According to the latest report by IMARC Group, titled "United States Biocatalyst Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the United States biocatalyst market reached a value of US$ 2.9 Billion in 2021. Biocatalyst refers to a biodegradable organic enzyme present in various biological sources, including plants, animals, and microorganisms that assists in optimizing chemical reaction rate and converting organic compounds. It exhibits non-toxic, stereoselectivity and sustainable properties, which, in turn, offers high catalytic efficiency and the ability to operate under mild conditions, while consuming minimal energy. On account of these properties, biocatalysts are extensively used in the pharmaceutical sector to manufacture several medicines, such as amino acids and statins. Apart from this, they are also utilized as enzymes in baked food products to modify dough rheology and crumb softness. At present, some of the commonly deployed biocatalysts include lipase, cellulose, amylase, bacteria, and proteases.
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.
United States Biocatalyst Market Trends:
The increasing need for sustainable solutions for producing biopharmaceuticals and biofuels through saccharification and starch liquefication represents the key factor primarily driving the United States biocatalyst market growth. Biocatalysts utilize unrefined feedstock in biodiesel production with lesser energy use, which is further facilitating their demand as a popular eco-friendly alternative to fossil fuels. In line with this, the growing environmental concerns, along with the implementation of favorable initiatives undertaken by the Federal Government of the United States (US Federal Government) promoting the uptake of renewable and eco-friendly raw materials to reduce greenhouse gas (GHG) emissions is propelling the market growth. Additionally, the extensive deployment of various biocatalysts, such as carbohydrates, lipase and proteases in the food and beverage (F&B) industry for enhancing the shelf-life of the products is acting as another growth-inducing factor. Additionally, ongoing technological advancements have facilitated the demand for biocatalysts in the chemical synthesis process due to their various beneficial properties, including easy separation and limited side reaction, which, in turn, is contributing to the market growth. Other factors, such as rapid industrialization, significant growth in the field of biotechnology, and extensive funding in research and development (R&D) activities to introduce advanced biocatalyst technology, are creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 4.5 Billion by 2027, growing at a CAGR of 7.80% during 2022-2027.
- Based on the type, the market has been classified into hydrolases, oxidoreductases, transferases, and others.
- On the basis of the application, the market has been segregated into food and beverage, cleaning agents, biofuel production, agriculture and feed, biopharmaceuticals, and others.
- Based on the source, the market has been divided into microorganisms, plants, and animals.
- On a regional basis, the market has been categorized into Northwest, Midwest, South, and West.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
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