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.