According to the latest report by IMARC Group, titled “Biocatalyst Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a volume of 124.8 Kilotons in 2020. The global biocatalyst market size to exhibit moderate growth during the next five years. 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.As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Biocatalyst Market Trends:
The growing environmental consciousness is primarily driving the market for biocatalysts across the globe. Various technological advancements have enabled the replacement of conventional chemical catalysts, which diffuse harmful elements into the environment during their application, with biocatalysts, which are an eco-friendly alternative. Biocatalysts are currently gaining traction in chemical synthesis on account of numerous associated advantages, including easier separation, minimal side reactions and reduced use of protecting groups. Furthermore, as compared to conventional alkaline catalyzed processes, biocatalysts are less energy-intensive and enable the utilization of unrefined feedstock in biodiesel production. This, in confluence with the escalating demand for biofuels as an alternative to fossil fuels, is anticipated to impel the global biocatalyst market growth in the coming years. Looking forward, IMARC Group expects the global biocatalyst market to exhibit moderate growth during the next five years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Novozymes A/S
DuPont de Nemours, Inc.
Koninklijke DSM N.V
Biocatalyst Market Segmentation:
Our report has categorized the market based on region, types of biocatalyst, applications, and sources.
Major Types of Biocatalyst Covered in This Report:
Oxidoreductases
Transferases
Hydrolases
Others
Major Applications Covered in This Report:
Food and Beverage Industry
Cleaning Agents
Biofuel Production
Agriculture and Feed
Biopharmaceuticals
Others
Major Sources Covered in This Report:
Microorganisms
Plants