Industrial Enzymes Market 2024 Trend, Marketing Channels and Investment Feasibility

Industrial Enzymes Industry

The global industrial enzymes market size is expected to reach USD 11.42 billion by 2030, expanding at 6.4% CAGR from 2024 to 2030, as per a new report by Grand View Research, Inc. This is due to the growing demand for industrial enzymes in several applications such as animal feed, food & beverage, and nutraceutical. Increasing consumer awareness about health has resulted in the growing use of functional food products, which is expected to trigger product demand in the coming years.

Microorganisms are rapidly becoming a key source of enzymes, owing to their low production costs and easy availability of raw materials. End-use industries rely heavily on enzymes derived from microorganisms as they can be used to make a wide range of products. This, in turn, is anticipated to positively impact the demand for the industrial enzymes industry.

The demand is projected to be positively impacted over the forecast period by the rising consumption of functional food products due to the growing awareness of a person's health. Cellulose and amylase are the two subtypes of carbohydrate. It is frequently utilized as a component in the creation of carbonated beverages. Increased use of various types of carbohydrase in the pharmaceutical and animal feed industries would further increase demand for industrial enzymes in the coming years.

The COVID-19 pandemic had a positive impact on various end-use industries around the world, causing a supply-demand gap. The demand for the product in biofuel and textiles was moderately impacted by a demand-supply gap combined with the global lockdown of the automotive industry. However, the market experienced positive demand during the pandemic due to the increased adoption of enzymes in various industries such as animal feed, food, and cleaning products.

Gather more insights about the market drivers, restrains and growth of the Global Industrial Enzymes market

Industrial Enzymes Market Segments Highlights:

The food and beverage segment dominated the market with the highest revenue share of 21.05% in 2023
The carbohydrase segment dominated the market with the highest revenue share of 48.34% in 2023
The food and beverage segment dominated the market with the highest revenue share of 21.05% in 2023
North America dominated the market with the highest revenue share of 37.65% in 2023
Companies such as BASF SE, DuPont Danisco, Novus International., and Associated British Foods plc dominate the global market with their extensive presence throughout the value chain. The market is highly competitive with companies engaged in increasing their production capacity along with enhancing regional presence

Industrial Enzymes Market Report Segmentation

Grand View Research has segmented the global industrial enzymes market report based on product, source, application, and region

Industrial Enzymes Product Outlook (Revenue, USD Million, 2018 - 2030)