Rising Textile Production Expected to Boost Industrial Enzyme Sales to Over $9 Billion by 2032

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Rising Consumption of Packaged Foods and Beverages to Position the Industrial Enzyme Market at US$6.17 billion in 2022

An in-depth study by Fact.MR on the industrial enzymes The market offers an in-depth analysis of the driving factors from 2022 to 2032. The survey reveals key trends and opportunities increasing sales in 5 regions. It also highlights the sales prospects of industrial enzymes in the market based on product type, application, and end use.

NEW YORK, June 14, 2022 /PRNewswire/ — Demand in the global industrial enzymes market is expected to be estimated at approximately US$6.17 billion in 2022. Due to increasing advancements in technologies such as genetic engineering and the growing adoption of sustainable and renewable chemical alternatives, sales of industrial enzymes are expected to exceed US$9 billion by 2032.

The demand for textile products such as garments and protective clothing is increasing, owing to the increase in spending in clothing trends. To capitalize on these trends, major textile manufacturers are investing in expanding production capacity.

For example, in 2019, Pallavaa Group, a major textile manufacturer in Indiaannounced to invest approximately US$65 million for the expansion of weaving, spinning and knitting capacity in Tamil Nadu, India. As industrial enzymes are widely used in textile processing, such developments are expected to accelerate sales in the years to come.

Hence, the industrial enzymes market is expected to grow at a CAGR of 3.9% during the forecast period, compared to the CAGR of 2.9% recorded between 2017 and 2021.

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As the consumption of high quality packaged foods with natural flavors and tastes continues to increase, the demand for enzymes such as proteases and lipase enzymes is increasing in the food industry.

Additionally, the use of dairy enzymes is increasing with the introduction of new processed food and beverage products, which in turn are expected to boost the sales of industrial enzymes in the market.

Key points to remember:

  • The United States is expected to continue to dominate the market in North Americagrowing at a CAGR of 3.6% between 2022 and 2032.
  • Sales of industrial enzymes in the UK are expected to increase due to the growing consumption of packaged and processed food and drink products.
  • China is expected to emerge as a highly lucrative market for industrial enzymes, projecting sales growth at a CAGR of 4.8% through 2032.
  • The demand in India should grow at a steady pace, helping Asia Pacific will account for approximately 36.6% of global sales by 2022.
  • Based on end-use, the food and beverage industry is expected to account for 24.9% of total global market demand share through 2022.

Growth drivers:

  • The shift in preference towards the adoption of biofuels, due to rising prices of petroleum products, will boost the sales of industrial enzymes for the production of biofuels.
  • The increasing application of carbohydrases in the food industry in the preparation of fruit drinks, wine and dairy products is expected to boost the sales of industrial enzymes.

Constraints:

  • The high cost of industrial enzymes and high sensitivity to pH and temperature could limit sales.
  • Side effects associated with the use of proteases such as diarrhea, nausea, and vomiting, among others, are hampering the demand in the protease segment.

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Competitive Landscape:

Major industrial players of enzymes are adopting advanced technologies to improve their product quality and increase their revenue share through initiatives such as partnerships, mergers and acquisitions.

For instance,

  • In 2021, Novozymes, a global biotechnology company announced a partnership with a leading pharmaceutical ingredient manufacturer, Novo Nordisk Pharmatech, to develop high-quality engineered enzymes for the development of biopharmaceutical solutions.

Top Companies Featured by Fact.MR

  • AB enzymes
  • Advanced Enzyme Technologies
  • Amano Enzyme Inc.
  • BASF SE
  • Biocatalysts
  • BioRessource International Inc.

More valuable information about Industrial enzymes Market

In its recent study, Fact.MR reveals the factors influencing the growth of the Global Industrial Enzymes Market over the assessment period. The study also offers compelling insights into key drivers creating growth opportunities in the Industrial Enzymes market through detailed segmentation as follows:

Industrial Enzymes Market by Product Type:

  • Carbohydrases
  • Proteases
  • Lipases
  • Other types of products

Industrial Enzymes Market by Application:

  • Technical
  • Food additives
  • food preparation

Industrial Enzymes Market by End Use:

  • Food and drinks
  • Detergents
  • animal feed
  • Personal care and cosmetics
  • Nutraceuticals
  • textiles
  • Other end uses

Industrial Enzymes Market by Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Key questions addressed in the Industrial enzymes Market report

  • What is the estimated revenue of the industrial enzymes market during the forecast period?
  • What are the challenges faced in the industrial enzymes market?
  • Which region is estimated to show the fastest growth rate in the global industrial enzymes market in 2022-2032?
  • What is the projected market valuation of the industrial enzymes market in 2022?
  • What are the factors driving industrial enzymes in 2022-2032?
  • What is the expected growth rate of the industrial enzymes market to 2032?

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