According to the latest report by IMARC Group, titled, “Biotech Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global biotech ingredients market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026.
Biotech ingredients consist of genetically engineered microbes, such as yeast, enzymes, algae, and bacteria, that undergo deoxyribonucleic acid (DNA) editing. The process employs cold pressing, steam distillation, and solvent extraction techniques to convert substrates into complex products. As compared to synthetically processed ingredients, biotech ingredients are more cost-effective, reliable, cruelty-free, and sustainable in nature. They also exhibit better quality control, promote the multiplication of natural active compounds on the skin, and eliminate harmful chemicals found in plant-based beauty products.
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The widespread adoption of biotech ingredients in several cosmetic products is primarily driving the market growth. This is further supported by the shifting preference toward safe, potent, and advanced cosmetics, which has prompted manufacturers to invest in research and development (R&D) activities to introduce next-generation beauty products. Other than this, they are adopting new waste recycling strategies and eco-conscious alternatives to reduce the carbon footprint of raw materials, which is contributing to the market growth. Moreover, extensive product applications in the food and beverage (F&B) industry as an emulsifying agent is creating a positive outlook for the market.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Biotech Ingredients Market 2021-2026 Analysis and Segmentation:
Breakup by Type:
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Cleaning Products
Market Breakup by Region:
- 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
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- AbbVie Inc.
- Advanced Biotech
- Amyris Inc.
- Becton Dickinson and Company
- Bell Flavors & Fragrances Inc.
- Bruker Corporation
- Evolva AG
- Evonik Industries AG
- GlaxoSmithKline plc.
- International Flavors & Fragrances Inc., Merck KGaA and Sanofi SA.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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