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IMARC Group's report titled "White Biotechnology Market Report by Product (Biofuels, Biochemicals, Biopolymers), Application (Bioenergy, Food and Feed Additives, Pharmaceutical Ingredients, Personal Care and Household Products, and Others), and Region 2024-2032". The global white biotechnology market size reached US$ 310.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 755.2 Billion by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032.
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Factors Affecting the Growth of the White Biotechnology Industry:
Environmental Concerns and Sustainability Goals:
The growing adoption of white biotechnology due to rising environmental concerns, such as climate change, pollution, and the depletion of natural resources, is offering a positive market outlook. The increasing focus on maintaining sustainability goals worldwide is impelling the market growth. White biotechnology offers eco-friendly alternatives to conventional chemical processes by using living cells or their components to manufacture products. These biological methods usually require less energy, reduce greenhouse gas (GHG) emissions, and produce minimal waste, thereby contributing to environmental conservation.
Advancements in Biotechnological Research:
Innovations in biotechnological research are enabling the development of new bio-based products and processes that are more efficient, cost-effective, and eco-friendly. Breakthroughs in genetic engineering, fermentation technology, and enzyme optimization benefit in improving the viability and attractiveness of bio-based solutions. Advancements in fermentation technology, including bioreactor design and process optimization, increase the scalability and efficiency of bio-based production processes. Modern bioreactors are more controllable and can maintain optimal conditions for microbial growth and product formation, leading to higher yields and lower production costs.
Rising Focus on Biofuels:
White biotechnology plays a vital role in the creation of biofuels, such as ethanol and biodiesel, from renewable sources like biomass, agricultural waste, and algae. Biofuels can be produced domestically from a variety of feedstocks and reduce dependence on imported fossil fuels while enhancing energy security. They generally produce fewer greenhouse gas (GHG) emissions as compared to conventional fossil fuels when burned for energy, contributing to efforts to mitigate climate change and improve air quality. Furthermore, ongoing advancements in white biotechnology are leading to more efficient and cost-effective biofuel production processes, making biofuels increasingly competitive with fossil fuels.
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Leading Companies Operating in the Global White Biotechnology Industry:
Archer Daniels Midland Company
BASF SE
Cargill Inc.
DuPont de Nemours Inc.
Fujifilm Holdings Corporation
General Electric Company
Henkel AG & Co. KGaA
Kaneka Corporation
Koninklijke DSM N.V.
Lonza Group AG
Mitsubishi Corporation
Novozymes A/S
White Biotechnology Market Report Segmentation:
By Product:
Biofuels
Biochemicals
Biopolymers
On the basis of the product, the market has been divided into biofuels, biochemicals, and biopolymers.
By Application:
Bioenergy
Food and Feed Additives
Pharmaceutical Ingredients
Personal Care and Household Products
Others
Based on the application, the market has been classified into bioenergy, food and feed additives, pharmaceutical ingredients, personal care and household products, and others.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Region-wise, the white biotechnology market is segmented into North America (United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
Global White Biotechnology Market Trends:
Governing agencies of various countries are implementing numerous policies to reduce reliance on fossil fuels. They are also providing financial incentives for the development and adoption of bio-based products, which is supporting the market growth. Various policies mandate the incorporation of biofuels into the national fuel mix and provide subsidies for biodegradable product manufacturing. These initiatives not only foster innovation in the sector but also make bio-based products more competitive in the market.
Rising preferences for natural and organic products in various sectors is bolstering the market growth. White biotechnology can produce natural ingredients and materials that are perceived as healthier and more eco-friendly.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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