Biotech Ingredients Market to Hit US$ 72.6 Billion, Globally, by 2027 at 5.16% CAGR

IMARC Group has recently released a new research study titled "Biotech Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", 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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Biotech ingredients are derived from organisms such as algae, yeast, or bacteria that undergo DNA editing to improve their metabolic process. They are a more cost-effective and environmentally friendly solution than ingredients processed using petrochemicals. They serve as a sustainable substitute for creating plant-based extracts that combat oxidative damage and decelerate aging. As a result, biotech ingredients find extensive applications in beauty companies across the globe to examine and enhance the effectiveness of natural active components on the skin.

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Biotech Ingredients Market Trends and Drivers:

The global biotech ingredients market is primarily driven by the surging adoption of biotech ingredients in creating new cosmetic formulations due to shifting consumer preferences toward safe, effective, and advanced cosmetic solutions. Moreover, the rising use of biotech ingredients in hybrid skincare products owing to the escalating demand for organic and sustainable products is positively influencing the market growth. Additionally, there is a rise in investments in research and development (R&D) activities by key players to introduce innovative products. In line with this, the increasing adoption of biomimetics, 3D bioprinting, and plant tissue culture technologies for next-generation beauty products has catalyzed market growth. Furthermore, the rising popularity of biotech ingredients in the food and beverage (F&B) industry for enhancing flavors and improving the functionality of enzymes and emulsifiers is contributing to the market growth. Other factors, including the rising demand for generic medicines, growing consumer awareness about the negative effects of synthetic ingredients, and rapid growth in the personal care industry, are also anticipated to drive the market further.

Report Segmentation:

The report has segmented the market into the following categories:

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.

Explore full report with table of contents: https://www.imarcgroup.com/biotech-ingredients-market

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