Biocatalyst Market To Generate $925.2 Million Revenue by 2030

The biocatalyst market size is expected to advance at a CAGR of 6.3% during 2024–2030, to reach USD 925.2 million by 2030.

Biocatalysts are essentially natural catalysts used in chemical reactions to elevate their efficiency in various industrial applications. They reflect a growing focus on environmental responsibility, economic viability, and operational excellence in various industries. Owing to their various benefits, these enzymes are increasingly being used in food & beverages, cleaning agents, agrochemicals and animal feed, and other products. Additionally, over the past few years, bio-processes have begun replacing fossil-based resources; in line, bio-enzymes sourced from microorganisms are being used as an eco-friendly option.

Growing Usage of Oxidoreductases for Boosting Sustainability

Oxidoreductases held a revenue share of 25% in the global biocatalyst market in 2023 as they are used in pharmaceuticals, chemicals, agriculture, and environmental management. Due to their diverse substrates, they can be used in different biocatalytic progressions, by heterogenous and homogeneous catalysis. In addition, these enzymes are biodegradable and efficient, due to which they are used as a substitute for other chemical catalysts for industrial applications. Additionally, oxidoreductases offer novel functionalities, reduce resource consumption, and help achieve sustainability. As a result, these chemicals are being used to produce textiles, drugs, food products, and chemicals.

Europe held a significant market share due to its established pharmaceutical industry, where consistent R&D investments are being put in to develop more-effective medications. According to a European government source, the region’s pharmaceutical sector accounts for the highest R&D investment-to-net sales ratio. Further, the regional health industry invested about USD 223.3 billion in R&D in 2020, accounting for more than 20.8% of the total pharma business R&D expenditure worldwide.

Strategic Developments by Pharma Companies

In February 2023, Zymtronix and Ginkgo Bioworks signed a partnership agreement to optimize the enzymes used on its cell-free platform to produce food, agrochemical, cosmetic, and pharmaceutical ingredients.

Moreover, in 2021, BASF SE launched an advanced biobased feed enzyme, Natupulse TS, which is a non-starch polysaccharide (NSP) that increases the digestibility of nutrients and ensures more-sustainable and cost-effective production.

Growing Personal Care & Cosmetics Industries

The heightening personal care awareness, coupled with the growing disposable income, is strengthening the demand for bio-based skin and personal care products across the world. To meet the consumer demand for chemical-free skincare products, various cosmetics and personal care companies are investing in bio-based raw materials, which, in turn, is increasing the demand for bio-enzymes.

For instance, in October 2022, a carbon capture company, LanzaTech, partnered with Givaudan, a fragrance and beauty ingredient manufacturer, to develop new generations of ethanol-based, sustainable fragrance ingredients. The increasing personal care ingredient awareness of manufacturers and consumers is expected to propel the growth of the biocatalyst market in the coming years.

The biggest biocatalyst market players are Codexis Inc., DuPont de Nemours Inc., Koninklijke DSM N.V., Novozymes, BASF SE, Amano Enzyme Inc., Biocatalysts Limited, AB Enzymes GmbH, Lonza Group Ltd., and Chr. Hansen Holding A/S.