The increasing environmental concerns and health risks associated with synthetic chemicals have driven the demand for sustainable and eco-friendly solutions. Biocatalysis, employing enzymes or whole cells as biocatalysts, has emerged as a powerful alternative. This review provides a comprehensive analysis of the applications of biocatalytic enzymes in food packaging, biomedical sciences, and biotechnology. We highlight the potential of enzymes like laccase, glucose oxidase, lysozyme, protease, lipase, cellulase, and asparaginase to replace traditional chemical methods, driving innovation and sustainability. The global enzyme market is also analyzed, including current trends, emerging demands, and the impact of the COVID-19 pandemic. This review aims to bridge knowledge gaps, emphasize recent technological breakthroughs, and showcase the potential of biocatalytic enzymes to address critical industrial challenges while supporting environmental sustainability and economic growth.