A process is provided for rapidly producing target concentrations of peroxycarboxylic acids from carboxylic acid esters. More specifically, carboxylic acid esters are reacted with a source of peroxygen, such as hydrogen peroxide, in the presence of an enzyme catalyst comprising an enzyme having identity to an acetyl xylan esterase from Lactococcus lactis having perhydrolysis activity. The polypeptide is an enzyme structurally classified as a member of the carbohydrate esterase family 7 (CE-7). The peroxycarboxylic acids produced by the present process can be used in disinfecting, bleaching, and other laundry care applications. Compositions comprising the reaction components and the peroxycarboxylic acids produced by the process are also provided.