Biotech Ingredients Market Report by Type (Yeast, Algae, and Others), Application (Food and Beverages, Personal Care and Cosmetics, Cleaning Products, and Others), and Region 2024-2032

Biotech Ingredients Market Report by Type (Yeast, Algae, and Others), Application (Food and Beverages, Personal Care and Cosmetics, Cleaning Products, and Others), and Region 2024-2032

The global biotech ingredients market size reached US$ 59.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 89.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.

Biotech ingredients are prepared using organisms like algae, yeast or bacteria that undergo deoxyribonucleic acid (DNA) editing to enhance the metabolic process of microbes. They are cost-effective and generate a low environmental impact than ingredients processed using petrochemicals. They act as a sustainable alternative to formulate plant-based extracts, which can counteract oxidative damages and slow down the aging process. Consequently, cosmetics companies worldwide are extensively using biotech ingredients to develop and evaluate the activity of natural active components on the skin.

Biotech Ingredients Market Trends:

A considerable shift in consumer preferences towards safe, potent, advanced and ef cacious cosmetics solutions represents one of the key factors encouraging the adoption of biotech ingredients to produce new cosmetic formulas, ranging from hyaluronic acid to collagen. Additionally, the escalating demand for organic and sustainable products is promoting the utilization of biotech ingredients in hybrid skincare products. The leading market players are also investing in research and development (R&D) to introduce innovative products. For instance, they are focusing on biomimetics, 3D bioprinting and plant tissue culture technologies to develop next-generation beauty products. In line with this, they are recycling, sterilizing and disposing of the waste generated during the production process, which helps in reducing the carbon footprint of raw materials. Apart from this, biotech ingredients are gaining traction in the food and beverage (F&B) industry for adding flavors and improving enzymes and emulsifiers applications. Furthermore, the usage of these ingredients is anticipated to rise in the pharmaceutical industry to formulate active ingredients from natural sources.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biotech ingredients market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and application.

Breakup by Type:

• Yeast
• Algae
• Others

Breakup by Application:

• Food and Beverages
• Personal Care and Cosmetics
• Cleaning Products
• Others

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 industry has also been examined along with the profiles of the key players being 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 Questions Answered in This Report

1. What was the size of the global biotech ingredients market in 2023?

2. What is the expected growth rate of the global biotech ingredients market during 2024-2032?

3. What are the key factors driving the global biotech ingredients market?

4. What has been the impact of COVID-19 on the global biotech ingredients market?

5. What is the breakup of the global biotech ingredients market based on the type?

6. What is the breakup of the global biotech ingredients market based on the application?

7. What are the key regions in the global biotech ingredients market?

8. Who are the key players/companies in the global biotech ingredients market?