The Europe biocatalyst market size reached 52.4 Kilo Tons in 2023. Looking forward, IMARC Group expects the market to reach 72.1 Kilo Tons by 2032, exhibiting a growth rate (CAGR) of 3.5% during 2024-2032.
Report Attribute
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Key Statistics
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---|---|
Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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52.4 Kilo Tons |
Market Forecast in 2032
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72.1 Kilo Tons |
Market Growth Rate 2024-2032 | 3.5% |
Biocatalysts refer to enzymes or microbes that accelerate or initiate chemical reactions in a living body. Generally present in plants, animals and microorganisms, they help modify the rate of chemical reactions and the conversion of organic compounds. They are biodegradable and organic in nature while being characterized by superior catalytic efficiency. Consequently, they are utilized to manufacture statins, antibodies, amino acids and vitamin supplements in the pharmaceutical industry.
The market in Europe is primarily driven by an enhanced focus on sustainable development. This has impelled multiple key players in the region to engage in partnerships and merger and acquisition (M&A) activities to create numerous growth opportunities in the market. Other factors, such as extensive research and development (R&D), along with rapid substitution of chemical catalysts with biocatalysts across industries and technological advancements in the product process, are creating a positive outlook for the market further across the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe biocatalyst market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on type, application and source.
Breakup by Type:
Breakup by Application:
Breakup by Source:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Coverage:
Report Features | Details |
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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 | Germany, France, United Kingdom, Italy, Spain, Others |
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) |
The Europe biocatalyst market reached a volume of 52.4 Kilo Tons in 2023.
We expect the Europe biocatalyst market to exhibit a CAGR of 3.5% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several European nations resulting in temporary closure of numerous end-use industries for biocatalysts.
The rising demand for biocatalyst in the production of biofuels and biopharmaceuticals owing to its environment sustainability is primarily driving the Europe biocatalyst market.
Based on the type, the Europe biocatalyst market can be categorized into hydrolases, oxidoreductases, transferases, and others. Currently, hydrolases account for the majority of the total market share.
Based on the application, the Europe biocatalyst market has been segregated into food and beverages, cleaning agent, biofuel production, agriculture and feed, biopharmaceuticals, and others. Among these, food and beverages currently hold the largest market share.
Based on the source, the Europe biocatalyst market can be bifurcated into microorganisms, plants, and animals. Currently, microorganisms exhibit a clear dominance in the market.
On a regional level, the market has been classified into Germany, France, United Kingdom, Italy, Spain, and others, where Germany currently dominates the Europe biocatalyst market.