Industrial Enzymes Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
Emphasis on Product (Carbohydrases, Proteases, Lipases, Polymerases & Nucleases, Others); Application (Food & Beverages, Detergents, Animal Feed, Biofuels, Textiles, Pulp & Paper, Nutraceutical, Personal Care & Cosmetics, Wastewater, Others); Source (Plants, Animals, Microorganisms); Region/Country
The market for industrial enzymes is likely to showcase the CAGR of over 6.5% during the forecast period (2021-2027) to exceed the market value of $8.5 billion by 2027. The market is anticipated to be driven by ascending demand for carbohydrase and proteases in the food and beverage applications, especially in the emerging economies of Asia Pacific, such as China, India, and Japan owing to the increasing food demand in the region. For instance, in the year 2019, Japan had the highest per capita spending on food that is USD 4417.5 per person followed by followed by Australia, Canada, and France with per person spending of US$ 3,003.6, US$ 2986.9, and US$ 2983.4, respectively. The increased per capita spending of consumers on food has increased the demand on hotels, restaurants, bakeries; etc. This has positively impacted the demand for demand for enzymes in the food & beverage sector.
Furthermore, increased consumption of bakery products such as breads, pastries; etc. has been increasing the demand of enzymes in bakeries. For instance, in 2020, fresh bread and rolls were the best-selling bakery products in the United States, with sales amounting to a total of approximately 14 billion U.S. dollars. With sales in excess of nine billion U.S. dollars, the cookie was the country’s second-favorite baked product.
Furthermore, rising product demand from the end-use industries, such as biofuel, home cleaning, and animal feed, is projected to fuel the industry growth over the forecast period. Bioethanol is the most used biofuel, which is an alternative to fossil fuel and is mainly produced by the hydrolysis of cellulose from lignocellulosic biomass and by the fermentation of sugars of different lignocellulosic sources. The biodegradability and reduced toxicity of bioethanol, for which biomass is used as a primary substrate as well, are its main advantages over fossil fuels. The United States is the leading producer of fuel ethanol in the world. In 2020, the U.S. produced 13.8 billion gallons of the biofuel.
Fuel ethanol production worldwide in 2020 (million gallons), by Country
Kerry Group, BASF, Novozymes, DuPont, DSM, Dyadic International, Advanced Enzymes, Chr. Hansen, Amano Enzymes, Megazyme; etc. are some of the prominent players operating in the global Industrial Enzymes market. Several M&A’s along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst product, carbohydrases segment holds the major share”
Based on product, the global Industrial Enzymes market is segmented into carbohydrases, proteases, lipases, polymerases & nucleases, and others. The carbohydrases segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period as carbohydrase is the most prominent type of enzyme used in pharmaceutical and food industries.
“Amongst application, food & beverages are anticipated to grow at the highest CAGR during the analyzed period”
Further based on application, the market is divided into food & beverages, detergents, animal feed, biofuels, textiles, pulp & paper, nutraceutical, personal care & cosmetics, wastewater, and others. In 2020, food and beverages accounted for a maximum market revenue share and is expected to remain dominant during the analyzed period owing to the application of enzymes in the food & beverage industry.
“Amongst source, microorganisms’ segment is anticipated to grow at the highest CAGR during the analyzed period”
Based on source, the market is fragmented into plants, animals, and microorganisms. In 2020, microorganisms segment accounted for a maximum market revenue share and is expected to remain dominant during the analyzed period owing to their easy availability and low production cost.
“North America signifies one of the largest markets of Industrial Enzymes Market”
For a better understanding of the market dynamics of the Industrial Enzymes market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), Rest of World has been conducted. North America held the significant market share in 2020 owing to increasing expenditure of the population has been boosting the demand for enzymes in food beverages industry. For instance, according to a study published by the United States Department of Agriculture (USDA) in 2018, the North American population spends almost 14% of their household expenditure on food.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2||Objective of the Study|
|1.5||Currency Used in Report|
|1.6||Scope of the Global Industrial Enzymes Washer Market Study|
|2.1||Research Methodology for the Global Industrial Enzymes Washer Market|
|2.1.1||Main Objective of the Global Industrial Enzymes Washer Market|
|8.4||Polymerases & Nucleases|
|10.1||Food & Beverages|
|10.6||Pulp & Paper|
|10.8||Personal Care & Cosmetics|
|11.1||NORTH AMERICA WORLD INDUSTRIAL ENZYMES MARKET|
|11.1.3||Rest of North America|
|11.2||EUROPE WORLD INDUSTRIAL ENZYMES MARKET|
|11.2.6||Rest of Europe|
|11.3||ASIA PACIFIC WORLD INDUSTRIAL ENZYMES MARKET|
|11.3.5||Rest of Asia Pacific|
|11.4||REST OF THE WORLD INDUSTRIAL ENZYMES MARKET|
|14.1||Demand Side Analysis|
|14.2||Supply Side Analysis|
|14.2.1||Top Product Launches|
|14.2.2||Top Business Partnerships|
|14.2.3||Top Merger & Acquisitions|
|18.1||Porter’s Five forces analysis|
|18.1.1||Bargaining power of Supplier|
|18.1.2||Bargaining power of Buyer|
|18.1.4||Availability of Substitute|
|18.1.5||Threat of new Entrants|
|18.2.1||Company Shares, By Revenue|
|19.1.3||Key Product/Services Offerings||Revenue Split|
|19.1.4||Growth Strategy||Financial Overview of Kerry Group|
|19.1.6||Key Financials||Product Launch|
|220.127.116.11||Business Expansion and Investments|
|19.1.7||Recent Developments||Merger and Acquisition|
|18.104.22.168||Business Expansion and Investments|
|22.214.171.124||Merger and Acquisition|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Industrial Enzymes Market were the three major steps undertaken to create and analyze the adoption of Industrial Enzymes due to increased demand for green energy. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Industrial Enzymes sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Industrial Enzymes through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Industrial Enzymes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are technology and application. Further country-level analyses were conducted to evaluate the overall adoption of Industrial Enzymes in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Industrial Enzymes. Further, we conducted factor analysis using dependent and independent variables such as increasing demand for healthy diet and the growing population. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Industrial Enzymes industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Industrial Enzymes market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/ bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (USD) and the adoption rate of Industrial Enzymes across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Industrial Enzymes market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Industrial Enzymes market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the technology and application end-user of the Industrial Enzymes market.
Main Objective of the Industrial Enzymes Market Study
The current & future market trends of Industrial Enzymes were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Industrial Enzymes in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, sources, and application
- Define and analysis of the regulatory framework for the Industrial Enzymes industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Industrial Enzymes market for the major region
- Major regions studied in the report include North America (the United States, and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
- Company profiles of the Industrial Enzymes market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry