The global microbial lipase market revenue is expected to expand at a lucrative CAGR over the forecast period. Increasing multiple health benefits associated with the use of lipase in human bodies is the major factor expected to boost growth of the global microbial lipase market.
The global microbial lipase market report has been segmented on the basis of application, form, source, and region.
On the basis of application, the global microbial lipase market is segmented into cleaning agent, animal fee, dairy product, bakery product, and confectionery product.
On the basis of form, the global microbial lipase market is segmented into powder and liquid. The liquid segment is expected to contribute significant share in terms of revenue in the global market. The powder segment is estimated to register lucrative CAGR.
On the basis of source, the global microbial lipase market is segmented into fungi and bacteria.
On the basis of region, the global microbial lipase market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Asia Pacific market is expected to dominate in the global market, and is projected to maintain its dominance over the forecast period. This is primarily attributed to rising adoption of lipase enzymes by end use verticals such as in cosmetics for removal of lipids in countries in the region. North America market is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. This is attributed due to increasing use of enzymes in animal feed, along with dairy products, cleaning agents, and toiletries in the countries in the region. The global microbial lipase markets in Europe, Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global microbial lipase market include Novozymes A/S, Chr. Hansen A/S, Koninklijke DSM N.V, Associated British Foods plc, The Dow Chemical Company, Amano Enzyme, Advanced Enzyme Tech, Enzyme Development Corporation, Aumgene Bioscience, Biocatalysts Limited, and Creative Enzymes.