Industrial Enzymes Market - Growth, Share, Trends and Forecasts (2017 - 2022)
Industrial Enzymes Market
The market was valued at USD 4.94 billion in 2015 and is expected to grow at a CAGR of 6%, during the forecast period, to reach USD 6.99 billion by 2021. North America and Asia-Pacific constitute the largest markets, with almost 62% of the global share.
The industry is going through a phase of emergence, as well as, maturation in various segments. Enzymes are being widely used in emerging and dynamic industries like biofuels, pharmaceuticals, and food processing, while they have been instrumental in better product innovations in the markets like household care, textiles, pulp and paper processing, etc.
Enzymes are preferred in various industrial processes as they accelerate chemical reactions while being selective and efficient, as well as, environment-friendly, in most cases. The industrial enzymes market is driven by the increasing diversity in enzyme applications and niche products, growing demand from industries in emerging economies, and stringent environmental norms curbing the use of chemicals. However, the growth of the market is hindered by various factors, including concerns regarding safety and quality of the product for customer acceptance, volatility in industrial production, regulatory concerns in various industries, etc.
The global industrial enzymes market is segmented by type and application. By type, the market is segmented into carbohydrases (amylases, cellulases, and others), proteases, lipases, and others. By application, the market is segmented into food processing (dairy applications, bakery applications, brewing applications, and others), detergents & cleaners, pharmaceuticals, textiles, cosmetics, leather processing, pulp & paper, animal feed, etc.
Geographically, the global industrial enzymes market is segmented into North America (the US, Canada, Mexico, and Rest of North America), Europe (France, Germany, Italy, the UK, Russia, the Nordic Countries, The Netherlands, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, ASEAN Countries, and Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and the Middle-East & Africa (Saudi Arabia, South Africa, Qatar, UAE, and Rest of the Middle-East & Africa).
Global Industrial Enzymes Market, By Region, 2015
Opportunities and Market Players
New product innovations & expansion of application base and untapped regional markets are expected to offer numerous opportunities for the growth of global industrial enzymes market. Some of the major companies and vendors in the market include:
The top three players - Novozymes, DuPont, and DSM; together account for almost 74% of the global market. Other important players in the market are Cargill Incorporated, Dyadic International, Inc., Maps Enzymes Ltd., and Advanced Enzymes.
Key Deliverables in the Study
Market analysis for the global industrial enzymes market, with region specific assessments and competition analysis on a global and regional scale.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global industrial enzymes market on both global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
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