The Global Technical Enzymes Market is projected to reach USD 1.53 billion by 2027. The industrial enzyme market is fueled by the rising demand for food and beverages due to the increase in disposable income and changing lifestyle. Introduction of bio-fuel as a substitution for fossil fuels and a conventional source of energy is also encouraging the growth of the market. Governments across the world are encouraging consumers to switch to bio-fuel to encourage a clean and green environment. Another driving factor is the rising investment in food and beverages and pharmaceutical industries. Advancement in biotechnology is also encouraging the growth of the market in the field of protein engineering.
Enzyme industry, cellulase enzyme, industrial enzymes, enzymes used in industrial biotechnology, sources of industrial enzymes, industrial application of enzymes, enzyme technology, enzymes as industrial catalysts, enzyme technology in food industry, industrial production of enzymes, properties of enzymes, characteristics, naming, properties, and applications of specialty enzymes, to name a few are some of the most crucial corresponding factors and topics that have been influencing the market growth in many ways, have been additionally discussed in details in the report.
Key participants include DuPont de Nemours, Inc., Epygen Labs FZ LLC, Maps Enzymes, Aumgene Biosciences, BASF, Creative Enzymes, Enzymatic Deinking Technologies, Dyadic International, MetGen, and Novozymes, among others.
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Emerging needs of assuring desired quality & stability of the industrial & consumer grade products maintaining a high efficiency in the production capacity augment the mobility of the market primarily. Additionally, increasing consumer presence, requirement of higher degree of production volume, changing product portfolio, and demand for reducing the manufacturing costs & energy consumption with product wastage, the overall market is substantially being propelled.
The COVID-19 impact:
The COVID-19 pandemic has created endless disruptions to the manufacturing or production industries due to a shortage of resources in different parts of the world. The leading players in the industry are skeptical about the market's future and try to redesign their strategies to support the challenge. The pandemic had a serious impact on the distribution chains as a result of regular lockdowns. COVID-19 has influenced foreign commerce, exports and imports, and has also contributed to a major decrease in demand in the industry. The major companies operating on the market try to clear their stock and concentrate on keeping their cash balances. The manufacturing industries have been disrupted due to reduced available human resources. The companies are incorporating different techniques to increase the production volume and trying to develop innovative solutions at an affordable price, which can meet customer requirements at a much lower cost.
For the purpose of this report, Reports and Data have segmented into the global on the basis of type, form, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Form Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Organic Synthesis
- Textiles & Leather
- Paper & Pulp
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Rest of LATAM
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Further key findings from the report suggest
- With new innovations and advancement of technologies in the food industry, the market for industrial enzyme has found a niche in fat modification and sweetener technology, hence driving the growth of the market.
- Microorganisms are the primary source for industrial enzyme as they are economical, effective and are easily available.
- Protease is an essential enzyme as it is used for digestion of protein. It can hydrolyze every type of protein as long as they are not components of living cells.
- High demand for industrial enzymes in the United States is correlated with rising awareness of the environment, better productivity, and high product value thus leading to growth in the R&D sector.
- Carbohydrase enzymes are used extensively in the baking industry for manufacturing of wine, cheese and fruit juices.
- BioFuel with a CAGR of 4.9% is forecasted to be the fastest growing among all other applications owing to the unconditional support from government for the environment-friendly products.
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