(I-BusinessNews.Com, July 03, 2021 ) The microbial lipase market was valued at USD 400.6 Million in 2017 and is projected to reach USD 590.2 Million by 2023, growing at a CAGR of 6.8% from 2018, in terms of value. The objectives of this study are to define, segment, and project the size of the microbial lipase market based on application, form, source, and key regions.
Microbial lipases are enzymes that act as catalysts and break down oils and solid fats into fatty acids and monoglycerides. Microbial lipases are generally extracted from yeast, fungi, and bacteria. Lipases are widely present in nature, but microbial lipases are more significant than the lipases obtained from plant and animal sources, due to their wide availability, greater stability, and low production cost.
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Microbial lipases are highly diversified in their enzymatic properties and substrate specificity, which are useful for industrial applications. They play a vital role in the fermentation of cheese and yogurt. They are used in the bakery, dairy, laundry detergent, and animal feed industries. They are also used to convert vegetable oils into biofuel.
The microbial lipase market includes players such as Novozymes (Denmark), DSM (Netherlands), Chr. Hansen (Denmark), Amano Enzymes (Japan), Associated British Foods (UK), DowDuPont (US), Advanced Enzymes (India), Enzyme Development Corporation (US), Aumgene Biosciences (India), Biocatalysts (UK), Meito Sangyo Co., Ltd (Japan), and Creative Enzymes (US).
The market is concentrated with key market players adopting investments and strategic alliances, expansions, mergers & acquisitions, new product launches, partnerships, and agreements with other players to strengthen their business, explore new and untapped markets, expand in local areas of emerging markets, and develop a new customer base for long-term client relationships.
Novozymes was founded in 1923 and is headquartered in Denmark. It is a biotechnology company and is engaged in the production and marketing of enzymes, microorganisms, and biopharmaceutical ingredients. The company generates revenues from five major segments, namely, bioenergy, food & beverages, household care, technical & pharma, and agriculture & feed. Novozymes, through its biopharma business segment, provides healthcare products such as enzymes and bio-based technologies.
Novozymes operates globally through its subsidiaries and partnerships with other companies. The company highlighted its interest in strengthening its financial performance by focusing on bio-yield-enhancing products that are eco-friendly. Through heavy investment in R&D, the company strategizes to innovate its product offering and meet the demand for more effective enzymes in the highly competitive market. For instance, in November 2016, Novozymes opened a new production facility in India. This helped the company to expand its industrial enzyme business in Southeast Asia.
DowDuPont is a combined entity of Dow and DuPont, which have been innovative science-based leading companies in the agriculture, specialty products, and material science industries. In September 2017, DuPont merged with Dow Chemicals to form a combined entity named ÂDowDuPont.Â Genencor is a biotechnology division of DuPont, which operates in the field of industrial enzymes and proteins. Genencor has a wide range of industrial enzymes under its portfolio, including lipases, xylanase, and cellulase.
The companyÂs manufacturing, processing, marketing, and R&D facilities, as well as regional purchasing offices and distribution centers, are located across the globe. The subsidiaries of DowDuPont are Solae, E. I. du Pont de Nemours and Company (UK), and so on. The major competitors of DowDuPont include Novozymes A/S, Chr Hansen Holdings A/S, and Koninklijke DSM N.V.
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The company is focusing more on market visibility; productive R&D would create an opportunity for the growth of the microbial lipase market. Before the merger, DuPont had a three-tier strategy to achieve growth in this market. The first part of the strategy was to deliver new products by taking advantage of the power of integrated science; second, strongly pursuing knowledge in all its businesses; and third, significantly optimizing productivity using Six Sigma methodologies. DuPont has also been focusing on strengthening its R&D capabilities. This will help the company to sustain its leadership position in the market.
Mr. Aashish Mehra