Market Snapshot:
The global white biotechnology market is likely to grow tremendously over the coming years. The growing adoption of enzyme technology is expected to have a positive impact on the growth of the market. High use of enzyme technology in the industrial process has driven the demand for the market. The enzymes also decrease chemical waste generation & water consumption during the manufacturing process. High adoption of enzyme technology as a substitute to harmful chemicals will consequently drive the growth of the global white biotechnology market. High technology use through various industries with its various advantages like new raw material chains, environment friendliness, reduced manufacturing costs, efficient production methods, low waste generation as well as raw material consumption are the factors that drive global white biotechnology market growth over the coming years.The research analyst at AMA estimates White Biotechnology market to grow at a compounded annual growth rate of 7.1%
Segment Analysis
AMA Research have segmented the market of Global White Biotechnology market by Type, Application and Region. On the basis of Type, Biofuels are dominating the market in the year 2020
On the basis of geography, the market of White Biotechnology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020.
Market Trend
Growing use of white biotechnology in flavor & fragrance industries
Market Drivers
Increasing Inclination for Green Chemicals, Advantages of white biotechnology and Increasing usage of biomass as an effective alternative to petroleum
Opportunities
Growing need from many consumer industries like automotive and consumer goods to meet sustainability targets
Restraints
In addition to the aforementioned factor, Increasing Inclination for Green Chemicals
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The global white biotechnology market is considered to be very consolidated with key players accounting collectively majority and share of the entire market. Moreover, small players are using merger and acquisition strategies to compete and maintain their position in the market.
The key Players profiled in the study are Archer Daniels Midland (United States), BioAmber Inc. (United States), Novozymes A/S (Denmark), Cargill, Incorporated (United States), BASF SE(Germany), Borregaard (Norway) and Codexis, Inc.(United States). A lot of United States players are profiled in the research study indicating a strong market dependence.