Microbial Lipase Market Scenario
Microbial Lipase Market has registered substantial growth over the last few years. The increasing consumer awareness regarding the advantages of microbial lipase over plant or animal-based lipase is anticipated to propel the growth of microbial lipase industry during the forecast period. Microbial Lipase Market is estimated to reach USD 819.2 million and record a CAGR of 6.50% by the end of 2030.
The growth for the microbial lipase industry is attributed to the several factors. Microbial lipase is used widely in the production process of dairy products which in turn accelerates the growth of market during the forecast period. Moreover, growing demand for confectionery industry is also anticipated to responsible for the rising growth of microbial lipase industry at a global level. Also, the increasing consumer preference towards the ready to eat food products is also expected to enhance the demand for microbial lipase during the forecast period. However, a lack of clarity in the patent protection law is anticipated to hinder the growth of Microbial Lipase Market during the forecast period.
Novozymes AS (Denmark), Koninklijke DSM N.V. (Netherlands), Chr. Hansen A/S (Denmark), Amano Enzyme USA Co., Ltd. (US), Associated British Foods Limited (UK), DowDupont Inc. (US), Advanced Enzymes (India), Enzyme Development Corporation (US), Creative Enzymes (US), Meito Sangyo Co., Ltd. (Japan), Aumgene Biosciences (India), and Biocatalysts Ltd (UK) are some of the key players in the global market.
Regional Market Summary
Global Microbial Lipase Market Share (%), by Region, 2018
Source: Secondary Sources and MRFR Analysis
Among the regions, North America has accounted for the major market share of 35% in the global microbial lipase industry in 2018, and the regional market is estimated to retain its dominance throughout the forecast period. The growth for the microbial lipase industry in North America is attributed to several factors. The increasing use of the product in dairy products is one of the significant factors for the rising growth of microbial lipase industry in the region. Also, the demand for the product has gained acceptance as a cleaning agent among the toiletries manufacturers. In North America, the US is estimated to retain its dominance throughout the forecast period. Europe is also estimated to account for 30% market proportion in the global market in 2018. Europe is also projected to register substantial growth rate during the forecast period. However, the market in Asia-Pacific is projected to expand at an exponential growth rate during the forecast period. Technological advancement in the emerging economies is considered to be major factors for the rising growth of microbial lipase in Asia-Pacific. In Asia-Pacific, China and Japan are collectively accounting for significant market share in 2019.
Global Microbial Lipase Market, by Source
Global Microbial Lipase Market, by Form
Global Microbial Lipase Market, by Application
Global Microbial Lipase Market, by Region