The global lipase market is expected to grow at a CAGR of 10.3% during the projected period. The market value is projected to increase from US$ 612.6 million in 2023 to US$ 1631.2 million by 2033.
As far as digestion problems are concerned, the adoption of lipase is no less than a panacea. Apart from that, these are also used for transporting certain kinds of enzymes to various parts of the body. This is expected to increase the demand for lipase during the forecast period.
Apart from that, the healthcare specialists recommend the consumption of lipase as these help in breaking the lipids and lowering down the fatty acid levels, which are quite unhealthy.
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Moreover, even the cardiovascular specialists have highlighted the importance of lipase. The reason being they help in the reduction of cholesterol and triglycerides.
Not only that, they have been effective in maintaining proper health condition for diabetic patients as well. This might surge the sales of lipase during the forecast period.
One of the most underrated, yet important benefits of lipase is its ability is to allow the users to have an idea about the ideal consumption time limit for food items. This might boost the growth of lipase market.
Additionally, they are also used in meats and fish products for removing free fatty acids.
One of the most important applications of lipase has been in the detergents. These are effective in the removal of fatty deposits and in the cleaning of clogged drains as well. This might as well boost the lipase market.
Based on what has been mentioned, an FMI analyst was of the view that “increased usage of lipase in the detergents, coupled with its ability to help in the digestion process, and many other applications are expected to surge the lipase market during the forecast period.”
Key Takeaways
- The lipase market is expected to grow at a CAGR of 5.6% during the forecast period.
- As on 2022, the lipase market valuation is US$ 694 Mn.
- By 2032, the lipase market is expected to be hold a valuation of US$ 1197 Mn.
- North America was the largest lipase market in 2021, with a share of 38% and estimation worth US$ 263 Mn.
- Europe was the second largest market, with a share of 31%.
- Asia Pacific is expected to be the fastest growing market during the forecast period.
- China was the largest market in Asia Pacific with a market share of 32%, followed by India, with a share of 31%.
- Based on the source, microbial source is expected to be the leading segment during the forecast period.
- Based on the end use, the food segment is expected to have the largest market share during the forecast period.
- Based on the form, liquid is expected to have the largest market share during the forecast period.
Competitive Landscape
With a wide variety of applications, the key players are looking for ways to expand their product portfolio, and indulge in market diversification.
Some of the recent developments are:
- Sacco and Dohler declared their strategic alliance in the fields of plant-based dairy substitutes and food cultures in 2021. In this dynamic and expanding market segment, this alliance will increase the rate at which new goods and brands are developed and successful.
- Novozymes, the market leader in biological solutions, will introduce the biocontrol sector of agriculture in 2021, expanding beyond its current foundation of microbial goods and innovation with potential enzyme-based technologies.
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Key Companies Profiled in the Lipase Market
- Chr. Hansen Holdings A/S
- Amano Enzymes Inc.
- Clerici-Sacco Group
- Novozymes A/S
- Renco New Zealand
- Associated British Foods Plc
- Sacco and Dohler
- Koninklijke DSM N.V.
- Advanced Enzymes.
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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