New York, United States , Nov. 18, 2022 (GLOBE NEWSWIRE) -- The Global White Biotechnology Market Size to grow from USD 257.7 billion in 2021 to USD 714.6 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 12% during the forecast period. The white biotechnology market has grown due to increasing demand for making biofuels like bioethanol and biodiesel. Furthermore, Increased use of technology in many different fields has many benefits, such as less impact on the natural world, access to new sources of raw materials, and better ways to make things.
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The biofuels segment accounts for the largest market size during the forecast period
Based on the type, the global white biotechnology market is categorized into Biofuels, Biomaterials, Biochemicals, and Industrial Enzymes. The biofuels segment accounts for the largest market size during the forecast period. Biofuels like bioethanol and biodiesel are two examples. During the forecast period, it is expected that more pure biodiesel will be used in the auto industry, especially in the United States and Europe, to cut down on particles, hydrocarbons, and carbon monoxide. This will increase demand.
The pharmaceuticals segment to hold a higher CAGR during the forecast period
Based on the application, the white biotechnology market is categorized into Chemicals, Pharmaceuticals, Food and Beverage, Feed, and Other Applications. The pharmaceuticals segment to hold a higher CAGR during the forecast period. During the forecast period, technology is expected to be used more to make biopharmaceuticals, like antibodies used to treat cancer, that can't be made through chemical synthesis. This is expected to increase demand. Enzymes are also used in this process, which makes it possible to make chiral compounds and other intermediates that are hard to make and contain active pharmacological components (API). Over the next few years, the growth of the pharmaceutical industry is expected to drive the market.
Browse key industry insights spread across 196 pages with 110 market data tables and figures & charts from the report “Global White Biotechnology Market Size, Share, and COVID-19 Impact Analysis, By Type (Biofuels, Biomaterials, Biochemicals, and Industrial Enzymes), By Application (Chemicals, Pharmaceuticals, Food and Beverage, Feed, and Other Applications), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
Asia-Pacific is estimated to account for the highest market share in 2021.
The Global White Biotechnology Market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. In China, where the biotechnology sector has grown quickly over the past ten years, medical technologies and biologics have become the main drivers of the industry. In 2021, for instance, BASF Venture Capital (BVC) put money into Bota Biosciences Ltd. (Bota Bio). Bota Bio is a company that makes synthetic biotechnology for the industry. Its main office is in Hangzhou, China. Bota Bio makes next-generation biotechnology platforms that make it possible to make high-value products like sweeteners, vitamins, personal care products, and crop protection products in a sustainable and cost-effective way. North America to hold a higher CAGR during the forecast period.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global white biotechnology market include Amyris, BioAmber, Borregaard, Codexis, Deinove, Evolva, Fermentalg, Gevo, Global Bioenergies, Metabolic Explorer, Novozymes, and Solazyme and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the report.
Some of the Key Developments:
In the year 2021, BASF Venture Capital (BVC) gave money to Bota Biosciences Ltd (Bota Bio), an industrial synthetic biotech company in Hangzhou, China. Bota Bio focuses on making next-generation biotechnology platforms that make it possible to make high-value products like sweeteners, vitamins, personal care products, and crop protection products in a sustainable and cost-effective way.
In April 2021, Paraxel International Corporation told the public that they would be working together with Veeva in a strategic way. Increasing the number of clinical trials will require a team effort that includes new ways of doing things and better technology.
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