India Enzymes Market to Register a CAGR of 8.67% During the Forecast Period through 2028
Increasing demand from various industries and changing lifestyles
& improving dietary patterns is driving the India Enzymes Market in the
forecast period, 2023-2028.
According to TechSci Research report, “India Enzymes Market – By Region, Competition, Forecast and Opportunities, 2018-2028”, the India Enzymes Market stood at USD 390.68 million in 2022 and is
expected to grow at a CAGR of 8.67% during the forecast period. The nation's
advances in food technology and growing consumer awareness of higher-quality
products manufactured with the aid of enzymes are driving the industry. To
invest at the Kundl/Schaftenau Campus in Austria, BASF and Sandoz GmbH, a
division of Novartis, signed a contract in April 2021. Through this
partnership, BASF can expand its capacity for producing enzymes and
biotechnology goods which are expected to drive the India enzymes market. Enzymes
are utilized in the processed food industry as well as the growing domestic
demand for processed foods, the market is growing swiftly. In India, there is
also a growing desire for foods and beverages that are rich in nutrients and
thus driving the overall market demand, of overall market. It is anticipated
that changing food habits and altered lifestyles will affect consumer demand.
The extraction, clarification, and filtering of fruit and vegetable juices
using food enzymes is also a common practice that is boosting the industry. Furthermore,
to improve protein digestion, researchers are using innovative techniques to
synthesize these enzymes naturally. Additionally, the increasing use of proteases
in detergents coupled with the growing use in animal feed is projected to drive
the growth of enzymes market in India in the coming years. Besides
that, when
handling concentrated enzyme preparations as with most substances used in
industrial processes, care should be taken to avoid skin contact and inhalation
of aerosols. These factors will pose a threat to India enzymes market.
Browse over 31 market
data Figures spread through 70 Pages and an in-depth TOC on "India Enzymes Market"
The India enzymes market is
segmented by type, source, application, region, and company.
Based on type, the market is
divided into amylases, cellulases, proteases, lipases, and phytases. Amylases
dominated the market because of their widespread applications in various
industries, with a share of 35.47% in the year 2022. Proteases showed
a substantial rise and are expected to
register a CAGR of 9.13% during the forecast period as they play a crucial role
in the brewing of beer. Proteases are added to wort during the brewing or
distilling process to help break down proteins and release more peptides and/or
amino acids, which enhances the fermentation process and the final product's
quality. Based on source, the market is divided into micro-organisms, plants, and
animals. Microbial enzymes have found several applications in the various
sectors of food industry including dairy, baking, food processing and
packaging, animal feed, fruit and vegetable juice, beverage, oil refinery, and
confectionery. Based on end user, the market is divided into food & beverages,
cleaning agents, animal feed, biofuel, and others. Cleaning agents exhibits a
significant increase, registering a CAGR of 8.92%. Enzymes are used in detergents to offer
a higher level of stain removal, whiteness, fabric, and color care, as well as
general cleaning performance.
Major companies operating
in India enzymes market are:
- Rossari Biotech Ltd
- Novozymes South Asia Pvt. Ltd.
- Advanced Enzyme Technologies Ltd.
- Lumis
Biotech Pvt. Ltd.
- Anthem Biosciences Pvt. Ltd.
- Tex Biosciences (P) Limited
- Noor Enzymes Private Limited
- Fruzyme Biotech India Private Limited
- Fermenta Biotech Limited
- Caprienzymes Technology Private Limited
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“The India enzymes market is expected to
witness steady growth during the forecast period due to the emerging trend of healthy food, switch
toward renewable sources, and demand for natural substitutes for synthetic
chemicals further increase the application of enzymes as an alternative to
fossil fuels. Moreover,
the rising demand for foods with
natural flavor and taste that are of the highest quality has become a
widespread trend among consumers nowadays. This tendency made it necessary to
use industrial enzyme applications to generate flavored and delectable
processed foods. These factors will create lucrative opportunities for the
market growth during the forecast period “said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“India Enzymes Market, By Type (Amylases, Cellulases, Proteases, Lipases,
Phytases and Others), By Source (Micro-Organisms, Plants, and Animals), By
Application (Food & Beverages, Cleaning Agents, Animal Feed, Biofuel, and
Others), By Company and By Geography, Forecast & Opportunities, 2028’’, has evaluated the future growth
potential of India enzymes and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in India Enzymes
market.
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