Selbyville, Delaware, Jan. 25, 2022 (GLOBE NEWSWIRE) -- According to a recent report by Global Market Insights Inc., the global Biosurfactants Market size was estimated at USD 1.75 billion in 2020 and is anticipated to reach $2.60 billion by 2027, registering with a CAGR of 5.5% from 2021 to 2027. This report offers a comprehensive analysis of market size and predictions, major investments, drivers and opportunities, competitive scenario, winning strategies, and latest industry trends.
A significant surge in the demand for eco-friendly products and introduction to supportive government policies would potentially boost biosurfactants market demand over 2021-2027. Moreover, increasing environmental concerns regarding the use of synthetic surfactants like low toxicity and low degradability will further expand the need for biosurfactants in the coming years.
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Increasing consumer preference for towards the use of eco-friendly substitutes in cosmetics and personal care products has fostered the demand for Alkyl Polyglucosides [APG]-based biosurfactants over the recent years. Consequently, the APG (Alkyl Polyglucosides) segment is likely to register a CAGR of 6.5% over the forecast time span. Other than the cosmetics and personal care industry, biosurfactants are expected to attract an immense demand from different application verticals owing to its ample benefits.
Key reasons for biosurfactants market growth:
- Rising demand for sophorolipids biosurfactants in household detergents.
- Mounting adoption of industrial cleaners across commercial offices and manufacturing industries.
- Increasing use as fertilizers in the agricultural industry.
- Surge in use of sucrose esters-based biosurfactants in pharmaceutical industry.
2027 estimates depict the sorbitan esters segment to retaining traction:
Based on the product, the sorbitan esters segment is touted to account for a remuneration of $119.30 million by 2027 end. This can be credited to the escalating use of the product in different cosmetics and personal care products for their excellent properties like improved stability and compatibility with materials.
North America to continue its leading stance with respect to revenue:
On the basis of the regional landscape, North America, led by the U.S and Canada, observed an industry valuation of USD 5 million in 2020 from rhamnolipids-based biosurfactants market for personal care. Holding its top position, the regional market is speculated to grow at a rate of 5.5%, accounting for a USD 709. 25 million market share by 2027.
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Key market players:
Prominent players analyzed in the global biosurfactants market report include Henkel Corporation, Kao Corporation, Evonik Industries, Lion Corporation, TeeGene Biotech Ltd., Boruta Zachem SA, and AkzoNobel N.V, amongst others.
Impact of the COVID-19 pandemic on biosurfactants market
Biosurfactants industry growth was moderately affected by the novel coronavirus pandemic outbreak; owing to the supply chain issues caused by the lockdowns. However, increasing demand of these products for proper hygiene and sanitization in household applications are keeping the market dynamics afloat. While disruptions in the supply chain and unavailability of raw materials are expected to challenge the market growth, successful vaccination drives and reopening of economies would ensure steady growth.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
