Global sales of industrial enzymes are predicted to increase at a noteworthy CAGR of 3.9% from 2022 to 2032. At the end of 2021, the global industrial enzymes market size was valued at US$ 6 billion and is anticipated to top US$ 9 billion by the end of 2032.
Demand for carbohydrases is expected to increase at a higher CAGR of 4.3% from 2022 to 2032, attributed to their high thermal stability, as well as their growing acceptance in food and biofuel industries. As such, this segment is predicted to account for around 44% of the global market share.
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Industrial enzyme manufacturing companies are pursuing the quick adoption of innovative technologies to improve product quality and increase their competitive share through strategic initiatives such as mergers, new product development, and acquisitions.
For instance :
- In 2021, Novozymes and Novo Nordisk Pharmatech partnered to develop best-in-class technical enzymes to support biopharmaceutical production solutions.
Key Companies Profiled:
- AB Enzymes
- Advanced Enzyme Technologies
- Amano Enzyme Inc.
- BASF SE
- BioResource International Inc.
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Increasing Demand for Renewable Energy Sources & Eco-friendly Products
The increasing demand for renewable energy sources and eco–friendly products is driven by a number of factors, including the need to reduce greenhouse gas emissions, the rising cost of traditional energy sources, and the desire to create a more sustainable future. Renewable energy sources such as solar, wind, and geothermal are becoming increasingly popular due to their clean, renewable nature and their ability to reduce dependence on fossil fuels.
Eco–friendly products are also gaining traction as consumers become more aware of the environmental impacts of their purchases. Companies are responding to this demand by investing in research and development of renewable energy sources and eco–friendly products, as well as offering incentives for consumers to switch to these alternatives.
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Key Segments Covered:
- by Product Type :
- Other Product Types
- by Application :
- Feed Additives
- Food Processing
- by End Use :
- Food & Beverages
- Animal Feed
- Personal Care & Cosmetics
- Other End Uses
- by Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?
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