White Biotech Market Forecasts to 2028 – Global Analysis By Product (Biopolymers, Biofuels and Other Products), End User (Electronics and Semiconductor, Consumer Goods And Services and Other End Users) and By Geography

White Biotech Market Forecasts to 2028 – Global Analysis By Product (Biopolymers, Biofuels and Other Products), End User (Electronics and Semiconductor, Consumer Goods And Services and Other End Users) and By Geography

According to Stratistics MRC, the Global White Biotech Market is accounted for $205.38 billion in 2022 and is expected to reach $432.15 billion by 2028 growing at a CAGR of 13.2% during the forecast period. The use of scientific and technical ideas forms the foundation of biotechnology. Industrial biotechnology is another name for white biotechnology. In order to produce bio-based products that may be used in a variety of industries, including chemicals, bio-energy, home care, food and feed, and pharmaceuticals, this method makes use of enzymes and microorganisms. The advantages of white biotech products in everyday life and the negative consequences of greenhouse gas emissions from non-biological products are not commonly known to end users in emerging and impoverished nations.

According to a report shared by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, by 2022, 45 billion liters of biodiesel will be produced worldwide, up from 37 billion in 2020.

Market Dynamics:

Driver:

Wide market application with different functionality

White biotechnology has seen a growth in demand from end users over the past few years as a result of a growing understanding of its uses and numerous benefits, which include eco-friendliness, reduced manufacturing costs, little waste formation, and maximum raw material utilisation. Consumer demand for green chemicals, especially in developed nations, is forcing manufacturers to adopt white biotechnology rather than conventional chemical production processes. Furthermore, the development of polymer production technology, notably from biomass, has created profitable opportunities in the biochemical market over the past few years.

Restraint:

Declining fertility of agricultural lands could hold back development

The production status of bio crops may soon be lost due to factors such as the growing population, the scarcity of agricultural land, small landholdings, and declining soil fertility. The fertility of agricultural areas also decreased due to the misuse and incorrect application of fertilisers to crops, which has led to the depletion of that fertility. Because there is uncertainty over the production yield, which is expected to restrict market expansion, the prices of bio-crops have also fluctuated due to excessive fertiliser use. The current degree of nutrient-use efficiency is still quite low for the majority of nutrients. As a result, falling land fertility is limiting the production of bio crops, which could restrict the market's growth throughout the projection period.

Opportunity:

Demand for bio plastic is surging

Global demand for bio-based and biodegradable polymers reached 960,000 metric tonnes. The bioplastics industry, though still in its infancy, has established itself as a cornerstone in a number of commercial industries and applications. Due to consumer preferences for eco-friendly materials, a growth in the usage of bioplastics by plastic processors and compounders, and the launch of new products that expand the benefits of bioplastics, demand is anticipated to rise significantly in almost all geographic areas.

Threat:

Lower adoption of biofertilizers

The global white biotechnology market is anticipated to experience slower growth due to lower adoption of biofertilizers compared to traditional fertilisers in both developed and emerging economies. Increased desire for conventional fertilisers is a result of declining soil fertility and growing food demand. Additionally, it is anticipated that lesser adoption of biofuels relative to conventional fuels will also restrain market expansion. This is caused by the variable supply of biofuels and the superior performance of conventional fuels over biofuels.

Covid-19 Impact

The COVID-19 pandemic had a huge impact on the pharmaceutical industry's innovation in the white biotechnology market, which suggests a successful market expansion in the sector. The growing consumer demand for green chemicals, particularly in developed regions like North America and Europe, is expected to drive manufacturers to use white biotechnology processes rather than conventional chemical manufacturing. Over the projection period, it is anticipated that the demand for technology would increase due to the growing pressure on various consumer industries, such as the automotive and consumer goods sectors, to fulfil the sustainability targets.

The biochemicals segment is expected to be the largest during the forecast period

The biochemicals segment is estimated to have a lucrative growth, as a result of stricter laws, environmental concerns, and customer demand for more sustainable products. As a result, producers of cleaning products including those for the home have been decreasing their carbon footprints for years by lowering suggested product temperatures, reducing packaging, and increasing the number of bio-based components.

The healthcare segment is expected to have the highest CAGR during the forecast period

The healthcare segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing technological use in the production of biopharmaceuticals, particularly antibodies for cancer treatment that cannot be produced through chemical synthesis. Additionally, the creation of chiral molecules and other challenging-to-synthesize intermediates, including active pharmaceutical ingredients (API), is made possible by the enzymes used in this method.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the availability of biotechnologically altered food ingredients. In this approach, players contribute money to nearby companies. Additionally, product contamination results in variable potency and poor product quality, which restrict the growth of the Chinese biotech and pharmaceutical industry.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. Food demand is rising due to an increase in both human and livestock populations. As urban areas are encroaching on agricultural grounds, it puts pressure on how land is used. These international trends provide biotechnology with the opportunity to boost agricultural production.

Key players in the market

Some of the key players profiled in the White Biotech Market include Global Bioenergies, Solazyme, Borregaard, BioAmber., Fermentalg, Amyris, Codexis, Deinove, Novozymes, Metabolic Explorer, Evolva, Gevo, Kerry Group plc and BASF SE.

Key Developments:

In March 2022, Kerry Group plc (Kerry), an Ireland-based public food company, acquired 92% of the issued share capital of c-Lecta for $134.8 million (€ 137M). With this acquisition, Kerry's innovative capabilities in enzyme engineering, fermentation, and bioprocess development will be accelerated.

In March 2021, BASF Venture Capital (BVC) invested in Bota Biosciences Ltd (Bota Bio), an industrial synthetic biotech company located in Hangzhou, China, which develops next-generation biotechnology platforms, enabling sustainable and economical production of high-value products for a broad array of industrial applications, like sweeteners, vitamins, personal care, or crop protection products.

Products Covered:
• Biopolymers
• Biofuels
• Biochemicals
• Industrial Enzymes
• Other Products

End Users Covered:
• Electronics and Semiconductor
• Consumer Goods And Services
• Healthcare
• Agriculture
• Hospitality & Tourism
• Automotive
• Automation and Process Control
• Aerospace And Defense
• Food and Beverage
• Chemicals & Materials
• Energy and Resources
• Information Technology
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements