The global industrial enzymes market is anticipated to witness significant growth in coming years owing to rising consumption of processed and packaged food. Industrial enzymes are natural protein molecules that act as catalysts in biochemical reactions. They are responsible for various biochemical reactions in animals, plants, human beings, and microorganisms. In addition, they can accelerate the reaction rate of biochemical processes. Moreover, industrial enzymes are biodegradable and can be used as an alternative for non-renewable chemicals to reduce production of harmful waste.
Growing demand for digestive and nutritional enzymes in the nutraceutical sector is projected to fuel growth of the market. Increasing use of the product to manufacture detergents attributed to superior stain removal properties can stimulate market growth. Rising demand for food and beverages attributed to increase in disposable income and changing lifestyle can augment growth. Supportive government initiatives to promote use of biofuels over fossil fuels to protect environment can drive the market in coming years. Growth of the biotechnology sector in terms of protein engineering can fuel product demand in near future. Increasing use of compounds in the textile sector to manufacture furniture, clothing, and other household items can spur market growth.
However, industrial enzymes can function under specific pH and temperature, which can hinder market growth. In addition, stringent regulation pertaining to use of these enzymes can restrain growth in coming years. Increasing investments in pharmaceutical and food and beverage sector can create lucrative opportunities for the market.
The market can be segmented on the basis of type, application, and source. Based on type, the market can be categorized into cellulose, amylase, protease, lipase, rennet, and others. In terms of application, the market can be classified into food and beverages, cleaning agents, textiles, animal feed, pulp and paper, and others. On the basis of source, the market can be divided into animal, plant, and microorganisms.
North America is predicted to witness highest growth rate owing to use of industrial enzymes in the production of biofuel. Supportive government initiatives in terms of investments and standardizations to promote use of biofuel can augment regional market growth. Approvals by the United States Food and Drug Administration (FDA) for the use of food additives can stimulate market growth in coming years. Launch of new and innovative products by local companies can positively influence market growth. For instance, DuPont announced the launch of PowerBake 6000 product based on a new enzyme. The product acts as a strengthening solution that helps in adding tolerance and enhancing consistency in breads and buns. The versatility of the product can help food manufacturers in addressing issues related to their baked goods. Similarly, Creative Enzymes launched a new product called Pectolyase. The product is the main component of decomposing plants. Based on substrate, the product can be segmented into three types. One exists in microorganisms and other two types are likely to exist in higher plants and microorganisms. The product can accelerate fruit juice filtration and promote clarification in fruit crushing.
Europe is estimated to witness substantial growth in coming years attributed to stringent regulations by the European Union (EU) pertaining to use of chemicals in personal care products and cosmetics. In addition, increasing R&D investments by companies to develop new and effective products can stimulate market growth. For instance, a group of scientists at Imperial College London modified the glucosidase enzyme, which can help break down complex carbohydrates in biomass, like cellulose present in plant cells. Cellulose converted into glucose can then be fermented to make ethanol, a form of biofuel.
Asia Pacific is anticipated to emerge highly lucrative in coming years owing to growth of the pharmaceutical and food and beverages sectors in developing countries, such as India and China. Increasing innovative developments in the field by local companies can also boost regional market growth. For instance, Hong Kong Science and Technology Parks Corporation (HKSTP) developed a comprehensive biotechnology platform. The platform applies enzyme-based, low-cost processes in manufacturing high-quality nutraceutical, pharmaceutical, and foods products.
Some of the leading companies operating in the industrial enzymes market are Associated British Foods PLC, Advanced Enzyme Technologies Ltd, BASF SE, Novus International, and Roche Diagnostics International AG.
