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Industrial Enzymes Market worth 6.2 Billion USD by 2020
The report “Industrial Enzymes Market by Type (Carbohydrases, Proteases, Non-starch Polysaccharides & Others), Application (Food & Beverage, Cleaning Agents, Animal Feed & Others), Brands & by Region - Global Trends and Forecasts to 2020”, analyzes the industrial enzymes market, which is segmented based on the type, application, brand and region. The industrial enzymes market, based on types, includes carbohydrases, proteases, non-starch polysaccharides, and others. The industrial enzymes market, based on application, is segmented into food & beverage, cleaning agents, animal feed, and others. The report includes the driving and restraining factors of the market with detailed analysis of opportunities and challenges. The market has been segmented on the basis of the key regions — North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The size of the markets in the key countries has also been covered and projected for each region.
Browse 79 tables and 57 figures spread through 166 Pages and in-depth TOC on "Industrial Enzymes Market by Type (Carbohydrases, Proteases, Non-starch Polysaccharides & Others), Application (Food & Beverage, Cleaning Agents, Animal Feed & Others), Brands & by Region - Global Trends and Forecasts to 2020"
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The industrial enzymes market was valued at USD 4.2 Billion in 2014 and is projected to grow at a CAGR of 7.0% from 2015 to 2020. The market for food & beverage projected to reach a value of USD 2.0 Billion by 2020. The food & beverage segment dominated the industrial enzymes market. The driving factors for industrial enzymes market are increase in investments, research and developments of industrial enzymes, increase in demand of consumer goods and biofuel, and the need for cost reduction and resource optimization in the production process. The market for industrial enzymes is projected to reach USD 6.2 Billion by 2020, growing at a CAGR of 7.0% from 2015 to 2020.
With the increase in per capita income, the expenditure on food products, detergents, and beverages has increased which resulted in an increase in the demand of industrial enzymes. These factors provide opportunities for emerging market players. Different regulatory structures and lack of transparency in protection laws are the major restraining factors for the market.
The global industrial enzymes market is segmented on basis of application. The applications considered for the research are food & beverage, cleaning agents, animal feed, and others. Types of industrial enzymes are also classified in the segmentation. By type, the carbohydrases segment accounted for a share of 31.7% in 2014 and is projected to reach USD 2.0 billion.
The industrial enzymes market is a competitive market with key market players undertaking strategic decisions of new product developments, expansions, and investments to maintain their position in the industrial enzymes market. The leading players are involved in the research & development of various innovative enzyme products to attain majority market share. The key players in this market are BASF SE (Germany), E.I. du Pont de Nemours and Company (U.S.), Associated British Foods plc (U.K.), Koninklijke DSM N.V (The Netherlands), and Novozymes A/S (Germany).
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