Cibi e Bevande
Global Industrial Enzymes Market Generated ~$5.7 Billion Revenue in 2020, North America Was the Largest market, Says P&S Intelligence
Depending on type, the industrial enzymes market is categorized into proteases, carbohydrases, lipases, and polymerases. Out of these, the carbohydrases category dominated the market in 2020. This is ascribed to the usage of this enzyme in several industries such as pharmaceuticals, food and beverages, and animal feed.
The industrial enzymes market is also divided, on the basis of source, into plant, animal, and microorganism categories. Amongst these, the microorganism category contributed the highest revenue to the market in 2020, and it is predicted to surge sharply in the forthcoming years. This is credited to the fact that several enzymes are made from fungi, yeast, and bacteria. The enzymes sourced from fungi are extensively used in the preparation of different food products such as dairy items, processed fruits, baked goods, soy sauce, and beer.
Globally, North America dominated the industrial enzymes market in 2020. The surging number of clinical trials for creating potent drugs, enactment of strict regulations regarding drug discovery, implementation of supportive policies regarding biofuel production, existence of global players, and the development of green diesel, dynamic food and beverage products, biopolymers, and biofuels are driving the expansion of the market in the region.
The players operating in the global industrial enzymes market are focusing on developing and launching new products to gain a significant edge in the market. For example, Chr. Hansen Holding AS developed its new product called Sweety Y-1 , for dairy producers to prepare sweeter items without using too much sugar, in May 2019 . This product converts the already existing sugars in milk into glucose by utilizing lactose.
BASF SE, Koninklijke DSM N.V., Novozymes A/S, Associated British Foods plc, DuPont Danisco Cellulosic Ethanol LLC, Advanced Enzyme Technologies Ltd., Novus International Inc., Enzyme Development Corporation, and Chr. Hansen Holding A/S are some of the major industrial enzymes market players.
Globally, the North American bioethanol market generated the highest revenue in 2020, and it is expected to continue this trend throughout the forecast period.
Currently, Asia-Pacific (APAC) is the largest cosmetic chemicals market, as it is the most-populous region in the world. This creates a huge demand for cosmetic products and, in turn, of the chemicals that go into them.
Geographically, Asia-Pacific accounted for the largest share in the chlorobenzene market during the historical period (2015–2020), and it is expected to retain its dominance throughout the forecast period.
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Prajneesh Kumar
P&S Intelligence
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