Rising awareness regarding animal health among consumers and increasing demand for high quality animal produce across the globe has led to a high demand for lipase, thereby boosting the growth of the global market. Also, this has led to the growing consumption of meat and processed milk products, thus improving the health of the livestock. It is one of the fastest growing markets among industry enzymes, owing to the numerous health and industrial benefits. In applications related to food, lipases mainly act like cleaning agents and help in enhancing the shelf-life, flavor, and texture along with increasing the softness of the food items. They also help preventing health-related issues, such as diabetes, cholesterol, and obesity, among others. Therefore, lipase majorly finds application in industries, such as food & beverage, cosmetics, pharmaceuticals, textile, and leather industries.
The global lipase market is projected to reach a value of USD 590.5 Million by 2020, growing at a CAGR of 6.5% during the forecast period from 2015 to 2020.
Geographical growth scenario of the market
The market for lipase in Asia-Pacific held the largest market share, and is also said to be the fastest-growing market. It is also expected to register the highest growth in the coming years, with rapid growth of this market mainly in developing nations like China and India. Increasing awareness regarding the health of the animals and growing consumption of meat processed milk products are the major factors contributing toward the growth of lipase market in this region. In terms of market size, the North American market is the second largest market, with the U.S. being the key revenue pocket in this region. The market in Latin America is estimated to be the second fastest-growing market for lipase over the projected period.
Drivers and restraints impacting the market growth
The growth of the global market for lipases is being majorly governed by the following factors:
• Growing awareness regarding the multiple health benefits of lipase
• Increased awareness about animal health
• Rising demand for quality animal produce
• Growing consumption of EMC and EMDI across the globe
In addition, increase in the consumption of meat and meat products, rising population and disposable income of people, and growing demand for convenience food across the globe are also expected to further boost the growth of this market in the coming years.
On the flip side, lack of transparency in patent protection laws is expected to be a major hindrance in the growth of this market. Moreover, creating more awareness regarding the benefits of lipases is a key challenge for the market players to tackle in order to grow further in the market.
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Major players and growth strategies adopted
Novozymes A/S (Denmark), E. I. du Pont de Nemours and Company (Genencor) (U.S.), Koninklijke DSM N.V. (Netherlands), and Chr. Hansen Holdings A/S (Denmark) are the key players involved in the global market for lipases. These companies adopted new product launches & developments and expansions as their key strategies to cater to the needs of the market and rising consumer demand. They are also actively focusing on investing in research & development activities. Apart from these, acquisitions and agreements are the other strategies being implemented in order to acquire a larger share in the market.
