Market Highlights

Global Industrial Enzymes Market accounted for USD 6.2 billion in 2018 and is expected to register a CAGR of 5.6% during the forecast period of 2019 to 2024. There is an increasing demand for the enzymes in various industries such as food & beverages, feed, textiles, pharmaceuticals and nutraceuticals, and biofuel. The ability of enzymes to increase production is one of the major factors boosting the demand for industrial enzymes. Furthermore, the development of genetically modified enzymes has created lucrative opportunities for industrial enzymes manufacturers.

Key Players

Some of the key players in the global Industrial Enzymes Market are

• BASF SE (Germany),
• DowDuPont (US),
• Associated British Foods PLC (UK),
• Koninklijke DSM N.V. (Netherlands),
• Novozymes A/S (Denmark),
• Dyadic International Inc. (US),
• Advanced Enzyme Technologies Ltd (India),
• Adisseo (China),
• Hansen Holding A/S (Denmark),
• Amano Enzyme Inc. (Japan),

In June 2018, DowDuPont and ADM partnered to provide cellulase enzyme to grain-based ethanol plants to produce ethanol from corn kernel fiber.

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Segmentation

The global industrial enzymes market has been segmented based on type, application, source, and region.

Based on source, the global industrial enzymes market has been classified as plant, animal, and microorganisms. In 2018, the microorganisms segment accounted for the largest share in the market, while the animal segment is projected to register the fastest growth rate during the forecast period. The microorganisms are easily available, less expensive, and can provide a wide range of enzymes, thus gaining popularity among the industrial enzyme manufacturers.

Regional Analysis

On the basis of region, the global industrial enzymes market has been divided into North America, Europe, Asia-Pacific, and the rest of the world.

Some of the strategies followed by the players operating in the market were product launches, acquisitions, mergers, and expansions.

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