Albany, NY -- (SBWIRE) -- 08/27/2018 -- Industrial enzymes are enzymes that are commercially used in a variety of industries such as pharmaceuticals, chemical production, biofuels, food & beverage, and consumer products.
The carbohydrases, proteases, polymerases & nucleases, Lipase, phytase are the types of enzymes used in manufacturing of industrial enzymes. The carbohydrases is expected to drive the industrial enzymes market during the forecast period. Carbohydrases and proteases are widely used various applications such as food & beverages, household and cleaning products. The demand for phytase is high due to its use in animal feeds. Enzymes like phospholipase and lipase are commonly used for biofuel production. With the increasing demand for biofuel, the demand for industrial enzymes like lipase and phospholipase also increase simultaneously. The increase in the life styles of the people and high income are the reasons for driving the industrial enzymes market.
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The global industrial enzymes market can be classified according to the applications such as food & beverages, household & personal care, animal feeds, bio-energy and others. The food and beverages segment is expected to drive the industrial enzymes market during the forecast period. The food and beverages segment have the largest share in 2016 followed by the personal & household care. But bio-energy is anticipated to be the fastest growing among all due to the unconditional support from the government for the environment friendly products. The market of industrial enzymes for animal feed will remains stagnant due to the slow growth.
Global Industrial Enzymes Market: Regional Outlook
North America held the largest share of the global Industrial enzymes market in 2016 in terms of consumption. Growth of the region is primarily ascribed to the increase in the demand from consumer base and food industries in the region. Europe also held a large share of the global industrial enzymes market in terms of production of industrial enzymes in 2016 and is expected to further grow during the forecast period. Asia Pacific is expected to be the fastest growing due increasing population, expanding food & beverage industry, positive economic outlook, expanding middle class population, government initiatives supporting investment in biotechnology. The global market share of North America, Europe and Asia Pacific is expected to increase at a high CAGR during the forecast period, while the global market share of Latin America and Middle East and Africa is expected to increase at a slow pace during the forecast period.
This report analyzes and forecasts the market for industrial enzymes at the global and regional level. The market has been forecast based on volume (Tons) and revenue (US$ Mn) from 2017 to 2025, considering 2016 as the base year. The study includes drivers and restraints of the global industrial enzymes market. It also covers impact of these drivers and restraints on demand for industrial enzymes market during the forecast period. The report also highlights opportunities in the industrial enzymes market at the global and regional level.
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Companies Mentioned in Report
The report comprises profiles of major companies operating in the global industrial enzymes market. Key players operating in the global industrial enzymes market include, Chr. Hansen, Novozymes A/S, Novus International Inc, E.I. du Pont de Nemours and Company, Advanced Enzyme Technologies Ltd, Zytex (India) Pvt Ltd. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
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