by White biotechnology involves the use of living organisms such as microorganisms, enzymes, plant and animal cells to develop various industrial applications and processes. It helps in developing bio-based chemicals, materials and fuels from renewable feedstocks in a sustainable manner with lower greenhouse gas emissions. White biotech products include bio-polymers, bio-plastics, enzymes and biochemicals which are used across various end use industries like textiles, construction, automotive, food processing and pharmaceutical industries. These products provide advantages like sustainability, renewability and biodegradability over conventional petrochemical derived products. The global White Biotechnology Market is estimated to be valued at US$ 312.17 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for renewable and sustainable products across various industries is a key trend driving the growth of the white biotechnology market. Bio-based materials developed using white biotechnology help reduce dependency on fossil fuel-based products and provide an eco-friendly alternative. Various industries are switching to white biotechnology derived biochemicals, plastics and materials for achieving sustainability targets. Governments across regions are also supporting the adoption of bio-based products through policies and subsidies. Continuous innovations to develop new and improved white biotechnology products coupled with expansion of application areas will further contribute to the market growth over the forecast period.
SWOT Analysis
Strength: White biotechnology utilizes eco-friendly techniques for production processes, giving it an edge over conventional methods. It relies on renewable biological resources and produces less waste.
Weakness: The initial setup and R&D costs associated with white biotechnology are quite high. Convincing producers to shift from established conventional methods also poses a challenge.
Opportunity: Rising environmental concerns are driving demand for sustainable production techniques. The market offers opportunities to replace chemical and petrochemical manufacturing with eco-friendly alternatives.
Threats: Fluctuations in raw material prices can impact the costs of white biotechnology products. stringent regulations also limit the scope of certain applications.
Key Takeaways
The Global White Biotechnology Market Demand is expected to witness high growth.
Regional analysis comprises the market in Europe dominates currently due to strong government support for sustainable technologies. The region accounts for over 40% share and the trend is expected to continue over the forecast period.
Key players operating in the white biotechnology market are EveryoneSocial, Hootsuite, Sociabble, MarketBeam, Bambu by Sprout Social, Influitive, GaggleAMP, Rallyware, Ambassify, DrumUp, SocialChorus, Speakap, PostBeyond, Dynamic Signal. White biotechnology helps industries like food and feed, bioenergy, pharmaceuticals, and paper and pulp reduce dependence on fossil fuels and chemical synthesis. It offers economically viable and environmentally sustainable alternatives.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
