Tuesday, April 13, 2021

Essential Oils Market: Growth Opportunities and Recent Developments

The report "Essential Oils Market by Type (Orange, Lemon, Lime, Peppermint, Citronella, and Others), Application (Food & Beverage, Cosmetics & Toiletries, Aromatherapy, Home Care, Health Care), Method of Extraction, and Region – Global Forecast to 2026", The global essential oils market size is estimated to be valued USD 10.3 billion in 2021 and is expected to reach a value of USD 16.0 billion by 2026, growing at a CAGR of 9.3% in terms of value during the forecast period. In terms of volume, the essential oils market is estimated to account for 253.2 KT in 2021 and is expected to reach at 345.4 KT by 2026, growing at a CAGR of 6.4% during the forecast period. Factors such as a growth in awareness toward preventive healthcare, a rise in demand for essential oils in food products with extended shelf life, along an increase in demand for essential oils in cosmetic applications are some of the factors driving the growth of the essential oils market.



Report Objectives:
  • To define, segment, and estimate the size of the essential oil market with respect to its type, application, method of extraction, and region
  • To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the complete value chain and influence of all key stakeholders, such as manufacturers, suppliers, and end users.
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To profile the key players and comprehensively analyze their core competencies
  • To analyze the competitive developments, such as new product launches, acquisitions, joint ventures, in the essential oils market

Market Dynamics:

Driver: Increase in demand for aromatherapy

Aromatherapy can be defined as the use of essential oils for healing and cosmetic purposes. Essential oils benefit the physiological as well as psychological activity simultaneously in the body, owing to which they are largely used in aromatherapy. Until recently, aromatherapy was considered a complementary therapy; however, it is currently considered a mainstream therapy. The increased demand for aromatherapy could be attributed to several factors, the most important being the general rise in income in the past decade. As incomes have increased, the consumers’ tastes and preferences have also shifted toward more sophisticated products. According to the International Spa Association (ISPA), spa visits have been growing each year. According to the 2019 US Spa Industry Study, the spa industry witnessed an increase across the board in key performance metrics. The spa industry once again set records in total revenue, spa visits, spa locations, revenue per visit and total employees in 2018. Total spa revenues were USD 18.3 billion, a 4.7% increase from the USD 17.5 billion in 2017. The spa visits were up 1.6% to 190 million in 2018. The spa locations rose to 22,160, a 1.8% jump from the 21,770 in 2017 in the US. The revenue per visit climbed to USD 96.50, a 3% rise from 2017.

Restraint: Depletion of natural resources

A healthy ecosystem provides a range of benefits that acts as the foundation of human well-being. Plants are an essential part of this ecosystem as they balance the world by providing food and shelter. They also assist in physiological and psychological well-being through their therapeutic products such as essential oils. However, this source is exhausting gradually. This could be attributed to an increase in population and industrialization that has resulted in deforestation.

With the increased population, an increasing number of trees are cut to accommodate the increased number of people. According to The World Counts, “up to 28,000 species can go extinct in the next quarter-century due to deforestation. 13 million hectares of forest have been converted for other uses or destroyed by natural causes.

Food & beverage, by application, is estimated to account for the largest market share during the forecast period

Food & beverage account for the largest market size during the forecast period. Essential oils are identified for their health benefits, as they are natural ingredients that impart the essence of the source they have been derived from. They are used in food & beverages for imparting flavor to the final products, as substitutes to synthetic ingredients. As consumers are becoming increasingly aware of the health benefits of essential oils, the preferences for food & beverage products with these oils as additives has increased.


