The industrial enzymes market is projected to grow from USD 7.9 billion in 2024 to USD 11.2 billion by 2029, growing at a CAGR of 7.2% during the forecast period. The increasing demand for renewable energy sources has spurred the growth of the biofuel market, particularly biodiesel, and bioethanol. Industrial enzymes play a pivotal role in biofuel production by breaking down complex plant materials into fermentable sugars, facilitating the conversion process. As the biofuel industry expands, there is a corresponding rise in the demand for industrial enzymes to support this growth. Additionally, the food and beverage industry presents a substantial growth avenue for industrial enzymes, as they are widely utilized for food processing, flavor enhancement, clarification, and extending the shelf-life of products. With evolving consumer preferences and rising demand for processed foods, the food and beverage sector holds significant potential for the industrial enzymes market.
Industrial Enzymes Market Trends and Growth Drivers
Rising Demand for Bio-based Products: Consumers and industries are shifting towards eco-friendly and sustainable products. Industrial enzymes help replace harsh chemicals in manufacturing processes, making them more environmentally friendly.
Expanding Applications in the Food Industry: The food and beverage sector is a major consumer of industrial enzymes. These enzymes enhance food processing, improve texture, and increase shelf life. Common examples include amylases in baking and proteases in dairy processing.
Increased Use in Biofuel Production: With the growing need for alternative energy sources, enzymes such as cellulases and amylases are playing a critical role in biofuel production. They help break down plant materials into fermentable sugars, leading to more efficient ethanol production.
Technological Advancements and Innovations: Advances in biotechnology and genetic engineering are improving enzyme efficiency and expanding their potential applications. Enzyme engineering is enabling the development of highly specialized enzymes tailored for specific industrial needs.
Regulatory Support and Sustainability Initiatives: Government policies promoting sustainability and green chemistry are encouraging industries to adopt enzymatic processes over conventional chemical methods.
Food & Beverage Sector Leading the Market Growth
The application of industrial enzymes in the food and beverage sector is projected to dominate market share during the forecast period. One of the primary drivers of this growth is the increasing consumer preference for natural, sustainable, and healthier food products. Enzymes not only preserve natural qualities but also enhance efficiency in food processing, making them highly attractive to health-conscious consumers.
Furthermore, enzymes play a crucial role in the development of innovative products such as plant-based, lactose-free, and gluten-free alternatives, which are gaining popularity as dietary preferences evolve. Their ability to improve texture, flavor, and shelf life further boosts their demand. As the food industry continues to innovate, the importance of enzymes grows, fueling their rapid expansion within the sector.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=237327836
Carbohydrases Segment Expected to Dominate Market Share
Among enzyme types, the carbohydrases segment is anticipated to hold the largest market share during the forecast period. This growth can be attributed to several factors, including the rising demand for processed foods that require enhanced texture, flavor, and shelf life—key functions of carbohydrases.
Carbohydrases facilitate the breakdown of complex carbohydrates into simple sugars, making them essential for industries such as baking, brewing, and biofuel production. Additionally, the push for healthier food formulations is driving demand, as these enzymes help reduce sugar content in products by hydrolyzing starches into sugars, enabling the production of lower-calorie sweeteners. The growing need for renewable energy sources, particularly in biofuel production, further accelerates demand for carbohydrases, given their crucial role in converting biomass into fermentable sugars.
Asia-Pacific Region Expected to Experience Highest Growth
The Asia-Pacific region is projected to witness the highest compound annual growth rate (CAGR) in the industrial enzymes market. This rapid expansion is primarily driven by the region’s flourishing food and beverage industries, where enzymes are used to enhance product quality and shelf life.
Additionally, government initiatives promoting biofuel production have significantly increased enzyme usage in bioethanol manufacturing. The textile industry, another key end-user, is also experiencing rapid growth in this region, with enzymes providing eco-friendly processing solutions. Furthermore, advancements in sustainable agriculture are contributing to the rising adoption of enzymes, reinforcing their growing market presence.
Top 10 Companies in the Industrial Enzymes Market:
· BASF (Germany)
· DuPont (US)
· Associated British Foods plc (UK)
· DSM (Netherlands)
· Novozymes (Denmark)
· Kerry Group plc (Ireland)
· Advanced Enzymes Technologies (India)
· Chr. Hansen Holding A/S (Denmark)
· Megazyme Ltd. (Ireland)
· Biocatalysts (UK)
BASF
In April 2021, in order to invest at the Kundl/Schaftenau Campus in Austria, BASF made an agreement with Sandoz GmbH, a division of Novartis. Through this arrangement, BASF is able to expand the scope of its enzyme and biotechnology product production. Both sides agreed that the financial terms of the deal should remain confidential. The arrangement enables BASF to increase the size of its detergent enzyme production facility, extend the range of its products, and maintain its market-leading position in the home care and I&I sector. One of the world’s top producers of generic drugs and biosimilars, Sandoz is a branch of the Novartis Group. The division was created in 2003 when Novartis combined all of its generic’s businesses under the umbrella of Sandoz, a single well-established global brand. Since then, Sandoz has expanded into a market leader in generics, with annual sales of about USD 10 billion.
Novozymes
A significant player in the biotechnology industry, Novozymes offers biological solutions that use a variety of enzymes and microbial applications. The business serves sectors like household care, food and beverage, bioenergy, agricultural and feed, and technical and pharmaceutical. The company’s primary business divisions include household care, food, beverage, and human health. North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa are among the regions that Novozymes has catered to. In North America and Latin America, the bioenergy market is largely dominating. The company’s technical & pharma division sells enzymes for the textile, pharmaceutical, and other industries. In December 2022, Chr. Hansen and Novozymes, two biotechnology firms, will join to form a new, enormous global ingredients company. Chr. Hansen will be purchased by Novozymes for around USD 12.3 billion. The deal is anticipated to be finalized no later than the fourth quarter of 2023.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=237327836
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s Best Management Consulting Firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe.
Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem.
The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts.
In addition, MarketsandMarkets SalesIQ enables sales teams to identify high-priority accounts and uncover hidden opportunities, helping them build more pipeline and win more deals with precision.
Media ContactCompany Name: MarketsandMarkets™ Research Private Ltd.Contact Person: Mr. Rohan SalgarkarEmail: Send EmailPhone: 18886006441Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445City: FloridaState: FloridaCountry: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/industrial-enzymes-market-237327836.html
