PUBLISHER: The Business Research Company | PRODUCT CODE: 1518242
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518242
Biocatalysts are biological molecules, typically enzymes, that facilitate chemical reactions in living organisms or in vitro systems. They enhance reaction rates by lowering the activation energy required for the reaction to proceed, without being consumed in the process. Due to their specificity, efficiency, and environmentally friendly nature, biocatalysts find extensive applications across industries such as pharmaceuticals and environmental remediation.
The primary types of biocatalysts include oxidoreductases, transferases, hydrolases, and others. Oxidoreductases are enzymes that mediate oxidation-reduction reactions, involving the transfer of electrons between molecules. Derived from various sources such as plants, animals, and microorganisms, they are utilized in diverse applications including food and beverages, cleaning agents, biofuel production, agriculture and feed, biopharmaceuticals, and more.
The biocatalysts market research report is one of a series of new reports from The Business Research Company that provides biocatalysts market statistics, including biocatalysts industry global market size, regional shares, competitors with a biocatalysts market share, detailed biocatalysts market segments, market trends and opportunities, and any further data you may need to thrive in the biocatalysts industry. This biocatalysts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed during the historical period can be attributed to various factors, including increased demand for sustainable manufacturing practices, extensive application in pharmaceuticals and the food industries, expanded research and development activities, heightened 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 anticipated growth in the forecast period can be attributed to several factors, including the increasing demand for sustainable manufacturing processes, expanding applications in pharmaceuticals and biofuels, the emergence of new enzyme engineering technologies, a growing focus on green chemistry initiatives, rising adoption of biocatalysts in the agriculture sector, and evolving regulatory landscapes. Key trends expected in this 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, emergence of novel enzyme immobilization methods, integration of artificial intelligence in enzyme discovery, and growing interest in biocatalyst-based carbon capture solutions.
The increasing trend towards natural food products is poised to drive the expansion of the biocatalyst market in the foreseeable future. Natural food products are those produced without synthetic chemicals, pesticides, or genetically modified organisms (GMOs), and are minimally processed and devoid of artificial additives. The surge in demand for natural food products is attributed to factors such as growing consumer health consciousness and the increasing need for transparency in the food supply chain. Biocatalysts, including enzymes, play a pivotal role in biochemical reactions in natural food products, enhancing processes such as fermentation, flavor enhancement, and preservation. For instance, a survey conducted by the Organic Trade Association (OTA) in June 2022 revealed that sales in the organic industry exceeded $63 billion, with a $1.4 billion (2%) increase over the previous year. Organic food, constituting over 90% of organic product sales, experienced a 2% growth, reaching $57.5 billion. Thus, the rising shift towards natural food products is fueling the growth of the biocatalyst market.
Major players in the biocatalyst market are concentrating on the development of advanced solutions, such as nucleases, to enhance the efficiency of biotechnological processes and enable cost-effective manufacturing practices across diverse industries. Nucleases, a type of biocatalyst, are enzymes that facilitate biochemical reactions by catalyzing the hydrolysis of phosphodiester bonds within nucleic acids such as DNA and RNA, leading to their degradation into smaller components. For example, Biocatalysts Ltd., a UK-based biotechnology research company, introduced Nuclease 46L (N046L) in March 2023. This enzyme is engineered to degrade various nucleic acids from multiple sources, offering a cost-effective solution for DNA elimination in various biotechnology applications. Nuclease 46L enhances efficiency by efficiently reducing nucleic acids, thereby improving downstream processes and ensuring nucleic acid residue-free final food products.
In May 2023, BRAIN Biotech AG, a Germany-based industrial biotechnology company, acquired Biocatalysts Ltd. for an undisclosed sum. This acquisition enables BRAIN Biotech to consolidate its industrial production assets and establish a bioproducts segment, thereby enhancing revenue and cost synergies. The objective is to accelerate growth targets and implement efficient organizational structures, particularly within the product business. Biocatalysts Ltd., a UK-based biotechnology research company, specializes in creating innovative enzyme solutions for various industrial applications.
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
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.
The countries covered in the biocatalyst market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biocatalyst market consists of sales of industrial enzymes, specialty enzymes, enzyme kits, and immobilized enzymes. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biocatalyst Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biocatalyst market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biocatalyst ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biocatalyst market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.