According to the latest report by IMARC Group, titled, “Biotech Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global biotech ingredients market reached a value of US$ 53.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 72.6 Billion by 2027, exhibiting a CAGR of 5.16% during 2022-2027.
Biotech ingredients are made using organisms like algae, yeast, and bacteria that undergo deoxyribonucleic acid (DNA) editing to improve the metabolic process of microbes. These ingredients are cost-effective and generate a low environmental impact than ingredients processed using petrochemicals. At present, the growing consumer awareness about household cleanliness and hygiene is catalyzing the demand for biotech ingredients in household cleaners and disinfectants.
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Market Trends
At present, biotech ingredients are employed in the manufacturing of personal skincare care and cosmetic products like face serums, moisturizers, lotions, perfume, body mists, face wash, cheek tints, face masks, and face gel to regenerate aging tissues and cells. They are also used to discover, develop, and produce components of cosmetic formulations and evaluate the activity of these components on the skin. Along with this, increasing sales of hybrid skincare and cosmetic products on account of expanding purchasing power of the consumer represents one of the major factors bolstering the market growth around the world.
Moreover, key players are introducing biomimetics, 3D bioprinting, and plant tissue culture technologies to develop next-generation personal care and cosmetic products. They are also focusing on recycling, sterilizing, and disposing of the waste produced during the manufacturing process, which helps reduce the carbon footprint of raw materials and favoring the market growth. In addition, they are used in the food and beverage (F&B) industry to enhance the quality, aroma, flavor, texture, shelf life, and nutritional values of various baked goods and alcoholic drinks like bread, muffin, pizza, cookies, wine, beer, and cakes. Along with this, shifting consumer preferences towards ready-to-eat (RTE) food products due to rapid urbanization and busy lifestyles is contributing to the market growth. It can also be attributed to the rising demand for premium alcoholic beverages on account of the emerging trend of socializing and parties among working professionals and young adults.
Apart from this, the escalating demand for biologics and generic drugs due to expanding healthcare costs is driving the need for biotech ingredients in the pharmaceutical industry. The rising prevalence of infectious and chronic disorders among the masses and the growing geriatric population, which is more prone to developing medical conditions, is creating a positive outlook for the market. Extensive investment in research and development (R&D) activities by leading manufacturers to produce better-quality, low-cost APIs that facilitate the treatment of diseases is also expected to drive the market towards growth in the upcoming years.
Breakup by Type:
- Yeast
- Algae
- Others
Breakup by Application:
- Food and Beverages
- Personal Care and Cosmetics
- Cleaning Products
- Others
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
Competitive Landscape:
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.
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