[FURL=https://www.industryarc.com/Report/16435/biocatalysis-biocatalysts-market.html]Biocatalysis & Biocatalysts Market[/FURL] size is forecast to reach $120 billion by 2025, after growing at a CAGR of 5.1% during 2020-2025. Biocatalysts are defined as substances of biological (non-human) origin that are capable of catalyzing a wide range of reactions. In addition to the ability to operate under mild conditions, they are organic, biodegradable, and have high catalytic efficiency. Owing to this, they are used for various industrial and commercial applications.Key Takeaways
North America dominates the biocatalysis & biocatalysts market owing to the increasing demand for the biocatalysis & biocatalysts from the major end-use industries in Europe and growing research and development activities in the region.
Traditionally biocatalysis & biocatalysts were used to convert biologically derived (or renewable) feedstock. However, in recent times they are being widely used in the production of biofuels, biopharmaceuticals, and paper & pulp.
Moreover, in industries such as food and beverages, detergents, starch processing, and textiles, increasing awareness of the benefits of biocatalysts and their environmental sustainability has stimulated their demand. As a result, the market is further expected to grow during the forecast period.
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Biocatalysis & biocatalysts Market Segment Analysis - By Geography
North America held the largest share in the biocatalysis & biocatalysts market in 2019 up to 36%, owing to the increasing demand for biocatalysis & biocatalysts from the food & beverage industry in the region. Biocatalyst is extensively used to aid food processing in a wide variety of applications, for example in the manufacturing of cheese, vinegar, and wine, the leavening of bread, brewing of beer, and more. In these processes, enzymes help to save energy and resources, as well as improve the overall efficiency. According to the United States Department of Agriculture (USDA), in 2017, Agriculture, food, and related industries contributed $1.053 trillion to U.S. gross domestic product (GDP), a 5.4-percent share.
Biocatalysis & Biocatalysts Market Drivers
Increasing Personal Care & Cosmetic Industries
Increasing Biopharmaceutical Industry
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the biocatalysis & biocatalysts market. In 2019, the market of biocatalysis & biocatalysts has been consolidated by the top five players accounting for xx% of the share. The major key players in the biocatalysis & biocatalysts market are Novozymes, Koninklijke DSM N.V., Codexis, Inc., Chr. Hansen A/S, Amano Enzyme Inc., E. I. du Pont de Nemours and Company, Biosyntha Technology Ltd., Biocatalysts Ltd., and Piramal Group.
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