Market Research Report
Sophorolipid Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type and Application
|Published by||The Insight Partners||Product code||983306|
|Published||Content info||127 Pages
Delivery time: 1-2 business days
|Sophorolipid Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type and Application|
|Published: November 27, 2020||Content info: 127 Pages||
The global sophorolipid market was valued at US$ 374.85 million in 2019 and is projected to reach US$ 547.02 million by 2027; it is expected to grow at a CAGR of 5.0% from 2020 to 2027.
Sophorolipids are potential biosurfactants as they have qualities such as biodegradability and low eco-toxicity. Sophorolipid are extracted from natural sources and are expected to be an alternative to petrochemicals such as detergents and pesticides. It is expected that the efficacy of sophorolipid in breaking down oil into droplets will increase market penetration in untapped markets as dispersants of oil. Sophorolipid is useful in hard surface cleaning and automatic dishwashing rinse aid formulations. It has potential use in additional applications owing to its low foaming profile and surface activity properties. Sophorolipid is widely used in agriculture products such as pesticides and other chemicals, in detergents for residential, medical, and healthcare usage, in personal care and cosmetic products such as shampoo, hash wash liquids, and soap. The demand for sophorolipid is increasing from various end-use industries such as oil and energy, agriculture, chemical, pharmaceutical, medical and healthcare, and consumer goods; therefore the market is booming.
Based on type, the sophorolipid market is bifurcated into lactonic sophorolipid and acidic sophorolipid. The acidic sophorolipid segment accounted for a larger share in market in 2019, and lactonic sophorolipid segment is expected to register a higher CAGR during 2020-2027. Acidic sophorolipids are amphiphilic molecules; thus, they possess the characteristics of surfactants. As biosurfactants, they have various potential advantages over synthetic surfactants such as lower toxicity, higher biodegradability, and low-cost manufacturing capacity. Acidic forms are stronger foaming agents with higher water solubility and are used in the dairy, cosmetics, and bioremediation industries. Acid sophorolipid (ASL), a bola amphiphilic substance, confers a surfactant to a crude sophorolipid. The two hydrophilic ends of the oleic acid hydrophobic skeleton contain sophorose and a carboxylic group that makes ASL an outstanding drug delivery vehicle comparable to other bola amphiphiles. ASL is a simple, water-soluble, mono-component, and stimulus-responsive molecule.
Based on geography, the global sophorolipid market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. In 2019, Europe held the largest share in the global market, followed by North America and Asia Pacific. Germany is dominating the sophorolipid market in Europe, followed by the UK and France. Economically developed European countries such as Germany, the UK, and Russia witness significant growth in the implementation of technologically advanced solutions. Other than the chemical industry, various industries such as pharmaceutical, polymers, agrochemicals, and cosmetics and detergents are growing across the region, which bolsters the growth of sophorolipids market in Europe. The growing demand for sophorolipids from various industries such as oil & gas, medicine and pharmaceuticals, cosmetics and detergents, agriculture, and food industry drive the sophorolipids market growth in Germany. Furthermore, the presence of prominent market players such as allied carbon solutions and many others is another factor influencing the market growth.
The COVID-19 outbreak was first reported in Wuhan, China, in December 2019. As of November 2020, China, Italy, Iran, Spain, republic of Korea, France, Germany, and The US are among the worst affected countries in terms of COVID-19 confirmed cases and reported deaths. According to the latest WHO figures updated in November, there are ~54,771,888 confirmed cases and ~1,324,249 total deaths globally. Lockdowns, travel bans, and business shutdowns are adversely affecting economies and industries in various countries. The global chemicals and materials industry is one of the major industries that are suffering due to supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries, and it is also one of the worst affected countries due to the outbreak. The lockdown of various plants and factories in leading regions such as North America, Europe, and Asia Pacific is restricting the global supply chains and hindering the manufacturing activities, delivery schedules, and various goods sales. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnership opportunities. All these factors are adversely affecting the chemicals and materials industry, and are restraining the growth of various markets related to this industry.
Allied Carbon Solutions Co., Ltd; Givaudan; Evonik Industries AG; Holiferm; Saraya Co., Ltd; and Mg Intobio Co., Ltd. are among the players operating in the global sophorolipid market.
The overall size of the global sophorolipid market has been derived using primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global sophorolipid market.
Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global sophorolipid market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.