Europe Sophorolipid Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type and Application

The market is expected to reach US$ 274.61 thousand by 2027 from US$ 187.57 thousand in 2019 and is expected to grow at a CAGR of 5.0% from 2020 to 2027. The report provides trends prevailing in the Europe Sophorolipid Market along with the drivers and restraints pertaining to the market growth. The surging importance of bio-based chemicals is the primary factor driving the Europe Sophorolipid Market. However, high production costs and substitute products' availability may hinder sophorolipids' growth in Europe. Besides, COVID-19 has affected economies and industries in various countries due to travel bans, lockdowns, and business shutdowns. In Europe, France and Italy are the hardest-hit countries by the COVID-19 outbreak. It is anticipated to suffer an economic hit due to a lack of revenue from various industries, as Italy recorded the highest number of coronavirus cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.

The Europe Sophorolipid Market is segmented into type and application. Based on type, the Europe sophorolipid market is segmented into lactonic sophorolipid and acidic sophorolipid. The acidic sophorolipid segment is the leading segment during the forecast period. Based on application, the sophorolipid market is segmented into household detergents, personal care, food processing, industrial & institutional cleaners, oilfield chemicals, and others. The personal care segment is the fastest-growing segment with the highest CAGR.

Givaudan, Evonik Industries AG, Holiferm, and Saraya Co., Ltd. are among the leading companies in the Europe Sophorolipid Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Evonik is commercializing biosurfactants. The company is now the first in the world to use biotech methods for producing industrial-scale quantities of high-quality surfactants - key components of modern shower gels, shampoos, and household cleansers. These products contain sophorolipids which are produced in nature by yeast and can be found in honey produced by bumblebees. Evonik works closely with the major international customers to tap into other sophorolipid applications quickly. The company’s scientists are also working to develop different ways of improving the production process - these improvements are expected to allow the company to build even larger plants.

Europe Sophorolipid Market, By Country, 2019 and 2027 (%)

The Report Segments The Europe Sophorolipid Market As Follows:

By Type

• Lactonic Sophorolipi

By Application

• Household Detergents
• Personal Care
• Food Processing
• Industrial & Institutional Cleaners
• Oilfield Chemical

By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

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