New York, Nov, 22, 2017: Axiom Market Research & Consulting published a report on Global Lipase Applications Market Report, By Application and Geography Forecast up-to 2024. The major applications of lipase studied in the report are, Functional Oil, Omega-3 Fatty Acids, 1, 3-Oleoyl-2-palmitoylglycerol (OPO), and Cocoa Butter Equivalent (CBE). The report includes market size estimation for the regions such as North America, Europe, Asia-Pacific and Rest of the World region which includes Latin America, and the Middle East and Africa. The global lipase market was estimated for 2017 and is forecasted from 2019 to 2024, in terms of volume (Kilo) consumption of lipase and revenue (USD ‘000).
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The global lipase market while considering the applications such as Functional Oil, Omega-3 Fatty Acids, 1, 3-Oleoyl-2-Palmitoylglycerol (OPO) and Cocoa Butter Equivalent (CBE), within the scope was valued at USD 36.6 million in 2017 and it is projected to grow at a CAGR of 7.1% from 2019 to 2024 to reach USD 59.0 million by 2024.
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Among the applications, omega-3 fatty acids represented the largest market both by revenue and volume. The demand from this segment is primarily driven by its application in enzymatic concentration of omega-3 fatty acids. Functional oil follows omega-3 fatty acids. In the present scenario, fats and oil modification is one of the prime areas in food processing industry that demands novel economic and green technologies. In this respect, tailored vegetable oils with nutritionally important structured triacylglycerols and altered physicochemical properties have a big potential in the future market. In this context, it is well established that lipases especially microbial lipases, which are regiospecific and fatty acid specific, are of immense importance and hence could be exploited for retailoring of vegetable oils.
The key companies that dominate the market are, Novozymes A/S, Koninklijke DSM N.V., Chr. Hansen Holdings A/S, Amano Enzymes Inc., Associated British Foods PLC, E. I. Du Pont De Nemours and Company (Genencor), Advanced Enzymes, Clerici-Sacco Group, Renco New Zealand, Enzyme Development Corp among others.
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The Global Lipase Market is mainly segmented on the basis of Source, End Use and by Region/Country. On the basis of source of lipase, the market is segmented into Microbial and Animal. Further the market is segmented on the basis of end uses such as, Dairy, Animal Feed, Food Products, Chemicals and Others which include Cosmetics, Pharmaceuticals etc. Dairy applications are further segmented into Enzyme Modified Dairy Ingredients, Enzyme Modified Cheeses and Others.
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