The biochemical market size has grown rapidly in recent years. It will grow from $75.86 billion in 2023 to $83.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The increase observed in the historical period can be credited to a growing demand for sustainable products, government initiatives and regulations, a shift towards bio-based fuels, consumer awareness and preference, as well as the expanding applications in diverse industries.
The biochemical market size is expected to see strong growth in the next few years. It will grow to $116.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The expansion anticipated in the forecast period can be ascribed to the growing biopharmaceutical sector, a heightened focus on the circular economy, global endeavors to combat climate change, advancements in biorefineries, and consumer demand for environmentally friendly products. Key trends during the forecast period encompass technological innovation in bioprocessing, increased investments in research and development, collaborative partnerships, advancements in biotechnology, and a shift towards precision and synthetic biology.
The biochemical market is anticipated to experience significant growth due to the rising demand for bio-based products. These products are derived from renewable biological resources, such as plants, animals, and microorganisms, offering sustainable alternatives to traditional petrochemicals and contributing to environmental conservation. A report by the Organic Trade Association revealed that the U.S. organic food market achieved a record-breaking $61.7 billion in sales in 2022, marking a 4.4% increase from $59.1 billion in 2021. Additionally, the global bioplastics production capacity is expected to surge from 2.2 million metric tons in 2022 to around 6.3 million metric tons by 2027, as reported by European Bioplastics. This escalating demand for bio-based products is a key driver behind the growth of the biochemical market.
The biochemicals market is poised for expansion owing to the increasing need for clean and renewable fuel sources. These sources, also known as renewable energy or green fuels, harness biochemicals to convert organic materials such as biomass and algae into biofuels and biogases. This process provides an environmentally friendly and sustainable energy alternative, reducing harmful emissions and lessening dependence on fossil fuels. The International Energy Agency reported a projected 6% increase in global biofuel demand, equivalent to 9.1 billion liters per year, between 2021 and 2022. Hence, the heightened demand for clean and renewable fuel sources is a driving force behind the growth of the biochemical market.
Major companies operating in the biochemical market are increasing their focus on introducing products such as biobased precursors to gain a competitive edge in the market. A biobased precursor is a substance derived from renewable biological sources, such as plants, animals, or microorganisms, that serves as a starting point or raw material for the production of bio-based products. For instance, in July 2022, Advanced Biochemical, a Thailand-based biochemical company, launched a new brand called Epinity, which is a bio-based, drop-in, and competitive epichlorohydrin (ECH) used in a wide range of downstream industries. Epinity is used as a precursor to epoxy resins, which have various applications, including marine coatings, powder coatings, auto refinishing, metal coatings, and industrial adhesives. The launch of Epinity is a significant development in the biochemical industry since it provides a sustainable alternative to traditional ECH and other chemical compounds.
Leading firms in the biochemical market are escalating their efforts to introduce innovative sustainable products, including biobased sustainable additives, to enhance their competitive advantage. Biobased sustainable additives are naturally derived or renewable chemical compounds sourced from plants, agriculture, or other organic materials. They are employed to improve the properties, performance, or environmental sustainability of various products, materials, or processes. For example, in March 2023, BYK, a subsidiary of Altana AG, a Germany-based chemicals company, unveiled a new series of bio-based sustainable additives named CERAFLOUR. These additives are crafted to impart a natural appearance, as well as silky and matte surfaces, to coatings utilized in wood and furniture, coil, and architectural coatings.
In August 2023, UPM Biochemicals GmbH, a biochemical company based in Germany, successfully acquired SunCoal Industries GmbH for an undisclosed sum. This strategic acquisition is anticipated to aid UPM Biochemicals GmbH in expanding its range of renewable chemicals and reinforcing its position in the bio-based products market. SunCoal Industries GmbH, a chemical company based in Germany, specializes in the development and commercialization of high-value carbon products, including biochemicals.
Major companies operating in the biochemical market report are Cargill Inc., Archer Daniels Midland Company, Pfizer Inc., Johnson & Johnson, BASF SE, F. Hoffmann-La Roche AG, Merck & Co. Inc., Dow Chemical Company, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca PLC, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Evonik Industries AG, Solvay S.A., DuPont de Nemours Inc., Ajinomoto Co. Inc., Biogen Inc., Vertex Pharmaceuticals, Agilent Technologies, Illumina, Renewable Energy Group Inc., Bio-Rad Laboratories, Hansen A/S, Naturex SA, Arboris LLC, AMINO GmbH, LIPO Foods.
