White Biotechnology Market to Reach US$ 299.9 Billion by 2027

White biotechnology finds application in the production of biochemicals, biofuels, and biomaterials. Butanediol, lactic acid, succinic acid, levulenic acid, and acrylic acid are some of the examples of biochemicals. Biofuels are produced from carbohydrates of sugar and starch crops. Biomaterials include, biopolymers, bioplastics, and others.

Statistics:

The global white biotechnology market is estimated to account for US$ 299.9 Bn in terms of value by the end of 2027.

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Global White Biotechnology Market: Drivers

Adoption of biomaterials in the healthcare sector is expected to propel growth of the global white biotechnology market over the forecast period. For instance, in October 2019, researchers from Institute of Pharmacology and Toxicology, Technische Universität Dresden, Germany, reported that naturally prefabricated marine biomaterials can aid in development of new sponge chitin-based absorbable hemostats as alternatives to cellulose-based fabrics.

Global White Biotechnology Market: Opportunities

Increasing demand for organic food is expected to offer lucrative growth opportunities for players in the global white biotechnology market. For instance, according to 2019 Organic Industry Survey by the Organic Trade Association, Organic food sales in the U.S. increased 5.9% in 2018 to reach US$ 47.9 billion and organic food sales made up 5.7% of overall food sales, which rose 2.3% in 2018

Global White Biotechnology Market: Restraints

Higher cost of bioproducts compared to conventional products is expected to hinder growth of the market. For instance, polylactic acid can be 20 to 50 percent more costly than comparable materials. The higher cost of bioproducts is associated with complex manufacturing products.

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Key Takeaways:

The global white biotechnology market was valued at US$ 207.5 Bn in 2019 and is forecast to reach a value of US$ 299.9 Bn by 2027 at a CAGR of 4.7% between 2020 and 2027. Adoption of biomaterials in the healthcare sector is expected to propel growth of the global white biotechnology market over the forecast period.

Biofuel segment held dominant position in the global white biotechnology market in 2019, accounting for 34.7% share in terms of value, followed by Biochemical and Biomaterial, respectively. Increasing investment in biofuel manufacturing, and adoption of expansion strategies from major companies.

Market Trends

Players in the market are focused on testing the real-world efficacy of biodiesels. For instance, in February 2020, Archer Daniels Midland Company, under a partnership to conduct a year-long validation project of biodiesel technology for high-mileage fleet applications, announced that the company’s five trucks will be outfitted with Optimus Technologies’ Vector fuel system, a technology that enables diesel engines to operate on sustainable biodiesel.

Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in September 2019, BASF SE acquired Isobionics, a developer of natural flavors and fragrances and other biotechnology solutions.

Global White Biotechnology Market: Competitive Landscape

Major players operating in the global white biotechnology market include, Archer Daniels Midland Company, BASF SE, Cargill, Inc., Corbion N.V., Koninklijke DSM N.V, DuPont, Lesaffre, Novozymes, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., iCAD, Inc., InVivo Corporation, McKesson Corporation, Merge Healthcare Incorporated (IBM), Philips Healthcare, Samsung Medison Co. Ltd., Siemens Healthcare, and Toshiba Medical Systems Corporation.

Global White Biotechnology Market: Key Developments

March 2020: Koninklijke DSM N.V partnered with UPM Biofuels, a producer of sustainable raw materials, to reduce the environmental footprint of Dyneema, a fiber, by converting Dyneema into bio-based feedstock

June 2019: Corbion Biotech, Inc. partnered with The Lubrizol Corporation for the launch of AlgaPur high stability high oleic algae oil in the personal care and cosmetics markets

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Segmentation

Scope of the report

Global White Biotechnology Market, By Product Type:
Biochemical
Biofuel
Biomaterial
Bioproduct
Global White Biotechnology Market, By Application:
Food & Feed
Pharmaceuticals
Pulp & Paper
Textile
Energy
Others
Global White Biotechnology Market, By Feedstock Type:
Grains & Starch Crops
Agricultural Residues
Food Waste
Forestry Material
Animal by-product
Energy Crops
Urban & Suburban Waste

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