Improvement of Energy and Production Efficiency and Rapid Advancements in Protein Engineering to Support Revenue Growth of Industrial Enzymes Market: Reports and Data

Improvement of Energy and Production Efficiency and Rapid Advancements in Protein Engineering to Support Revenue Growth of Industrial Enzymes Market: Reports and Data

PR Newswire

NEW YORK, Jan. 13, 2022

Rapid developments in bioprocesses and protein engineering, increasing applications of industrial enzymes in various industrial products, and growing focus on improving production efficiency and reducing energy consumption are some key factors expected to drive market growth

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- Reports and Data has published its latest report titled "Industrial Enzymes Market, By Type (Carbohydrases, Lipases, Proteases, Polymerases & Nucleases, Others), By Source (Plant, Microorganism, Animal), By Form (Liquid, Dry), By Application, and By Region Forecast to 2028."

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According to the latest report by Reports and Data, the global industrial enzymes market size was USD 5.91 billion in 2020 and is expected to reach USD 9.77 Billion in 2028 and register a revenue CAGR of 6.4% during the forecast period, 2021-2028.

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Drivers, Restraints, and Opportunities

Enzymes are widely used in industrial applications such as in in the production of corn syrups, fuel ethanol, and sweeteners. Industrial enzymes include carbohydrases, proteases, lipases, and others. Industrial enzymes have been used to facilitate industrial processes and production of products and over the recent past, advancements in bioprocesses have made it possible to produce purified and well-characterized enzymes on a large scale. Increasing research and development activities have expanded application scope of industrial enzymes in industrial products and processes such as chemical, textile, detergent, leather, and pulp and paper industries and this is a key factor expected to drive market revenue growth over the forecast period. In addition, industrial enzymes speed up reactions and improve yield by increasing accessible precursors for downstream applications and this is expected to drive demand for industrial enzymes and contribute to revenue growth of over the forecast period.

Enzyme mediated processes have gained interest owing to reduced process time, low energy consumption, cost effective, non-toxic, and eco-friendly characteristics. Enzymes are biological molecules that are proteinaceous in nature and act as catalysts to support almost all chemical reactions. Enzymes are majorly used in processes such as baking, detergents, brewing, pharmaceuticals, and in leather processing industry, among others. Over the recent years, advancements in protein engineering and site-directed evolution have enabled production of enzymes that are tailor-made enzymes with new attributes for new process conditions. Hydrolases such as proteases and lipases, amylases, carbohydrases, polymerases, and proteases, among others are some major industrial enzymes. A large share of enzyme products are manufactured using recombinant microorganisms and recent developments in recombinant DNA technology have further expanded application scope of industrial enzymes. Current commercial use of industrial enzymes have resulted in significant saving of crucial resources such as raw materials, energy and water consumption, and improvement of energy efficacy of industrial processes.

Increasing application of industrial enzymes in animal feed industry, in cookies and biscuits, and in food and beverage processing and growing focus on biotechnology-based approaches to production of industrial enzymes are some other key factors are some other key factors expected to contribute to revenue growth of the market going ahead. However, high costs associated with raw materials and changes in enzyme pH due to temperature variations are some key factors expected to limit adoption of industrial enzymes and restrain market growth to a certain extent over the forecast period.

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COVID-19 Impact Analysis

Carbohydrases Segment to Account for Significant Revenue Share:

Carbohydrases segment is expected to account for a significantly large revenue share over the forecast period attributable to increasing application of carbohydrases in food & beverages, textiles, bioethanol, and other end-use industries owing to numerous benefits such as cost-effectiveness, rapid reaction time, and easy process optimization.

Microorganism Segment to Support Revenue Growth:

Microorganism segment is expected to register significant revenue growth over the forecast period attributable to increasing use of microbial enzymes in industries, rapid progress in development of industrial enzymes using fungal cell factories, growing application of microorganisms for the production of enzymes, wine, bread, and other products.

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North America to Lead Terms in Revenue Share:

North America is expected to account for largest revenue share in the global market over the forecast period attributable to increasing use of industrial enzymes in production of bakery products, food & beverage industry, and in pharmaceuticals, rising investment by key companies to advanced enzyme production, and presence of key market players in the region.

Asia Pacific Market Revenue to Expand Steadily:

Asia Pacific market revenue is expected to expand at a steady revenue growth rate during the forecast period attributable to rapid industrialization, development of food & pharmaceutical sectors, increasing investment to scale-up production of industrial enzymes, and advancements in biotechnology sector.

Major Companies in the Market Include:

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Market Segmentation:

For the purpose of this report, Reports and Data has segmented global industrial enzymes market based on type, source, form, application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

Source Outlook (Revenue, USD Billion; 2018-2028)

Form Outlook (Revenue, USD Billion; 2018-2028)

Application Outlook (Revenue, USD Billion; 2018-2028)

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Regional Outlook (Revenue, USD Billion; 2018-2028)

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