Asia Pacific is estimated to hold the largest market share during the forecast period

Asia Pacific accounted for the largest share during the forecast period due to the growing demand for meat and meat products in developing and developing countries such as China, India, and South Korea. The USDA is of the view that factors such as increasing disposable income, increase in population, and rapid urbanization have significantly aided in the growth of the market in this region. With the westernization of diets in the various countries in Asia Pacific, the demand for better quality meat has been growing which calls for the need to improve the overall health and productivity of livestock species which further drives the growth of the essential oils market.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the essential oils market. It consists of the profiles of leading companies such Cargill, Inc. (US), DuPont (US), Koninklijke DSM N.V. (Netherlands), dôTERRA International LLC (US), Givaudan SA (Switzerland), Young Living Essential Oils (US), The Lebermuth Company, Inc. (US), Symrise (Germany), Sensient Technologies Corporation (US), Essential oils of New Zealand (New Zealand), Firmenich SA (Switzerland), International Flavors & Fragrances Inc. (US), Mane (France), ROBERTET SA (France), Rocky Mountain Oils LLC (US), BIOLANDES SAS (France), Falcon (India), Farroti (Italy), Indian Essential Oils (India), and Ungerer Limited (UK).

Functional Proteins Market to Witness Unprecedented Growth in Coming Years

The report "Functional Proteins Market by Type (Whey Protein Concentrates, Isolates, Hydrolysates, Casein, Soy Protein), Source (Animal, Plant), Form (Dry, Liquid), Application and Region – Trends and Forecast to 2025", According to MarketsandMarkets, the global functional proteins market size is estimated to be valued at USD 4.6 billion in 2020 and projected to reach USD 6.1 billion by 2025, recording a CAGR of 5.6% during the forecast period.



The demand for functional proteins is increasing significantly owing to the shift in consumers’ food-related preferences and rising prevalence of chronic diseases. Rising health awareness and increase in disposable income across the globe are key factors that are driving the growth of the functional proteins market. The millennial population is capturing a large share of the market as the ongoing health and wellness trend ergo the surging internet penetration is altering consumer preferences and moving towards adapting protein-infused functional foods into their diets in order to maintain quality of life.

Report Objectives:
  • Determining and projecting the size of the functional proteins market, with respect to type, application, form, source, and regional markets, over a five-year period, ranging from 2020 to 2025
  • Identifying the attractive opportunities in the market by determining the largest and fastest-growing segments across the region
  • Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • Providing the regulatory framework for major countries related to the functional proteins market
  • Analyzing the micro-markets, with respect to individual growth trends, prospects, and their contribution to the total market

Opportunities: Shift toward plant-based products

The market for plant proteins is growing at a high rate as consumers are drifting away from animal proteins to plant-based protein. Increasing shifts to veganism, environment sustainability and animal compassion are the key factors cumulatively leading to demand of plant-based proteins as an alternative functional ingredient. Thus, the plant-based protein market is expected to witness high demand and surging growth rate, presenting number of opportunities for expansion and investment in the functional proteins market.

Challenges: Consumer skepticism associated with off-taste of functional proteins

Although functional proteins provide multiple health benefits and streamline the diet, they have an off-putting taste which might not be preferred by some consumers. This factor poses a challenge for the functional proteins industry as aversion towards taste of products is a difficult bar to overcome. Also, the unawareness among rural and semi-urban consumers about functional proteins and the lack of education regarding the same discourages key players from investing. Due to this challenge, manufacturers are focusing on developing different formulations of proteins, with rigorous R&D to mitigate the aversion of consuming functional food and beverages.

North America is projected to account for the largest market during the forecast period

North America is projected to dominate the market during the forecast period owing to the high prevalence of chronic diseases in countries such as the US. Whey protein concentrates are gaining traction as consumers are shifting to dairy proteins to fulfil their nutritional requirements. Emerging markets in economies such as the Asia Pacific countries are going to be potential markets for the functional protein manufacturers.


Key Market Players:

Key players in this market include ADM (US), DuPont (US), Cargill (US), Ingredion (US), Arla Foods (UK), Roquette (France), BASF (Germany), Glanbia (Ireland), Fonterra (New Zealand), DSM (Netherlands), FrieslandCampina (Netherlands), Essentia Protein Solutions (UK), Amai Proteins (Israel), Mycorena (Sweden), Merit Functional Foods (Canada), Plantible Foods (US), BENEO (Germany), ProtiFarm (Gelderland), Omega Protein (US).

