Biocatalysis and Biocatalysts Market to Expand with Significant CAGR by 2023

Biocatalysis is defined as a chemical process through which enzymes and other biological catalysts conduct reaction between organic components. Advancements in the biocatalysis technique have eventually increased the utility and penetration of biocatalysts in several application areas. The widely used application areas of biocatalysts encompass biopharmaceuticals, agriculture, textile, biofuels and other life science applications. Over the years, the applicability of biocatalysts in biofuels has been one of the major growth drivers. The value chain of biocatalysis and biocatalyst industry begins with the raw material suppliers of chemicals, fermentation medium and bioreactors for enzyme production. The next level of value chain comprises the enzyme manufacturers and finally the end users who utilize these enzymes for end product development. Additionally, contract research organizations and contract manufacturers are also a vital component of the value chain. Major sources of these enzymes are either microorganisms or plant and animal cells. Some of the widely used biocatalysts in this market include lyases, isomerases, hydrolases, transferases and oxidoreductases. For instance, hydrolases such as amylases and proteases are utilized in starch processing and biofuel industry for saccharification and starch liquefaction.

Some of the major growth drivers for the global biocatalysis and biocatalyst marketinclude shorter synthetic production pathway, environment friendly products and reduced waste and co-products. In terms of biopharmaceuticals, attributes such as stereoselectivity and chemoselectivity have major role in the high growth and uptake of biocatalysts in this application area. Owing to such potential market drivers, biocatalysts have gradually replaced the chemical synthesis processes in various industries such as food and beverages, biofuels and pharmaceuticals. Lack of adequate regulations and availability of synthetic enzymes and products are among the major restraints to the market. Considering the lack of adequate cost optimization the market is likely to have a steady growth during the forecast period. Rising number of research aBiocatalysis and Biocatalysts Market ctivities in biofuels and biopharmaceuticals with respect to biocatalyst will have a positive impact on the market in forthcoming years. Moreover, the integration of renewable feedstock with microorganisms and chemistry will definitely underpin the future knowledge in this market which will increase the demand and penetration of these products in near future.

Geographically the market in terms of revenue is largely driven by the developed economies such as the United States and developed countries of Europe. Moreover, intense research and development activities in these countries have significantly boosted the market in past few years. Developing regions such as Asia Pacific and Rest of the World are among the fastest growing markets. Availability of high disposable income and rising spending capabilities of consumers in biocatalyst will escalate the growth of biocatalysis and biocatalyst is projected to increase in upcoming years. Pertaining to the production of biofuels and increasing demand for highly productive food crops in emerging economies due to burgeoning population base also contributes in making Asia Pacific and Rest of the World a fastest growing market for biocatalysts. Currently, the United States, Germany, China, Japan and India are key markets for biocatalysis and biocatalysts in present scenario.

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Biocatalyst manufacturers are now focusing on developing innovative and high quality solution to customers. Companies in the past few years have aggressively collaborated with bio-product manufacturers to grow their geographical presence and enhance research and development activities. Some of the prominent companies operating in this market include Novozymes, Koninklijke DSM N.V., Codexis, Inc., Chr. Hansen A/S, Amano Enzyme Inc. E. I. du Pont de Nemours and Company, Biosyntha Technology Ltd., Biocatalysts Ltd., and Piramal Group.

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