Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8 Billion | USD 12 Billion | 5.2% | 2022 |
FrequentlyAsked Questions
Industrial enzymes are kinds of enzymes that are commercially utilized in various end-use industries including biofuels, pharmaceuticals, consumer perishable products, food & beverages, and chemical production. Due to breakthroughs in current years, bio-catalysis through isolated enzymes is more cost-effective in comparison to complete cells or tissues.
The global industrial enzymes market growth over forecast period can be owing to a surge in industrialization as well as breakthroughs in the nutraceutical sector.
According to a study, the global industrial enzymes industry size was $8 billion in 2022 and is projected to reach $12 billion by the end of 2030.
The global industrial enzymes market is anticipated to record a CAGR of nearly 5.2% from 2023 to 2030.
The European continent is set to dominate the global industrial enzymes industry over the forecasting timeline owing to the growing focus of the EU on reducing GHG emissions along with the promotion of biofuel production in countries such as Germany, the UK, and France in Europe. Rise in the meat production in countries such as Russia will steer the industry growth in Europe.
The global industrial enzymes market is led by players such as Chr. Hansen Holding A/S, BASF SE, Lesaffre, Novozyme A/S, DuPont Danisco Corporation, Royal DSM SE, Advanced Enzyme Technologies, Novus International, Associated British Foods plc, Adisseo, and Enzyme Development Corporation.
The global industrial enzymes market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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