Lipases (triacylglycerol ester hydrolases, EC 3.1.1.3) are biotechnologically relevant enzymes that find immense applications in food, detergent and pharmaceutical industries. They catalyze the breakdown of fats and oils as well as various synthetic reactions such as esterification, transesterification and interesterification in organic solvents. Microbial lipases stand out as the major sources of the enzyme because of their diversity in catalytic activity, high yield and low cost of production, as well as relative ease in genetic manipulation. This review describes the major factors that affect the lipase production, indicating some of the strategies used to enhance the production. Also, the potential industrial applications that make lipases to be the biocatalysts of choice for the present and future have been presented. This information helps in understanding the major aspects of lipase production as well as the applications.

Key words: Lipases, industrial applications, enzyme, production.