Biocatalysts are defined as substances of biological (non-human) origin, which possess the ability to catalyse a broad spectrum of reactions. They are organic, biodegradable and have high catalytic efficiency along with the ability to operate under mild conditions. Owing to this, they are used for various industrial and commercial applications. IMARC Group’s latest report titled, “Biocatalyst Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global biocatalyst market reached a volume of more than 111 Kilotons in 2018, exhibiting a CAGR of around 6% during 2011-2018.
The market is currently being driven by a number of favourable factors. Due to advancements in technology and the environment-friendly nature of biocatalysts, their use has expanded rapidly. Traditionally used to convert biologically derived (or renewable) feedstock, they are now being used in the production of biofuels, biopharmaceuticals, etc. Moreover, the growing awareness about the benefits of biocatalysts and their environment sustainability has stimulated their demand in industries such as food and beverage, detergents, starch processing and textiles. As a result, the market is further expected to reach a volume of nearly 155 Kilotons by 2024.
The report has segmented the market on the basis of type. Currently, hydrolases represent the largest biocatalyst type, accounting for the majority of the total market share. Other major types are oxidoreductases and transferases. The report has also segmented the market on the basis of the application including food and beverage, cleaning agents, biofuel production, agriculture and feed, biopharmaceuticals and others. On a regional basis, the report covers Europe, North America, Asia-Pacific, Latin America, and Middle East and Africa. Among these, Europe represents the largest region, accounting for more than one-third of the total global share. The report has further analysed the competitive landscape of the market with some of the key players being Novozymes, DuPont and Royal DSM.
This report provides a deep insight into the global biocatalyst industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global biocatalyst industry in any manner.
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Major Types of Biocatalyst Covered in This Report:
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