Biocatalysis Market Segmentation grow with a 6.90% CAGR by 2029 Forecast.
Impact of COVID-19 on the market
The recent COVID-19 outbreak first began in Wuhan (China) in December 2019 and has since spread rapidly around the world. China, Italy, Iran, Spain, the Republic of Korea, France, Germany and the United States are among the most affected countries in terms of reported positive cases and deaths, as of March 2020. The COVID-19 outreach has affected economies and industries in various countries due to blockages, travel bans and business closures. The global food and beverage industry is a major industry facing severe disruptions such as supply chain disruptions, technology event cancellations, and office closures due to this epidemic. China is the global manufacturing hub, with the presence and largest suppliers of raw materials. The general market collapse due to COVID-19 is also affecting the growth of the bacon market due to the closure of factories, the obstacle in the supply chain and the slowing of the world economy.
Biocatalysis Market Insight
Ø Data Bridge Market Research analyses that the biocatalysis market will witness a CAGR of 6.90% for the forecast period of 2022-2029.
Ø Biocatalysis is a chemical reaction that involves the use of enzymes and other biological catalysts to react organic compounds. Agriculture and feed, biopharmaceuticals, biofuel generation, food and beverage production, cleaning agents, and other sectors use biocatalysis extensively.
Ø The rising consumer awareness of environmentally friendly products and increased biocatalysis penetration in developing end-use industries, are among the major factors driving the biocatalysis market. Furthermore, technological advancements, and expanding consumer purchasing capacity are some of the factors predicted to accelerate the biocatalysis market forward. Other significant factors including the growing personal care and cosmetic industries coupled with the rising demand from biopharmaceutical sector will cushion the market’s growth rate.
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Biocatalysis Market Segmentation
It is fragmented on the basis of type, and application.
|
Type |
Hydrolases, oxidoreductases, transferases, and others. |
|
application |
Food and beverages, cleaning agents, agriculture and feed, biofuel production, biopharmaceuticals and others. |
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Biocatalysis Market Country Level Analysis
Ø The countries covered in the biocatalysis market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Ø North America dominates the biocatalysis market due to the increasing research and development activities associated with biocatalysis in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the technological advancements and growing demand from various end-use industries in this region.
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Global Biocatalysis and Biocatalysts Market is Expected to Reach 114.41 Kilo Ton by 2025
The major players covered in the Biocatalysis Market are
Ø Novozymes
Ø DSM
Ø Codexis
Ø Piramal Enterprises Ltd.
Ø Amano Enzyme Inc.
Ø BASF SE.
Ø AB Enzymes.
TOC of the report
Chapter One: Introduction
Chapter Two: Market Segmentation
Chapter Three: Market Overview
Chapter Four: Executive Summary
Chapter Five: Premium Insights
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