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Biocatalyst Market Trends, Top Companies, Share, Growth And Forecast 2033
Biocatalyst Market Trends
As per the report, the biocatalyst market size has grown strongly in recent years. It will grow from $0.53 billion in 2023 to $0.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The biocatalyst market size is expected to see strong growth in the next few years. It will grow to $0.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
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Growing Demand For Natural Food Products Fuels Biocatalyst Market Expansion
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. For instance, in June 2022, according to a survey published by the Organic Trade Association (OTA), a US-based business association for the organic industry in North America, it was revealed that organic industry sales surpassed $63 billion, with $1.4 billion (2%) in total growth over the preceding year. Additionally, organic food, which accounted for over 90% of organic product sales, experienced 2% growth, reaching $57.5 billion. Therefore, the rising shift towards natural food products is driving the growth of the biocatalyst market.
Advancing Biotechnological Processes With Nuclease Solutions
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. For instance, in March 2023, Biocatalysts Ltd., a UK-based biotechnology research company, launched Nuclease 46L (N046L). It is an enzyme designed to degrade various nucleic acids from multiple sources. This enzyme offers a cost-effective method for DNA elimination in numerous biotechnology applications. Nuclease 46L enhances this process by efficiently reducing nucleic acids, improving downstream efficiency, and ensuring the final food product is free from nucleic acid residues.
The biocatalyst market covered in this report is segmented -
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
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Major companies operating in the biocatalyst market are BASF SE, F. Hoffmann-La Roche AG, Evonik Industries AG, Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen Holding A/S, Piramal Pharma Solutions, Ginkgo Bioworks Inc., Codexis Inc., BBI Solutions, AB Enzymes GmbH, BRAIN Biotech AG, DuPont Industrial Biosciences, Amano Enzyme Inc., Biosynth Carbosynth AG, BioCat GmbH, Enzyme Development Corporation, Prozomix Limited, evoxx technologies GmbH, Enzymicals AG, Dyadic International Inc., Advanced Enzyme Technologies Ltd., Creative Enzymes, Direvo Industrial Biotechnology GmbH
Contents of the report:
1. Executive Summary
2. Biocatalyst Market Report Structure
3. Biocatalyst Market Trends And Strategies
4. Biocatalyst Market - Macro Economic Scenario
5. Biocatalyst Market Size And Growth
…..
27. Biocatalyst Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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