White Biotechnology Market Size, Share, Growth, and Industry Analysis, By Type (Biofuels, Biomaterials, Biochemicals, Industrial Enzymes, Others), By Application (Bioenergy, Food Industry, Pharmaceutical, Personal Care, Chemical, Others), Regional Insights and Forecast To 2032

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WHITE BIOTECHNOLOGY MARKET OVERVIEW

Global white biotechnology market size was projected at USD 408.6 billion in 2023 and is expected to hit USD 810.16 billion by 2032 with a CAGR of 7.8% during the forecast period.

White biotechnology, also known as industrial biotechnology or bio-based economy, refers to the application of biotechnology in the development of sustainable products and processes. It uses enzymes and microorganisms to produce chemicals, materials and biofuels with the aim of reducing dependence on fossil fuels and minimizing the environmental impact of industrial processes.

The market for white biotechnology and enzymes has grown significantly due to several factors. First, the growing environmental concern and strict emission regulations encouraged the industry to adopt cleaner and more sustainable processes. White biotechnology offers a viable alternative by using renewable natural resources and minimizing greenhouse gas emissions.

COVID19 IMPACT

Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has had a negative impact on credit securities. Unemployment rose to unprecedented levels and economic activity was disrupted, straining the ability of customers and companies to pay. Central banks have taken a proactive approach, adding liquidity to the market through interest rate hikes and purchase programs. Managing and controlling credit, market, liquidity and operational risks in the financial markets has been quite difficult due to ongoing geopolitical tensions, international trade wars and occasional hurricanes and earthquakes. The current pandemic situation has forced risk managers and their teams to recalibrate the old assumptions and models used in risk management and monitoring. The global impact of COVID-19 has shown that mutual associations play an important role in international cooperation. As a result, many governments have rushed to identify, evaluate and acquire reliable AI-based solutions.

LATEST TRENDS

Increasing Demand Of Consumers For Food And Drinks Without Toxic Chemicals And Additives Will Drive Market Growth

The growth in turnover in the white biotechnology market is due to the increasing demand of consumers for food and drinks without toxic chemicals and additives. Bio-based food ingredients such as enzymes, flavorings and sweeteners are used to replace chemical additives, thus improving the nutritional value and safety of food. Similarly, white biotechnology is used in the pharmaceutical industry to produce bio-based medicines that are safer and more effective than traditional medicines.

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WHITE BIOTECHNOLOGY MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Biofuels, Biomaterials, Biochemicals, Industrial Enzymes, Others.

• Biofuels: Biofuels are fuels derived from biomass, which includes plant and animal matter. Examples of biofuels include biodiesel, ethanol, methane gas and liquefied petroleum gas (LPG). Biofuels have been around since the early 20th century, when Rudolf Diesel produced his peanut oil-powered engine and Henry Ford developed an ethanol-powered car.

• Biomaterials: Biomaterial is material that consists of or is derived from biological materials. Biomaterials are often used in medicine. Some common examples include contact lenses, sutures, and tissue engineering scaffolds. The term "biomaterials" can refer to any naturally occurring substance, including metals and alloys.

• Biochemicals: Biochemicals are chemicals produced by living organisms, including plants and animals. These molecules play an important role in life-sustaining biochemical processes. Some biochemicals, such as enzymes, are necessary for all chemical reactions in cells.

• Industrial Enzymes: Industrial enzymes are biological catalysts used in industrial applications. They are involved in the production of various materials, chemicals and products such as bioplastics, biofuels, etc. These enzymes are also used in the processing of the food, pulp and paper industries.

By Application

Based on application the global market can be categorized into Bioenergy, Food Industry, Pharmaceutical, Personal Care, Chemical, Others.

• Bioenergy: Bioenergy is produced by converting biomass into different types of energy, such as electricity, heat and liquid fuels. White biotechnology promises to make this process more efficient, because it can reduce the size of the microorganisms used in bioethanol production, thus accelerating fermentation with higher yields.

