White Biotech Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||572753|
|出版日期||內容資訊||英文 167 Pages
|全球白色生物科技市場:成長，趨勢，及預測(2019年∼2024年) White Biotech Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
|出版日期: 2021年07月01日||內容資訊: 英文 167 Pages||
The global white biotech market was valued at USD 641.68 billion in 2020 and is projected to witness a CAGR of 15.14% during the forecast period (2021 - 2026).
COVID-19 has provided a huge stimulus to the white biotech market. Massive efforts to develop vaccines, deploy test kits, develop highly predictive antibody tests, repurpose existing anti-viral drugs, and develop new drugs are causing billions of dollars to flow toward many biotech companies.
In 2021, the biotech sector may have a valuation at or above than the valuation it had in late 2019. Pre-clinical work is expected to be robust. Clinical trials may be near the volume of a year earlier. The regulatory review of clinical trials may be more efficient.
Furthermore, major pharmaceutical market giants are actively involved in product innovation and mergers and acquisitions with small-large pharmaceutical companies in order to make a stronghold on the white biotech market in the future.
Thus, the global COVID-19 pandemic has made a significant impact on the white biotechnology market in terms of innovation in the pharmaceutical industry, which is indicating a fruitful market growth of the category.
Rising consumer demand for green chemicals, majorly in developed regions like North America and Europe who are willing to pay a higher price or a green premium for numerous renewable products, is expected to push manufacturers to employ white biotechnology processes as opposed to traditional chemical manufacturing.
In addition, the rising need from various consumer industries, including automotive and consumer goods, to meet sustainability targets is expected to fuel technology demand over the forecast period.
Industrial biotechnology or white biotechnology is one of the most promising approaches to pollution prevention, resource conservation, and cost reduction. It is often referred to as the third wave in biotechnology. For example, the use of white biotechnology can lead to the reduction of carbon dioxide emissions by as much as 50%, energy consumption by 20%, and water consumption by 75%.
The growing awareness about the numerous benefits associated with the application of white biotechnology, such as eco-friendly, reduced manufacturing costs, low wastage generation, and maximum raw material consumption, among others, has boosted the demand for white biotechnology among end-users in the past couple of years. For instance, in pulp and paper production and bleaching, white biotechnology has led to the reduction of chlorine chemicals application by 10-15%. In addition, the process is more efficient, consuming 40% less energy than the traditional manufacturing process. Thus, it makes an important contribution to sustainability and optimum utilization of raw material, thereby reducing negative impacts on the environment while gaining maximum profit from the final product.
In addition, the rising need from various high-end industries, including automotive and consumer goods, to meet sustainability targets is boosting the demand for biofuels across the world.
China's biotech industry has grown rapidly over the past decade, and it is dominated by medical technologies and biologics. The growth is escalated by the biotechnologically altered food ingredients in the market. Thus, players are strategically investing in the local companies.
For instance, in 2021, BASF Venture Capital (BVC) invested in Bota Biosciences Ltd (Bota Bio), an industrial synthetic biotech company located in Hangzhou, China, which develops next-generation biotechnology platforms, enabling sustainable and economical production of high-value products for a broad array of industrial applications, like sweetener, vitamins, personal care, or crop protection products.
In addition to the above-mentioned industrial applications, white biotech has paved great opportunity in Japan's functional food and beverage segment too due to the increased consumer inclinational toward food and beverage with high nutritional claims. Thus, biochemicals and industrial enzymes are paving great opportunity in the country's food and beverage domain.
In 2020, DuPont Nutrition & Biosciences (DuPont) launched Powerfresh Special and Powersoft Cake 8010 in Japan, its latest enzyme range for sweet baked goods.
The global white biotech market is highly competitive, with a strong presence of regional and global players in the market, where demand is mostly driven by more adaptation toward consumer awareness on sustainability, efficient productivity, and others. Hence, the players operating in the market are trying to position themselves according to the demographic group.
Further, prominent players like Corbion, ADM, and DuPont in the market have been focusing on developing new and innovative products by targeting the new formulation for the market, thereby engineering the various unexplored microorganisms in the market.