PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371964
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371964
According to Stratistics MRC, the Global Biocatalysis & Biocatalysts Market is accounted for $13.31 billion in 2023 and is expected to reach $23.56 billion by 2030 growing at a CAGR of 8.5% during the forecast period. The term "biocatalyst" refers to compounds with a biological (non-human) origin that have the ability to catalyse a variety of processes. They are organic, biodegradable, and have high catalytic efficiency, in addition to having the advantage of being able to function in mild settings. They are employed for several industrial and commercial applications. Widely used application areas of biocatalysts encompass biopharmaceuticals, agriculture, textile, biofuels, and other life science applications.
According to the United States Department of Agriculture (USDA), in 2018, Canada's total food and beverage industry sector sales reached $87 billion.
In processed foods, natural bioenzymes are increasingly replacing chemical-based additions. Additionally, a number of studies have shown that the biopreservatives added to processed foods are better for digestive health than dangerous chemicals. In the processing of food, biocatalysis, which uses organic catalysts like enzymes, has many benefits. It allows for increased productivity, greater flavour and texture modification, and the elimination of unwanted chemicals. Food manufacturers are turning to biocatalysts as sustainable and effective solutions in response to the rising global demand for processed foods, which is being driven by shifting customer preferences and the desire for convenience. Thus, there is an increasing demand for market growth.
New biocatalyst development and research require significant financial resources. Complex biological processes, high-tech equipment, and scientific skills all need significant financial outlays. Long-term field trials and regulatory certifications require ongoing spending even after research and development work is finished. Furthermore, small and medium-sized businesses and startups are prevented from entering the market due to the significant capital expenditure requirements of the industry. Therefore, it is a significant barrier to the market's expansion.
Biopharmaceutical manufacturing presents a significant opportunity for the application of biocatalysis and biocatalysts. The demand for biopharmaceuticals, including monoclonal antibodies, enzymes, and recombinant proteins, is rapidly increasing due to their effectiveness and specificity in treating various diseases. Biocatalytic processes can improve the efficiency, yield, and cost-effectiveness of manufacturing these complex molecules, contributing to the advancement of personalised medicine and targeted therapies. The biocatalysis and biocatalysts market is poised for growth and offers numerous opportunities for advancement in various industries.
The biocatalysis and biocatalysts market faces growing concern regarding its environmental impact. While biocatalysts offer eco-friendly alternatives by enabling efficient and selective chemical processes, concerns arise about their production, substrate sourcing, and waste management. Environmental sustainability is pivotal, urging industry players to adopt sustainable practices, minimise resource consumption, and develop biocatalysts from renewable sources. Furthermore, there's an emphasis on optimising biocatalytic processes to reduce energy usage and waste generation.
The COVID-19 epidemic has caused many countries to shut down, which has resulted in a period of low demand from the market's end-use industries. Food and other necessities are once again being stockpiled after widespread frenzied purchasing in several locations in mid-March, which is causing the demand for packaging to decline. Additionally, during lockdown, the COVID-19 pandemic is having an impact on the operations of numerous companies, including the food and beverage sector. The influence of the pandemic on the global operation of these industries, which heavily rely on biocatalysis and biocatalysts, is directly limiting the expansion of the biocatalysis and biocatalysts market.
The Hydrolases segment is estimated to hold the largest share, due to its vital role in enzymatic hydrolysis. Hydrolases, including proteases, lipases, and amylases, catalyse the breakdown of complex biomolecules into simpler compounds through hydrolysis. This process is crucial in various applications such as food processing, pharmaceuticals, biofuels, and wastewater treatment. Additionally, the demand for hydrolases is driven by their specificity, efficiency, and environmental benefits, offering a green alternative to traditional chemical catalysts. Research and development efforts are focusing on enhancing enzyme stability, substrate range, and process efficiency to expand the applications and improve sustainability in the biocatalysis and biocatalyst markets.
The Food & Beverages segment is anticipated to have lucrative growth during the forecast period, due to its rapid growth and innovation. Biocatalysts play a pivotal role in this sector by enabling efficient and sustainable food production processes. Enzymes such as proteases, amylases, and lipases are used to improve the flavours, textures, and nutritional profiles of food products. Moreover, they aid in the production of dairy, baking, brewing, and fruit processing, enhancing product quality while reducing energy consumption and waste. With a growing focus on health-conscious consumers and sustainable practices, the demand for biocatalysts in the food and beverage industry is expected to surge, driving advancements in enzymatic applications and bioprocessing techniques.
Asia Pacific commanded the largest market share during the extrapolated period. The region's increasing awareness of sustainable practices and the demand for green chemistry solutions drive the growth of biocatalysts in diverse applications such as pharmaceuticals, food and beverages, biofuels, and more. Countries like China, India, Japan, and South Korea are emerging as key players in this market, leveraging their thriving biotechnology and pharmaceutical industries. Additionally, collaborations between academic institutions, research organisations, and industry players are fostering innovation and technological advancements, propelling the Asia-Pacific Biocatalysis and Biocatalysts Market, which is expected to have significant expansion and dominance on a worldwide scale.
North America is expected to witness profitable growth over the projection period, due to its robust growth and evolution. Biocatalysis, employing natural catalysts like enzymes to drive chemical reactions, has gained significant traction in the region due to its environmentally friendly and sustainable attributes. North America, comprising the United States and Canada as major players, is witnessing a surge in demand for biocatalysts across various industries such as pharmaceuticals, chemicals, food and beverages, and environmental applications. Moreover, initiatives for research and development, partnerships between academic institutions and business stakeholders, and financial investments in biotechnology and bioengineering all contribute to the market's expansion.
Some of the key players in the Biocatalysis & Biocatalysts Market: E.I. Dupont De Nemours & Co., Codexis Inc., AB Enzymes Gmbh, Novozymes A/S, Dyadic International Inc., Royal DSM N.V., BASF SE, Arzeda Corporation, Chr. Hansen, The Soufflet Group, Amano Enzyme Inc., Debut Biotechnology, Inc., Zymtronix Catalytic Systems Inc., Unilever PLC, Soufflet Agro Rus, LLC, RP Management LLC, Piramal Enterprises Ltd., Codexis Inc., Lonza Group Ltd. and Afton Chemical.
In September 2023, Novozymes launches new biosolution to redefine the plant-based meat experience by enhancing texture and encouraging more consumers to choose plant-based alternatives. Novozymes is excited to offer Vertera® ProBite as a game-changing solution to the plant-based meat industry, opening up new possibilities to create today's and tomorrow's plant-based meat products with advanced texture and consumer-friendly labels.
In February 2023, AB Enzymes and Barentz sign exclusive distribution agreement extension. AB Enzymes and Barentz have announced the extension of the distribution agreement for bake & food enzymes in most of Europe with Barentz. The 5-year agreement further strengthens AB Enzymes' ambitions in the European markets.