Latin America Industrial Enzymes Market size was around USD 0.62 Billion in 2022 It is expected to grow at a CAGR of 5% to reach USD 0.79 Billion by 2027 It captures approximately 12% of the global market.
Numerous industrial processes prefer enzymes because they accelerate chemical reactions while being selective and efficient and to some extent are environment-friendly. Industrial Enzymes industry is in a phase of emergence. Emerging and dynamic industries like pharmaceuticals, food processing and biofuels are widely using enzymes and they have been integral to innovations in household care, textiles, pulp and paper processing markets.Rising disposable incomes in emerging economies, rise in demand for biofuel, growth in demand for consumer products, advancements in R&D activities for industrial enzymes and multi-functionality of industrial enzymes are the primary factors driving the growth of this market. Resource optimization and enhanced focus on cost reduction are the secondary factors driving the growth of this market.Safety and quality of the product for customer acceptance, regulatory concerns in various industries and volatility in industrial production are the primary factors hindering the growth of this market.
by Type
by Application
by source
Industrial Enzymes market is segmented
Amylases
Cellulases
Proteases
Lipases
Phytases
Proteases is the most commonly used industrial enzymes because of its wider application areas such as beverage, food, detergents, and pharmaceuticals. The demand for cellulases is increasing, because of its increase in industrial application of biofuels.
On the basis of the application
Food & beverages
Cleaning agent
Animal feed
on the basis of source
microorganism
plant
animal
The demand for microorganisms worldwide is on the rise when compared to that for plants & animals, because of their predictable and controllable enzyme content. Factors such as the presence of harmful materials in plants & animals and reliable supplies of microbes also drive the demand for the microorganism segment.
Regional Analysis
Brazil
Chile
Argentina
BASF SE (Germany),
E.I. du Pont de Nemours and Company (U.S.),
Associated British Foods plc (U.K.),
Koninklijke DSM N.V. (Netherlands),
Novozymes A/S (Denmark).
Dyadic International Inc. (U.S.),
Advanced Enzyme Technologies Ltd (India),
Adisseo (China),
Chr. Hansen Holding A/S (Denmark),
Amano Enzyme Inc. (Japan).
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