According to Stratistics MRC, the Global Industrial Enzymes Market is valued at $4.91 billion in 2015 and is expected to reach $9.74 billion by 2022 growing at a CAGR of 10.3% between 2015 and 2022. The factors contributing to the market growth include rising demand for biofuels, investments in R&D, and demand for consumer products. Moreover, increasing pressure to reduce pollution and advancements in biotechnology are the factors driving the market growth. However, stringent government regulations in developed countries are limiting the market growth. Carbohydrase segment is the fastest growing and is expected to exhibit higher growth rate in the industrial enzymes market.
With the increase in per capita income, the expenditure on detergents, food products, and beverages has augmented the demand for industrial enzymes. These factors provide lucrative opportunities for emerging market players. The demand for industrial enzymes in developed nations was relatively stable in recent times, while the developing countries of Asia-Pacific, Middle East and African region emerged as the fastest growing markets for industrial enzymes.
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Some of the key players in the global industrial enzymes market include Amano Enzyme, Codexis, MP Biomedicals, Genencor International, Dyadic International, Novozymes, Advanced Enzyme Technologies Ltd., BASF SE, Dupont Danisco, BioResource International, Inc., Adisseo France Sas, Associated British Foods PLC, Buckman Laboratories, Chr. Hansen A/S, Guangdong VTR BioTech, ICC Industries, Koninklijke Dsm N.V, and Lonza Group.
Enzyme Types Covered:
Paper and Pulp
Food and Beverages
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