Global Biosynthesis of Cannabinoids Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Biosynthesis of Cannabinoids Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Cannabinoids are found in the cannabis plant, they can be produced in biosynthesis way. While biosynthesis has not yet proven itself as a scalable technology, it has the potential to radically alter the way cannabinoids are manufactured in the near future. These compounds are the exact same as what cannabis expresses.

Market Overview:

The latest research study on the global Biosynthesis of Cannabinoids market finds that the global Biosynthesis of Cannabinoids market reached a value of USD 144.39 million in 2022. It’s expected that the market will achieve USD 312.6 million by 2028, exhibiting a CAGR of 13.74% during the forecast period.

Reducing manufacturing cost

Cannabis has been cultivated and used worldwide for thousands of years. Research has found that some cannabinoids have significant medicinal and commercial value. Among them, cannabidiol (CBD), an extract of cannabis, has a great effect on the treatment of various diseases.

The current production method of cannabinoids is still plant extraction, not only the cost is high, but the yield cannot be guaranteed, and the potential beneficial compounds with low content are even more difficult to obtain application. However, the new fermentation process using yeast to synthesize cannabinoids is not only cheaper, but also has the opportunity to achieve large-scale precision production, which may subvert the current cannabinoid production methods.

Saccharomyces cerevisiae, a microorganism with a diameter of only 8 microns, implanted it with a high-yield cannabinoid gene, and then put the yeast with the cannabinoid gene placed in the fermentation tank, and the yeast becomes a cell factory, which can be brewed like wine Cannabinoids.

In addition, some cannabinoids are difficult to obtain because the content in the plant is too low. This new biotechnology is expected to solve this problem.

Legal restrictions

Marijuana is illegal in many countries and regions, and medical marijuana or recreational marijuana is legal in some regions, although the legality of marijuana is constantly advancing. But there is no doubt that it is still subject to legal restrictions, especially in the short term, including biosynthetic cannabis. Changes in local government laws are also difficult to control, which also makes companies in the industry need to bear certain risks.

Region Overview:

In 2022, the share of the Biosynthesis of Cannabinoids market in North America stood at 74.09%.

Company Overview:

Gingko Bioworks is one of the major players operating in the Biosynthesis of Cannabinoids market, holding a share of 30.33% in 2020.

Gingko Bioworks

Headquartered in Boston, Ginkgo Bioworks uses the most advanced technology on the planet – biology – to grow products instead of manufacturing them. It designs custom microbes for customers across multiple markets, and build its foundries to scale the process of organism engineering using software and hardware automation.

Teewinot Life Sciences

Teewinot Life Sciences is a global leader in the biosynthetic development and production of cannabinoids and their derivatives for consumer and pharmaceutical products. The Company is leveraging a unique integrated biocatalytic and chemical synthesis platform, that allows the production of an unprecedented range of cannabinoids and cannabinoid NCEs from bench to cGMP manufacturing.

Segmentation Overview:

By type, THC segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Food Industry, with a market share of 48.15% in 2022.

Key Companies in the global Biosynthesis of Cannabinoids market covered in Chapter 3:

Hyasynth Bio
Demetrix
Teewinot Life Sciences
Librede
Biotii Technologies Corp.
InMed Pharmaceuticals
Gingko Bioworks
Renew Biopharma

In Chapter 4 and Chapter 14.2, on the basis of types, the Biosynthesis of Cannabinoids market from 2018 to 2029 is primarily split into:

THC
CBD
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Biosynthesis of Cannabinoids market from 2018 to 2029 covers:

Food Industry
Medical Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)