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Industrial Enzymes Market Size Is Set To Reach USD 9.77 Billion In 2028

Reports And Data

Reports And Data

Increasing focus on research & development activities and rising demand for sustainable chemicals are some key factors driving market revenue growth

NEW YORK CITY, NY, UNITED STATES, December 3, 2021 /EINPresswire.com/ -- The global industrial enzymes market size is expected to reach USD 9.77 Billion in 2028 and register a CAGR of 6.4% over the forecast period, according to the latest report by Reports and Data. Market revenue growth can be attributed to increasing concerns regarding high CO2 levels, rising demand for bioethanol, and higher focus on research & development activities by key players to develop novel products. Industrial enzymes are commercially used in various end-use verticals such as pharmaceuticals, food and beverage, and biofuels. Application of these enzymes in industrial operation offers multiple advantages over conventional chemical processes such as improved sustainability and efficiency of process.

There are different types of enzymes used in industrial applications such as lipases, carbohydrases, polymerases and nucleases, proteases, and others. Carbohydrases segment accounted for largest revenue share in global market in 2020, driven by increasing usage of carbohydrases in textiles, bioethanol, and food sectors. In addition, increasing application of industrial enzymes in animal feed industry, rapid industrialization in developing countries such as India and China, ongoing technological advancements in the field of biotechnology, and rising investment in food and beverage, as well as pharmaceutical sectors are some key factors expected to drive global industrial enzymes market revenue growth over the forecast period.

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According to the International Energy Agency (IEA), chemical industry is the third-largest contributor of carbon emissions globally. In 2018, companies such as BASF, Sinopec, and Dow Chemical accounted for over 880 million tons of carbon dioxide in the environment. Chemicals used in various industrial processes contribute majorly to increasing greenhouse gas emissions. Companies in the global market are focusing on research & development activities to introduce sustainable and environmentally friendly products. Introduction of advanced and sustainable chemicals used in a variety of industrial processes is expected to further lead to high demand for industrial enzymes over the forecast period.

Some Key Highlights From the Report:

In September 2021, Solugen, which is a leading sustainable chemical start-up, raised over USD 357 million in a venture funding led by Baillie Gifford and Singapore-based sovereign wealth fund GIC to focus on issues related to climate crisis. Solugen manufactures chemicals from renewable feedstock and enzymes, and further aims to covert carbon into products such as formaldehyde-free resins and building materials.
In September 2018, Kerry Group announced opening of its first plant in Moscow, Russia. The new warehouse and production complex will manufacture ingredients for the meat processing and snacks industry. The company aims to cater to high local demand for products that meet nutrition preferences and consumer taste.
Food and beverages segment accounted for largest revenue share in global market in 2020. This growth can be attributed to increasing use of enzymes in the food sector for dairy products, beverages, processed meat, bakery products, nutraceuticals, and other processed foods to improve nutritional value and quality.
Industrial enzymes market in North America is expected to account for largest revenue share over the forecast period. This is due to presence of established companies in developed countries such as the United States, rapid development of pharmaceutical sector, and increasing awareness about health benefits of consumption of nutraceuticals.
Asia Pacific is expected to register fastest revenue CAGR during the forecast period. This growth can be attributed to increasing awareness about consumption of healthy food products, rapid industrialization, technological advancements in biotechnology sector, presence of large population, and development of food, healthcare, and pharmaceutical industries.

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Some major companies profiled in the market report:
Advanced Enzymes
Amano Enzymes
Aumgene Biosciences
Biocatalysts
Enzyme Supplies
Creative Enzymes
Enzyme Solutions
Enzymatic Deinking Technologies
Sunson Industry Group
DuPont

For the purpose of this report, Reports and Data has segmented global industrial enzymes market based on type, source, form, application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)
Carbohydrases
Lipases
Proteases
Polymerases & Nucleases
Others

Source Outlook (Revenue, USD Billion; 2018-2028)
Plant
Microorganism
Animal

Form Outlook (Revenue, USD Billion; 2018-2028)
Liquid
Dry

Application Outlook (Revenue, USD Billion; 2018-2028)
Food & Beverages
Bioethanol
Detergents
Textiles & Leather
Paper & Pulp
Wastewater Treatment
Feed
Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

To Identify The Key Trends In The Industry, Research Study At: https://www.reportsanddata.com/report-detail/industrial-enzymes-market

About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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