Asia-Pacific was the largest region in the biochemical market in 2023. The regions covered in the biochemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biochemical market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Biochemical relates to chemical activities occurring in living organisms, involving the analysis of chemical substances and fundamental processes within living entities. These processes are utilized in biotechnology for producing therapeutic proteins and in various bioprocessing applications.
The key segments within the biochemical sector comprise biodiesel, amino acids, fine chemicals, phytochemicals, antibiotics, dyes, and stains. Biodiesel, sourced domestically from vegetable oils, animal fats, or recycled restaurant grease, is a sustainable and degradable fuel. Its applications extend to fuel, power generation, and diverse end-user industries such as pharmaceuticals, dairy, automotive, textile, and food processing.
The biochemical market research report is one of a series of new reports that provides biochemical market statistics, including biochemical industry global market size, regional shares, competitors with biochemical market share, detailed biochemical market segments, market trends and opportunities, and any further data you may need to thrive in the biochemical industry. This biochemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The biochemical market consists of sales of buffers, plant growth regulators, insect growth regulators, organic acids, and plant extracts. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
This product will be delivered within 3-5 business days.
The biochemical market size is expected to see strong growth in the next few years. It will grow to $116.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The expansion anticipated in the forecast period can be ascribed to the growing biopharmaceutical sector, a heightened focus on the circular economy, global endeavors to combat climate change, advancements in biorefineries, and consumer demand for environmentally friendly products. Key trends during the forecast period encompass technological innovation in bioprocessing, increased investments in research and development, collaborative partnerships, advancements in biotechnology, and a shift towards precision and synthetic biology.
The biochemical market is anticipated to experience significant growth due to the rising demand for bio-based products. These products are derived from renewable biological resources, such as plants, animals, and microorganisms, offering sustainable alternatives to traditional petrochemicals and contributing to environmental conservation. A report by the Organic Trade Association revealed that the U.S. organic food market achieved a record-breaking $61.7 billion in sales in 2022, marking a 4.4% increase from $59.1 billion in 2021. Additionally, the global bioplastics production capacity is expected to surge from 2.2 million metric tons in 2022 to around 6.3 million metric tons by 2027, as reported by European Bioplastics. This escalating demand for bio-based products is a key driver behind the growth of the biochemical market.
The biochemicals market is poised for expansion owing to the increasing need for clean and renewable fuel sources. These sources, also known as renewable energy or green fuels, harness biochemicals to convert organic materials such as biomass and algae into biofuels and biogases. This process provides an environmentally friendly and sustainable energy alternative, reducing harmful emissions and lessening dependence on fossil fuels. The International Energy Agency reported a projected 6% increase in global biofuel demand, equivalent to 9.1 billion liters per year, between 2021 and 2022. Hence, the heightened demand for clean and renewable fuel sources is a driving force behind the growth of the biochemical market.
Major companies operating in the biochemical market are increasing their focus on introducing products such as biobased precursors to gain a competitive edge in the market. A biobased precursor is a substance derived from renewable biological sources, such as plants, animals, or microorganisms, that serves as a starting point or raw material for the production of bio-based products. For instance, in July 2022, Advanced Biochemical, a Thailand-based biochemical company, launched a new brand called Epinity, which is a bio-based, drop-in, and competitive epichlorohydrin (ECH) used in a wide range of downstream industries. Epinity is used as a precursor to epoxy resins, which have various applications, including marine coatings, powder coatings, auto refinishing, metal coatings, and industrial adhesives. The launch of Epinity is a significant development in the biochemical industry since it provides a sustainable alternative to traditional ECH and other chemical compounds.
Leading firms in the biochemical market are escalating their efforts to introduce innovative sustainable products, including biobased sustainable additives, to enhance their competitive advantage. Biobased sustainable additives are naturally derived or renewable chemical compounds sourced from plants, agriculture, or other organic materials. They are employed to improve the properties, performance, or environmental sustainability of various products, materials, or processes. For example, in March 2023, BYK, a subsidiary of Altana AG, a Germany-based chemicals company, unveiled a new series of bio-based sustainable additives named CERAFLOUR. These additives are crafted to impart a natural appearance, as well as silky and matte surfaces, to coatings utilized in wood and furniture, coil, and architectural coatings.
In August 2023, UPM Biochemicals GmbH, a biochemical company based in Germany, successfully acquired SunCoal Industries GmbH for an undisclosed sum. This strategic acquisition is anticipated to aid UPM Biochemicals GmbH in expanding its range of renewable chemicals and reinforcing its position in the bio-based products market. SunCoal Industries GmbH, a chemical company based in Germany, specializes in the development and commercialization of high-value carbon products, including biochemicals.
