According to Report, the global white biotechnology market size is expected to be worth around US$ 587.08 billion by 2030 and expected to garner growth at a CAGR of 20.2% during the forecast period 2021 to 2030.
According to Report, the global white biotechnology market size is expected to be worth around US$ 587.08 billion by 2030 and expected to garner growth at a CAGR of 20.2% during the forecast period 2021 to 2030.
Growth Factors
Rising awareness and emphasis for the adoption of greener and environment-friendly technologies in various end-use industries is expected to drive the market over the next eight years.
Biofuels accounted for over 35% of the market in terms of revenue on account of rising government regulations to include the product in combination with conventional energy sources including diesel and gasoline. Growing product use in the agricultural sector is likely to drive the demand over the next eight years.
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Rising biodiesel demand as a raw material for the manufacturing of resins, and polymers will fuel industry growth over the forecast period. Volatility of crude oil prices is expected to encourage various manufacturers in the market to increase biofuel production over the next eight years which in turn will propel technology demand.
Increasing technology use in the manufacturing of various high-value products such as base chemicals, consumer chemicals and specialty chemicals is expected to positively impact industry growth. In addition, rising concerns regarding depletion of oil reserves and non-degradability of synthetic resources derived from oil are expected to boost the adoption of this technology in various regions particularly North America and Europe.
| Report Coverage | Details |
| Market Size by 2030 | US$ 587.08 Billion |
| Growth Rate from 2021 to 2030 | CAGR of 20.2% |
| Base Year | 2021 |
| Forecast Data | 2022 to 2030 |
| Largest Market | North America |
Report Highlights
The global market has been segmented by products into biofuels, biochemicals, and biopolymers. Biofuels processed from white biotechnology was valued at over 35% of the total revenue in 2020. Biofuel types include bioethanol and biodiesel. Rising use of biodiesel in its pure form in the automotive industry particularly in the U.S. and European countries to reduce the level of particulates, hydrocarbons, and carbon monoxide is expected to fuel demand over the forecast period.
Bioethenol is widely manufactured using white biotechnology. It is primarily used as a fuel to improve vehicle efficiency and as a gasoline additive to improve the octane rating of a vehicle. The growth of the automotive sector primarily in Germany is expected to fuel process need over the forecast period.
Global shift to bio-economy to reduce the production cost and raw material cost was the major driver for the growth of biochemical market. Several chemical manufacturers aim to reduce their dependency on fossil-based oil as principal raw material for chemical production. This, advancement in polymer development technology from biomass has created lucrative opportunities in biochemicals market in the recent past. Biochemicals find extensive commercial application in personal care products, food, coating, textiles, etc.
Pharmaceutical ingredients are expected to be one of the fastest growing applications of white biotechnology at a CAGR of 13.3% from 2016 to 2024. Rising technology use in the manufacturing of biopharmaceuticals particularly antibodies for cancer treatment, which cannot be manufactured via chemical synthesis is expected to fuel demand over the forecast period. In addition, enzymes used in this process enable the production of chiral compounds and other intermediates that are difficult to synthesize such as expansion of the pharmaceutical industry, particularly in Europe, is expected to fuel the market over the next eight years.
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Bioenergy was the largest application segment estimated at over USD 80 billion in 2020. Continuous efforts by major companies in developed economies including North America and Europe to develop various clean energy sources to meet growing demand and reduce dependency on oil-producing countries in order to reduce the cost of fuel imports is expected to have a positive impact on the white biotechnology process over the forecast period.
Usage of several enzymes and materials obtained from white biotechnology has increased significantly in the production of food and feed additives. Superior performance of white biotechnology derived products coupled with excellent biocompatibility is anticipated to bolster the demand for white biotechnology in food & feed additive application.
North America is currently the largest regional market for this technology, accounting for over 35% of the overall market revenue in 2015. Considerable funds by the government for R&D in the field and rising demand for green products and chemicals from consumers are the key factors that have strengthened North America’s position in the global market.
Enzymes play a key role in ongoing efforts in Europe and the U.S. to exploit and use biomass as a feedstock for production of high-value biofuels, biopolymers, and biochemicals from renewable resources. Rising use of biomass is an effective alternative to petroleum and is expected to have a positive impact on the environment, fuel economic growth, and reduce increased reliance on petroleum imports which in turn is expected to propel the technology demand over the forecast period.
Healthy growth of the chemical industry has driven considerable demand for high performance chemicals obtained from renewable feedstock. This, in turn, has led to augmented demand for biochemical in Europe in the past few years. Biochemical product segment is estimated to be the largest revenue-generating segment of the white biotechnology market in Europe in the next few years, expanding at a CAGR of 8.9% between 2016 and 2024.
Key Players
Amyris, BioAmber, Borregaard, Codexis, Deinove, Evolva, Fermentalg, Gevo, Global Bioenergies, Metabolic Explorer, Novozymes, and Solazyme
Market Segmentation
Global White Biotechnology Product Outlook
- Biofuels
- Biomaterials
- Biochemicals
- Industrial enzymes
Global White Biotechnology Application Outlook
- Bioenergy
- Food & Feed Additives
- Pharmaceutical Ingredients
- Personal care & Household Products
- Others
Global White Biotechnology Regional Outlook
- North America
- U.S
- Europe
- Germany
- France
- Asia Pacific
- China
- India
- Latin America
- Brazil
- Middle East and Africa
- UAE
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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