The North America biocatalysts market reached a volume of 37,769 Tons in 2019. Looking forward, IMARC Group expects the market to reach a volume of 51,195 Tons by 2025, registering a CAGR of 5.2% during 2020-2025.Biocatalysts are biological (non-human) materials that initiate or modify the rate of chemical reaction in a living body. They can operate under mild conditions and are biodegradable and organic in nature, with high catalytic efficiency. Biocatalysts have wide-ranging applications across various industries, including food and beverage, pharmaceuticals, detergents, and textiles. Lipase, protease, cellulase, and amylase are some of the commonly used biocatalysts.
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The North American biocatalyst market is primarily driven by the rising environmental concerns, which have led to an increase in the demand for biocatalysts for the production of biochemicals, biofuels, and other biomaterials. The use of biocatalysts for waste reduction has also proliferated their demand, due to their high efficiency in several end use industries within the region. Furthermore, the extensive utilization of biocatalysts for extending the shelf-life of food and beverages has propelled the growth of the market. These factors, coupled with the increasing investment in the research and development (R&D) activities by manufacturers, are expected to create a positive outlook for the North American biocatalyst market in the coming years.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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