Major companies operating in the biochemical market report are Cargill Inc., Archer Daniels Midland Company, Pfizer Inc., Johnson & Johnson, BASF SE, F. Hoffmann-La Roche AG, Merck & Co. Inc., Dow Chemical Company, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca PLC, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Evonik Industries AG, Solvay S.A., DuPont de Nemours Inc., Ajinomoto Co. Inc., Biogen Inc., Vertex Pharmaceuticals, Agilent Technologies, Illumina, Renewable Energy Group Inc., Bio-Rad Laboratories, Hansen A/S, Naturex SA, Arboris LLC, AMINO GmbH, LIPO Foods.
Asia-Pacific was the largest region in the biochemical market in 2023. The regions covered in the biochemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biochemical market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Biochemical relates to chemical activities occurring in living organisms, involving the analysis of chemical substances and fundamental processes within living entities. These processes are utilized in biotechnology for producing therapeutic proteins and in various bioprocessing applications.
The key segments within the biochemical sector comprise biodiesel, amino acids, fine chemicals, phytochemicals, antibiotics, dyes, and stains. Biodiesel, sourced domestically from vegetable oils, animal fats, or recycled restaurant grease, is a sustainable and degradable fuel. Its applications extend to fuel, power generation, and diverse end-user industries such as pharmaceuticals, dairy, automotive, textile, and food processing.
The biochemical market research report is one of a series of new reports that provides biochemical market statistics, including biochemical industry global market size, regional shares, competitors with biochemical market share, detailed biochemical market segments, market trends and opportunities, and any further data you may need to thrive in the biochemical industry. This biochemical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The biochemical market consists of sales of buffers, plant growth regulators, insect growth regulators, organic acids, and plant extracts. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Biochemical Market Characteristics3. Biochemical Market Trends and Strategies32. Global Biochemical Market Competitive Benchmarking33. Global Biochemical Market Competitive Dashboard34. Key Mergers and Acquisitions in the Biochemical Market
4. Biochemical Market - Macro Economic Scenario
5. Global Biochemical Market Size and Growth
6. Biochemical Market Segmentation
7. Biochemical Market Regional and Country Analysis
8. Asia-Pacific Biochemical Market
9. China Biochemical Market
10. India Biochemical Market
11. Japan Biochemical Market
12. Australia Biochemical Market
13. Indonesia Biochemical Market
14. South Korea Biochemical Market
15. Western Europe Biochemical Market
16. UK Biochemical Market
17. Germany Biochemical Market
18. France Biochemical Market
19. Italy Biochemical Market
20. Spain Biochemical Market
21. Eastern Europe Biochemical Market
22. Russia Biochemical Market
23. North America Biochemical Market
24. USA Biochemical Market
25. Canada Biochemical Market
26. South America Biochemical Market
27. Brazil Biochemical Market
28. Middle East Biochemical Market
29. Africa Biochemical Market
30. Biochemical Market Competitive Landscape and Company Profiles
31. Biochemical Market Other Major and Innovative Companies
35. Biochemical Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Biochemical Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on biochemical market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for biochemical ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biochemical market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Biodiesel; Amino Acids; Fine Chemicals; Phytochemicals; Antibiotics; Dyes And Stains2 By Application: Fuel; Power Generation; Other Applications
3) By End-User: Pharmaceuticals; Dairy; Automotive; Agriculture; Textile; Food ProcessingKey Companies Mentioned: Cargill Inc.; Archer Daniels Midland Company; Pfizer Inc.; Johnson & Johnson; BASF SE
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Cargill Inc.
- Archer Daniels Midland Company
- Pfizer Inc.
- Johnson & Johnson
- BASF SE
- F. Hoffmann-La Roche AG
- Merck & Co. Inc.
- Dow Chemical Company
- Novartis AG
- Sanofi S.A.
- Bristol-Myers Squibb Company
- Thermo Fisher Scientific Inc.
- AstraZeneca plc
- Eli Lilly and Company
- Gilead Sciences Inc.
- Amgen Inc.
- Evonik Industries AG
- Solvay S.A.
- DuPont de Nemours Inc.
- Ajinomoto Co. Inc.
- Biogen Inc.
- Vertex Pharmaceuticals
- Agilent Technologies
- Illumina
- Renewable Energy Group Inc.
- Bio-Rad Laboratories
- Hansen A/S
- Naturex SA
- Arboris LLC
- AMINO GmbH
- LIPO Foods
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | March 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 83.52 Billion |
| Forecasted Market Value ( USD | $ 116.07 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 31 |
