of enzymes for use in the production of biofuels, which could significantly improve the efficiency and reduce the cost of these processes.

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Where are the Market Opportunities?

The Rise of Precision Medicine and Personalized Healthcare

Precision medicine and personalized healthcare are emerging trends in the healthcare industry that are driven by advances in genomics, proteomics, and other molecular technologies. These trends are creating new opportunities for the use of industrial enzymes in drug development, diagnostics, and other medical applications. Enzymes can be used to improve the efficacy, specificity, and safety of drugs, as well as to develop new diagnostic tests that can detect diseases at an early stage. The demand for enzyme-based solutions in these applications is driven by the increasing prevalence of chronic diseases, the need for more personalized and targeted therapies, and the growing focus on patient-centred care.

The market opportunity in precision medicine and personalized healthcare for enzyme-based solutions lies in the development of new and innovative products that can meet the specific needs of these applications. This includes enzymes that can improve the specificity and selectivity of drugs, enzymes that can enhance the stability and bioavailability of drugs, and enzymes that can facilitate the development of new diagnostic tests. Companies that can develop and market such products are likely to gain a competitive advantage in the market and capture a larger share of the growing demand for enzyme-based solutions in precision medicine and personalized healthcare. The field of personalized healthcare, which encompasses precision medicine, has attracted substantial investments.

Advancements in Enzyme Production Technologies

The development of advanced enzyme production technologies has contributed to the growth of the industrial enzymes market and creating new opportunities for key players. Techniques like recombinant DNA technology, fermentation optimization, and high-throughput screening have improved the efficiency and scalability of enzyme production. These advancements have resulted in increased enzyme yields, reduced production costs, and improved enzyme purity. Industrial enzyme manufacturers can now produce enzymes in large quantities to meet the growing demand. The availability of cost-effective and high-quality enzymes has facilitated their wider adoption in industrial processes across different sectors.

Competitive Landscape

The major players operating in the industrial enzymes market are Advanced Enzyme Technologies Limited, Amano Enzyme Inc., Associated British Foods plc, Aumgene Biosciences Pvt Ltd, BASF SE, Chr. Hansen A/S, Creative Enzymes, DSM (Dutch Multinational Corporation), DuPont de Nemours, Inc, EDT-Enzymatic Deinking Technologies, LLC, Enzyme Supplies Limited, Kerry Group plc, Megazyme Limited, Novozymes A/S, Sunson Industry Group Co., Ltd. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

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Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

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