The latest report by IMARC Group, titled “Biocatalyst Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global biocatalyst market reached a volume of nearly 100 Kilotons in 2016, exhibiting a CAGR of around 6% during 2009-2016. Biocatalysts are soluble protein molecules which act as biological enzymes and speed up the chemical reaction between two or more organic compounds. They are environment-friendly in nature as they can be obtained from transgenic sources such as micro-organisms, plants or animal tissues. On account of this, their demand has been rising in diverse sectors such as food and beverage, cleaning, agriculture, etc. This has further been supported by rapid advances in biocatalyst technologies such as protein engineering technology which is used in the production of novel biocatalysts with altered functional properties.
Highlights of the global biocatalyst market:
- Eco-friendly nature of biocatalysts has increased their applications in various industries.
- Based on product type, hydrolase is the most popular type of biocatalysts, holding more than a half of the total market.
- Europe represents the largest market, accounting for the majority of the global share.
Rising awareness of environment sustainability among the consumers is driving the market globally. Biocatalysts are highly efficient and produce less waste and co-products in a chemical reaction. Due to this, biocatalytic processes are replacing chemical processes in various applications such as starch processing and the production of biofuels, pharmaceuticals, detergents, etc. Further, bio-based feedstocks are preferred over petroleum feedstocks, thereby facilitating the demand for biocatalysts. Moreover, biocatalysts are used in the production of cheese, yoghurt, bakery products, etc. as they help in lowering the cost and time of the process while producing nutrient rich food. According to the report, the global biocatalyst market is projected to reach a volume of around 140 kilotons by 2022.
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The market has been segmented on the basis of type which covers hydrolase, oxidoreductases and transferases. Among these, hydrolase is the most popular type of biocatalyst, accounting for more than a half of the total share. On the basis of applications, biocatalysts are majorly used in the food and beverage sector. It is followed by cleaning agents, biofuel production, agriculture and feed, and biopharmaceuticals sectors. Region-wise, Europe represents the leading market, holding more than a third of the global sales. Europe is followed by North America, Middle East and Africa, Asia-Pacific and Latin America. On assessing the competitive landscape of the market, it is found that the major players are Novozymes, DuPont and Royal DSM.
The report has examined the global biocatalyst market on the basis of:
- Food and Beverages
- Cleaning Agent
- Biofuel Production
- Agriculture and Feed
- North America
- Latin America
- Middle East and Africa
- Royal DSM
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