Key Findings of the Global Industrial Enzymes Market | Technavio

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LONDON–(BUSINESS WIRE)–The latest market research report by Technavio on the global industrial enzymes market predicts a CAGR of close to 6% during the period 2018-2022.

The report segments the global industrial enzymes market by application (food and beverage, nutraceutical, animal feed, detergents, and personal care and cosmetics) and by geography (APAC, North America, Europe, and ROW). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global industrial enzymes market, according to Technavio chemicals and materials researchers:

  • Increasing demand for food enzymes: a major market driver
  • Recent advances in enzyme technology: emerging market trend
  • APAC dominated the global industrial enzymes market with 34% share in 2016

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Increasing demand for food enzymes: a major market driver

Food enzymes are extracted from micro-organisms using advanced technologies and impart anti-stale, digestive, and softening properties to food products. This increases the shelf-life of food products. Different enzymes are used for different products. For example, meat products, bakery, dairy, and frozen food products; oils and fats; confectioneries use enzymes such as protease, lipase, and carbohydrase. This keeps the nutritional content intact due to the complexities of the global food supply chain.

Food security and safety is increasing the demand for processed and packaged food products where enzymes play a vital role in preserving the products. Food enzymes have health and nutritional benefits, which is another reason for the increasing awareness among consumers. This resulted in the increasing adoption of food enzymes across numerous food applications including frozen food manufacturing industries and packaged food units.

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Recent advances in enzyme technology: emerging market trend

The industrial enzymes market can offer improved and cost-effective products owing to the significant progress in genetics and process technology. Genetic engineering enables the selection of host organisms and safe cultivation conditions. It involves the extensive use of enzymes with improved stability, specificity, and productivity, and through fermentation allows the production of naturally occurring enzymes in other organisms, in abundance.

According to a senior analyst at Technavio for research on bio-chemicals and bio-materials, “Enzymes originating from animals or plants can be produced independent of the supply of animal and plant tissues. For instance, Chymosin which is an active protease in calf rennin is produced with the help of enzymes that are found in minute concentrations in exotic microorganisms, which are often difficult to grow. However, they can also be produced by selecting a host microorganism which is easy to cultivate on inexpensive raw materials and producing a broth to ease the purification of enzymes.�

Global market opportunities

In terms of regional dominance, the APAC led the global industrial enzymes market, followed by North America, Europe, and ROW in 2017. Countries such as China and India are the leading contributors, owing to their population, towards the demand for food and beverages in APAC. Factors such as the growth of the gross domestic product (GDP) and increasing disposable income of people in the emerging economies of APAC, is driving the demand for industrial enzymes. This will propel APAC to become the fastest growing geographical segment during the forecast period.

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Jasmine Petters

Jasmine Petters

Jasmine hails from the city of Nizams, Hyderabad, and is currently pursuing her M.D. from there only. She is an internet wizard and has keen passion in All Things tech. She is a regular Comment contributor for The Daily Telescope and writes a Web column, in which she covers war, sports, and everything in between.
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