Growing strategic planning by key players is expected to bolster growth in the global industrial enzymes market. Leading players in this market are getting involved in partnership, mergers, and acquiring small or medium companies operating in same or similar market to strengthen their position in the market. They are also using advanced technologies to provide better and advanced products to their customers. More importantly, these players are using cutting-edge technology platforms to meet the growing demand from various industries. Furthermore, large number of players are entering into collaborations to boost production of industrial enzymes and gain a competitive edge over their rivals. According to the report, few of the key players in the global industrial enzymes market are Novus International Inc., Koninklijke DSM N.V., AB Enzymes GmbH, E.I.du Pont de Nemours and Company, and Associated British Foods (ABF) plc.
As per the analysts’ at Transparency Market Research foretell that the global industrial enzymes market is likely to witness high growth by progressing at steady 8.8% CAGR between 2017 and 2025. By rising at this growth rate, the market is expected to earn revenue of US$12.84 bn by the end of 2025. In 2016, the market was valued at US$6.06 bn
In the global industrial enzymes market, the demand in the proteases and carbohydrases segments is high. Together these two segments hold dominant share in the market. Increasing demand for proteases and carbohydrases in the animal feed and food and beverages industries is responsible for growth of these segments. On the regional frontier, developed regions are leading the market, as there is a huge investment in the food and beverages industries. On the other hand, Asia Pacific market is also considered as a fastest growing regional market that will boost the growth in the global industrial enzymes market.
Widespread Applications of Industrial Enzymes to Augment Market Growth
The global industrial enzymes market is expected to rise significantly in the coming years due to increasing applications in various industries. Especially talking about the pharmaceutical sector, industrial enzymes are used in producing high-quality cost-effective products. And in the food and beverages industry, industrial enzymes are used while making bakery products, wine making and brewing, fruit juices, and cheese. Moreover, increasing investment in food and beverages industry is likely to bolster demand in this market.
Even in the personal care products, industrial enzymes are used for preparing toothpaste, skin repair creams, whiteners, and mouthwashes. Considering all these factors, the global industrial enzymes market is projected to grow considerably. Furthermore, growing demand for packaged food and processed food across various regions and increasing demand for bio-fuels are likely to push growth in the global industrial enzymes market.
Strict Regulations Policies Challenges Easy Adoption of Industrial Enzymes
Even though, various driving factors are expanding the global industrial enzymes market, some restraints could hamper growth in this market. Strict regulations policies are one of the major restraining growth in the global industrial enzymes market. Moreover, lack of transparency in patent protection laws might further obstruct the market performance. Adding further, industrial enzymes only function under a particular ph level and temperature that also somewhere limits growth if industrial enzymes.
Despite these restraints, growing application of industrial enzymes in various industries including food and beverages, personal care products and cosmetics, bio-energy, and animal feed will help in overcoming these challenges.