DUBLIN--(BUSINESS WIRE)--The "Microbial Lipase Market by Application (Cleaning Agents, Animal Feed, Dairy Products, Bakery Products, and Confectionery Products), Form (Powder and Liquid), Source (Fungi and Bacteria), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The microbial lipase market is estimated to be USD 425.0 million in 2018. It is projected to reach USD 590.2 million by 2023, growing at a CAGR of 6.8% from 2018, in terms of value.
The market has been largely driven by the increasing awareness about animal health & quality of animal produce and increasing consumption of enzyme-modified cheese (EMC) & enzyme-modified dairy ingredients (EMDI). The advantages of microbial lipases over animal and plant lipases are also driving the market growth. The use of microbial lipases is growing in cleaning agents, dairy products, bakery products, confectionery products, and animal feed due to its extracellular lipase production, low-cost extraction method, and the effective use of batch fermentation. Owing to these factors, microbial lipases are gaining importance in these segments.
The confectionery products segment is projected to grow at the highest CAGR from 2018 to 2023, by application, in the microbial lipase market, in terms of value and volume. The confectionery manufacturers are extensively using microbial lipases in the production of confections, as they help in breaking down fats and in rendering a creamy and cheesy flavor to the products.
The demand for fungal lipases is increasing across the globe, especially in developing countries such as China, India, and Brazil. The increase in the use of microbial lipases is attributed to its high potential in manufacturing various applications such as food additives, flavor modification, wastewater treatment, in cosmetics for removal of lipids, in the pulp & paper industry to remove the pitch from the pulp.
- Chr. Hansen
- Amano Enzymes Inc.
- Associated British Foods
- Advanced Enzymes
- Enzyme Development Corporation
- Aumgene Biosciences
- Meito Sangyo Co., Ltd.
- Creative Enzymes
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
6 Microbial Lipase Market, By Application
7 Microbial Lipase Market, By Form
8 Microbial Lipase Market, By Source
9 Microbial Lipase Market, By Region
10 Competitive Landscape
11 Company Profiles
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