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Biocatalyst Market Expected to Reach $2.1 Billion by 2032—Allied Market Research

 
2022
Biocatalyst Market

Report Code : A107676

quote Increased demand from the food and beverage industry is driving the demand for biocatalysts. Biocatalysts play an important role in the food and beverage industry. They are natural or engineered enzymes that can accelerate chemical reactions and facilitate various processes involved in food production and processing. In addition, increasing demand from emerging countries like India and China will further boost the demand for the biocatalyst market. However, the limited application of biocatalysts will hinder market growth. quote

Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Biocatalyst Market," The biocatalyst market was valued at $1.1 billion in 2022, and is estimated to reach $2.1 billion by 2032, growing at a CAGR of 6.7% from 2023 to 2032.

A biocatalyst is a substance, typically an enzyme or a whole living cell, that speeds up a chemical reaction or enables a specific chemical transformation to occur under mild conditions. Biocatalysts are derived from biological sources and possess the ability to enhance reaction rates and selectivity, often with high efficiency and specificity.

Enzymes are the most common type of biocatalysts. They function by binding to specific molecules, called substrates, and facilitating their conversion into products through a series of molecular interactions. Enzymes are highly efficient and selective, enabling specific reactions to occur at physiological temperatures and pH levels.

Biocatalysis offers several advantages over traditional chemical catalysts. It can often operate under milder reaction conditions, reducing energy requirements and minimizing the production of unwanted byproducts. Biocatalysts are also compatible with aqueous environments, making them suitable for applications in various industries, including pharmaceuticals, food processing, biofuels, and biotechnology.

The use of biocatalysts provides sustainable and environmentally friendly alternatives to traditional chemical processes. They offer higher reaction rates, greater specificity, and improved control over reaction outcomes. The field of biocatalysis continues to advance with ongoing research efforts focused on discovering and engineering new enzymes and optimizing their performance for various applications.

They offer several properties that make them highly attractive for various applications. Here are some key properties of biocatalysts:

  • High specificity: Biocatalysts exhibit a remarkable degree of specificity, meaning they can recognize and interact with specific substrates or molecules. This specificity allows them to catalyze specific reactions with high efficiency while avoiding unwanted side reactions.
  • Mild reaction conditions: Biocatalysts typically function under mild conditions of temperature, pH, and pressure. This is advantageous compared to traditional chemical catalysts that often require harsh conditions, which can lead to undesirable side reactions or product degradation.
  • Environment-friendly: Biocatalysts are considered environment-friendly due to their high selectivity, which minimizes the formation of waste products. They work under aqueous conditions and do not require the use of toxic chemicals or hazardous solvents. Additionally, they can often be produced from renewable resources.
  • Renewable and sustainable: Biocatalysts are derived from living organisms, and many can be produced using microbial fermentation or recombinant DNA technology. This renewable production process makes them more sustainable compared to chemical catalysts derived from finite resources.
  • Versatility: Biocatalysts can catalyze a wide range of chemical transformations, including oxidation, reduction, hydrolysis, esterification, and more. This versatility allows them to be used in diverse applications across industries such as pharmaceuticals, food and beverages, biofuels, and agriculture.
  • Biodegradability: Biocatalysts are typically biodegradable since they are derived from natural sources. This property is advantageous in applications where the removal or disposal of catalysts is necessary after the reaction.
  • Compatibility with complex substrates: Biocatalysts can often work on complex substrates, including large biomolecules like proteins, carbohydrates, and nucleic acids. They can perform selective modifications on these complex molecules, enabling the production of customized compounds and biomaterials.

Specialty chemicals, including flavors, fragrances, and fine chemicals, require precise and selective synthesis methods. Biocatalysts offer advantages in terms of chemo, regio, and stereoselectivity, making them valuable tools for the production of specialty chemicals. The growing demand for high-quality and sustainable specialty chemicals is fueling the adoption of biocatalysts in this industry.

Biocatalysts can offer cost and operational advantages over traditional chemical catalysts. They often require milder reaction conditions, lower energy inputs, and exhibit high selectivity, which can result in improved yields and reduced waste generation. These factors can lead to cost savings in manufacturing processes, making biocatalysts economically attractive for businesses. However, incorporating biocatalysts into existing industrial processes can sometimes be challenging. Adapting or retrofitting current systems to accommodate biocatalysts requires significant modifications.

In addition, the regulatory landscape surrounding biocatalysts can be complex, especially in sectors such as pharmaceuticals or food production, where strict safety and quality standards are enforced. Meeting regulatory requirements and obtaining necessary approvals is hindering market growth.

The biocatalyst market is segmented into the source, type, end-use industry, and region. On the basis of source, it is categorized into plant, animal, and microorganism. By type, the market is classified into oxidoreductases, transferases, hydrolases, and others. End-use industry covered in the report are pharmaceutical, food & beverage, water treatment, biofuel, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global biocatalyst market include Novozymes, DuPont, DSM, Codexis, BASF SE, Lonza, Amano Enzyme Inc., Dyadic International Inc., Biocatalysts Limited, and Piramal Pharma Solutions. Other players include AB Enzymes, Prozomix Limited, Chr Hansen Holding A/S and evoxx technologies GmbH.

Key findings of the study:

  • On the basis of source, the micro-organism segment is expected to grow at a CAGR of 6.7%, in terms of revenue, during the forecast period.
  • On the basis of type, the hydrolases segment has garnered a major share.
  • Depending on the end-use industry, the biofuel segment is expected to grow at a CAGR of 7.2%, in terms of revenue, during the forecast period.
  • Region-wise, Asia-Pacific garnered more than two-fifth of the market share in terms of revenue in 2022.

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quote Biocatalyst Market by Source (Plant, Animal, Micro-organism), by Type (Oxidoreductases, Transferases, Hydrolases, Others), by End-use industry (Pharmaceutical, Food and beverage, Water Treatment, Biofuel, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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