Industrial enzymes are bio-catalysts that increase the rate of chemical reactions in industrial applications without being consumed in the process. They are extensively used in food processing, animal feed, pharmaceuticals, textiles, detergents, and biofuels production. In the food and beverage industry, enzymes help improve texture, flavor, consistency, and shelf life of products. They aid in the production of baked goods, alcoholic beverages, grains and oilseeds processing, dairy products, and fruit and vegetable processing. The growing demand for processed and packaged food worldwide due to changing lifestyle and dietary patterns has been fueling the consumption of industrial enzymes.
The Global industrial enzymes market is estimated to be valued at US$ 7.53 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period from 2024 to 2031.
Key Takeaways
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. These players are focusing on new product launches and partnerships to strengthen their market position.
The key opportunities in the industrial enzymes market include development of cost-effective and environment-friendly production processes. Growing demand for low-calorie and low-fat food has opened opportunities for novel enzymes that help address these demands from health-conscious consumers.
Globally, the industrial enzymes market is expanding rapidly in the Asia Pacific region due to growth of end-use industries such as food processing, bioethanol and detergents in countries like China, India, Indonesia and Thailand. North America and Europe are also major regional markets however the demand growth is expected to be higher in developing Asian countries.
In terms of growth, the industrial enzymes market in South America, mainly Brazil and Argentina, is poised to expand at an above-average pace through 2031. This can be attributed to rapid industrialization, expanding agro-food processing capacities, and favorable governmental support towards a sustainable bio-based economy in the region. Developing end-use industries would augment the regional demand for industrial enzymes during the forecast period.
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