According to the latest report by IMARC Group, titled “Biocatalyst Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global biocatalyst market size reached 118 Kilo Tons in 2019. Biocatalysts are enzymes that help in modifying or increasing the rate of a chemical reaction, such as the production of alcohol through fermentation. They are organic and biodegradable and have the potential to operate under mild conditions. Owing to these advantages, biocatalysts are widely used in the food and beverage (F&B), pharmaceutical, textile, and soap and detergent industries across the globe. This can be also be accredited to the vital role of biocatalysts in minimizing costs, enhancing process efficiency and developing new environment-friendly processes. Some of the commonly used biocatalysts are microbes, proteases, lipases, amylases and cellulases.
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Biocatalysts are substances of biological origin that possess the ability to increase the rate of a chemical reaction. They are environment-friendly and biodegradable and have high catalytic efficiency and the ability to operate under mild conditions. Owing to these advantages, they are used in the production of biofuels, biopharmaceuticals, detergents and textiles. Other than this, they are also employed in various industrial and commercial applications around the world.
Biocatalysts find application in the food and beverage (F&B) industry to increase the shelf-life of various food products. Furthermore, owing to stringent environmental policies undertaken by governments of several countries, there is a rise in demand for biofuels worldwide, which, in turn, is driving the biocatalyst market growth. Apart from this, as they are economical and aid in minimizing waste produced during the production process, biocatalysts are employed in the manufacturing of various chemicals and bio-based feedstocks. Moreover, the increasing health consciousness among consumers is resulting in the escalating demand for biocatalysts in the personal care industry. This, in turn, is anticipated to strengthen the market growth in the coming years.
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Based on the type, the market has been segmented into hydrolases, oxidoreductases, transferases and others. At present, hydrolases represent the most popular type of biocatalyst. They are widely utilized in the production of leather, detergents, textiles and food products.
On the basis of the application, the market has been segregated into food and beverages, cleaning agent, biofuel production, agriculture and feed, biopharmaceuticals, and others. Amongst this, the food and beverage (F&B) industry exhibits a clear dominance in the market.
The market has been analyzed on the basis of the source into microorganisms, plants and animals. Microorganisms currently account for the majority of the total market share.
Region-wise, Europe holds the leading position in the market. This can be accredited to the stringent governmental regulations in numerous European countries for increasing the utilization of renewable raw materials instead of fossil fuels and minimizing the emission of greenhouse gases (GHG). Other major regions include North America, Asia Pacific, Latin America, and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being Novozymes A/S, DuPont de Nemours, Inc. and Koninklijke DSM N.V.
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