Press release
Biotech Ingredients Market Reach US$ 72.6 Billion by 2027 | CAGR of 5.16%
The global biotech ingredients market reached a value of US$ 53.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 72.6 Billion by 2027, exhibiting a CAGR of 5.16% during 2022-2027. Biotech ingredients consist of genetically engineered microbes, such as yeast, enzymes, algae, and bacteria, that undergo deoxyribonucleic acid (DNA) editing. The process employs cold pressing, steam distillation, and solvent extraction techniques to convert substrates into complex products. As compared to synthetically processed ingredients, biotech ingredients are more cost-effective, reliable, cruelty-free, and sustainable in nature. They also exhibit better quality control, promote the multiplication of natural active compounds on the skin, and eliminate harmful chemicals found in plant-based beauty products.
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Market Trends
The widespread adoption of biotech ingredients in several cosmetic products is primarily driving the market growth. This is further supported by the shifting preference toward safe, potent, and advanced cosmetics, which has prompted manufacturers to invest in research and development (R&D) activities to introduce next-generation beauty products. Other than this, they are adopting new waste recycling strategies and eco-conscious alternatives to reduce the carbon footprint of raw materials, which is contributing to the market growth. Moreover, extensive product applications in the food and beverage (F&B) industry as an emulsifying agent is creating a positive outlook for the market.
COVID-19 Impact:
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.
Global Biotech Ingredients Market 2021-2026 Analysis and Segmentation:
Breakup by Type:
Yeast
Algae
Others
Breakup by Application:
Food and Beverages
Personal Care and Cosmetics
Cleaning 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:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
AbbVie Inc.
Advanced Biotech
Amyris Inc.
Becton Dickinson and Company
Bell Flavors & Fragrances Inc.
Bruker Corporation
Evolva AG
Evonik Industries AG
GlaxoSmithKline plc.
International Flavors & Fragrances Inc., Merck KGaA and Sanofi SA.
Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
Explore full report with table of contents: https://www.imarcgroup.com/biotech-ingredients-market
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.
If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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IMARC Group
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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