The global industrial enzymes market is estimated to be valued at USD 6.6 billion in 2021. It is projected to reach USD 9.1 billion by 2026, recording a CAGR of 6.6% during the forecast period. New technical applications of enzymes are being developed to enhance the production processes. Numerous companies in the textile industry incorporate enzymes as an alternative to chemicals to produce mild reactions that lead to clean and chemical-free garments. Gene modification in the existing enzyme has resulted in significant developments to enable enzymes to be functional under altering temperatures and pH levels.
Liquid enzymes offer the potential to completely replace the use of chemicals in wastewater treatment, as enzymes can break down the organic matter faster and make the water treatment process more efficient due to the lack of chemicals. The usage of liquid enzymes has been bolstering the wastewater treatment industry. Many developed countries from the Middle Eastern and North African regions having water scarcity issues have been using liquid enzymes in the wastewater treatment process.
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Polymerases & nucleases have been grouped as they both work on nucleic acid polymers, such as ribonucleic acid (RNA) and deoxyribonucleic acid (DNA), and are commonly used in similar applications. These types of enzymes catalyze the synthesis of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) polymers, as they are essential for all nucleic acid processing, including replication, repair, recombination, and transcription. The core structure and properties of polymerases are highly conserved through evolutions, as they function in coordination with several other proteins to synthesize nucleic acids in an accurate, efficient, and well-regulated manner.
According to a study published by the United States Department of Agriculture (USDA) in 2018, the North American population spends almost 14% of their household expenditure on food. This resulted in food & beverage manufacturers incline toward increasing the shelf-life of various products, which would augment the demand for food enzymes in the North American region. According to the US Department of Health & Human Services, “From 1999–2000 through 2017–2018, the prevalence of obesity increased from 30.5% to 42.4%, and the prevalence of severe obesity increased from 4.7% to 9.2%.” The growing demand for clean-label and natural ingredients in the region is likely to drive its use in food applications in the US, Canada, and Mexico. Industrial enzymes used for baking, fats & oil processing, and dairy are likely to drive the growth of the market.
Key players in this market include DuPont (US), Associated British Foods plc (UK), DSM (Netherlands), Novozymes (US), CHr. Hansen Holdings A/S (Denmark), and Kerry Group (Ireland).
