Biotech Ingredients Market to Grow at a Rate of 8.3% by 2028 | Reports and Data

Biotech Ingredients
Biotech Ingredients

The Global Biotech Ingredients market is forecasted to reach USD 3.03 Billion by 2027, according to a new report by Reports and Data. In recent years, there has been an elevating demand for organic and natural products among consumers. The shift in consumer buying patterns is one of the mentionable factors supporting the growth of the market.

The continuously expanding cosmetic and personal care sector and the above-motioned changing consumer behavior is resulting in an increasing emphasis on R&D activities to develop these ingredients. As per a review of Swiss scientists, approximately 50 biotech ingredients existed for applications in cosmetic and personal care as of 2018. However, the constant emphasis on advancements of these ingredients and the launch of various new offerings on the market have resulted in an increase in the number of the ingredients presently available for such applications.

Leading Players– Bell Flavors & Fragrances, Inc., Advanced Biotech, Sigma-Aldrich (Millipore Sigma), Frutarom Industries Limited, International Flavors & Fragrance (IFF), Inc., Givaudan SA, Firmenich SA, T.Hasegawa Co., Ltd., Hayashibara Co., Ltd. and Amyris, Inc.

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Further key findings from the report suggest

  • In regards to Source, the Yeast segment held a significant market share of more than 35.0% in 2019. The yeast is considered as one of the most versatile tool in biotechnology, which has resulted in its extensive use in manufacturing this product contributing to the market share held by this segment.
  • In context of Flavor, the Natural flavor segment is projected to occupy more than 40.0% of the market by 2027. The market share occupied by the Natural flavor segment is attributed to increasing demand for sustainable and bio-based products among consumers, which is resulting in growing popularity of natural flavors.
  • In context to Application, the Cleaning and household products segment is projected to witness a considerable growth rate of 8.8% during the forecast period. The growth rate witnessed by the Cleaning and household products segment is attributed to increasing awareness regarding health and hygiene, particularly in developing regions, which is resulting in increasing demand for these products contributing to the growing demand for these ingredients for these products.
  • In November 2019, when the company announced that it had applied its breakthrough biotechnology for producing a sustainable version of the company’s tested Ambrofix fragrance ingredient. The biotechnology used by the company includes fermenting sugar that are sustainably sourced to produce the ingredient that the company claims is completely naturally derived, and it is totally renewable carbon.

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Source Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Yeast
  • Bacteria
  • Filamentous Fungi
  • Others

Flavor Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Natural flavor
  • Synthetic flavor

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

  • Foods and Beverages
  • Cleaning and household products
  • Personal care and cosmetics
  • Others

Frequently Asked Questions Addressed in the Report:

  • What is the estimated market revenue growth over the forecast period?
  • What are the major factors driving the global Biotech Ingredients market revenue growth?
  • Which regional market is expected to account for the largest revenue share in the global Biotech Ingredients market over the forecast years?
  • Which are the leading players in the global Biotech Ingredients market?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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