The Industrial Enzymes market growth is hampered by the COVID-19 pandemic as lockdowns, social distances and, the shutdown of production plants globally have impacted the automotive industry, which in turn, impacted the biofuel industry. The biofuels industry has been strongly impacted by the Covid‑19 pandemic. Global transport biofuel production in 2020 is aound 144 billion liters, equivalent to 2,480 thousand barrels per day (kb/d), an 11.6% drop from 2019’s record output and the first reduction in annual production in two decades thus creating a negative impact on industrial enzymes market.

- Over the medium term, the major factors driving the growth of the industrial enzymes market are the growing diversity in enzyme applications such as food and beverage, pharmaceuticals, detergents, cosmetics, and other industries. Also, the growing demand for enzymes due to increasing environmental norms and regulations regarding the use of chemicals is likely to boost the market growth of industrial enzymes.

- New product innovations and expansions of application bases are anticipated to provide numerous opportunities over the forecast period.

- North America dominated the market, with the largest consumption, but Asia-Pacific is likely to register the highest CAGR through the forecast period.

Key Market Trends

Growing Demand from Food Processing Applications

- Food processing dominates the industrial enzymes market with a total share of more than 35%. This is the fastest growing application segment, mainly supported by the ever-growing global population and its increasing purchasing power. Health awareness is also a factor for people‘s increasing demand for food quality, safer production processing, and improved nutritional value.

- The increasing demand for higher quality foods in terms of natural flavor and taste has become a common trend among present consumers. This trend triggered the need for the development of flavored and tasty processed foods using industrial enzymes applications. These enzymes act as catalysts by playing important roles in the breaking down of vitamins and nutrients in the metabolic reactions and inter-conversion of complex molecules to smaller molecules.

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- Food enzymes, such as amylase, cellulase, xylanase, pectinase, protease, lipase, glucosyltransferase, arabinanase, polygalacturonanace, chymosin, and beta-glucanase among others, have become an essential part of the global food additives industry.

- The food industry is continuously involved in developing new dairy products, beverages, and food items for consumers. With the development of new products in the food and beverage industry, the application of enzymes in the industry has continuously increased.

- With the increased innovation and development of technologies in the food industry, industrial enzymes have found extensive application in the fat modification and sweetener technology, thereby driving the industrial enzymes market.

- The global revenue of the Food and Beverage industry is projected to reach USD 276.9 billion in 2021 from USD 240 billion in 2020 and estimated to register a CAGR of more than 8% during the period 2021-2025.

- All the aforementioned factors are expected to increase the market demand for industrial enzymes, during the forecast period.

North America to Dominate the Market

- North America has the highest share, accounting for more than 30% of the global market.

- The United States occupies the top position in the global industrial enzymes market. The country has the largest revenue share, globally, owing largely to beverage and biofuel production. Increasing demand for craft beer is likely to be responsible for the growth of the industrial enzymes market.

- Food processing application has dominated the United States industrial enzymes market, accounting for
more than half of the total market share, in 2019. The United States revenue in the Food & Beverages segment is projected to reach USD 21,320 million in 2021 witnessing a rise by around 14% from 2020.

- Mexico is expected to grow at the highest rate in the North American market, owing to growing mergers and acquisitions in the detergent and food processing industry, to meet the demand in the country.

- In Canada, Dairy products are majorly responsible for the demand of industrial enzymes. With the Industrie 2030 strategy, along with the government’s interest in fostering business investment, the manufacturing sector is expected to grow in the country, which, in turn, is likely to drive the demand for industrial enzymes.

- The high consumption in the United States industries is correlated with awareness regarding green technologies addressing environmental issues, enhanced productivity, and better product value, thus leading to growth in research and development sector, as well as in industries using enzymes.

Competitive Landscape

The market studied is dominated by the top five players, namely, Novozymes, DuPont, Royal DSM, AB Enzymes, and BASF, accounting for about 75% of the total market. Other recognized players in the market are Amano Enzymes, Biocatalysts, BioResource International Inc., Chr. Hansen Holding AS, Enzyme Development Corporation, Lesaffre, and others.

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