PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299764
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1299764
White Biotech Market size was valued at USD 280,901.7 Million in 2022, expanding at a CAGR of 20.3% from 2023 to 2030.
White Biotech also known as industrial Biotech uses biocatalysts, such as microorganisms and enzymes to manufacture bio-based and degradable goods by implementing the scientific principles of Biotech in industrial settings. Additionally, it is traditionally used to produce several important secondary metabolites, pigments, bioactive compounds, organic substances, such as acetic acid, acetone, citric acid, and glycerin, and antibiotics, including mitomycin, penicillin, and streptomycin. Moreover, it is also utilized for producing biodegradable plastics, bio-based fuel, metabolites, sustainable energy, and waste treatment.
The rising demand for green chemicals and biofuels such as biodiesel and bioethanol globally, is a major factor projected to drive the market demand of white Biotech. Additionally, among the masses of the increasing environmental consciousness, consumers are increasingly demanding premium green renewable products for industrial and personal consumption, particularly in developed economies. This in turn expected to propel the white Biotech market. However, less adoption of biofertilizers as compared to conventional fertilizers may restrain the market growth over the forecast period.
Moreover, the use of microalgae and bacteria for the biosynthesis of structures and nanomaterials, such as bacterial exopolysaccharides, nanowires, and nanocellulose is anticipated to boom the market growth. The COVID-19 pandemic significantly affected the white Biotech market in terms of pharmaceutical industry innovation. The increasing consumer demand for green chemicals is willing to pay a huge price or a green premium for various renewable products, which is expected to push manufacturers to employ white Biotech processes as compared to traditional chemical manufacturing. The increasing need from several consumer industries such as consumer goods and automotive to achieve the target is anticipated to boost the technology demand.
The global white Biotech market is segmented on the basis of product type, application, feedstock type, and region.
The market is divided into three categories based on product type: biofuels, biochemicals, and biopolymers. The biofuel sector is likely to possess the market. Biofuel types include biodiesel and bioethanol. In the automotive industry, increasing the use of biodiesel in its purest form is expected to boost the segment growth.
The market is divided into four categories based on application: food & feed additives, pharmaceutical ingredients, bioenergy, personal care & household products, and others. The pharmaceutical ingredients sector is expected to hold the largest market share. In the manufacturing of biopharmaceuticals increasing use of technology, especially antibodies for the treatment of cancer, which cannot be produced via chemical synthesis is likely to drive the segment demand.
The market is divided into seven categories based on feedstock type: grains & starch crops, agricultural residues, food waste, and forestry material. Animal-by-product, energy crops, and urban & suburban waste. The food waste sector is expected to dominate the market. The segment has gained surging attention from national, international, and public organizations owing to substantial environmental, social, and economic apprehensions, the depletion of fossil reserves, and climate variation.
Several innovations, including polymeric biomaterials and the development of bioinspired calcium phosphate cement to glue tissues to metallic, are contributing to the market growth. Additionally, other factors, such as extensive R&D activities in the field of Biotech, coupled with the implementation of favorable government policies, are anticipated to increase the market toward growth. A key trend gaining popularity in the white Biotech market is technological advancements. For instance, in March 2022, Kerry Group plc (Kerry) a company, had announced it had acquired 92% of the issued share capital of c-LEcta. Moreover, Kerry's innovation capabilities will surge by this strategically compelling combination in bioprocess development, enzyme engineering, and fermentation.
This proposed research study on white Biotech market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for white Biotech market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the white Biotech market.
Impact of COVID-19 on white Biotech market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on white Biotech market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the white Biotech market, we have also included competitive landscape and key innovator analysis for the white Biotech market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the white Biotech market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global white Biotech market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
The scope of this report covers the market by its major segments, which include as follows: