Industrial Enzymes Market: Trend, Forecast, Opportunity

The industrial enzymes market is estimated to be valued at USD 5.9 billion in 2020 and is projected to reach USD 8.7 billion by 2026, recording a CAGR of 6.5%, in terms of value. The growing environmental concerns and enzyme quality in food & beverages and feed, and the rising demand for bioethanol are factors that are projected to drive the growth of the industrial enzymes market globally.

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Market Dynamics

Drivers: Growing Environmental Concerns and Increasing Demand for Bioethanol

The depletion of non-renewable resources has increased the need for and importance of manufacturing bioethanol, which has a negligible impact on the environment. In countries with surplus agricultural capacity, ethanol produced from biomass can be used as a substitute, extender, or octane booster as an alternative for traditional motor fuels, such as gasoline, diesel, and kerosene. Bioethanol is prepared from agricultural waste containing corn stalks, leaves, bagasse of sugarcane, sugar beet, sorghum stalks, wheat, barley, rye, and by-products, such as whey from cheese making and potato processing waste streams. Toxic oxygenates in petroleum fuels can be replaced with biofuels, which also help in reducing pollution. The increase in demand for bioethanol has resulted in increased usage of enzymes, such as carbohydrases, lipases, and proteases, which are used for the production of bioethanol. Amylases are expected to be the major contributors in the bioethanol enzymes market due to their ability to sustain at a comprehensive range of temperatures and pH levels.

Opportunities: Demand for an Alternative to Synthetic Chemicals

Enzymes are recognized as alternatives to traditional chemicals and provide solutions to problems related to synthetic chemicals. Synthetic chemicals used in industrial processes pose a threat to the environment as they are harmful. Enzymes such as carbohydrases, which are derived from plants and microorganisms, have no negative impact on the environment as they work under mild conditions, thus reducing energy consumption and decreasing greenhouse gas emissions. Carbohydrases derived from plants and microorganisms are utilized in the textile, starch processing, and bioethanol production industries. The leather industry has switched to proteases and trypsin over lime and sulfides to obtain high yields with cleaner products.

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