The global industrial biotechnology market size is expected to reach USD 852.55 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Reports and Data. Rise in demand for new approaches to prevent pollution, conserve resources, and increase application in biofuels is driving market revenue growth.
If fully developed, industrial biotechnology might have a bigger global impact than medical services and agriculture biotechnology. It enables companies to minimize costs and grow their markets while still protecting the environment. Furthermore, since many industrial biotechnology products do not require the lengthy review times that drug products must undergo, it’s quicker, and easier, which is driving market revenue growth. Today, new industrial processes can be taken from lab study to commercial application in two to five years, as compared to almost a decade it took earlier.
Top Companies profiled in global market report include BASF SE, Amyris, Inc, Borregaard AS, Global Bioenergies, Codexis, Inc., Deinove SAS, Fermentalg, Evolva, Gevo, Inc., and Novozymes.
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Some Key Highlights from the Report
- In April 2020, Amgen Inc. and Adaptive Biotechnologies partnered to research and produce antibodies to combat the COVID-19 pandemic. The collaboration will combine Amgen’s experience in the fields of novel antibody treatment and immunology with Adaptive’s patented immune medicine platform to find virus-neutralizing antibodies and create promising new medicines against SARS-CoV-2.
- Biofuel segment accounted for largest revenue share in 2021. Fuels that have been extracted from plants and crops are known as biofuels. As prices of crude oil are soaring day by day, most people are switching to biofuels to save money and reduce their dependence on crude oil. Biofuels are produced from wheat, corn, soybeans, and sugarcane, which can be produced again and again on demand, so they are sustainable. It also helps in reducing greenhouse gases up to much extent by emitting less pollution.
- Agricultural residues segment accounted for largest revenue share in 2021. Agricultural residues are rich in bioactive compounds. Agro-industrial wastes are used for manufacturing biofuels, enzymes, vitamins, antioxidants, animal feed, antibiotics, and other chemicals through solid-state fermentation (SSF). The use of agro-industrial wastes as raw materials can help to reduce the production cost and reduce the pollution load from the environment. Such factors are contributing to growth of the segment.
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Type Outlook (Revenue, USD Billion; 2019 – 2030)
Application Outlook (Revenue, USD Billion; 2019 – 2030)
- Food & Feed
- Pulp & Paper
- Bio Energy
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
The Industrial Biotechnology market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Industrial Biotechnology market.
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Frequently Asked Questions Addressed in the Report:
- What is the estimated market revenue growth over the forecast period?
- What are the major factors driving the global Industrial Biotechnology market revenue growth?
- Which regional market is expected to account for the largest revenue share in the global Industrial Biotechnology market over the forecast years?
- Which are the leading players in the global Industrial Biotechnology market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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