The global microbial lipase market size is expected to reach US$ 915.9 Bn by the end of 2029. According to the report, the ever-increasing demand for microbial lipase in various industrial applications such as milk and animal feed production helps to increase the market for microbial lipase. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
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It includes in-depth insights into the microbial lipase market. Some of these are:
- The estimated value of the market was at US$ 510 Bn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- Microbial lipase industry is dominated Asia Pacific.
- The emergence of leading global microbial lipase producers and the increase in the adoption of lipase enzymes are increasing demand for microbial lipases in the Asia Pacific area.
- It is estimated that the powder type of microbial lipases dominates the market for microbial lipase, as consumers prefer.
- Due to their numerous applications in a wide range of food processes, the demand for lipase, especially from microbial sources, is expected to show significant growth in the near future.
- In terms of form, the liquid segment emerged dominant and is likely to continue leading the market through the course of the forecast period.
“In many countries, the lack of clarity in lipase patent security laws and the lack of a clear regulatory structure hinder growth in demand for microbial lipase,” said a lead analyst at FMI.
COVID-19 Outbreak will Impact Growth of the Market
The lockdown due to corona outbreak might severely impact the supply side of the microbial lipase market. It may also affect the production and distribution of their goods and services. After the lockdown is lifted, there is a quite possibility that there will be an increase in sales which will be met through existing inventories of the companies in the microbial market.Growing population along with increasing economic standards has led to increased spending on food services. Like the aforementioned forecasts, however, the market could head to harsh waters.
Who is Winning?
The key players operating in the global microbial lipase market are DowDuPont (US), Amano Enzymes (Japan), Novozymes (Denmark), Associated British Foods (UK), and Chr. Hansen (Denmark). There are some new developments in the industry that will generate specific opportunities for the microbial lipase manufacturers.
Furthermore, mergers and acquisitions continue to be a common strategy among market players. With strategic alliances companies plan to increase their global footprint.
Get Valuable Insights into Microbial Lipase Market
Future Market Insights, in its new report, presents an unbiased analysis of the global microbial lipase market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. On the basis of application, the sub-markets include cleaning agents, animal feed, dairy products, bakery products, confectionery products, and other applications. On the basis of form, the sub-markets include powder, and liquid. On the basis of source, the sub-markets include fungi, and bacteria. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
MICROBIAL LIPASE MARKET TAXONOMY
The global Microbial Lipase market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Cleaning Agents
- Animal Feed
- Dairy Products
- Bakery Products
- Confectionery Products
- North America
- Latin America
- East Asia
- South Asia