Laccase Market Size, Share, Growth, Trends, Global Industry Analysis, By Type (Fungi Source, Plants Source), By Application (Textile Industry, Food Industry, Pharmaceutical Industry, and Others), Regional Forecast From 2024 To 2032

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LACCASE MARKET REPORT OVERVIEW

The global laccase market size was USD 3 billion in 2023 and is projected to touch USD 4.37 billion by 2032, exhibiting a CAGR of 4.5% during the forecast period.

Laccase is a kind of multicopper oxidase that can be found in bacteria, fungi, and plants. It performs one-electron oxidations on a range of phenolic substrates, which results in crosslinking. It is an enzyme from the multicopper blue oxidase family, which is commonly found in fungi and plants. It may reduce molecular dioxygen to water and catalyze the oxidation of a wide range of substances, including ortho and para-diphenols, polyphenols, aminophenols, polyamines, lignins, and a number of inorganic ions. It is one of the enzymes that fit the circular economy model, which has greater advantages than the linear economy and is based on the "reduce-reuse-recycle" principle, extremely well.

Laccase has potential uses in the food, pharmaceutical, and environmental industries because of its versatility in employing a wide range of phenolic and non-phenolic substrates. It has also been used for many years to bleach paper pulp. Fungal laccases are primarily extracellular enzymes that can be extracted from the leftover compost of commercially produced edible mushrooms like Pleurotus ostreatus and Agaricus bisporus. Additionally, it has been isolated from wastewater bacteria. Its major potential comes in its capacity to oxidize lignin, a substance found in lignocellulosic materials; this property can be extensively used as a pretreatment for the valorization of agro-food wastes.

COVID-19 IMPACT

"The Combined Effect Of The Pandemic Accelerated Market Growth"

The global COVID-19 pandemic has been unprecedented and staggering, with the laccase market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The megatrends in sustainability, health, and safety accelerated with COVID-19, raising the bar for solutions that improve human living conditions. Utilizing technology, enterprises all over the world gradually flattened their recessionary curve in response to the novel coronavirus pandemic's widespread spread. Many companies went through the phases of response, recuperation, and renewal. The market's slowdown was caused by the impact of lockdowns, supply chain disruptions, destruction of demand, and changes in consumer behavior. Building organizational resilience and fostering agility helped businesses progress on their path out of the COVID-19 crisis and toward the new normal.

LATEST TRENDS

"Usefulness in Biorefineries Increases the Market Growth"

Currently, the demand for clean biofuels that are not derived from oil is fueling a surge in biorefinery technologies. The enzyme's potential is thus clear given that it can degrade lignocellulosic materials used as raw materials in these procedures. This review will include a critical analysis of the item's production processes, its use in the food sector, and the bioprocessing of item by-products utilizing this enzyme. The laccase market expanded for the same reason.

LACCASE MARKET SEGMENTATION

By Type

Based on type; the market is divided into Fungi Source, Plants Source.

Fungi Source is the leading part of this segment.

By Application

Based on application; the market is divided into Textile Industry, Food Industry, Pharmaceutical Industry, and Others

Food Industry is the leading part of the application segment.

DRIVING FACTORS

"Popularity in the Food Industry Increases Product Demand"

This specific enzyme has been employed in the food business over the years, particularly in the identification of various phenolic chemicals that may have an impact on the calibre of some items. It is frequently used in the production of beverages, the stabilization of wine and beer, baking, the gelation of sugar beet pectin, and other processes. Because they enhance the texture of bread, enzymes are frequently utilised in the baking sector. It is no different, and it has been claimed that using it will strengthen the gluten structures and enhance the dough consistency. The stability of wine by phenolic compound control is one of its most well-known uses in the food business. Therefore, a variety of applications in the culinary business are causing the market for laccase to expand.

"The Easy Availability of the Product Speeds Up Market Growth"

One of the most researched enzymes in the planet is it. It is suitable for a variety of industrial applications due to its low substrate specificity and ability to break down phenolic compounds using only oxygen. Additionally, many bacteria, particularly the white-rot fungus, release it to breakdown lignin. Using aqueous two-phase systems, the enzyme may be recovered from leftover compost of edible mushrooms like Agaricus bisporus and Pleurotus ostreatus; this method can then be used to extract the enzyme from various food by-products. It is easily accessible, which helped the laccase market expand.

RESTRAINING FACTORS

"The Product's Less Stable Property May Impede Market Growth. "

Laccases have enormous industrial potential, but their use is limited by drawbacks including decreased stability, decreased resistance to high temperatures, pricey stimulators, and purifying procedures. It was discovered that protein packing improves the levels of helical fold, H bond density, salt bridges, charged residue distribution, proportions of amino acids, and glycosylation. The aforementioned elements are in charge of improving the enzyme's thermal stability. These factors prevent the lacasse market from expanding quickly.

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LACCASE MARKET REGIONAL INSIGHTS

"North America to Lead Market Owing to Urbanization"

In comparison to other geographical regions, North America has the largest laccase market share. By producing and incorporating foreign pollutant compounds, global urbanisation and industrial activities have distorted ecosystems and had a negative impact on both human and animal health. Additionally, this region uses more laccase in waste water treatment due to industrialisation and urbanisation. The laccase market is expanding quickly in the region because end-user industries there are expanding.

KEY INDUSTRY PLAYERS

"Prominent Market Players to Accelerate Market Growth"

A number of sources were used to compile the data for this market. Several examples include trade magazines, statistics from professional associations, university studies, and government reports. Information is acquired from producers, distributors, sellers, retailers, micro-experts, and other market participants in addition to these primary sources. The study provides information on market players and their regional activity. Partnerships, technological developments, acquisitions, mergers, and the laccase market growth of industrial facilities are a few examples of techniques for gathering data and generating reports.

List of Top Laccase Companies

• Novozymes (Denmark)
• DuPont (U.S.)
• Amano Enzyme (U.S.)
• Yiduoli (China)
• Sunson (Indonesia)
• Denykem (U.K.)

REPORT COVERAGE

In addition to supply and demand, production capacity, and industry chain analysis, the research also offers a thorough study of the market's current situation, including a look at raw materials, technology, and equipment. The market potential and market dangers related to the creation of particular categories are assessed in this study. Additionally, it evaluates the impact of significant market drivers and restraints on market growth. The effectiveness of important firms is assessed throughout time, and their influences on market dynamics are investigated.