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“The industrial enzymesmarket isprojected to grow at a CAGR of6.5% during the forecast period.”
According to the report, the industrial enzymes market is estimated to be valued atUSD 5.9 billion in 2020and is projected to reach USD 8.7billion by 2026, recording a CAGR of 6.5%, in terms of value. Factors such as the growing environmental concerns andthe rise in demand for bioethanolandadvancement tools to optimize industrial productionare projected to drive the growth of the industrial enzymes market during the forecast period. However, the growth of the industrial enzymesmarket is inhibited by factors, such as high adaptation costs involved for small-&medium-sized enterprises. In addition, the stringent regulatory framework for the use of industrial enzymesinhibits the growth of this market.
“By type, the proteasessegmentis projected to grow at thehighest CAGR during the forecast period.”
Proteases are essential enzymes for the digestion of protein and have become significant for use in the food & beverage industry. Proteases can hydrolyze all types of proteins, provided that they are not components of living cells.These enzymes can be obtained from plants, animals, and microorganisms in several conditions, such as high salt concentrations. Furthermore, proteases have been used to remove hair from hides, which helps in mitigating the usage of hazardous chemicals in the leather industry.
“By source, the microorganismsegment is estimated to account for the largest share.”
Based on source, the industrial enzymes market is segmented intomicroorganism, plant, and animal.The microorganismsegment is estimated to account for the largest share ofthe industrial enzymes marketas it is a primary source due to its special characteristics and other biochemical properties.In addition, microbial enzymes are an important source of raw materials for industrial applications due totheir diversity.Key factors that encourage manufacturersto opt for enzymes from microbial sources are their active and stable nature and their capability to degrade a wide range of complex substrates into more useful energy sources.
“The Asia Pacific region is projected to grow at the highest CAGR during the forecast period”
The industrial enzymes market in the Asia Pacificregion is largely driven by industrial shift and technological advancements that have made enzymes available for a wide range of applications.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. Furthermore, thechanging consumer preferencein the food & beverage industry hascontributedto the growth of the industrial enzymes market in this region.
The industrial enzymesmarketis segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, AsiaPacific,and RoW (Brazil, Argentina, South Africa, and others in RoW).
Break-up of Primaries
- By Value Chain:Supplyside – 57% and Demandside – 43%
- By Designation:CXOs - 29%,Managers–21%, and Executives–50%
- By Region:North America - 34%, Europe - 37%,Asia Pacific - 16%,and RoW - 13%
Leading players profiled in this report include the following:
- BASF (Germany)
- Novozymes (Denmark)
- DuPont (US)
- DSM (Netherlands)
- Kerry Group (Ireland)
- Dyadic International (US)
- Advanced Enzymes (India)
- Chr. Hansen (Denmark)
- Amano Enzymes (Japan)
- Megazyme (Ireland)
- Aumgene Biosciences (India)
- Biocatalysts (UK)
- Enzyme Supplies (UK)
- Creative Enzymes (US)
- Enzyme Solutions (US)
- Enzymatic Deinking Technologies (US)
- Sunson Industry Group (China)
- MetGen (Finland)
- Denykem (UK)
- Tex Biosciences (India)
This report segmentstheindustrial enzymesmarket on the basis oftype, source,form, application, and region. In terms of insights, this research report focuses on various levels of analyses?competitive landscape,pricing insights, end-use analysis, and company profiles?which together comprise and discuss the basic views on the emerging & high-growth segments of the industrial enzymesmarket, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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- To get a comprehensive overview of the industrial enzymesmarket
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