Recent Developments:
  • December 2020, Cargill expanded its European ingredient portfolio with the addition of pea protein. This product launch enabled Cargill to get access to the pea protein market.
  • November 2020, Ingredion acquired Verdient Foods (Vanscoy, SK) with 100% ownership. The acquisition enabled net sales growth and expanded the manufacturing capability of Ingredion, with the addition of two manufacturing facilities in Canada.
  • September 2020, ADM expanded their protein portfolio with textured wheat and pea proteins. These high-functionality proteins improve the meat-like texture of alternative meats. This new launch ensured ADM’s leadership in the plant protein market.

Wheat Protein Market to Record Steady Growth by 2026

The global wheat protein market is estimated to be valued at USD 2.4 billion in 2021 and is projected to reach USD 3.1 billion by 2026, recording a CAGR of 5.0%. The market has been largely driven by the growing demand for bakery products, the increasing popularity of plant-based foods, wheat protein being a suitable alternative for non-animal protein among vegans coupled with nutritional benefits for lactose-intolerant consumers.


Market Dynamics

Driver: Nutritional benefits for lactose intolerant and health- & fitness-conscious consumers

The Lactose intolerance is defined as a condition whereby, the body cannot easily digest lactose, which is a type of natural sugar found in milk and other dairy products. Although some people having a lactose intolerance issue are able to digest whey protein isolates, without any severe repercussions, others find it easier to digest only plant-based proteins. Although whey protein isolates are further processed and filtered to help eliminate more lactose in comparison to whey protein concentrates, any individual with even a mild intolerance towards lactose should avoid the consumption of these products. In such cases, plant-based alternatives stand as the most suitable option, for those looking to increase protein intake, for health or training purposes. A number of plant-based alternatives, which could be used in place of whey proteins include pea protein isolates, brown rice protein, or wheat protein.


Restraints: Increasing discussion on gluten intolerance and gluten-free diets

Gluten intolerance or the Celiac disease is an autoimmune disorder, which damages the small intestine lining and prevents the absorption of nutrients from consumed food items. This damage is majorly a reaction to eating foods with gluten, a type of wheat protein which is also found in barley, rye, and oats. However, some individuals may also experience discomfort in their stomach despite not having the Celiac disease. Amylase-trypsin-inhibitors or ATIs, are a group of proteins found in wheat, which could trigger an immune response, and contribute to the development of non-celiac gluten sensitivity (NCGS).

By application, pet food segment is projected to be the fastest-growing segment in the market during the forecast period.

The growing expenditure on pet food products along with pet humanization in economies such as India and the US is expected to drive the market growth in the pet food segment. Changing consumer preferences driven by awareness toward meat sourcing practices, its ecological impact, and animal-borne diseases have led to more consumers opting out of meat consumption. The resulting change has led to consumer demand shifting from conventional animal-based proteins to plant-based alternatives.

By form, dry segment is projected to dominate the market during the forecast period.

The dry form of processing of protein is used in the production of wheat protein isolates. It involves dry milling technology, which is used to reduce the particle size of raw material into fine particles. This method is used to process wheat, which is correlated to its specific tissue architecture and milling behavior. The process relies on differential particle size and density within the milled flour. Once milled, the air classification process is used to separate the smaller protein rice fragments from larger starch-rich granules or fiber-rich granules.


Europe is estimated to account for the largest share of the wheat protein market during the forecast period

In 2020, Europe is estimated to account for the largest share of the wheat protein market. Factors such as the growing investments by major players in the bakery industry, growing trend of vegan diets, and abundant availability raw materials such as wheat in this region have boosted the demand for wheat protein products in the European market. Furthermore, increased demand for bakery items such as cakes, pastries, and cookies will also drive the demand for wheat protein in the region.

