GCC Biocatalyst Market to Reach 1,410 Tons by 2032, Propelled by the Rapidly Expanding Biotechnology Field

September 16, 2022 | Chemical & Materials

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The latest report by IMARC, titled “GCC Biocatalyst Market Report by Type (Hydrolases, Oxidoreductases, Transferases, and Others), Application (Food and Beverages, Cleaning Agent, Biofuel Production, Agriculture and Feed, Biopharmaceuticals, and Others), Source (Microorganisms, Plants, Animals), and Country 2024-2032”, finds that the GCC biocatalyst market size reached 960 Tons in 2023. Biocatalysts refer to microbes or enzymes in living organisms, including plants, animals, and microorganisms, which aid in enhancing or modifying the rate of a chemical reaction. They are capable of catalyzing or initiating chemical reactions in a living body. They are organic and biodegradable, containing a high catalytic efficiency and the capability to function under mild conditions. In recent years, biocatalysts have gained traction in the GCC region due to their widespread adoption in the pharmaceutical industry to produce antibodies, statins, amino acids, and vitamins.

GCC Biocatalyst Market Trends:

One of the primary factors driving the market is the significant growth in the field of biotechnology. Additionally, biocatalysts are extensively adopted for various industrial and commercial applications on account of their environment-friendly nature. Other than this, the increasing awareness about numerous advantages of biocatalysts and their environmental sustainability is augmenting the demand for biocatalysts in various industry verticals, including food and beverage (F&B), starch processing, textiles, and detergents. Besides this, biocatalysts are widely used in the production of biopharmaceuticals and biofuels, thus driving market growth across the GCC countries. Furthermore, key players are focusing on introducing a variety of enzyme products in the market to expand their consumer base. Moreover, lesser synthetic production pathways, rising environmental awareness, reduced waste, and co-products are propelling the market growth. Other growth-inducing factors include extensive research and development activities (R&D) performed by key players, constant technological improvements and numerous collaborations of key players with foreign companies. Looking forward, IMARC Group expects the market to reach 1,410 Tons by 2032, expanding at a CAGR of 4.3% during the forecast period (2024-2032).

Market Summary:

Based on the type, the market has been divided into hydrolases, oxidoreductases, transferases, and others.
On the basis of the application, the market has been segmented into food and beverages (F&B), cleaning agent, biofuel production, agriculture and feed, biopharmaceuticals, and others.
Based on the source, the market has been segregated into microorganisms, plants, and animals.
Region-wise, the market has been classified into Saudi Arabia, UAE, Qatar, Oman, Kuwait, and Bahrain.
The competitive landscape of the market has also been analyzed, along with detailed profiles of the key players operating in the industry.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	Kilo Tons
Segment Coverage	Type, Application, Source, Country
Countries Covered	Saudi Arabia, UAE, Qatar, Oman, Kuwait, Bahrain
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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GCC Biocatalyst Market to Reach 1,410 Tons by 2032, Propelled by the Rapidly Expanding Biotechnology Field

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