Dublin, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The "Biocatalysts Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global biocatalysts market is expected to grow at a CAGR of 6.67% during 2021-2027. Biocatalysts are substances, specifically enzymes, that activate or speed up a biochemical reaction. Biocatalysts are used in chemical synthesis in various industries (such as pharmaceuticals, food & beverages, animal nutrition, household, and others). In the pharmaceutical industry, biocatalysts help in manufacturing drugs for DNA/RNA treatment, cancer, heart-related disease, and other treatments.
Increasing demand for biobased products drives the biocatalysts market. Due to emerging technology, sustainability is growing all over the world. In the pharmaceutical industry, companies have started using biobased drugs to improve the quality of products, making the pharmaceutical biocatalysts market grow rapidly. Thus, top companies follow the expansion strategy for acquiring a greater biocatalysts market share. The food & beverages industry is rising due to the increasing consumption of food & beverages, thus increasing the demand for biocatalysts in the global industry.
MARKET TRENDS & DRIVERS
Increase in Food Consumption Due to Growth in Population
- The food industry includes four major sectors - producers, marketers, processors, and farm services. During the Covid 19, the demand for food supplies increased, resulting in the food industry's growth. Enzymes are used in the food industry as a preservative, the best substitute for chemical preservatives. They improve the quality of products such as starch, fruit juices, cheese, animal feed, and beer & wine. From the application perspective, the demand for animal feed is increasing due to higher poultry, meat, and dairy consumption.
Increasing Demand from Pharmaceutical Industry
- The pharmaceutical industry's revenue is increasing yearly due to increasing demand for the drugs used for manufacturing pharmaceutical products. In past years, the Chinese pharma industry has been on the top in terms of growth rate. The consumption of pharmaceutical products is growing due to changes in clinical practices and increasing chronic and aging-related issues.
- The lowering of regulatory barriers for new drugs in the US causes an increased demand for pharma sector products globally. During the Covid-19 pandemic, the highest demand for pharmaceutical products was observed. The demand for new drugs is still high owing to the recurrence of new variants of Covid-19 in various countries. The demand for pharmaceutical products is also increasing in developing countries such as India, China, and Brazil, among others owing to the emergence of Covid-19 variants, lifestyle diseases, and an aging population. Biocatalysts are used in the manufacturing processes of antibiotics to treat such diseases. And with a growing global pharmaceutical industry, the biocatalysts market is also growing.
MARKET RESTRAINT
Technical Barriers Affecting Industry
Biocatalysis is a process that accelerates the chemical process by using biomolecules. It includes mild reaction and high selectivity conditions. Therefore, biocatalysts play an important role in the chemical industry and are gaining relevance in industrial applications. But, there is difficulty in finding the accurate protein structure of biocatalysts. The process is time-consuming and requires more catalysts to fulfilling the chemical reaction process. For the biocatalysts manufacturing process, specific conditions such as new substrate, new concentration, and other conditions are required which are not found easily in nature. Thus, increasing the cost of producing the biocatalysts.
Market Dynamics
Opportunities & Trends
- Increasing Demand from Pharmaceutical Industry
- Soaring Demand for Biofuel
- Adoption of Sustainability Standards to Improve Productivity & Profitability
- Increasing Use of Cleaning Products
Growth Enablers
- Increase in Food Consumption Due to Growing Population
- Rise in Demand for Plant-Based Products
Growth Restraints
- Technical Barriers Affecting Biocatalysts Market
- High Cost & Lack of Awareness of Biobased Products
| Report Attribute | Details |
| No. of Pages | 238 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value (USD) in 2021 | $495 Million |
| Forecasted Market Value (USD) by 2027 | $729.03 Million |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
SEGMENTATION
Segmentation by Type
- Carbohydrases
- Proteases
- Polymerases & Nucleases
- Lipases
- Phytases
- Other
Segmentation by End Use
- Pharmaceutical
- Food & Beverages
- Animal Nutrition
- Household
- Others
Segmentation by Geography
- APAC
- China
- India
- Japan
- South Korea
- Rest of APAC
- North America
- US
- Canada
- Europe
- Germany
- Spain
- France
- Italy
- Rest of Europe
- Latin America
- Brazil
- Mexico
- Rest Of Latin America
- Middle East & Africa
- South Africa
- South Arabia
- Rest of the Middle East & Africa
Key Players
Key Vendors
- DuPont
- BASF SE
- DSM
- AB Enzymes
- Novozymes
Other Prominent Vendors
- Chr Hansen Holding A/S
- Codexis
- Dyadic International Inc.
- Amano Enzymes
- Biocatalysts
- Nature Bioscience Pvt Ltd.
- Johnson Matthey
- Advanced Enzymes Technologies
- Zymtronix, Inc.
- Nutritech
- Hoffmann-La Roche Ltd (Roche CustomBiotech)
- Aumenzymes
- The Soufflet Group
- Iosynth
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Premium Insights
7 Market at a Glance
8 Introduction
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Growth Restraints
12 Market Landscape
13 Type
14 End-User
15 Geography
16 North America
17 Europe
18 APAC
19 Middle East & Africa
20 Latin America
21 Competitive Landscape
22 Key Company Profiles
23 Other Prominent Vendors
24 Report Summary
25 Quantitative Summary
26 Geography
27 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/f4m482
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