Northbrook, IL 60062 -- (SBWIRE) -- 06/08/2023 -- The global industrial enzymes market is projected to grow from USD 7.4 billion in 2023 to USD 10.2 billion by 2028. This represents a compound annual growth rate (CAGR) of 6.6% during the forecast period.

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Industrial enzymes are gaining importance due to their exceptional efficiency. These catalysts can accelerate chemical reactions without being consumed themselves. They operate under mild conditions, such as low temperatures and pH levels, reducing energy requirements and costs. This increased efficiency leads to improved productivity and shorter production cycles, allowing businesses to optimize their operations and maximize output.

Enzymes are also valued for their specificity and selectivity in industrial applications. They can target and catalyze specific reactions, ensuring precise control over desired chemical transformations. This specificity improves product quality, purity, and consistency, benefiting industries like food and beverages and textiles. Enzymes enable these industries to meet stringent regulatory standards and customer expectations.

The feed application of industrial enzymes is driving market growth due to the need for improving nutrition. Feed enzymes play a crucial role in developing advanced animal diets that precisely target specific dietary components. With a growing global population and increasing demand for animal protein, feed ingredients' availability and pricing are subject to fluctuations. Enzymes offer a cost-effective solution by optimizing the utilization of accessible feed resources, reducing costs, and mitigating wastage in animal protein production.

In 2023, microorganism enzymes are expected to be a driving force in the industrial enzymes market. These enzymes are versatile and adaptable, making them highly desirable in various industries such as food and beverage, pharmaceuticals, textiles, biofuels, and agriculture. They can be engineered and modified to target specific substrates and perform a wide range of enzymatic reactions. Through genetic engineering techniques, microorganism enzymes can exhibit superior performance characteristics, meeting the precise needs of specific industrial applications and processes.

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South America is witnessing growth in the industrial enzymes market due to government support. The region's abundant agricultural resources, including crops like corn, sugarcane, soybeans, and cassava, can be efficiently utilized with the help of industrial enzymes. Enzymes are used in biofuel production, maximizing resource utilization and minimizing waste generation, aligning with the region's goals of resource optimization and value addition. Government policies and regulations that promote sustainable technologies, including industrial enzymes, are driving the demand for enzymes in South America.

Key players in the industrial enzymes market include BASF, Novozymes, DuPont, DSM, Associated British Foods plc, Kerry Group plc, Advanced Enzyme Technologies, Chr. Hansen Holding A/S, Amano Enzyme Inc., and Aumgene Biosciences Pvt. Ltd.

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