Dublin, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The "Industrial Biotechnology Market Size, Share, Trends, By Type, By Raw Materials, By Application and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global industrial biotechnology market size is expected to reach USD 852.55 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report. The market is anticipated to grow significantly due to the rapid adoption of industrial biotechnology by various industries, such as food & beverage, pharmaceuticals, chemicals, and others. The rising demand for renewable energy sources is also expected to drive market growth over the forecast years.
Industrial Biotechnology is an emerging technology that uses living cells to produce or modify products for specific industrial or commercial applications. It is a rapidly growing field with immense potential in the production of renewable energy, pharmaceuticals, chemicals and other materials.
The applications of industrial biotechnology are diverse and encompass a wide range of industries. The pharmaceutical sector is one of the major end-users of industrial biotechnology. The industry uses various techniques, such as gene manipulation and fermentation, to produce a variety of medicines and drugs. The food & beverage sector is another significant consumer of industrial biotechnology. Various processes, such as enzymatic processing and fermentation, are employed in the production of food and beverages.
If fully developed, industrial biotechnology might have a significant impact on the future of sustainable energy production and environmental protection. However, for this technology to proliferate, there are several challenges that need to be addressed. The development of efficient and environmentally friendly processes for the production of fuels and chemicals from renewable resources is a major challenge. Additionally, the high cost of enzymes and other biocatalysts needed for these processes is another significant obstacle.
The development of new and improved enzymes and other biocatalysts is essential for the further development of industrial biotechnology. Additionally, novel fermentation processes will need to be developed in order to make the production of fuels and chemicals from renewable resources economically viable.
Despite the challenges, industrial biotechnology holds great promise for the future. When fully developed, this technology could help to reduce our reliance on fossil fuels and promote sustainable energy production. Additionally, industrial biotechnology could lead to the development of more environmentally friendly processes for the production of chemicals and other materials.
Some Key Highlights from the Report
- The fermentation segment accounted for the largest share of the market in 2019. This is attributed to the wide range of applications of fermentation technology in various industries, such as food & beverage and pharmaceuticals.
- The enzymes segment is expected to witness the fastest growth over the forecast period. This is attributed to the increasing use of enzymes in a variety of applications, such as detergents, food processing, animal feed, and others. On the basis of application, the market is classified into food & beverage, pharmaceuticals, chemicals, biofuels, and others.
- The food & beverage segment held the largest share of the market in 2019. This is attributed to the increasing use of industrial biotechnology in the production of a variety of food and beverage products.
- The pharmaceuticals segment is expected to witness the fastest growth over the forecast period. This is attributed to the increasing use of industrial biotechnology in the production of a variety of drugs and medicines.
- North America held the largest share of the market in 2019. This is attributed to the presence of a large number of leading players in the region. The market in Asia Pacific is expected to witness the fastest growth over the forecast period. This is attributed to the rising demand for industrial biotechnology products in various industries, such as food & beverage and pharmaceuticals.
For the purpose of this report, the publisher has segmented industrial biotechnology market based on type, raw material, application, and region:
Type Outlook (Revenue, USD Billion; 2019 - 2030)
- Biofuel
- Biochemical
- Biomaterial
- Bioproduct
Raw Material Outlook (Revenue, USD Billion; 2019 - 2030)
- Grains & Starch Crops
- Agricultural Residues
- Food Waste
- Forestry Material
- Animal By-product
- Energy Crops
- Urban & Suburban Waste
Application Outlook (Revenue, USD Billion; 2019 - 2030)
- Food & Feed
- Pharmaceuticals
- Pulp & Paper
- Textile
- Bio Energy
- Others
Regional Outlook (Revenue, USD Billion; 2019 - 2030)
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Industrial Biotechnology Market Segmentation & Impact Analysis
Chapter 5. Industrial Biotechnology Market By Type Insights & Trends
Chapter 6. Industrial Biotechnology Market By Raw Material Insights & Trends
Chapter 7. Industrial Biotechnology Market By Application Insights & Trends
Chapter 8. Industrial Biotechnology Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- BASF SE
- Amyris Inc
- Borregaard AS
- Global Bioenergies
- Codexis Inc
- Deinove
- Fermentalg
- Evolva
- Gevo Inc.
- Novozymes
For more information about this report visit https://www.researchandmarkets.com/r/7xko6e
