Biocatalyst Market to Reach USD 925.2 Million by 2030, Driven by Eco-Friendly Innovations and Industrial Applications

(MENAFN- P&S Intelligence) In 2023, the biocatalyst market was valued at USD 607.6 million and is projected to grow at a CAGR of 6.3% from 2024 to 2030, reaching USD 925.2 million by 2030.

Biocatalysts, derived from biological sources, offer an eco-friendly alternative to petroleum-based synthetic catalysts used in various industrial sectors. They are crucial in producing specialty and commodity chemicals.

The advancement of cost-effective genetic engineering techniques has significantly boosted their production. These bio-enzymes facilitate precise reactions, resulting in desired outcomes with minimal waste and fewer by-products, enhancing their appeal in industrial processes.

Biocatalysts are increasingly utilized in biotransformation procedures and have become vital across nearly all industries, particularly in chemicals and pharmaceuticals. The growth of profitable and ecological chemoenzymatic processes depends heavily on the widespread availability and applicability of high-performance enzymes, regardless of environmental conditions.

Biocatalysis ensures that compound molecules are produced with high accuracy while adhering to strict quality standards, making them indispensable in the pharmaceutical sector, where precision and quality are crucial.

Key Applications and Regional Insights

Prominent Industrial Applications:

• Stereospecific compounds (also known as chiral compounds) are widely used in pharmaceuticals, aromas, and fragrances.

• Chiral hydroxyl moieties are present in various active pharmaceutical ingredients (APIs) and are used in producing numerous chemicals for pharmaceuticals.
Regional Outlook:

• Hydrolases in 2023:

o Held 40% of industry revenue.
o Essential in biological processes like lipases, amidases, and proteases.
o Used in approved medications for Alzheimer's, diabetes, and communicable diseases.
o Incorporated in detergent formulations to remove blood and protein stains, ensuring clean clothes.

• Food & Beverages Category in 2023:

o Accounted for 25% of revenue share among biocatalyst applications.
o Crucial in food processing and additive production.
o Widely used in brewing, bakery, dairy, meat, beverages, and sugar sectors.
o Favored due to increasing ecological awareness and sustainability requirements, providing enhanced effectiveness and safety.
o Sustainability is achieved through operation under mild conditions, reduced energy use, and minimized waste and by-products.
o Continuous innovation allows biocatalysis to adapt and meet diverse market needs efficiently.

• Microorganisms in 2023:

o Contributed USD 0.2 billion to the industry.
o Expected to show significant growth.
o Microbial enzymes are cost-effective, scalable for large-scale production, and have high enzyme content.
o Efficient in accelerating reactions, producing diverse compounds, and offering cost advantages.

• North America in 2023:

o Emerged as the largest revenue contributor to the global biocatalyst industry.
o Projected to maintain substantial growth.
o Growth driven by the strong pharmaceutical and food sectors in the region.
o The United States and Europe lead the global pharmaceutical industry, with the US capturing 49.1% and Europe 23.4% of the global pharmaceutical market turnover in 2021.
o According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the US and Europe accounted for 64.4% and 16.2%, respectively, of new drug launches between 2016 and 2021.

MENAFN23072024005304011875ID1108475291