20th December 2019 – The global White
Biotechnology Market size is expected to value at USD 487.08 billion by
2024. The market is subject to witness a substantial growth due to the rise in
adoption of white biotechnology for production of various biofuels like
bioethanol and biodiesel. In addition, white biotechnology plays a vital role
during production of essential chemical products such as organic acids, amino
acids, ethanol and various types of vitamins, thus propelling the market growth
in the recent years. Globally, the white biotechnology industry is predicted to
grow at CAGR of 10.2% in forecast period, providing numerous opportunities for
market players to invest in research and development of the white biotechnology
sector.
Increasing adoption of biotechnology
market in healthcare sector and pharmaceutical industry coupled with reduced
manufacturing cost of drugs and various chemical products are expected to drive
market demand for white biotechnology over the forecast period. Additionally,
ecofriendly nature of white biotechnology, easy availability of essential raw
materials, advanced production methods, declined production costs, and minimum
waste generation are some of the critical factors driving market growth, since
the last decade.
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Growing end-user demand for organic
chemicals, especially in the North American and European region, due to
numerous advantages over non-organic products and shifting trend towards
renewable products are anticipated to fuel deployment of biotechnology process
instead of conventional chemical manufacturing methodologies.
Furthermore, increasing demand from
different end-user market segments such as automobile industry and packaged
food sector to achieve required sustainability and flexibility is predicted to
boost market growth in the upcoming years. The white biotechnology technique is
considered as highly cost effective and efficient in comparison with
conventional non-organic chemical processes that largely uses of non-renewable
energy sources. In addition, the white biotechnology is considered as simple
process involving least number of production steps and produces minimum residue
after the completion. Unlike other types of chemical process, the white
biotechnology is not affected by price volatilities of raw materials. These
advantages are estimated to foster the growth of white biotechnology market in
years to come.
The white biotechnology industry is
broadly categorized into two major types based on application sector such as
pharmaceutical sector, bioenergy sector and others. Pharmaceutical sector is
considered as one of the faster growing segment in the white biotechnology
market with substantial revenue generation in the last couple of years. Growing
demand for white biotechnology in the pharmaceutical sector is attributed to
the large-scale manufacturing of biopharmaceutical drugs & medicines that
are vital for cancer treatment; these drugs acts as the antibodies that cannot
be manufactured via chemical process. Hence, these factors are projected to
propel the growth of pharmaceutical segment over the forecast period.
Bioenergy segment has also witnessed
massive growth in the last few years, owing to the high-end demand from North
American and European region for organic chemicals. Other factors positively
affecting market growth for bioenergy market segment include growing need to reduce
dependency on petroleum products. In addition, rising adoption of biomass as an
effective alternative to petroleumis expected to fuel market expansion of
bioenergy market segment.
The white biotechnology industry is
divided by region as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the rise
in the implementation of latest technologies in pharmaceuticals & medicine
sector, favorable government’s laws & regulation, decline in the petroleum
imports, and existence of well-established infrastructure.
Asia-Pacific region is predicted to hold
major market share in the white biotechnology market with massive growth in
forecast period. Countries such as India, China, Japan and Singapore are
leading the Asia-Pacific market with rising consumer demand for green products
and chemicals, recent improvements in domestic healthcare infrastructure,
strong economic growth and significant investment by leading industry players
considering potential growth opportunities in the region.
The key players in the white
biotechnology industry are Amyris, Inc., BioAmber, Inc., Borregaard Ltd.,
Codexis, Inc., Deinove S.A., Evolva Holding S.A., Fermentalg S.A., Gevo, Inc.,
Global Bioenergies S.A., Metabolic Explorer S.A., Novozymes A/S, Terumo BCT
Inc., LDL Absorption System and TerraVia Holdings, Inc.
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