The Global Biocatalysts Market to Grow at a CAGR of 5.6% during 2022-2027
According to Arizton’s latest research report, “Biocatalysts Market - Global Outlook & Forecast 2022-2027,” by Type (Carbohydrases, Proteases, Polymerases & Nucleases, Lipases, Phytases, and Other), End Use (Pharmaceutical, Food & Beverages, Animal Nutrition, Household, and Others), and Geography: (North America, Europe, APAC, Latin America, and the Middle East & Africa). The global biocatalysts market is expected to cross USD 729.03 million by 2027.
The changing clinical practices used in the pharmaceutical industry drive the drug market. The pharmaceutical market accounted for USD 143.82 billion in 2021. This, in turn, shows the increasing demand for enzymes in the pharmaceutical industry. The demand for biocatalysts used in the pharmaceutical industry is also growing rapidly. The changing COVID-19 variants and aging population increase the drugs demand globally. The lowering of trade barriers for pharmaceutical drugs used in the US caused a surge in the global pharmaceutical demand. Thus, the biocatalysts demand is increasing for drug manufacturing. The changing regulations of carbon emission in the US and Europe increased the demand for bio-based pharmaceutical products and biofuel all over the world. Due to government policies, the rising prices of crude oil and the use of biofuel in blending fuels drive the biocatalysts market in US, Brazil, and APAC countries.
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The global carbohydrase-based biocatalyst is expected to reach $231.03 million by 2027.
In the food & beverages industry, biocatalysts have been used for hundreds of years. Commercial biocatalysts are produced from microbial, plants, and animals. There is a huge demand for bakery biocatalysts in the market for extending shelf life, especially in Europe and North America. Biocatalyst manufacturing companies are developing new designs to improve bakery food quality. Moreover, the rapidly increasing population of middle-class people contributed to the increasing demand for food and beverage products, as the use of biocatalysts helps reduce the toxicity & volume of by-products.
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Several types of enzymes are used in the market, including proteases. Carbohydrases are primarily used as biocatalysts in the food industry. Carbohydrases are becoming increasingly popular in industrial applications. Carbohydrases are in high demand in APAC, compared to Europe. People are becoming more health conscious, and as a result, they prefer bio-based food products. As a result, carbohydrase enzymes are in high demand in the food industry.
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There is huge competition among vendors for altering the biocatalysts to use in particular industries as per the demand. To fulfilling the customer’s demand, companies are finding innovative products. For the development & manufacturing of new biocatalysts, a good facility is required. Thus, the competition among vendors is very high for manufacturing quality products. Although international and local vendors diversify the market, there are huge difficulties for local vendors to compete with international vendors due to a lack of technology and facilities. In the future, the competition is expected to increase due to product extension and technological innovation. This is a huge opportunity for new players due to the complex structures and changing technology.
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