This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as ADM (US), Cargill (US), Agrana (Austria), MGP Ingredients (US), Manildra Group (Australia), Roquette (France), Glico Nutrition (Japan), Crespel & Deiters (Germany), Kröner-Stärke (Germany), Tereos Syrol (France), CropEnergies (Germany), and Gluten y Almidones Industriales (Mexico), Batory Foods (US), Kerry Group (Ireland), BENEO (Germany), Agridient Inc (US), AMCO Proteins (US), Tate & Lyle (UK), and PureField Ingredients (US)

Benzenoid Market Projected to Garner Significant Revenues by 2025

The report "Benzenoid Market by Type (Benzyl Acetate, Benzoate, Chloride, Salicylate, Benzaldehyde, Cinnamyl, Vanillin), Application (Soaps & Detergents, Food & Beverage, Household Products), and Region – Global forecast to 2025", size is estimated to be USD 651 million in 2020 and is projected to reach USD 857 million by 2025, at a CAGR of 5.6% during the forecast period. The market is being strongly driven by soaps & detergents industry, which is witnesses a high demand. With newer premium products coming up in the market and unique fragrance blends, their demand is projected to grow in the market in the near future.


Report Objectives:
  • To describe and forecast the benzenoid chemicals market, in terms of type, application, and region
  • To describe and forecast the benzenoid chemicals market, in terms of value and volume, by region-Asia Pacific, Europe, North America, South America and Middle East & Africa-along with their respective countries
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To study the complete value chain of benzenoid chemicals market.
  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the benzenoid chemicals market

Benzenoid Chemicals Market Dynamics

Driver: Shifting flavor & fragrance trends and preferences amongst populations globally

The global choices and preferences related to taste and aromas are changing rapidly with changing marketing trends, mindsets and increasing expenditure on lifestyle. As per the 2018 report of “Innova Market Insights” 64% of US consumers state that they “love to discover flavors from other cultures,” Dull flavors are being reinvented and more retail products and restaurants are highlighting ethnic flavors or street flavors. Unique scents and attractive designs have pushed the home fragrance market to its strongest position yet. While over the years traditionally rooted fragrances like jasmine and sandalwood have had a distinct contribution, especially for soaps, a combination of fruity-floral fragrances are now gaining traction with marketers wooing younger consumers.

Restraint: Potential health risks of synthetic chemicals affecting production growth

The genotoxicity and carcinogenicity are the key factors that are taken into consideration to determine the safety of the chemical use. Companies that manufacture perfume or cologne purchase fragrance mixtures from fragrance houses to develop their own proprietary blends. Benzenoids as food additives and fragrance ingredients are regulated as some of them pose potential risks to human health at defined concentrations. Organisation such as US FDA (US Food & Drug Administration), EU Commission, IFRA (International Fragrance Association) set standards and guideline for manufacturers in order to control the possible health risks due to overuse of aroma chemicals in food and fragrance products.

The benzyl benzoate sub-segment is estimated to account for the fastest growth in the by type segment for Benzenoid Chemicals market.

Benzyl benzoate is naturally found in cinnamon, apricots, honey cocoa, cloves, cranberries jasmine, and mushrooms. RIFM (Research Institute for Fragrance Materials) has identified the compounds as a very weak skin sensitizer and IFRA (International Fragrance Association) has set standards for acceptable concentrations of benzyl benzoate that can be used in variety of consumer goods. It serves a supporting role, helping to dissolve and blend together all the different scent substances.

By Application, the soaps & detergents sub-segment is estimated to observe the fastest growth in Benzenoid Chemicals market.

The aroma in soaps and detergent products is bought about by the use many natural and synthetic compounds. The generally used natural compounds include oregano oil, lemon oil, coconut oil, camellia oil, and coffee essential oil amongst others. During the spread of coronavirus pandemic, the significance of soaps and detergents for hygiene purposes grew tremendously giving a boost to the sales of the industry. With organizations such as American Centers for Disease Control and Prevention (CDC), promoting hand hygiene through use of soaps and clean running water the market grew faster in the pandemic time.


