Market Research Report on Industrial Enzymes Market
RAIPUR, INDIA, November 22, 2017 /EINPresswire.com/ —
Report Sellers has added a new market research report “Industrial Enzymes Market- Forecasts from 2017 to 2022” to its offerings. The report is an in-depth market study providing accurate market insights including the latest trends, forecast, competitive insights, etc.
According to the report, Industrial Enzymes market is projected to witness a CAGR of 6.92% to reach US$8.536 billion by 2022, increasing from US$6.107 billion in 2017.
Booming processed food and beverage industry is augmenting the demand for industrial enzymes to enhance the products texture, taste, and flavor. Rising demand for cosmetics and personal care products due to growing global aging population and awareness are contributing to the global industrial enzymes market growth.
Growing consciousness concerning good health and fitness is leading to the high demand for nutraceuticals which will bolster the growth of digestive and nutritional enzymes, thereby positively impacting the industrial enzymes market growth over the next five years. Furthermore, the demand for enzymes will intensify during the forecast period owing to increasing application in animal feed products to boost digestibility and nutritional value of the feed.
Competitive Insights: Prominent key market players in Industrial Enzymes market include Novozymes, DuPont, BASF, and DSM among others. The global industrial enzymes industry is competitive owing to the presence of a considerable number of global market players. To maintain their position and gain bigger market share, key players are engaged in growth strategies including high investment in R&D, new product launches, and strategic collaborations and partnerships. In October 2016, BASF launched Lavergy, a new enzyme product line, for detergents and cleaning industry.
Browse through the complete description and in-depth TOC on “Industrial Enzymes Market”
Industrial Enzymes market is segmented by product, source, end use industry, and geography:
By End Use Industries
Food and Beverage
Paper and Pulp
Europe Middle East and Africa
Middle East and Africa
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Source: EIN Presswire