The industrial enzymes market is projected to grow at a CAGR of 9.74% over the forecast period, from US$7.504 billion in 2024 to US$11.945 billion by 2029.
Enzymes are a type of protein that helps speed up metabolism and other important chemical reactions in the body. Industrial enzymes are produced commercially for various industries, such as food & beverages, pharmaceuticals, biofuels, and chemical production. In the industrial landscape, various types of enzymes are used to produce various products, such as lipase, horseradish peroxidase, and urease, among many others.
One of the major driving factors of the global industrial enzymes market is the increase in the demand for food and beverage products. The increasing global population constantly pushes the need for food and beverages worldwide.
The World Bank stated that the global population, which accounted for about 7.89 billion in 2021, increased significantly to about 7.95 billion in 2022 and about 8.02 billion in 2023. This constant increase in the world population will surely increase the demand for food and beverages, pushing the demand for industrial enzymes.
The industrial enzymes market is projected to rise at a significant growth rate, owing to the growing demand for renewable and sustainable products. These enzymes help in catalyzing chemical reactions and making them beneficial in various industries such as textile, paper and pulp, biofuel production, food and beverage, and pharmaceutical, among others. Additionally, in the projected period, the demand for enzymes will grow in the food and beverage segment. This is owing to the rising demand for processed and convenience foods and increasing demand for clean-label and natural ingredients.
The global pharma and drug industry has witnessed a significant increase that can be credited to the increase in the global healthcare infrastructure and the rise in the cases of various diseases. The Observatory of Economic Complexity stated that the global pharmaceutical products, which accounted for about US$804 billion of total trade in 2021, increased massively to about US$835 billion in 2022. In this global trade of pharmaceutical products, countries like Germany, Switzerland, Ireland, and the USA are among the biggest traders of the products.
The food and Beverage (F&B) industry is one of the largest consumers of enzymes. These enzymes are used in F&B for applications such as vegetable and fruit processing, cheese processing, and oil and fats processing, among others. Additionally, sectors such as dairy, baking, and brewery are some of the major sectors using enzymes. The growing food and beverage industry in the country is expected to fuel the market in the coming years. For instance, according to the United States Department of Agriculture, Economic Research Services, the food service and food retailing industry supplied about US$2.11 trillion worth of food in 2021, which increased to US$2.39 trillion in 2022. Of this total, food services supplied food worth US$1.16 trillion in 2021 and US$1.34 trillion in 2022.
Moreover, the demand for enzymes is increasing in the animal feed industry as well, owing to the rising demand for meat. These enzymes help strengthen the digestibility of contemporary animal feed and help improve the feed-to-grain ratio. The increasing meat demand in the country is expected to propel the market in the coming years. For instance, according to the Organization for Economic and Co-Operation Development, the per capita consumption of poultry meat in 2029 in the United States is expected to reach 50.9 kilograms per person. Hence, as the application of enzymes increases in end-use industries, the market is expected to expand in the coming years.
The biofuel industry is also one of the major consumers of industrial enzymes. With the growing need for biofuel and the rising concentration of manufacturers to produce biofuel, the enzyme market is expected to boost in the coming years. For instance, according to the U.S. Energy Information Administration (EIA), in 2022, 18.70 billion gallons of biofuel were produced in the United States, of which 17.6 billion was consumed by the country and the remaining 1.0 billion gallons were exported. Fuel ethanol was the highest produced with 15.36 billion gallons, followed by biodiesel, which was 1.62 billion gallons in production; renewable diesel and other biofuels were produced at 1.50 and 0.20 billion gallons, respectively. Therefore, in the coming years, the growing biofuels market is anticipated to have a positive impact on the industrial enzymes market.
Enzymes are a type of protein that helps speed up metabolism and other important chemical reactions in the body. Industrial enzymes are produced commercially for various industries, such as food & beverages, pharmaceuticals, biofuels, and chemical production. In the industrial landscape, various types of enzymes are used to produce various products, such as lipase, horseradish peroxidase, and urease, among many others.
One of the major driving factors of the global industrial enzymes market is the increase in the demand for food and beverage products. The increasing global population constantly pushes the need for food and beverages worldwide.
The World Bank stated that the global population, which accounted for about 7.89 billion in 2021, increased significantly to about 7.95 billion in 2022 and about 8.02 billion in 2023. This constant increase in the world population will surely increase the demand for food and beverages, pushing the demand for industrial enzymes.
The industrial enzymes market is projected to rise at a significant growth rate, owing to the growing demand for renewable and sustainable products. These enzymes help in catalyzing chemical reactions and making them beneficial in various industries such as textile, paper and pulp, biofuel production, food and beverage, and pharmaceutical, among others. Additionally, in the projected period, the demand for enzymes will grow in the food and beverage segment. This is owing to the rising demand for processed and convenience foods and increasing demand for clean-label and natural ingredients.
INDUSTRIAL ENZYMES MARKET DRIVERS:
The increase in the global pharma product landscape is expected to bolster the demand for the industrial enzymes market globally.
