Industrial Enzymes Market Exhibiting Steady Growth Driven by Shifting Lifestyles and High Income of Population 2017-2025
Market Research Hub (MRH) has freshly announced the inclusion of a new study, titled "Industrial Enzymes Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" to its comprehensive collection of research reports. This 361-page report offers a holistic perspective on the market's growth in terms of revenue in US$ Mn, across different geographical regions namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The study includes drivers and restraints of the global industrial enzymes market. It also covers the impact of these drivers and restraints on demand for industrial enzymes market during the forecast period. Further, it highlights opportunities in the industrial enzymes market in the above-mentioned regions.
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Market Overview & Key Insights
Enzymes are preferred in various industrial processes as they accelerate chemical reactions while being selective and efficient, as well as, environment-friendly, in most cases. Variety of industries such as pharmaceuticals, chemical production, biofuels, food & beverage, and consumer products are using industrial enzymes across the world. At present, the market for industrial enzymes is chiefly driven by the increasing demand for food and beverages owing to shifting lifestyles and increase in disposable income of a wide populace.
According to the study key evaluations, the global industrial enzymes market is likely to show 8.8% CAGR between 2017 and 2025. By the end of the forecast period, the market is anticipated to reach US$12,844.4 mn that stood at US$6,067.4 mn in 2016. In terms of geography, North America held the leading share in the global industrial enzymes market in 2016. However, during the forecast period, Asia Pacific is projected to exhibit the robust CAGR backed by the rising demand from China. Also, population explosion and rising demands for food and changing lifestyles of the developing economies are driving this regional segment.
Furthermore, the industrial enzymes market can be primarily segmented into three categories: type, application and source. The carbohydrases, proteases, polymerases & nucleases, Lipase, phytase are the types of enzymes used in manufacturing of industrial enzymes. Of these, the carbohydrases are expected to drive the industrial enzymes market during the forecast period. It has been also analyzed that the market is likely to gain traction in response to government initiatives aimed at encouraging the use of biofuels. With the growing demand for biofuel, the demand for industrial enzymes like lipase and phospholipase also surge simultaneously. In addition, recent advancements in biotechnology, particularly in protein engineering, will enable the market exhibit strong growth in the coming years.
At last, the study comprises the competition landscape, which features important players operating in the global market and contains important information about these companies. Key players operating in the global industrial enzymes market include Advanced Enzyme Technologies Ltd, Chr. Hansen, Novozymes A/S, E.I. du Pont de Nemours and Company, Novus International Inc, and Zytex (India) Pvt. Ltd.
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