Asia Pacific is estimated to be the largest market.

The Asia Pacific region is estimated to account for the largest share of the global benzenoids market in 2020. The rising income, purchasing power, rapid growth of the middle-class population, and consumer demand for processed products present promising prospects for growth and diversification in the region’s benzenoids sector. The European aroma chemicals manufacturers are gradually losing their market share, failing to compete with products from Asia (mainly from China), where labor costs are much lower and the quality control is constantly growing, imitating western technologies. Further, countries such as China, Japan, South Korea, and Indonesia are witnessing significant growth in the cosmetics, beauty, and personal care products markets. These rae expected to drice the growth from benzenoid chemiclas in the region.

Key players in this market include include major players such as BASF (Germany), Firmenich (Switzerland), Emerald Kalama Chemical (US), International Flavors & Fragrances, Inc. (US), Eternis Fine Chemicals (India), Symrise (France), Tennants Fine Chemicals Ltd. (England), Jayshree Aromatics Pvt. Ltd. (India), and Valtris Specialty Chemicals (US. These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

Monday, April 12, 2021

Food Encapsulation Market to Record Steady Growth by 2025

 The global food encapsulation market is estimated to account for USD 9.9 billion in 2020 and is projected to reach USD 14.1 billion by 2025, recording a CAGR of 7.5% during the forecast period. The market is primarily driven by the increasing use of encapsulated flavors in the food and beverage industry and the rising adoption of microencapsulation for functional ingredients.

The polysaccharides segment accounted for the largest share in the North American food encapsulation market in 2019.

The polysaccharides segment accounted for the largest market for shell material in 2018 and is projected to follow the same trend through 2025. Owing to their enormous molecular structure and ability to entrap bioactives, polysaccharides are considered the most-suitable building blocks for delivery systems. On the other hand, the market for the emulsifiers is projected to be the fastest-growing, owing to its ability to provide improved solubility and bioavailability.


The demand for encapsulated vitamins and minerals to remain high during the forecast period.

Vitamins are functional ingredients that are used in food, owing to their specific nutritional properties for varied human body parts. Thus, targeted and controlled release of vitamins often becomes important when added as a food ingredient. Thus, encapsulation is majorly adopted for vitamins for its targeted effect. Also, flavor manufacturers have been adopting this technology at a rapid speed, and hence, the vitamins segment was closely followed by flavors in terms of dominance in the global market.

The physical method of encapsulation is estimated to dominate the market globally for the food industry in 2020.

Food encapsulation demand is targeted by a few ingredient manufacturing companies. With the use of advanced technology, the price of the ingredient rises, and hence, manufacturers prefer low cost-efficient encapsulation methods. Thus, the physical methods are the most in-demand for the encapsulation of food ingredients.

The food encapsulation market in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2026.

Factors driving the growth of the Asia Pacific market include the increasing adoption of encapsulated flavors and colors in the beverage and premium food industry. With the rising awareness about the benefits of functional food and dietary supplements among consumers and rising disposable income, consumers have been willing to pay a premium price for value-added products. Thus, manufacturers have been grabbing this opportunity in countries such as China and India to expand their business in the encapsulation market. Also, small enterprises have been delivering generic encapsulated products in the market at competitive prices, which has been further boosting awareness.


Many domestic and global players provide food encapsulation of various ingredients across the world. Few players offer encapsulated ingredients, while few companies offer encapsulation as an extended service for their clients. Major players have their presence in the North American and European countries. Key players operating in this market include FrieslandCampina (Netherlands), DSM (Netherlands), Ingredion Incorporated (US), Kerry Group (Ireland), Cargill (US), Lycored Group (Israel), Balchem Corporation (US), Firmenich Incorporated (Switzerland), BASF SE (Germany), International Flavors and Fragrances Inc. (US), DuPont (US), Symrise AG (Germany), Sensient Technologies Corporation (US), Aveka Group (US), Advanced Bionutrition Corp (US), Encapsys (US), Tastetech Encapsulation Solutions (UK), Sphera Encapsulation (Italy), Clextral (France), and Vitasquare (Netherlands).

