Biotech Ingredients Market by Latest Trends, Leading Key Players, Future Growth, Revenue, Demand Forecast To 2027

SHARE THIS ARTICLE

The global Biotech Ingredients market size is expected to be worth around US$ 3.01 billion by 2027, according to a new report by Vision Research Reports.

The global Biotech Ingredients market size was valued at US$ 1.60 billion in 2019 and is anticipated to grow at a CAGR of 9.2% during forecast period 2020 to 2027.

Get Sample Copy of This Report (Including TOC, List of Tables & Figures, and Chart)@ https://www.visionresearchreports.com/report/sample/35891

Biotech Ingredients Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications

Growth Factors

The market growth can be attributed to increasing demand for biotech flavors and fragrance ingredients from the food and beverage segment. Flavors and fragrances form an integral component of different types of consumer products as they have a significant impact on consumers’ purchasing decisions.

Growing consumer inclination towards natural and organic products is expected to drive the demand for biotech ingredients over the forecast period.

Commercially, biotech ingredients are derived by genetically modifying microbes, such as yeast and bacteria. Biotech ingredients consist of ,and several other plant extracts, which are manufactured using various techniques, including cold pressing or compression, steam distillation, and solvent extraction.

Report Highlights

In terms of revenue, biotech flavor ingredients accounted for a share of 38.44% in 2019. Flavors can be classified as natural flavors and artificial flavors. Natural flavors are usually sourced from edible essential oils, oleoresins, essence or extract from fruits/fruit juices, spices, vegetables/vegetable juices, herbs, roots, and buds. Artificial or synthetic flavors come from inedible sources, such as petroleum or paper pulp, which are processed to produce aroma chemicals for different flavors.

The natural flavors are difficult to extract and are both time consuming and expensive. Besides, their production is dependent on various factors, such as temperature and climate. Thus, these drawbacks have led the directed research & development teams of the companies to develop different strategies for producing the natural flavor compounds.

In terms of revenue, Europe dominated the biotech fragrance market with a share of 57.66% in 2019. Europe’s high priority for development of bio-based sector along with various strategies and policies to achieve sustainable economic growth is likely to foster the demand for biotech ingredients in the region.
Fragrances are normally derived from plants and are largely dependent on the uninterrupted supply of essential oils for the production of scents for food and drinks, cleaning products, and perfumes. However, a natural disaster or any political disruption can easily affect the supply.
Some of the oils such as patchouli, grapefruit, bitter orange, sandalwood, and rose are difficult to obtain naturally. According to the Chemical and Engineering News, biotech firms like Isobionics Allylix and Evolva have evolved a biotechnological way of genetically engineering yeast and bacteria to produce these plant oils by fermenting sugars.
The skin care segment held the largest share of 51.49% in 2019. Rising global population, along with increasing interest in physical appearance, has led to the growth of the cosmetics market worldwide. Moreover, mounting concerns for aging skin and need for an evenly toned skin are likely to contribute to this growth, which, in turn, is boosting the growth of the global cosmetic ingredients market. However, consumers these days are more concerned about the ingredients being used in cosmetic products. They are shifting towards more natural products derived from natural ingredients.

Changing consumer dynamics have led the cosmetic companies to adopt scientific research and new product developments through sustainable means. Moreover, consumers have become more conscious towards the environment and sustainability issues, which compels these companies to consider this factor while developing new cosmetic ingredients.

In addition, key players in the market are investing in several research and development activities for developing sustainable and innovative products using biotechnology. Moreover, they are entering into strategic alliances with other market players in order to broaden the product portfolio. For instance, in June 2019, Symrise acquired Cutech, an Italian biotech company, which offers screening for cosmetic ingredients and formulations.

In 2019, Europe emerged as the leading market for biotech ingredients in cosmetics and fragrances, accounting for around 37.46% share in the active ingredients market. The growth in the region can be attributed to the development of innovative value chains for producing bio-based ingredients, government initiatives, and increasing production capacities of bio-based chemicals.
North America emerged as the second largest regional market for biotech ingredients. Increasing R&D activities to develop innovative bio-based routes is likely to contribute to the growth of market in this region. Early adoption of biotech ingredients, along with presence of potential industry participants, is likely to boost the regional market growth over the forecast period.

The bio-based economy plays a significant role in the American economy. Emergence of bio-based products, along with innovation in biotechnology, has contributed to job creation, which is likely to drive the bio-based economy of America. Abundant procurement of bio-based feedstock is projected to create ample growth opportunities for the North America market.

Increasing reliance of the flavors and fragrances industry on alternative materials, along with implementation of technologies, such as nanotechnology and stem cell technology, is expected to create demand for biotech ingredients for flavors and fragrances. North America has great potential for the flavors market and demand for biotech ingredients in such market is high owing to changing consumer tastes and rising awareness about nutritional benefits of naturally derived ingredients. This is expected to drive the market for biotech ingredients in this region.

Key Players

  • Givaudan SA
  • International Flavors & Fragrance (IFF), Inc.
  • Firmenich SA
  • Amyris, Inc.
  • Sollice
  • Novocap Group
  • Evolva S.A.

Market Segmentation

  • Flavors Outlook 
    • By Source
      • Bacteria
      • Yeast
      • Filamentous Fungi
    • By Type
      • Carbonyls
      • Lactones
      • Alcohols
      • Acids
    • By Carbonyls
      • Ketones
      • Aldehydes
  • Fragrances Outlook
    • By Application
      • Fine Fragrances
      • Toiletries
      • Others
  • Active Cosmetic Ingredients Outlook
    • By Application
      • Hair Care
      • Skin Care
      • Sun Care
      • Makeup and Color Cosmetics
  • Regional Outlook
    • North America
      • The U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • The U.K.
      • France
    • Asia Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
      • Singapore
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
    • Central & South America
      • Brazil
      • Argentina

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/35891 or call: +1 9197 992 333

Daksh

Daksh is an SEO Analyst having 3 years of experienced. we can quickly understand and support initiatives that will contribute to the goals and success of client campaigns. and also Perform keyword research in coordination with client business objectives to optimize existing content and uncover new opportunities.

View all posts by Daksh →

Leave a Reply

Your email address will not be published. Required fields are marked *