According to the latest report by IMARC Group “White Biotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global white biotechnology market reached a value of US$ 257.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 479.9 Billion by 2027, exhibiting a CAGR of 11.5% during 2022-2027.
White biotechnology refers to the implementation of ergonomics and bioengineering in industrial processes. It uses agricultural wastes and biocatalysts, such as enzymes and microorganisms, for developing degradable and bio-based products. White biotechnology is primarily adopted to produce essential bioactive compounds, pigments, metabolites, citric acid, glycerin, and acetone. Biocatalysts are also utilizedin the chemical, water treatment, and agro-food industries to manufacture antibiotics, paper pulp, and advanced polymers.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The extensive applications of white biotechnology across various sectors can be largely attributed to its associated advantages, such as eco-friendly nature, efficient production methods, reduced manufacturing costs, and low waste generation. The rising environmental consciousness has further escalated the demand for green chemicals and biofuels for personal and industrial consumption, which is supporting the global white biotechnology market growth. Additionally, governments of various nations are introducing stringent policies to reduce factory-related carbon emissions, which is catalyzing market growth. Various innovations, such as the development of bioinspired calcium phosphate cement to glue tissues to polymeric biomaterials, are fueling the market growth further.
Breakup by Product:
- Biofuels
- Biochemicals
- Biopolymers
Breakup by Application:
- Bioenergy
- Food and Feed Additives
- Pharmaceutical Ingredients
- Personal Care and Household Products
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Archer Daniels Midland Company
- BASF SE
- Cargill Inc.
- DuPont de Nemours Inc.
- Fujifilm Holdings Corporation
- General Electric Company
- Henkel AG & Co. KGaA
- Kaneka Corporation
- Koninklijke DSM N.V.
- Lonza Group AG
- Mitsubishi Corporation
- Novozymes A/S.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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