According to the latest report by IMARC Group, titled “Europe Biocatalyst Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the Europe biocatalyst market is reached a volume of 50.4 kilo Tons in 2022. Biocatalysts refer to natural substances derived from biological sources that speed up or activate a chemical reaction. They include microbes and enzymes, such as yeast and other anaerobic bacteria, lipases, proteases, cellulases, amylases, and hydrolases. They are commonly present in plants, animals, and microorganisms, which helps modify the rate of chemical reactions and conversion of organic compounds. Biocatalysts are widely used in the fermentation of alcohol, production of cheese, and manufacturing of drugs, flavors, fragrances, electronic chemicals, and polymers. As compared to chemical catalysts, biocatalysts are highly specific, offer superior catalytic efficiency, work in mild conditions, and do not generate toxic by-products. They are also less hazardous, easily decomposable, produce high-quality products, and require less complex infrastructure.
Europe Biocatalyst Market Trends:
The increasing environmental concern, coupled with an enhanced focus on sustainable development, is creating a positive outlook for the market in Europe. Biocatalyst is an organic, degradable substance that is widely adopted in industrial production to reduce pollution, promote green chemistry, create greater sustainability, and reduce overall costs. Furthermore, rising initiatives and investments by the European Union (EU) and the European Society of Applied Biocatalysis (ESAB) to promote research and development (R&D) of biocatalysts for commercial applications are acting as another growth-inducing factor. Additionally, the increasing product utilization for bioconversion and recycling of waste plastics, such as polyethylene terephthalate (PET), is providing an impetus to the market growth. Moreover, widespread product adoption in the pharmaceutical industry to manufacture active pharmaceutical ingredients (APIs), antibodies, amino acids, and vitamin supplements is favoring the market growth. Other factors, including significant growth in the field of biotechnology, implementation of stringent policies by regional governments to replace fossil fuels, and increasing product adoption in the food and beverage (F&B) industry to produce healthy products with enhanced shelf-life, are anticipated to drive the market growth. On account of the aforementioned factors, the market volume is expected to reach 64.1 Kilo Tons by 2028, exhibiting a CAGR of 4% during 2023-2028.
- On the basis of the types, the market has been divided into hydrolases, oxidoreductases, transferases, and others.
- Based on the application, the market has been categorized into food and beverages, cleaning agent, biofuel production, agriculture and feed, biopharmaceuticals, and others.
- On the basis of the source, the market has been classified into microorganisms, plants, and animals.
- Based on the country, the market has been categorized into Germany, France, the United Kingdom, Italy, Spain, and Others.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
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