In drugs and medicine, various types of enzymes like papain, alteplase, lysozyme, and lipase. These enzymes help in the cure and reduction of various cases like anti-inflammatory, lower cholesterol, and others. The rise in the global drug and pharma industry is expected to boost the global demand for industrial enzymes in the market.The global pharma and drug industry has witnessed a significant increase that can be credited to the increase in the global healthcare infrastructure and the rise in the cases of various diseases. The Observatory of Economic Complexity stated that the global pharmaceutical products, which accounted for about US$804 billion of total trade in 2021, increased massively to about US$835 billion in 2022. In this global trade of pharmaceutical products, countries like Germany, Switzerland, Ireland, and the USA are among the biggest traders of the products.
Industrial Enzymes Market Geographical Outlook
The United States is predicted to contribute significantly to market growth
The United States market for industrial enzymes is anticipated to grow in the coming years, owing to factors such as a favorable business environment for enzyme manufacturers and users. Additionally, the well-established food and beverage industry, coupled with the rising biofuel production in the country, is anticipated to positively impact the industrial enzymes market in the projected period.The food and Beverage (F&B) industry is one of the largest consumers of enzymes. These enzymes are used in F&B for applications such as vegetable and fruit processing, cheese processing, and oil and fats processing, among others. Additionally, sectors such as dairy, baking, and brewery are some of the major sectors using enzymes. The growing food and beverage industry in the country is expected to fuel the market in the coming years. For instance, according to the United States Department of Agriculture, Economic Research Services, the food service and food retailing industry supplied about US$2.11 trillion worth of food in 2021, which increased to US$2.39 trillion in 2022. Of this total, food services supplied food worth US$1.16 trillion in 2021 and US$1.34 trillion in 2022.
Moreover, the demand for enzymes is increasing in the animal feed industry as well, owing to the rising demand for meat. These enzymes help strengthen the digestibility of contemporary animal feed and help improve the feed-to-grain ratio. The increasing meat demand in the country is expected to propel the market in the coming years. For instance, according to the Organization for Economic and Co-Operation Development, the per capita consumption of poultry meat in 2029 in the United States is expected to reach 50.9 kilograms per person. Hence, as the application of enzymes increases in end-use industries, the market is expected to expand in the coming years.
The biofuel industry is also one of the major consumers of industrial enzymes. With the growing need for biofuel and the rising concentration of manufacturers to produce biofuel, the enzyme market is expected to boost in the coming years. For instance, according to the U.S. Energy Information Administration (EIA), in 2022, 18.70 billion gallons of biofuel were produced in the United States, of which 17.6 billion was consumed by the country and the remaining 1.0 billion gallons were exported. Fuel ethanol was the highest produced with 15.36 billion gallons, followed by biodiesel, which was 1.62 billion gallons in production; renewable diesel and other biofuels were produced at 1.50 and 0.20 billion gallons, respectively. Therefore, in the coming years, the growing biofuels market is anticipated to have a positive impact on the industrial enzymes market.
Industrial Enzymes Market Key Players:
- Nature BioScience Pvt. Ltd.- Nature BioScience Pvt. Ltd. is a renowned enzyme manufacturer that produces enzymes for various end-user industries, such as pharmaceutical, food, and textile. The company has two research and development centers in Delhi and Rajasthan, where the blending and production occur. Both these centers are compliant with GMP Guidelines.
- Novozymes- Novozymes, the company headquartered in Bagsværd, Denmark, is one of the leaders in manufacturing bio-solutions and producing industrial enzymes and microorganisms. The company is interested in R&D. In 2022, it recorded a revenue of US$2.6 billion and reinvested 11% of the revenue on research and development. The company has more than 6,700 employees, is present in more than 33 countries, and caters to more than 30 industries.
- ABF Ingredients, Ltd.- ABF Ingredients, Ltd. is part of Associated British Foods (ABF). The company manufactures innovative ingredients that have found applications in various industries, such as health and nutrition, animal health, pharmaceuticals, and food. The company has the highest level of certification, from ISO to Pharma GMP.
Market Segmentation:
The Industrial Enzymes Market is segmented and analyzed as below:
By Product
- Lipase
- Nuclease
- Carbohydrase
- Polymerase
- Others
By Source
- Animal
- Plant
- Microorganism
- Algae
By End-User Industry
- Food and Beverage
- Paper and Pulp
- Cosmetics
- Pharmaceutical
- Wastewater
- Animal Feed
- Others
By Geography
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- France
- United Kingdom
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- India
- China
- Japan
- South Korea
- Others
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. INDUSTRIAL ENZYMES MARKET BY PRODUCT
6. INDUSTRIAL ENZYMES MARKET BY SOURCE
7. INDUSTRIAL ENZYMES MARKET BY END-USER INDUSTRY
8. INDUSTRIAL ENZYMES MARKET BY GEOGRAPHY
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
10. COMPANY PROFILES
Companies Mentioned
- Nature BioScience Pvt. Ltd.
- DuPon t de Nemours, Inc.
- Novozymes
- BASF SE
- DSM -Firmenich AG
- ABF Ingredients, Ltd. (AB Enzymes)
- Amano Enzyme Inc.
- Infinita Biotech Pvt. Ltd.
- Ginkgo Bioworks
- Enzyme Bioscience
- Thermo Fisher Scientific Inc.
- LIVZYM Biotechnologies
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | July 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 7.5 Billion |
| Forecasted Market Value ( USD | $ 11.95 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