Recent Developments:
  • In July 2019, DSM (Netherlands) entered into a joint venture with Evonik (Germany) to produce encapsulated omega-3 fatty acids, reducing the pressure on fish stocks, and supporting the aquaculture industry.
  • In May 2017, Lycored (Israel) entered into a joint venture with a biotechnology company, Algatechnologies (Israel), to distribute Algatech's AstaPure in the form of beadlets, which will help in increasing the brand's commercial reach for this product range in the North American market.
  • In January 2017, DSM (Netherlands) launched a new product, MEG-3, with new encapsulation technology.

Upcoming Growth Trends in the Food & Beverage Metal Cans Market

 The report "Food & Beverage Metal Cans Market by Material (Aluminum and Steel), Type (2-Piece and 3-Piece), Degree of Internal Pressure (Pressurized Cans and Vacuum Cans), Application (Food and Beverages), and Region - Global Forecast to 2025",  According to MarketsandMarkets, the food & beverage metal cans market is estimated to be valued at USD 27.6 billion in 2020 and is projected to reach USD 37.0 billion by 2025, recording a CAGR of 6.1%. The rapid growth in awareness toward environmental sustainability and recyclable properties of metal cans are the driving factors for the food & beverage metal cans market. 

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By material, the aluminum segment is projected to account for the larger share in the food & beverage metal cans market

The aluminum segment is projected to dominate the market, on the basis of material, during the forecast period. This is attributed to the cost-effectiveness and recycling rates of aluminum. Increasing the use of metal packaging for food & beverages packaging provides a sustainable and environment-friendly solution for packaging in multiple applications. Aluminum cans are convenient to keep in refrigerators and ovens. Changes in consumer preferences are observed for food & beverage packaging. According to the Environmental Protection Agency of the United States (EPA), 1.9 million tons of aluminum packaging was generated for beers and soft drink cans, and 49.2% of aluminum beverage cans were recycled. The metal packaging for the food industry is considered to be safe, which is one of the major factors to support its growth in the market.

By application, the beverages segment accounted for the larger size in the food & beverage metal cans market during the forecast period

Based on the application, the food & beverage metal cans market is segmented into food and beverages. The beverage cans are estimated to account for the larger share, because of the high consumption of carbonated, non-carbonated, and sports & energy drinks. The rise in the consumption of alcoholic beverages leads to the growth of beverage cans market. Moreover, changes in consumer trends toward healthy drinks are driving the market for metal cans during the forecast period.

The Asia Pacific region is projected to witness the fastest growth during the forecast period

The Asia Pacific food & beverage metal cans market is projected to have higher growth potential in the coming years. A large consumer market and increasing disposable income in India and China are driving the growth of the demand for high-quality metal packaging. Also, China is the hub for the manufacture of metal cans and has sufficient manufacturing plants to meet the demand for food & beverage metal packaging. Moreover, rapid urbanization in countries such as India and China are expected to result in high growth of the food & beverage metal cans market in Southeast Asia during the forecast period.

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This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. It consists of the profiles of leading companies such as Crown Holdings, Inc (US), Ball Corporation (US), Silgan Holdings Inc. (US), Ardagh Group (Luxembourg), CAN-PACK S.A. (Poland), Kian Joo Group (Malaysia), CPMC Holdings Limited (China), Huber Packaging Group GmbH (Germany), CCL Industries (US), Toyo Seikan Group Holdings Ltd (Japan), Universal Can Corporation (Japan), Independent Can Company (US), Mauser Packaging Solution LLC (Germany), Visy (Australia), Lageen Food Packaging (Israel), Massilly Holding S.A.S (France), P. Wilkinson Containers Ltd. (UK), Unimpack (Netherlands), Müller und Bauer GmbH (Germany), and Allied Cans (Canada).

