The global industrial enzymes market size is projected to reach USD 9.14 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.4% from 2020 to 2027. Growing demand for specialty enzymes in applications, such as diagnostics, pharmaceutical, research, and biotechnology, is projected to foster the product demand. Industrial enzymes are also predicted to gain notable growth in the years to come due to their increasing demand from the animal feed and nutraceutical industries. Increasing consumer awareness concerning health has resulted in the growing consumption of functional food products, which is further likely to trigger the product demand in the near future.
The market for industrial enzymes is established with demand from food and beverages, pharmaceuticals, animal feed, biotechnology, detergent, nutraceuticals, and personal care and cosmetics sectors. The industry is majorly driven by increasing demand from the dairy and brewing industries. The growth can also be attributed to a shift in consumer preferences for processed and packaged foods owing to increasing awareness regarding food security and safety.
The U.S. is predicted to dominate the market in the years to come due to high demand from the food and beverage industry, mounting consumer awareness regarding health, and increasing consumer preference for functional foods. The U.S. industry is also anticipated to witness notable growth in the years to come due to extensive growth in the pharmaceutical and nutraceutical sectors. The market in Asia Pacific, led by India, China, South Korea, and Japan, is estimated to witness significant growth in the future owing to the expansion of the detergents and pharmaceutical sectors in the region.
The market is characterized by long enzymes development cycles and intensive investment by significant producers. Consequently, manufacturers and raw material suppliers have substantial opportunities to deliver uniform and high-quality enzymes through a reviewed supply chain.
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In 2019, carbohydrases emerged as the largest product segment owing to their extensive usage as a catalyst for converting carbohydrates into sugar syrup, including fructose and glucose
In 2019, microorganisms emerged as the largest source segment as they play a significant role in manufacturing various food products, including processed fruits, beer, soy sauce, dairy items, and baked goods
In 2019, North America emerged as the largest regional market owing to the strong presence of the end-use industries in the region, resulting in increased product consumption.
Grand View Research has segmented the global industrial enzymes market on the basis of product, source, application, and region:
Industrial Enzymes Product Outlook (Revenue, USD Million, 2016 - 2027)
Polymerases & Nucleases
Industrial Enzymes Source Outlook (Revenue, USD Million, 2016 - 2027)
Industrial Enzymes Application Outlook (Revenue, USD Million, 2016 - 2027)
Food & Beverages
Pulp & Paper
Personal Care & Cosmetics
Industrial Enzymes Regional Outlook (Revenue, USD Million, 2016 - 2027)
Central & South America
Middle East & Africa
List of Key Players of Industrial Enzymes Market
Associated British Foods plc
Advanced Enzyme Technologies
Chr. Hansen Holding A/S
Enzyme Development Corporation
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