Albany, NY -- (SBWire) -- 04/27/2018 --Companies in the global industrial enzymes market largely consider adopting a variety of strategies to gain a firm foothold in this intensely competitive landscape. Developing innovative products is one of the key strategies adopted by top players, in a move to consolidate their shares, finds Transparency Market Research (TMR). In addition, several players are exploring promising opportunities in untapped markets in various regions to strengthen their foothold in the market. A number of prominent players in recent years have entered into strategic partnership deals for developing novel products by leveraging cutting-edge technology platforms, in order to meet the emerging needs of various end-use industries, observes TMR. Furthermore, an increasing number of players are fortifying collaborations in order to scale the production of industrial enzymes and gain a competitive edge over their rivals.
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Some of the leading players operating in the market include Koninklijke DSM N.V., Advanced Enzyme Technologies Ltd., E.I.du Pont de Nemours and Company, AB Enzymes GmbH, Associated British Foods (ABF) plc., Novus International Inc., Codexis Inc., Novozymes A/S, and Chr. Hansen A/S.
Bustling with several promising opportunities, the global industrial enzymes market is prognosticated to expand at a CAGR of 8.8% from 2017 to 2025 and touch a valuation of US$12,844.4 million by the end of the forecast period. The market was worth US$6,067.4 million in 2016.
The various types of industrial enzymes can be categorized into phytases, carbohydrases, proteases, polymerases and nucleases, lipases, and other types. Carbohydrases and proteases segments jointly account for the leading share in the market, attributed to their extensive uptake in industries such as food and beverages and animal feed.
On geographic front, North America held the leading market share in 2016, fueled largely by sizeable investment in food and beverages industry. However, Asia Pacific is anticipated to rise at the most promising CAGR growth over the forecast period. The growth is driven by a burgeoning demand in several developing economies such as India and China.
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Widespread Application in Food and Beverages Processing to Accentuate Market
The industrial enzymes market is driven primarily by the substantially rising adoption of these in the food and beverages processing. The striking strides experienced by the food and beverages industry in various parts of the world is boosting the market. The proliferating demand for enzymes in various industrial processes is supported by a burgeoning worldwide population with vast rise in their disposal incomes. The market is expected to immensely benefit from several government initiatives to boost the adoption of biofuels in developing and developed nations.
The surge in demand for these industrial enzymes in the pharmaceutical industry is accentuating the growth of the market. The use of industrial enzymes in producing high-quality cost-effective products for the food and beverages industry leading to economy in large-scale processing of food. This is a noteworthy factor catalyzing the growth of the market. Remarkable advances made in the field of biotechnology, notably in protein engineering methods, assisted by the use of high-throughput screening techniques are aiding in the rapid expansion of the market.
Industrial Enzymes Market Analysis, Latest Trends and Regional Growth 2025