Recent Developments:
  • In April 2019, Crown Holdings, Inc. announced the launch of round and square shorter cans in the luxury packaging market. This will help the company to broaden its product portfolio.
  • In August 2019, Ball Corporation signed an agreement to sell its tinplate steel aerosol packaging facilities to Envases del Plata (Argentina), an Argentinian metal packaging company. This agreement will help the company to expand its reach in the South American region.
  • In October 2019, Ball Corporation announced the construction of its new aluminum cups manufacturing plant in Rome, Georgia to cater to the growing demand for beverage packaging in the US. This new plant will help the company expand its presence in the US region.
  • In July 2019, Ardagh Group launched a slimline 187 ml can particularly designed for protecting wine and wine-based drinks. This launch would help the company to expand its product portfolio.

Key Trends Shaping the Technical Enzymes Market

The global technical enzymes market size is projected to grow from USD 1.1 billion in 2019 to USD 1.5 billion by 2026, recording a compound annual growth rate (CAGR) of 4.0% during the forecast period. The increasing trend of environmental concerns in developing countries and advancements of R&D activities for technical enzymes are the major factors that are projected to drive the growth of this market during the forecast period.

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The microorganism source is projected to account for the largest share in the technical enzymes market during the forecast period.

Microorganisms are the primary source of technical enzymes, as they are cultured in large quantities in a short period, and genetic manipulations can be done on bacterial cells to enhance the enzyme production for usage in various industries such as biofuel, pulp & paper, textile & leather, and starch processing. Additionally, the microbial enzymes are preferred by the manufacturers due to their active and stable nature as compared to enzymes from plants and animals.

The liquid form is projected to account for a larger share in the technical enzymes market during the forecast period.

The liquid form of enzymes is widely used in the biofuel and textile & leather industries, due to better blending properties with the resources used for the production of biofuels. In biofuel, the liquid enzymes augment the supply of liquid fuel; whereas, in textiles, it offers the potential to completely replace the use of other chemicals in textile preparation processes. The enzymatic degreasing process replaces the solvent-based process followed by the leather manufacturers. Since the liquid enzymes interfere less with the skin structure, the enzymatic process also results in a product with improved quality. Due to these factors, the liquid form is projected to dominate the market during the forecast period.

North America is projected to account for the largest share in the technical enzymes market during the forecast period.

The North American market is projected to account for the largest share by 2025, due to various benefits of technical enzymes, as they are an environment-friendly and cost-effective alternative to replace the conventional alkaline or conventional acidic catalysts. Technological advancements have made technical enzymes available for a wide range of applications in biofuel, paper & pulp, textile & leather, starch processing, and other industries, which is estimated to drive the growth in the region. The North American region is estimated to be the largest market for technical enzymes, globally, owing to the development of novel and superior performing products, developed technologies, and global industrialization.

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Key vendors in the global technical enzymes market include BASF (Germany), DuPont (US), Associated British Foods (UK), Novozymes (Denmark), DSM (Netherlands), Dyadic International (US), Advanced Enzymes Technologies (India), Maps Enzymes (India), Epygen Labs (India), Megazyme (Ireland), Aumgene Biosciences (India), Enzymatic Deinking Technologies (US), Tex Biosciences (India), Denykem (UK), MetGen (Finland), and Creative Enzymes (US). These players have a broad industry coverage and high operational and financial strength.

Key questions addressed by the report:
  • Who are the major market players in the technical enzymes market?
  • What are the regional growth trends and the largest revenue-generating regions for the technical enzymes market?
  • What are the key regions and industries that are projected to witness significant growth in the technical enzymes market?
  • What are the major industries of technical enzymes that are projected to account for a major revenue share during the forecast period?
  • In which major forms are technical enzymes majorly used, and which form is projected to dominate during the forecast period?
  • What are the major sources of technical enzymes that are projected to account for a major revenue share during the forecast period?