Industrial Enzymes Market Insight, Forecast 2022-2028

1. Global Industrial Enzymes Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2022-2028

2. Global Industrial Enzymes Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Industrial Enzymes Market was worth USD 7.6 billion in the year 2022. The market is projected to grow at a CAGR of 6.8%, earning revenue of around USD 10.5 billion by the end of 2028. The significant growth of the Global Industrial Enzymes market is attributed to industrialization, increasing shift towards renewable sources of energy and biofuel which is environment-friendly, expanding Food and beverage industry, rapid technological innovation, increasing usage of enzymes in industries to control process time, lower the activation energy of a reaction, increase shelf-life, enrich the flavor of food, increase the reaction rate, and decline the use of food additives.

3. Growth Drivers Growing Environmental Concerns and Rising Demand for Bio-fuel With the rising environmental concern around the globe due to the harmful chemical usage in industries, enzymes are considered a sustainable alternative resulting in driving the growth of the Global Industrial Enzymes Market. The increasing shift towards renewable sources of energy and bio-fuel which is  environment-friendly is also fueling the market growth. Enzymes like carbohydrate, lipase, and phospholipase play a crucial role in the production of bio-fuel by enzymatic hydrolysis. Bio-ethanol, bio-diesel is used as a transport fuel to replace gasoline, it reduces combustion emission, and creates by-products that are also useful, all these factors increase the demand for Global Industrial Enzymes Market across the globe during the forecast period.

4. Restraints  Sensitivity and Safety Issues Associated with Industrial Enzymes Some factors like safety issues, handling associated with enzymes, and greater sensitivity to temperature and pH are the major restraining factors for the growth of the market. Enzymes can be contaminated by a small increase in temperature due to their highly-temperature sensitive nature which affects negatively the chemical reaction of enzymes in food and beverages. Moreover, all these factors lead to more safety concerns and increase the cost of enzymes as a raw material which in turn restrain the growth of the Global Industrial Enzymes Market.

5. Impact of COVID-19 The COVID-19 Pandemic negatively affected the growth of the Global Industrial Enzymes Market owing to the complete lockdown that forced the temporary closure of manufacturing processes, disruption in supply chains, and shortage of raw materials Also, government announced a temporary ban on foreign air travel, resulting in decline of the growth of the market. However, post COVID-19 pandemic, the demand for healthy and nutritious food increased due to the rising health awareness, resulting in surge of demand for fortified foods and beverages infused with nutritional enzymes and other energy sources and hence, proliferating the Global Industrial Enzyme Market during the forecast period (2023-2028).

6. Regional Insights Geographically, the Global Industrial Enzymes market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The North American segment accounts to hold the largest share in the market owing to technological advancements, expanding industrialization in this region, rising adoption of alcoholic beverages, rising awareness of green technology, and increasing availability of raw materials. Sample Copy of the Report : https://www.blueweaveconsulting.com/report/global-industrial-enzymes-market/report-sample

7. Competitive Landscape The leading market players in the Global Industrial Enzymes market are NOVOZYMES (US), ADVANCED ENZYME TECHNOLOGIES LTD., Associated British Food plc (UK), BASF SE, DU PONT (US), Chr. Hansen Holdings A/S (Denmark), Kerry Group (Ireland), Novus International, Amano Enzyme Inc., AB Enzymes GmbH, Lesaffre, Enzyme Development Corporation, Biocatalyst (UK), and other prominent players.

8. Recent Development In May 2021, Advanced Enzyme Technologies Ltd has announced that the Board of Directors (BOD) has sanctioned the acquisition of an additional stake of 15% of the equity share capital of JC Biotech Private Limited (70% subsidiary of the company).

9. Key Players NOVOZYMES (US), ADVANCED ENZYME TECHNOLOGIES LTD., Associated British Food plc (UK), BASF SE, DU PONT (US), Chr. Hansen Holdings A/S (Denmark), Kerry Group (Ireland), Novus International, Amano Enzyme Inc., AB Enzymes GmbH, Lesaffre, Enzyme Development Corporation, Biocatalyst (UK), and other prominent players.

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