New York, United States , Jan. 15, 2023 (GLOBE NEWSWIRE) -- The Global Farnesene Market Size to grow from USD 250.00 million in 2021 to USD 387.83 million by 2030, at a Compound Annual Growth Rate (CAGR) of 5% during the forecast period. The growing need for the farnesene in the cosmetics and personal care sectors is projected to be the main driver of market demand. The overall market expansion will be supported by the increasing consumer interest in natural and organic cosmetics and components. The aroma of a gardenia or the distinctive smell of green apples are produced by combining natural farnesenes that are found in fruit skins or essential oils.
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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.
Browse key industry insights spread across 198 pages with 79 market data tables and figures & charts from the report “Global Farnesene Market Size, Share, and COVID-19 Impact Analysis, By Application (Cosmetics & Personal Care, Performance Material, Flavors & Fragrances and Fuels & Lubes) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2030.”, in detail along with the table of contents
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The Fuels & Lubes segment to hold a higher CAGR during the forecast period.
Based on the application, the farnesene market is categorized into Cosmetics & Personal Care, Performance Material, Flavors & Fragrances and Fuels & Lubes. The Fuels & Lubes segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Fuels & Lubes segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because this is explained by It is projected that the expanding transportation sector would boost demand for alternative fuels and lubricants on the market and help the development of farnesene. Governments have undertaken several steps to reduce CO2 and other greenhouse gas emissions, assisting in the expansion of the farnesene sector, and consumers are strongly pushed to use biofuels.
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North America to hold a higher CAGR during the forecast period.
The global farnesene market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Europe is estimated to account for the highest market share in 2022. The demand for farnesene is being driven by the rising acceptance by the market. The market for Farnesene was dominated by the Europe region Over the projection period, farnesene demand is anticipated to be driven by Europe's expanding cosmetic and personal care market. The demand for farnesene in the region is anticipated to rise as a result of changes in consumer spending patterns and rising disposable incomes in the area.
Some of the Key Developments:
In December 2020, The U.S.-based synthetic biotechnology business Amyris and the corporation DSM Nutritional Products completed a 50-million-dollar strategic arrangement for the supply of farnesene. The partnership between the two businesses will assist DSM in obtaining a licence to undertake distribution of the bio-based substance farnesene. The deal will also satisfy market interest in and demand for chemistry produced cleanly and responsibly.
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Competitive Landscape
The report offers the appropriate analysis of the key organizations/companies involved within the global Complex Inorganic Color Pigments Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including 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 Farnesene Market include Chromatin, Intrexon, Amyris, Penta Manufacturer, Tate & Lyle, Toronto Research Chemicals, Bedoukian Research, Katyani Exports, Santa Cruz Biotechnology, Triveni Chemicals, KURARAY Co., LTD., International Flavors & Fragrances, Total, Precigen, Antibiotics de Leon and Others.
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Global Farnesene Market Size, Share, and COVID-19 Impact Analysis By Application (Cosmetics & Personal Care, Performance Material, Flavors & Fragrances and Fuels & Lubes) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2030
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