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White Biotechnology Market - Biofuel to Continue to Witness High Demand

White Biotechnology Market

, 24 January 2019 -- Global white biotechnology market, which had a valuation of US$178.1 bn in 2015, will expand at a healthy CAGR of 4.5% over the period between 2016 and 2024; market will rise to a valuation of US$262.3 bn by 2024.

With the increasing awareness level of consumers pertaining to the benefits of white biotechnology-based eco-friendly products, the market for white biotechnology is gaining significant traction across the world. As the governments across a number of economies is increasingly focusing on raising the level of awareness among people regarding the need for taking up greener technologies, especially white biotechnology, across a number of industries.

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Funds allocated to increase the research and development activities in this area and the implementation of stringent emission regulations are encouraging industries to uptake white biotechnology products and principles. This, as a result, is reflecting greatly on the worldwide market for white biotechnology.

Europe, the Middle East and Africa, Asia pacific, Latin America, and North America are the key regional markets for white biotechnology across the world. Presently, North America leads the global market and had held a share of more than 35% in the overall market in 2015. With the support of large government funds for research and development activities in the field of white biotechnology and the increasing demand for green products, this regional market is anticipated to remain on the dominant position over the next few years. The expanding range of applications across various industries, such as energy, food, pharmaceuticals, and feed, is also projected to boost the North America market for white biotechnology in the near future.

The Asia Pacific market for white biotechnology will also be witnessing a high-paced growth over the forthcoming years, thanks to the augmenting demand for renewable resources in emerging economies, such as India and China, in the region. The plenty of raw materials that can be utilized for the manufacturing of white technology products will also support the Asia Pacific white biotechnology market in gaining momentum in the years to come.

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Biochemical, biomaterial, biofuel, and bioproducts are the key type of products available in the global white biotechnology market. In 2015, the biofuel segment led the overall market with a share of 38.16%. Researchers anticipate the demand for biofuel to remain strong throughout the period of the forecast.

White biotechnology solutions find a widespread application in the pharmaceuticals, food and feed, pulp and paper, energy, and the textile sector. Currently the demand for these solutions is significantly high in the energy sector and the scenario is likely to continue like this in the years to come.

The global market for white biotechnology is mostly consolidated, with DuPont, Cargill Inc., Novozymes, BASF SE, and Archer Daniels Midland Co. largely driving the market. Other prominent players in this market are Lesaffre, DSM, and Corbion.

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Submitted by hawer on Thursday, 24 January 2019 at 1:37 AM
Category: Health Care & Medical
 
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