• Food Industry: One of the applications of white biotechnology in the food industry is the production of non-genetically modified organisms. Non-GMO products are gaining popularity today due to consumer demands that increase the demand for this category in the industry. Growing concern about the health problems associated with the use of genetically modified ingredients has led consumers to prefer organic foods worldwide.

• Pharmaceutical: The use of white biotechnology in the pharmaceutical industry is increasing due to its ability to produce high quality proteins. These proteins are used as therapy, vaccine and diagnostics. Growing demand for biopharmaceuticals is contributing to the growth of the white biotechnology market. In addition, the rise in chronic diseases is expected to increase the demand for these products in the coming years.

• Personal Care: White biotechnology used in personal hygiene is bioenzymes. Bioenzymes are proteins produced by microorganisms, plants or animals that act as catalysts for biochemical reactions. They are found in every cell and tissue of the body. These enzymes improve the performance of beauty products such as shampoos, conditioners, etc., making them gentler on the skin and hair; this also makes them more efficient than their synthetic counterparts.

DRIVING FACTORS

Cost-Effectiveness, Low Energy Requirements, And Less Waste Of Technology Will Accelerate The Market Growth

The white biotechnology process is cost-effective due to its lower cost curves compared to many chemical processes based mainly on the use of fossil fuels, relatively fewer production steps, low energy requirements, and less waste. This technology is also unaffected by price fluctuations because it does not compete with oil or crop prices. The aforementioned benefits are expected to drive the growth of the market during the forecast period.

Increasing Technological Advances In Enzyme Technology Will Expand The Market Growth

Technological advances in enzyme technology have greatly improved the efficiency and performance of industrial enzymes. Enzymes play an important role in white biotechnology as catalysts of various chemical and biochemical reactions. The development of genetically engineered enzymes and advanced bioprocessing techniques enabled the production of high-quality products at lower costs, which stimulated market growth. Growing demand from emerging economies such as China and India and increasing focus of governments on green products to boost their country's economic growth are expected to drive the global white biotechnology market. Rapid industrialization along with growing population in developing countries is another factor that will fuel the white biotechnology market growth in the coming years.

RESTRAINING FACTORS

Lower Adoption Of Biofertilizers Compared To Conventional Fertilizers In Developed And Emerging Economies Impede Market Growth

Lower adoption of biofertilizers compared to conventional fertilizers in developed and emerging economies is expected to hinder the growth of the global white biotechnology market. The decline in soil fertility and the high demand for food led to a preference for conventional fertilizers. Furthermore, lower adoption of biofuels compared to conventional fuels is expected to limit market growth. This may be due to the inconsistency of biofuels and the superior efficiency of conventional fuels compared to biofuels.

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WHITE BIOTECHNOLOGY MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific Dominating The Market Due To Growing Need For Sustainable Solutions In Developing Countries

In the coming years, the global white biotechnology market share is expected to grow significantly. Available data indicates that Asia Pacific is likely to hold the largest market share during the forecast period. The reason for this market expansion is the growing need for sustainable solutions in developing countries such as China and India. The increase in demand for environmentally friendly products is due to population growth and rising prices of energy and food.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market through Innovation and Market Expansion

The white biotechnology market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Top White Biotechnology Companies

• DSM (Netherlands)
• Bayer (Germany)
• Evonik (Germany)
• Dow Chemicals (U.S.)
• Henkel (Germany)
• BASF (Germany)
• DuPont (U.S.)
• LANXESS (Germany)

INDUSTRIAL DEVELOPMENT

October 2021: BASF Venture Capital (BVC) has provided funding to Bota Biosciences Ltd (Bota Bio), an industrial synthetic biotechnology company based in Hangzhou, China. Bota Bio focuses on the production of next-generation biotechnology platforms that enable the sustainable and cost-effective production of valuable products such as sweeteners, vitamins, personal care products and plant protection products.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.