Some of the drivers behind the growing demand of global industrial Enzymes market include increase in demand of consumer goods, surge in demand for biofuel, increase research and development investment of industrial enzymes, and need of cost reduction and resource optimization in the production process of bakery products, animal feed, cleaning agents and others. With the increase in disposable income, the expenditure on consumer goods has increased, which resulted in an increase in demand of industrial enzymes globally. According to the National Bureau of Statistics of China, the annual per capita disposable income of urban households in China increased from $2,271.0 in 2008 to $3,408.5 in 2012. The overall annual disposable income in medium households in India increased from $1,366.2 billion in 2010 to $1,587.6 billion in 2013.
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Industrial enzymes can be used in several environmental friendly industrial purposes, as they are highly efficient, selective, accelerate and speed up reactions by forming transition state complex with their substrate, which reduces the activation energy of the reaction. Hence, industrial enzymes are utilized as a catalyst to accelerate the rate of chemical reactions and increase the production process. These enzymes are utilized for several industrial and chemical applications such as animal feed, bakery, tannery, biofuel production, brewing and others.
Based on type, the global industrial enzymes market is segmented into carbohydrases, protease, non-starch polysaccharides (NSP), and others. Based on application, the global industrial enzymes market is segmented into food and beverages, cleaning agents, animal feed, and others.
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Global Industrial Enzymes Market Segmentation
By Industrial Enzyme Type...