Biocatalysts are biological molecules, typically enzymes, that facilitate chemical reactions in living organisms or in vitro systems. They accelerate the rate of reactions by lowering the activation energy required for the reaction to occur without being consumed in the process. These are widely used in various industries, including pharmaceuticals and environmental remediation, due to their specificity, efficiency, and environmentally friendly nature.
Sizing and Forecast
The biocatalyst market size has grown strongly in recent years. It will grow from $0.53 billion in 2023 to $0.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increased demand for sustainable manufacturing practices, high application in pharmaceuticals and food industries, expanded research and development activities, rise in awareness about environmental concerns, technological innovations, and regulatory support.
The biocatalyst market size is expected to see strong growth in the next few years. It will grow to $0.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increasing demand for sustainable manufacturing processes, expanding applications in pharmaceuticals and biofuels, the emergence of new enzyme engineering technologies, growing focus on green chemistry initiatives, rising adoption of biocatalysts in the agriculture sector, and evolving regulatory landscape. Major trends in the forecast period include innovative biocatalyst formulations tailored for niche applications, increased demand for sustainable manufacturing practices, expansion of enzymatic processes in pharmaceutical and biopolymer sectors, adoption of synthetic biology techniques for enzyme engineering, the emergence of novel enzyme immobilization methods, integration of artificial intelligence in enzyme discovery, and growing interest in biocatalyst-based carbon capture solutions.
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Segmentation & Regional Insights
The biocatalyst market covered in this report is segmented –
1) By Type: Oxidoreductases, Transferases, Hydrolases, Other Types
2) By Sources: Plants, Animals, Microorganisms
3) By Application: Food And Beverages, Cleaning Agent, Biofuel Production, Agriculture And Feed, Biopharmaceuticals, Other Applications
North America was the largest region in the biocatalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biocatalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising shift towards natural food products is expected to propel the growth of the biocatalyst market going forward. Natural food products are food substances produced without synthetic chemicals, pesticides, or genetically modified organisms (GMOs), and they are minimally processed and free from artificial additives. Demand for natural food products is on the rise due to several factors, including increasing health consciousness among consumers and a growing need for transparency in the food supply chain. Biocatalysts, such as enzymes, facilitate biochemical reactions in natural food products, improving processes such as fermentation, flavor enhancement, and preservation. For instance, in June 2022, according to a survey published by the Organic Trade Association (OTA), a US-based business association for the organic industry in North America, it was revealed that organic industry sales surpassed $63 billion, with $1.4 billion (2%) in total growth over the preceding year. Additionally, organic food, which accounted for over 90% of organic product sales, experienced 2% growth, reaching $57.5 billion. Therefore, the rising shift towards natural food products is driving the growth of the biocatalyst market.
Key Industry Players
Major companies operating in the biocatalyst market are BASF SE, F. Hoffmann-La Roche AG, Evonik Industries AG, Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen Holding A/S, Piramal Pharma Solutions, Ginkgo Bioworks Inc., Codexis Inc., BBI Solutions, AB Enzymes GmbH, BRAIN Biotech AG, DuPont Industrial Biosciences, Amano Enzyme Inc., Biosynth Carbosynth AG, BioCat GmbH, Enzyme Development Corporation, Prozomix Limited, evoxx technologies GmbH, Enzymicals AG, Dyadic International Inc., Advanced Enzyme Technologies Ltd., Creative Enzymes, Direvo Industrial Biotechnology GmbH
The biocatalyst market report table of contents includes:
1. Executive Summary
2. Biocatalyst Market Characteristics
3. Biocatalyst Market Trends And Strategies
4. Biocatalyst Market – Macro Economic Scenario
5. Global Biocatalyst Market Size and Growth
…..
32. Global Biocatalyst Market Competitive Benchmarking
33. Global Biocatalyst Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Biocatalyst Market
35. Biocatalyst Market Future Outlook and Potential Analysis
36. Appendix
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