Microbial Lipase Market by Application (Cleaning Agents, Animal Feed, Dairy Products, Bakery Products, and Confectionery Products), Form (Powder and Liquid), Source (Fungi and Bacteria), and Region - Global Forecast to 2023
“Microbial lipase market is projected to grow at a CAGR of 6.8%.”
The microbial lipase market is estimated to be USD 425.0 million in 2018. It is projected to reach USD 590.2 million by 2023, growing at a CAGR of 6.8% from 2018, in terms of value. The market has been largely driven by the increasing awareness about animal health & quality of animal produce and increasing consumption of enzyme-modified cheese (EMC) & enzyme-modified dairy ingredients (EMDI). The advantages of microbial lipases over animal and plant lipases are also driving the market growth. The use of microbial lipases is growing in cleaning agents, dairy products, bakery products, confectionery products, and animal feed due to its extracellular lipase production, low-cost extraction method, and the effective use of batch fermentation. Owing to these factors, microbial lipases are gaining importance in these segments. However, the lack of transparency in the patent protection laws of lipase in several countries and absence of uniform regulatory structure restrain the microbial lipase market growth.
“The confectionery products segment is projected to grow at the highest CAGR between 2018 and 2023.”
The confectionery products segment is projected to grow at the highest CAGR from 2018 to 2023, by application, in the microbial lipase market, in terms of value and volume. The confectionery manufacturers are extensively using microbial lipases in the production of confections, as they help in breaking down fats and in rendering a creamy and cheesy flavor to the products. This has led to increased demand for microbial lipases in the confectionery products segment.
The fungal lipase is projected to be the fastest-growing, in terms of value and volume, in the microbial lipase market from 2018 to 2023.
The demand for fungal lipases is increasing across the globe, especially in developing countries such as China, India, and Brazil. The increase in the use of microbial lipases is attributed to its high potential in manufacturing various applications such as food additives, flavor modification, wastewater treatment, in cosmetics for removal of lipids, in the pulp & paper industry to remove the pitch from the pulp. Thus, fungi are considered to be a good source of microbial lipases, owing to their extracellular lipase production, low-cost extraction method, and the effective use of batch fermentation. Due to these factors, fungal microbial lipases dominated the market, and it is projected to be the fastest-growing in the microbial lipase market from 2018 to 2023.
“Asia Pacific to dominate the microbial lipase market throughout the studied period.”
The Asia Pacific region dominated the market for microbial lipases, owing to the increase in consumption of dairy products by the population in the region, which has fueled the growth of the processed dairy products industry in the region. Further, due to increase in concern about greater hygiene, increase in awareness of personal hygiene, and growth in concern regarding the spread of infectious diseases, the market for microbial lipases in the cleaning agents segment is projected to grow in this region.
Break-up of Primaries:
By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
By Designation: C-level Executives - 35%, Directors - 55%, and Others* - 10%
By Region: North America - 35%, Europe - 25%, Asia Pacific - 23%, South America - 10%, and RoW** - 7%
*Others include sales managers, marketing managers, and product managers.
**RoW includes Africa and the Middle East.
The leading players in the microbial lipase market are Novozymes (Denmark), DSM (Netherlands), Chr. Hansen (Denmark), Amano Enzymes (Japan), Associated British Foods (UK), DowDuPont (US), Advanced Enzymes (India), Enzyme Development Corporation (US), Aumgene Biosciences (India), Biocatalysts (UK), Meito Sangyo Co., Ltd (Japan), and Creative Enzymes (US).
The microbial lipase market is segmented on the basis of application, form, source, and key regions. On the basis of application, the microbial lipase market is segmented into cleaning agents, animal feed, dairy products, bakery products, confectionery products, and others (biofuel and pulp & paper). The form is segmented into powder and liquid. On the basis of source, the market is segmented into fungi and bacteria. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, South America, and Rest of the World (RoW). The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, market share analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
To get a comprehensive overview of the microbial lipase market with specific reference to the application markets
To gain a wide range of information about the top players in this industry, their product portfolios, and key strategies adopted by them
To gain insights of the major regions/countries in which the microbial lipase market is flourishing
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