Industrial Biotechnology Market Growth 2022-2030: Rising Concerns About Greenhouse Gas Emission, High Crude Oil Prices, And Low Biofuel Costs
The global industrial biotechnology market size is expected to reach USD 852.55 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Reports and Data. Rise in demand for new approaches to prevent pollution, conserve resources, and increase application in biofuels is driving market revenue growth.
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If fully developed, industrial biotechnology might have a bigger global impact than medical services and agriculture biotechnology. It enables companies to minimize costs and grow their markets while still protecting the environment. Furthermore, since many industrial biotechnology products do not require the lengthy review times that drug products must undergo, it's quicker, and easier, which is driving market revenue growth. Today, new industrial processes can be taken from lab study to commercial application in two to five years, as compared to almost a decade it took earlier.
The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Companies profiled in global market report include:
BASF SE, Amyris, Inc, Borregaard AS, Global Bioenergies, Codexis, Inc., Deinove SAS, Fermentalg, Evolva, Gevo, Inc., and Novozymes.
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Some Key Highlights from the Report
- In April 2020, Amgen Inc. and Adaptive Biotechnologies partnered to research and produce antibodies to combat the COVID-19 pandemic. The collaboration will combine Amgen's experience in the fields of novel antibody treatment and immunology with Adaptive's patented immune medicine platform to find virus-neutralizing antibodies and create promising new medicines against SARS-CoV-2.
- Biofuel segment accounted for largest revenue share in 2021. Fuels that have been extracted from plants and crops are known as biofuels. As prices of crude oil are soaring day by day, most people are switching to biofuels to save money and reduce their dependence on crude oil. Biofuels are produced from wheat, corn, soybeans, and sugarcane, which can be produced again and again on demand, so they are sustainable. It also helps in reducing greenhouse gases up to much extent by emitting less pollution.
- Agricultural residues segment accounted for largest revenue share in 2021. Agricultural residues are rich in bioactive compounds. Agro-industrial wastes are used for manufacturing biofuels, enzymes, vitamins, antioxidants, animal feed, antibiotics, and other chemicals through solid-state fermentation (SSF). The use of agro-industrial wastes as raw materials can help to reduce the production cost and reduce the pollution load from the environment. Such factors are contributing to growth of the segment.
- Food and feed segment is expected to register a rapid growth rate during the forecast period. Production of feed and inorganic supplements is energy-intensive and the undigested nutrients excreted by the livestock into the environment lead to pollution problems. Enzymes are capable of degrading complex components in the feed, and addition of industrially produced enzymes increases energy and nutrient value of feed and reduces emissions into the environment, thus driving segment revenue growth.
- Market in Europe accounted for largest revenue share in 2021. Substantial funds invested by the government for research and development (R&D) in the field and growing demand for green products and chemicals from consumers are principal factors driving market growth in the region.
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For the purpose of this report, Reports and Data has segmented industrial biotechnology market based on type, raw material, application, and region:
Type Outlook (Revenue, USD Billion; 2019 – 2030)
- Biofuel
- Biochemical
- Biomaterial
- Bioproduct
Raw Material Outlook (Revenue, USD Billion; 2019 – 2030)
- Grains & Starch Crops
- Agricultural Residues
- Food Waste
- Forestry Material
- Animal By-product
- Energy Crops
- Urban & Suburban Waste
Application Outlook (Revenue, USD Billion; 2019 – 2030)
- Food & Feed
- Pharmaceuticals
- Pulp & Paper
- Textile
- Bio Energy
- Others
Regional Outlook (Revenue, USD Billion; 2019 – 2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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