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Global industrial enzymes market: 5% growth witnessed between 2011-2012

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Global Industrial Enzymes Market Report: 2013 Edition - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-14 13:15:02
Industrial enzymes are catalysts that speed up chemical reactions and are used in wide variety of industries such as household care, bioenergy, animal feed, food and beverages, biopharmaceuticals, wastewater, textiles, pulp and paper.

The global market for industrial enzymes was immune to the global financial turmoil in 2008-2009 and grew by 5% in 2012 compared to previous year. Demand for enzymes in matured economies such as the US, Western Europe, Japan and Canada was relatively stable during recent times, while developing economies of Asia-Pacific, Middle East and Africa emerged as the fastest growing markets. The US and Europe collectively command a major share of worldwide industrial enzymes market.

Proteases constitute the largest product segment in industrial enzymes market, with carbohydrases and lipases considered as the fastest growing segments. Increased demand for various specialty enzymes like polymerases and nucleases coupled with the robust growth in animal feed market is likely to steer growth of industrial enzymes. Demand for enzymes for producing cellulosic bioethanol and other bio-based chemicals will comprise a major portion of industrial enzyme usage in the near future.

Further, constant technological advancements and innovations will also help to widen the diversity of usages of enzymes. Industrial enzyme manufacturers operate in an oligopolistic market with three major suppliers contributing majority share of global sales in 2012. Novozymes is the market leader and is considered as the only pure play enzyme player.

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