The new report by Expert Market Research titled, ‘Global Biocatalysts Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global biocatalysts market, assessing the market based on its segments like type, application, source, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): 117 Kilotons
- Forecast CAGR (2023-2028): 6.4%
- Forecast Market Size (2026): 170 Kilotons
Biocatalysts’ use has grown steadily as a result of technological advancements and the fact that they are environmentally friendly. Moreover, as the benefits of biocatalysts and their environmental protection have become more widely recognised, demand for the product has increased in industries such as food and beverage, detergents, starch processing, and textiles. Over the forecast period, the growing number of research activities in biofuels and biopharmaceuticals in relation to biocatalysts is expected to have a positive impact on the biocatalysts industry.
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Industry Definition and Major Segments
Biocatalysis is the use of living (biological) systems or parts of living (biological) systems to accelerate (catalyse) chemical reactions. Natural catalysts, such as enzymes, perform chemical transformations on organic compounds in biocatalytic processes and are called biocatalysts.
On the basis of type, the market can be divided into:
The industry is segmented based on application into:
- Food and Beverages
- Cleaning Agent
- Biofuel Production
- Agriculture and Feed
Based on source, the market can be divided into:
Regionally, the industry is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The global demand for biocatalysts is mainly driven by the rising environmental consciousness. Various technological advancements have made it possible to replace traditional chemical catalysts, which release toxic elements into the atmosphere when used, with biocatalysts, which are a more environmentally friendly option. Biocatalysts are gaining popularity in chemical synthesis due to a number of benefits, including easier separation, fewer side reactions, and less use of protecting groups. Biocatalysts are also less energy-intensive than traditional alkaline catalysed methods, allowing for the use of unrefined feedstock in biodiesel production.
Key Market Players
The major players in the market are Novozymes, Du Pont, Codexis Inc., BASF SE, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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