Biocatalyst Global Market 2024 To Reach $0.75 Billion By 2028 At Rate Of 7.4%
Biocatalyst Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Biocatalyst Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 25, 2024 /EINPresswire.com/ -- The biocatalyst market has experienced robust growth in recent years, expanding from $0.53 billion in 2023 to $0.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increased demand for sustainable manufacturing practices, high application in pharmaceuticals and food industries, expanded research and development activities, rise in awareness about environmental concerns, technological innovations, and regulatory support.
Strong Future Growth Anticipated
The biocatalyst market is projected to continue its strong growth, reaching $0.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increasing demand for sustainable manufacturing processes, expanding applications in pharmaceuticals and biofuels, the emergence of new enzyme engineering technologies, growing focus on green chemistry initiatives, rising adoption of biocatalysts in the agriculture sector, and evolving regulatory landscape.
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Growth Driver Of The Biocatalyst Market
The rising shift towards natural food products is expected to propel the growth of the biocatalyst market going forward. Natural food products are food substances produced without synthetic chemicals, pesticides, or genetically modified organisms (GMOs), and they are minimally processed and free from artificial additives. Demand for natural food products is on the rise due to several factors, including increasing health consciousness among consumers and a growing need for transparency in the food supply chain. Biocatalysts, such as enzymes, facilitate biochemical reactions in natural food products, improving processes such as fermentation, flavor enhancement, and preservation.
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Major Players And Market Trends
Key players in the biocatalyst market include BASF SE, F. Hoffmann-La Roche AG, Evonik Industries AG, Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen Holding A/S.
Major companies operating in the biocatalyst market are focused on developing advanced solutions, such as nucleases, to enhance the efficiency of biotechnological processes and cost-effective manufacturing practices across various industries. A nuclease is a type of biocatalyst, which is an enzyme that facilitates biochemical reactions. Nucleases catalyze the hydrolysis of the phosphodiester bonds within nucleic acids, such as deoxyribonucleic acid (DNA) and ribonucleic acid (RNA), leading to their degradation into smaller components.
Segments:
1) By Type: Oxidoreductases, Transferases, Hydrolases, Other Types
2) By Sources: Plants, Animals, Microorganisms
3) By Application: Food And Beverages, Cleaning Agent, Biofuel Production, Agriculture And Feed, Biopharmaceuticals, Other Applications
Geographical Insights: North America Leading The Market
North America was the largest region in the biocatalyst market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biocatalyst market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Biocatalyst Market Definition
Biocatalysts are biological molecules, typically enzymes, that facilitate chemical reactions in living organisms or in vitro systems. They accelerate the rate of reactions by lowering the activation energy required for the reaction to occur without being consumed in the process. These are widely used in various industries, including pharmaceuticals and environmental remediation, due to their specificity, efficiency, and environmentally friendly nature.
Biocatalyst Global Market Report 20241 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Biocatalyst Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on biocatalyst market size2, biocatalyst market drivers and trends, biocatalyst market major players, biocatalyst competitors' revenues, biocatalyst market positioning, and biocatalyst market growth across geographies. The biocatalyst market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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