Biotechnology Based Chemicals Market: Global Industry Analysis and Forecast (2023-2029),

Biotechnology Based Chemicals Market size was valued at US$ 95.87 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 10.4% through 2023 to 2029, reaching nearly US$ 191.63 Bn.

Biotechnology Based Chemicals Market Overview:

Lactic acid, threonine, polyhydroxyalkanoates, lysine, and glutamic acid are examples of biotechnology-based compounds. Glutamic acid is a cosmetic component that aids in skin hydration and is used in the production of body lotions and facial creams. Bioethanol, Bio-Lubricants, Bio-Solvents, and Bio-Alcohols are some of the types of biotechnology based chemicals. Food & Beverage, Pharmaceuticals, Agriculture, and Packaging are the industries that use biotechnology based chemicals.Biotechnology Based Chemicals MarketTo know about the Research Methodology :- Request Free Sample Report

Biotechnology Based Chemicals Market Dynamics:

In research and development (R&D) laboratories, many manufacturers have increased their investment. This is owing to the increased adoption of biotechnology applications in agriculture, food processing, energy production, waste treatment, and bioremediation. Biotechnology uses techniques like fermentation, tissue culture, and genetic engineering to create products. Farmers are increasingly adopting genetically engineered crop-based agriculture as a consequence of several government programs for green revolutions, which has provided many lucrative chances for the biotechnology-based chemical market. The growing adoption of biotechnology-based chemicals in the pharmaceutical and food & beverage industries is attributed to the increasing demand for animal feed, growing government and key player investment in research and development, and rising adoption of biotechnology-based chemicals in the pharmaceutical and food & beverage industries. Fluctuations in raw material prices, as well as the development and approval of new plant biotechnology, all of which come at a high cost, may hamper the growth of the global market during the forecast period 2023-2029. Growing demand for polylactic acid (PLA) plastics will necessitate more lactic acid supply. This, in turn, is expected to boost the growth of the global market during the forecast period. When compared to petroleum products, industrial biotechnology offers procedures with lower carbon footprints and greenhouse gas emissions (GNG). Compared to synthetic procedures, these are cleaner and use less energy. Due to this factor, the market for biotechnology-based chemicals is expected to rise. Due to rapid industrial biotechnology advances and rising crude oil prices, biotechnology-based chemicals products, which are a niche operation in terms of world chemical production, are expected to see substantial development. This aspect is expected to increase the market penetration of biotechnology-based chemicals.

Biotechnology Based Chemicals Market Segment Analysis:

Based on the Type, the market is segmented into Bioethanol, Bio-Lubricants, Bio-Solvents, Bio-Alcohols, and Others. Bioethanol segment is expected to hold the largest market share of xx% by 2029. Bio-ethanol is a clear, colorless liquid that is both biodegradable and environmentally friendly. The automobile industry uses bio-ethanol primarily as an octane enhancer for decreasing engine knocking. The increased use of bioethanol in bio-alcohols for the manufacture of personal care and cosmetics goods is expected to drive the growth of this segment in the global market. Medical formulations, smell processing, fragrance, and formulations all use bioethanol. These are the key factors that are expected to boost the growth of the Bioethanol segment in the global market during the forecast period 2023-2029. Based on the Application, the market is segmented into Food & Beverage, Pharmaceuticals, Agriculture, Packaging, and Others. The pharmaceuticals segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. The global trend toward bio-based products, combined with end-use applications in the pharmaceutical, is expected to be a major driver of market growth for biotechnology-based chemicals. This is due to the natural medications are in higher demand than synthetic chemicals, the pharmaceutical industry is the largest user of biotechnology-based chemicals. During the forecast period, rising awareness of the negative impacts of chemical medicine consumption is expected to boost the growth of the global biotechnology-based chemicals market.

Biotechnology Based Chemicals Market Regional Insights:

The Asia Pacific dominates the Global Biotechnology Based Chemicals market during the forecast period 2023-2029. The Asia Pacific is expected to hold the largest market share of xx% by 2029. This is due to the rising pharmaceutical sector in emerging economies such as China and India. During the forecast period, rising citric acid demand from China's food and beverage industry is expected to boost the region's biotechnology-based chemicals market growth. North America and Europe are expected to grow rapidly at a CAGR of xx% and xx% during the forecast period 2023-2029. In North America and Europe, the market for biotechnology-based chemicals is expected to rise due to a shift in consumer preferences towards bio-based products as a result of increased awareness about the health risks associated with non-bio-based products. Due to increased lysine utilisation as a supplement in swine and poultry feeds, the dominant animal feed industry presence in China and the United States is expected to support market growth over the forecast period. Many biorefineries already operate in the United States, processing corn into sugars, oils, food ingredients, and animal feeds. The objective of the report is to present a comprehensive analysis of the Global Biotechnology Based Chemicals Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Biotechnology Based Chemicals Market dynamic, structure by analyzing the market segments and project the Global Biotechnology Based Chemicals Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Biotechnology Based Chemicals Market make the report investor’s guide.

Biotechnology Based Chemicals Market Scope: Inquiry Before Buying

Biotechnology Based Chemicals Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 95.87 Bn.
Forecast Period 2023 to 2029 CAGR: 10.4% Market Size in 2029: US $ 191.63 Bn.
Segments Covered: by Type • Bioethanol • Bio-Lubricants • Bio-Solvents • Bio-Alcohols • Others
by Application • Food & Beverage • Pharmaceuticals • Agriculture • Packaging • Other

Biotechnology Based Chemicals Market, by Region

North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)

Biotechnology Based Chemicals Market Key Players

• BASF SE • Vertec BioSolvents • AGAE Technologies, LLC • TOTAL • BioAmber Inc. • Archer Daniels Midland Company • DowDuPont • Braskem SA • Evonik Industries • Toray Industries Inc. • Cargill, Incorporated • Itaconix PLC • GFBiochemicals Ltd • Mitsubishi Chemical Corporation • Royal DSM NV Frequently Asked Questions: 1. Which region has the largest share in Global Biotechnology Based Chemicals Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Biotechnology Based Chemicals Market? Ans: The Global Biotechnology Based Chemicals Market is growing at a CAGR of 10.4% during forecasting period 2023-2029. 3. What is scope of the Global Biotechnology Based Chemicals Market report? Ans: Global Biotechnology Based Chemicals Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Biotechnology Based Chemicals Market? Ans: The important key players in the Global Biotechnology Based Chemicals Market are – BASF SE, Vertec BioSolvents, AGAE Technologies, LLC, TOTAL, BioAmber Inc., Archer Daniels Midland Company, DowDuPont, Braskem SA, Evonik Industries, Toray Industries Inc., Cargill, Incorporated, Itaconix PLC, GFBiochemicals Ltd, Mitsubishi Chemical Corporation, and Royal DSM NV 5. What is the study period of this Market? Ans: The Global Biotechnology Based Chemicals Market is studied from 2022 to 2029.
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