White Biotechnology Global Market Report 2024

The global white biotechnology market has grown rapidly in recent years. It will grow from $382.86 billion in 2023 to $423.09 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period of white biotechnology can be attributed to factors such as cost competitiveness and economic viability, a reduced reliance on fossil fuels, increased consumer demand for sustainability, investments in research and development, and the promotion of circular economy initiatives.

The global white biotechnology market is expected to see rapid growth in the next few years. It will grow to $626.09 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%.The growth in the forecast period for white biotechnology can be attributed to consumer preferences for sustainable products, a global shift towards renewable energy, increased investment and funding, and a focus on circular economy and waste reduction. Major trends in the forecast period include cost competitiveness, growing consumer awareness and preference, continuous product innovations, a shift towards circular economy practices, and efforts to reduce greenhouse gas emissions.

The escalating global demand for biofuels is anticipated to drive the growth trajectory of the white biotechnology market. Biofuels, derived from organic sources like by-products and corn-based ethanol, are witnessing increased popularity. White biotechnology, utilizing living organisms or enzymes from renewable sources, is crucial for sustainably synthesizing biofuels. As reported by the International Energy Agency (IEA) in December 2022, biodiesel production is projected to reach 47.4 billion liters by 2022, up from 45.7 billion in 2021. Similarly, ethanol production has surged to 114 billion liters in 2022. This surge in biofuel demand is a pivotal factor propelling the white biotechnology market's expansion.

The surging preference for sustainable products is poised to be a significant driver for the white biotechnology market's growth. Sustainable products aim to minimize adverse environmental and societal impacts while utilizing resources efficiently. White biotechnology facilitates the development of eco-friendly products and processes by leveraging microorganisms, enzymes, and biocatalysts. A study conducted by Mastercard Inc. in April 2021 across 24 countries highlighted that 54% of adults emphasize reducing the carbon footprint, while 62% prefer environmentally conscious companies. This growing inclination towards sustainable solutions is a catalyst for the burgeoning white biotechnology market.

Technological advancements stand out as a prominent trend shaping the white biotechnology sector. Innovative platforms like co-polymer and precise platforms, rooted in biotechnological applications, are witnessing increased adoption. Major industry players are focused on leveraging these advancements to drive groundbreaking discoveries. For instance, in June 2023, International Flavors & Fragrances Inc. unveiled the Designed Enzymatic Biomaterials (DEB) technology. This innovative platform offers sustainable biopolymers, allowing producers to adapt to evolving market demands and regulatory shifts by substituting conventional synthetic polymers from fossil fuels. DEB technology enables the direct incorporation of petroleum-based polymer properties into biopolymer materials, tailoring polysaccharides for enhanced long-term performance in specific applications.

Leading corporations within the white biotechnology sector prioritize the development of pioneering technologies, specifically growth platforms, to deliver steadfast services to their clientele. A growth platform denotes a strategic initiative pursued by business entities to achieve sustained long-term growth. Typically, these platforms involve cross-functional collaboration across multiple business units or departments. As showcased in May 2022, Solvay SA, a Belgian chemical manufacturing company, introduced the Renewable Materials and Biotechnology platform. This initiative aims to facilitate research and development focused on generating novel bio-based products derived from renewable sources like plant-based materials and agricultural waste. These products are engineered to exhibit higher sustainability and reduced environmental impact compared to conventional alternatives. Solvay intends to leverage biotechnology for innovating new processes to manufacture chemicals and materials.

In a move during March 2022, Kerry Group PLC, an Irish publicly-traded food corporation, acquired 92% of c-Lecta GmbH's issued share capital for $134.8 million (€137M). This strategic acquisition is set to expedite Kerry's innovative capacities in enzyme engineering, fermentation, and bioprocess development. Moreover, the acquisition underscores Kerry's commitment to investing in pioneering sustainable technologies that will form the cornerstone of future sustainable food and health systems. c-Lecta GmbH, a German biotechnology company specialized in creating, producing, and distributing enzyme products, aligns well with Kerry's strategic goals, fostering advancements in sustainable solutions.

Major companies operating in the white biotechnology market report are Novozyme A/S., Koninklijke DSM N.V., BASF SE., Du Pont Danisco., Amyris Inc., Henkel AG & Co. KGaA., Kaneka Corporation., Biosphere Corporation., Fujifilm Holdings Corporation., General Electric Company., Solazyme Inc., Bayer AG., Evonik Industries AG., Evolva Holding., EUCODIS Bioscience GmbH., Lonza Group Ltd., Laurus Labs., BioAmber Inc., Borregaard ASA., Codexis Inc., Deinove SA., Fermentalg SA., Gevo Inc., Global Bioenergies SA., Metabolic Explorer SA., Oligomerix Inc., immatics biotechnologies GmbH., Neurimmune Therapeutics AG., AkzoNobel N.V., Saama Technologies Inc.

North America was the largest region in the white biotechnology market in 2023. The regions covered in the white biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the white biotechnology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product types in white biotechnology include biofuels, biomaterials, biochemicals, and industrial enzymes. Biofuels, such as biodiesel, biogas, and ethanol, represent renewable energy sources produced through living organisms. Biotechnology-enhanced biofuels are designed to function similarly to traditional gasoline, offering improved fuel efficiency and fewer blending issues than ethanol. White biotechnology finds applications in the production of bioenergy, food and feed additives, pharmaceutical ingredients, personal care products, household items, and more.

This report provides white biotechnology market statistics, including white biotechnology industry global market size, regional shares, competitors with a white biotechnology market share, detailed white biotechnology market segments, market trends and opportunities, and any further data you may need to thrive in the white biotechnology industry. This white biotechnology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The white biotechnology market includes revenues earned by entities by providing enzyme engineering, synthetic biology, metabolic engineering, fermentation, separation and purification processes. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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