By Infinium Global Research Aug, 2020
The Global
Microbial Lipase Market is expected to grow at a CAGR of 6.58% between
2020 and 2026 in terms of value. The demand for microbial lipase has increased
over the last decade, as many of the biotech industries are focusing on the
lipase production from microbial sources. The advantages of microbial lipases
over animal and plant lipases are driving the growth of the global microbial
lipase market. The production of microbial lipase compared to the plant or
animal sources is more convenient, safer, and can be obtained in bulk at low
cost. Furthermore, the production of enzymes from natural sources and their
environment-friendly characteristics has led the industry to believe that
enzymes are indeed a sustainable alternative to chemicals in industrial
processes. Moreover, Lipases are forecasted to be the fastest-growing enzymes
on the basis of their wide range of applications in various industrial sectors
which creates opportunities for the market players. Lipases characterize an
enormously versatile group of bacterial extracellular enzymes that are
proficient in performing a range of important reactions, thereby presenting a
fascinating field for future research.
Geographically, the global microbial lipase market has been
segmented into North America, Europe, Asia Pacific, Middle East & Africa
and South America. The Asia Pacific held a large share in the microbial lipase
market owing to the presence of leading microbial lipase manufacturers who
operate on a global level and the rise in the adoption of lipase enzymes in the
region. The North America region is the second-largest market for the microbial
lipase market owing to an increase in the use of enzymes in animal feed, along
with dairy products, cleaning agents, and toiletries. Owing to sustained
economic growth, consumer demand for bakery and processed food is anticipated
to increase with rising disposable personal income in the region. Furthermore,
the European region offers a substantial potential for market growth owing to
rapid growth in markets such as U.K and France.