$6.6 Bn Industrial Enzymes Market by Type, Application, Source, Formulation and Region - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Industrial Enzymes Market by Type (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases), Application (Food & Beverages, Bioethanol, Feed, Detergents, Wastewater, Soil, and Oil Treatment), Source, Formulation and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global industrial enzymes market is estimated to be valued at USD 6.6 billion in 2021. It is projected to reach USD 9.1 billion by 2026, recording a CAGR of 6.6% during the forecast period. Enzymes play an important role as a catalyst in the processing of several industrial products. Industrial enzymes are typically used as bulk enzymes in these and other industries. The market for industrial enzymes has witnessed significant growth as they are increasingly used as substitutes for chemicals, specifically in food & beverages and bioethanol. The application of industrial enzymes is also on the rise for detergents and as ingredients in the feed industry.

Asia Pacific is projected to witness the highest growth of 7.81% during the forecast period.

The Asia Pacific industrial enzymes market is led by their wide industrial applications across the region. Developed markets such as North America and Western Europe are becoming mature, which has led to faster growth in developing markets such as Asia Pacific. For instance, textile & leather has become one of the important industries in the Asia Pacific region because of changes in technological innovations in machinery, synthetic fibers, logistics, and globalization of business. In addition, the shift of industrial operations, such as textile & leather production, from developed nations in North America and Western Europe to the Asia Pacific region over the past decade has boosted the market for industrial enzymes.

Commercializing bioethanol production from enzymatic processes fueling the lipases market.

Lipases are enzymes that catalyze the hydrolysis of lipids and are one of the important groups of biocatalysts with biotechnological applications. They are extracted from many species of plants, animals, bacteria, fungi, and yeast. The ones derived from microorganisms are used in various industries, such as textile & leather, bioethanol, Paper & pulp, and wastewater treatment. Lipases are the major enzymes used for commercializing bioethanol production with enzymatic processes. As biological catalysts, they convert the free fatty acids (FFA) and triacylglycerol to fatty acid methyl esters, which generate biofuel. Transesterification is the functional benefit witnessed in the Paper & pulp industry due to the usage of lipases.

Late bitterness in citrus fruits represents an economic hindrance.

Pectinase was one of the first enzymes to be used and commercially applied for the processing of juices and wines. Its usage in the juice industry is related to a number of factors, especially in the clarification, maceration, and extraction, stabilization of the juice color during storage and increased yield. In addition to pectinases, other enzymes such as hemicellulases and cellulase are used in the production of fruit juices, with the objective of optimizing the processing of these products. The phenomenon of late bitterness in some citrus fruit juices represents an important economic hindrance for citriculture worldwide. The application of microorganisms as a tool to convert bitter citrus juices into non-bitter products.

Market Dynamics

Drivers

• Switch Toward Renewable Sources of Energy Lead to Increasing Consumption of Bioethanol
• R&D Activities Meeting the Rising Demand for Enzyme Applications
• Advancements in Enzyme Engineering & Green Chemistry and Introduction of Genetically Engineered Enzymes
• Use of Enzymes in Various Industries

Restraints

• Action of Enzymes Restricted to Various External Factors
• Stringent Regulatory Guidelines for Manufacturers
• High Adaptation Costs Involved for SMEs

Opportunities

• Demand for Natural Substitutes of Synthetic Chemicals
• Innovations in Technologies and a Wide Industry Scope
• Innovative Technological Platforms
• Development of Enzymes with a Longer Shelf-Life

Challenges

• High Costs of Raw Materials Limiting the Usage of Enzymes
• Concerns Over the Quality of Enzymes Used in the Food & Beverages and Feed Industries
• Lack of Transparency in Patent Protection Laws in Few Countries

Companies Mentioned

• BASF (Germany)
• Novozymes (Denmark)
• DuPont (US)
• DSM (Netherlands)
• ABF (UK)
• Kerry (Ireland)
• Advanced Enzyme Technologies (India)
• CHR. Hansen (Denmark)
• Amano Enzyme Inc. (Japan)
• Aumgene Biosciences (India)
• Megazyme (Ireland)
• Enzyme Supplies (UK)
• Creative Enzymes (US)
• Enzyme Solutions (US)
• Enzymatic Deinking Technologies (US)
• Biocatalysts (UK)
• Sunson Industry Group (China)
• Metagen (Finland)
• Denykem (UK)
• Tex Biosciences (India)

For more information about this report visit https://www.researchandmarkets.com/r/gxs0p1.