According to the latest report by IMARC Group, titled "India Biocatalyst Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India biocatalyst market is expected to grow at a CAGR of 7.88% during 2022-2027. A biocatalyst refers to a substance that activates the conversion of organic compounds and modifies the rate of chemical reactions. Additionally, it is also added to substrates in order to produce desired products. It is a form of an enzyme that is generally found in living organisms, such as microorganisms, animals and plants. Besides this, it is produced via various microbiological approaches, including cloning technologies, environmental DNA sampling and genetic manipulation. In comparison to a conventional catalyst, it is organic and biodegradable, exhibits a high reaction and specificity rate, and reacts to mild environmental conditions while being non-toxic in nature.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Biocatalyst Market Trends:
The market in India is primarily driven by significant growth in the pharmaceutical industry. Coupled with the growing demand for biocatalysts in the manufacturing of numerous pharmaceutical drugs, this is creating a positive market outlook. Besides this, with the increasing health consciousness among individuals, there has been a considerable rise in the demand for biocatalysts in the preparation of nutrient-rich food products as well as to enhance the shelf-life of various food and beverage items. Along with this, the growing adoption of biocatalysts to cater to the increasing demand for bio-based petroleum products is providing an impetus to the market growth. Moreover, the widespread utilization of biocatalysts to convert low-value agricultural products into high-value commercial food and industrial products is impacting the market favorably. Other factors, including rapid industrialization, an enhanced focus on sustainable development, the development of artificial enzymes to treat several chronic diseases and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across India.
- On the basis of type, the market has been segmented into hydrolases, oxidoreductases, transferases and others.
- Based on the application, the market has been segregated into food and beverages, cleaning agent, biofuel production, agriculture and feed, biopharmaceuticals and others.
- Based on the source, the market has been classified into microorganisms, plants and animals.
- On the basis of the region, the market has been divided into North India, West and Central India, South India and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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