Industrial Enzymes Market Size, Share & Trends Analysis Report By Product (Carbohydrase, Proteases), By Source (Plants, Animals, Microorganisms), By Application (Food & Beverages, Detergents, Animal Feed), By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the industrial enzymes market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for industrial enzymes market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of industrial enzymes market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Industrial Enzymes Market Categorization:

The industrial enzymes market was categorized into four segments, namely product (Carbohydrase, Proteases, Lipases, Polymerases & Nucleases), source (Plants, Animals, Microorganisms), application (Food & Beverages, Detergents, Animal Feed, Biofuels, Textiles, Pulp & Paper, Nutraceutical, Personal Care & Cosmetics, Wastewater, Agriculture), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The industrial enzymes market was segmented into product, source, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The industrial enzymes market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Spain; Italy; China; India; South Korea; Indonesia; Japan; Australia; Brazil; Argentina; Saudi Arabia; Turkey.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Industrial enzymes market companies & financials:

The industrial enzymes market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Novozymes - Novozymes was established due to a demerger from a pharmaceutical company named Novo Nordisk, and today, it is a prominent player in bioinnovation. It deals with industrial enzymes and microorganisms. The company discovers natural enzymes and improves them for further use in several end-use industries. Its enzymes are broadly utilized in dishwashing & laundry detergents and food & beverage sector, especially in beer production, animal feed, and the production of biofuels. The company distributes enzymes in over 40 end-use industries. It has production facilities in the U.S., Denmark, Brazil, Argentina, China, Canada, and India. The company has sales offices and affiliates in over 30 countries besides production units.

• BASF SE - BASF SE is a chemical manufacturer operating through its subsidiaries and joint ventures in over 80 countries with more than 353 production sites spread across the globe. The company operates through five business segments, namely, performance products, chemicals, agricultural solutions, functional materials & solutions, and oil & gas. It also has 13 operating divisions and around 84 sub-business units worldwide. The product portfolio of the chemicals segment includes intermediates, monomers, petrochemicals, and catalysts. The company specializes in manufacturing ingredients, such as enzymes and industrial enzymes, for industrial applications, animal nutrition, grain processing, home care, oilfield solutions, industrial & institutional solutions, and pulp & paper. The company was established in 1856 in Ludwigshafen, Germany, and employs over 111,500 people across the globe.

• DuPont Danisco - The company was established in 2008 and headquartered in U.S. DuPont acquired Danisco in January 2011 for approximately USD 6.3 billion. Food ingredients and enzymes are combined with DuPont’s business divisions, namely, ‘Nutrition and Health’ and ‘Industrial Biotechnologies,’ and the company markets enzymes under the brand DuPont Danisco. DuPont de Nemours, Inc. ("DuPont") and International Flavors & Fragrances Inc. ("IFF") announced an agreement for DuPont's Nutrition & Biosciences ("N&B") business to merge with IFF ("Merger"). The Merger closed on February 1, 2021. DuPont's nutrition and health business division produces and markets enzymes used in dietary supplements, pet foods, and food & beverages. Its product portfolio includes bakery enzymes, brewing enzymes, dairy enzymes, fish processing enzymes, and meat & culinary processing enzymes. Food enzymes of DuPont Danisco provide an improved nutritional profile, enhanced bioprotection, lower environmental impact, greater cost efficiency, and better texture and taste.

• DSM - DSM is a global science-based company active in nutrition, healthcare, and industrial materials. The company caters its products to numerous industries such as animal nutrition & health, food & beverage, energy, medical, paints & coatings, life protection, personal care, and sports & leisure. It operates through three clusters, namely, nutrition, materials, and innovation centers. The company's nutrition segment produces and markets enzymes used for various applications. It serves its customers in over 50 countries across the globe. The company manufactures enzymes primarily for the food & beverage, nutraceutical, and animal feed sectors. The enzymes manufactured for the food & beverage sector are used in several applications such as baking, brewing, confectionery and invert sugar, cheese, fresh dairy, egg processing, and fruit & vegetable processing. The company was established in 1902 and operates through several manufacturing sites, distribution centers, and corporate offices across the globe.

• International, Inc. - 1991 Missouri, U.S. 440+ NOVUS INTERNATIONAL offers nutrition solutions for the aquaculture, poultry, swine, beef, and dairy sectors. The company’s product portfolio consists of carotenoid solutions, enzyme solutions, mineral solutions, eubiotics, feed quality, and methionine solutions. Enzyme solutions are offered under the brand Cibenza and include a broad range of products, namely, Cibenza EP150, Cibenza DE200, Cibenza DP100, Cibenza IND900, and Cibenza Phytaverse, which are used as feed additive enzymes in various end-use industries. The company comprises research and development laboratories and manufacturing facilities in over 35 countries. The US-based company was established in 1991, and it operates in the global market with corporate offices in more than 60 countries.

• Associated British Foods plc - The UK based company was established in 1935 and employs more than 1,32,000 people worldwide. Associated British Foods plc is a diversified international retail, food, and ingredient group. The company operates through five business segments, namely, sugar, grocery, ingredients, agriculture, and retail. It has manufacturing units globally and functions in over 53 countries across the Americas, Europe, Asia, and Africa. AB Enzymes is an industrial biotech firm affiliated with ABF Ingredients, a subsidiary of Associated British Foods plc and specializes in manufacturing and distributing enzymes for several industrial applications. The company manufactures enzymes for end-use industries including food & beverages, paper & pulp, animal feed, textiles, and detergent.

• Amano Enzyme Inc. - The company was established in 1899 and headquartered in Japan, employing around 500-1000 people. Amano Enzyme Inc. is a Japanese biotechnology company that develops, produces, and sells enzymes. Amano Enzyme has a global presence, with operations in over 20 countries. The company's headquarters is in Nagoya, Japan, and it has manufacturing facilities in Japan, the U.S., Europe, and China. Amano Enzyme also has a network of sales and marketing offices worldwide.

• Chr. Hansen Holding A/S - The company was formed in the year of 1874 and now headquartered in Horsholm, Denmark. Chr. Hansen Holding A/S is a bioscience company providing natural ingredients and solutions to the industrial, agricultural, food, and pharmaceutical industries. The company manufactures enzymes, natural colors, and probiotics for various applications such as confectionery, dietary supplements, plant protection, foods, beverages, and animal feed. It operates through three business segments food culture & enzymes, natural colors, and health & nutrition. The company has its global headquarters in Denmark and operates through several manufacturing and distribution facilities in key regions, including Europe, Africa, Asia, and the Americas.

• Advanced Enzyme Technologies - The company was established in 1989 and is headquartered in Mumbai, India. Advanced Enzyme Technologies manufactures enzymes and probiotics that cater to several applications, including food processing, non-food processing, animal nutrition, and human nutrition. The company is the founder of papain enzymes extracted from papaya fruit. Papain is broadly utilized in a variety of medical and pharmaceutical products. The company is engaged in the manufacturing, research & development, and distribution of more than 400 products using over 65 probiotics and enzymes in more than 45 countries globally. The company operates in Latin America and North America through its subsidiaries, namely AST Enzymes (Advanced Supplementary Technologies) Corporation and DBA Specialty Enzymes and Biotechnologies.

• Lesaffre - Lesaffre was established in 1853 and headquartered in Marcq-enBarœul, France. Lesaffre is a prominent manufacturer and supplier of innovative solutions for food taste & pleasure, baking, biotechnology, and healthcare. The company manufactures industrial enzymes such as baking, milling, animal nutrition, and food processing. It operates in more than 185 countries and has over 50 production facilities.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Industrial Enzymes Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Industrial Enzymes Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.