The Asia Pacific Industrial Enzymes Market would witness market growth of 7.6% CAGR during the forecast period (2023-2030).
The increasing production of meat in the Asia Pacific region, notably in China, is expected to result in a major increase in the need for industrial enzymes. The growing use of enzymes in manufacturing is also a result of the expanding industrial innovations in these regions. To meet the expanding market demands, businesses are also creating new enzymes and production methods. The market expansion in this region is being driven by an increase in demand for protease and carbohydrase enzymes in food and medicinal applications.
Environmental and sustainability issues have an impact on the market. Less energy is required, less waste is produced, and milder reaction conditions are just a few advantages enzymes have over conventional chemical catalysts. Since enzymes biodegrade, they pose less risk to the environment and human health. As a result, various sectors increasingly resort to enzymes as a greener option to conventional chemical processes, supporting the expansion of the market.
Vietnam's output of hogs and poultry has increased the fastest compared to that of the rest of the region, and the nation is anticipated to continue to be Southeast Asia's top pig producer for the foreseeable future, reaching 3.3 million mmt by 2028. The region continues to see an increase in the adoption of Western diets, as shown in the rising demand for bread goods, dairy products, and beverages. Therefore, the region presents lucrative growth prospects for the growth of the market.
The China market dominated the Asia Pacific Industrial Enzymes Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $902 million by 2030. The Japan market is poised to grow at a CAGR of 6.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 8.3% during (2023 - 2030).
Based on Application, the market is segmented into Food & Beverages, Detergents, Animal Feed, Biofuels, Textiles, Pulp & Paper, Personal Care & Cosmetics, Wastewater, Agriculture, and Others. Based on Source, the market is segmented into Microorganisms, Plants, and Animals. Based on Product, the market is segmented into Carbohydrase, Proteases, Lipases, Polymerases & Nucleases, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Industrial Enzymes Market is Projected to reach USD 11.2 Billion by 2030, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novozymes A/S (Novo Holdings A/S), DuPont de Nemours, Inc., Koninklijke DSM N.V., Chr. Hansen Holding A/S, Creative Enzymes, BASF SE, Kerry Group PLC, Associated British Foods PLC (Wittington Investments Limited), Amano Enzyme, Inc., and Megazyme Ltd. (Neogen Corporation)
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