Global Industrial Enzymes Market is expected to reach the market valuation of USD XX Billion by 2027 expanding at a reasonable CAGR of XX% during the forecast period (2021-2027) from USD XX Billion in 2020. Industrial Enzymes are becoming increasingly popular as a result of rising health concerns about sugar consumption and questions about the safety of some non-nutritive artificial sweeteners.Enzymes have been widely used to facilitate industrial processes and the production of products, and these enzymes are referenced as industrial enzymes. 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. For instance, fuel ethanol production reached 115 billion liter globally in 2019. Ethanol production in China reached 3.9 billion liter in 2019, and this level is expected to remain stable at around 4 billion liter in 2020 and output in India reached 1.9 billion liter in 2019.
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Many dish detergents and hard surface cleaners already use enzymes, which can break down soils, oils, and other grime as well as boost the performance of other ingredients. Many key players in are working on utilizing in cleansing products. For instance, Enzymes, along with live microbes and advanced surfactants, are central to Unilever’s $1.2 billion plan to shift to 100% biobased ingredients for its cleaning products by 2030.
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The COVID-19 pandemic has caused disruption in supply chain worldwide. This has had a profound impact on Industrial Enzymes. The rising spread of the virus led to strict lockdown restrictions across many countries around the globe. The rising spread of the virus led to strict lockdown restrictions across many countries around the globe. The supply chain and logistics were harmed as a result of the closing of borders across numerous countries. For instance, according to RetailNext in 2020, 32% of global merchants had minor impact, while only 12% of retailers globally experienced severe disruption as a result of the pandemic. It has resulted in significant disruptions to businesses and economic activities globally and is expected to have a short-term negative impact on the Industrial Enzymes market due to limited or non-availability of raw material transport and disruption in service providers. This aspect led to a decrease in the growth rate of the Industrial Enzymes market.
However, as the lockdown limitations has been decreased in various countries worldwide the supply chain has started gaining strength again and commercial as well as industrial operations has restarted. Therefore, Industrial Enzymes market has been expected to experience fast growth during the forecast period.
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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 generated total revenue of USD XX Billion. It is anticipated to maintain its dominance as the fact that carbohydrase is the most prominent type of enzyme used in pharmaceutical and food industries.
Based on source, the market is divided into plants, animals, and microorganisms. The commercial segment dominated the market in 2020 and generated total revenue of USD XX Billion. It is anticipated to maintain its dominance during the forecast period owing to its easy availability and low production cost.
Based on the application, the market is fragmented into food & beverages, detergents, animal feed, biofuels, textiles, pulp & paper, nutraceutical, personal care & cosmetics, wastewater, and others. The food & beverages segment dominated the market in 2020 and generated total revenue of USD XX Billion.
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Additionally, the report provides detailed initiatives that are being taken in the field of Industrial Enzymes. The market is classified into distinct regions 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 dominated the market and generated revenue of USD XX billion in 2020 on account of the development of novel and superior performing products and global industrialization.
Major key players include Kerry Group, BASF, Novozymes, DuPont, DSM , Dyadic International, Advanced Enzymes, Chr. Hansen, Amano Enzymes, Megazyme 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 develop Industrial Enzymes.
Global Industrial Enzymes Market Segmentation
Market Insight, by Product
· Carbohydrases
o Amylases
o Cellulase
o Others
· Proteases
· Lipases
· Polymerases & Nucleases
· Others
Market Insight, by Source
· Plants
· Animals
· Microorganisms
Market Insight, by Application
· Food & Beverages
· Detergents
· Animal Feed
· Biofuels
· Textiles
· Pulp & Paper
· Nutraceutical
· Personal Care & Cosmetics
· Wastewater
· Others
Market Insight, by Region
· North America
o United States
o Canada
o Rest of North America
· Europe
o France
o Germany
o Italy
o Spain
o United Kingdom
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Australia
o Rest of Asia-Pacific
· Rest of World
Top Company Profiles
· Kerry Group
· BASF
· Novozymes
· DuPont
· DSM
· Dyadic International
· Advanced Enzymes
· Chr. Hansen
· Amano Enzymes
· Megazyme