Increasing adoption in Developing Methods to Replace Petroleum-based Synthetics for White Biotechnology Market
Overview
White bio-technology is widely used in manufacture of bio-fuels, bio-materials, and bio-chemicals. Examples of bio-chemicals include levulenic acid, butanediol, succinic acid, acrylic acid, and lactic acid. Generally, bio-fuels are prepared from carbohydrates of starch and sugar crops. Some of the bio-materials are bio-plastics and bio-polymers.
Statistics
By 2027, the global white biotechnology market is forecasted to have a market capital of US$ 299.9 billion.
Drivers
Rising adoption of bio-materials in the healthcare industry is expected to stimulate growth of the global white biotechnology market during the forecast period. In October 2019, German researchers from Institute of Pharmacology and Toxicology, had reported that marine bio-materials which are pre-fabricated naturally, can help in preparing a new sponge chitin-based absorbable hemostats as a substitute for cellulose-based fabrics.
Opportunities
Rising demand for organic food across the globe is expected to provide robust growth opportunities for companies operating in the global white biotechnology market. As per the Organic Industry Survey done by the Organic Trade Association, in 2018, the sales of organic food had increased by 5.9% to attain about US$ 47.9 billion in the U.S., and these sales accounted for 5.7% of overall food sales, a 2.3% hike from 2017.
Restraints
High cost associated with bio-products as compared to traditional products is expected to obstruct growth of the global white biotechnology market. Polyactic acid can be priced about 20 to 50% more than the traditional materials. Higher cost of bio-products is due to its complex production.
The prominent players in the White Biotechnology Market are Archer Daniels Midland Company, BASF SE, Cargill, Inc., Corbion N.V., Koninklijke DSM N.V, DuPont, Lesaffre, Novozymes, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Medical Corporation, Hologic, Inc., iCAD, Inc., InVivo Corporation, McKesson Corporation, Merge Healthcare Incorporated (IBM), Philips Healthcare, Samsung Medison Co. Ltd., Siemens Healthcare, and Toshiba Medical Systems Corporation.
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Key Takeaways
During the forecast period (2020-2027), the global white biotechnology market had a valuation of US$ 207.5 billion in 2019 and is anticipated to attain a capital of US$ 299.9 billion by 2027 with a CAGR of 4.7%. Increased adoption of bio-materials in the healthcare industry is expected to augment growth of the global white biotechnology market during the forecast period.
In 2019, the Bio-fuel segment held a commanding position in the global white biotechnology market, contributing about 34.7% of market share, which was followed by Bio-chemical and Bio-material segments, respectively. Increase in investment for production of bio-fuels along with adoption of collaborative strategies among key players in the market.
Market Trends
Companies operating in the market are having a focus on bio-diesel’s real-world efficacy. In February 2020, the Archer Daniels Midland Company under a collaboration for conducting a one-year project of bio-diesel technology in order to achieve fleet application of higher mileage, had declared that five trucks of the company were going to be outfitted with a technology which will allow diesel engines to operate on sustainable biodiesel, Optimus Technologies’ Vector fuel system.
The focus of key companies in the market on adopting merger and acquisition strategies to broaden their portfolio of products. In September 2019, BASF SE had acquired Isobionics, a natural fragrances and flavors provider.
Competitive Landscape
Key companies contributing in the global white biotechnology market are GE Healthcare, InVivo Corporation, iCAD, Inc., Philips Healthcare, Hologic, Inc., Koninklijke DSM N.V, Lesaffre, Corbion N.V., Archer Daniels Midland Company, Cargill, Inc., Toshiba Medical Systems Corporation, BASF SE, Fujifilm Holdings Corporation, Novozymes, DuPont, Siemens Healthcare, Samsung Medison Co. Ltd., Merge Healthcare Incorporated (IBM), McKesson Corporation, and Hitachi Medical Corporation.
Key Developments
In March 2020, Koninklijke DSM N.V had collaborated with a sustainable raw materials provider, UPM Biofuels, to minimize the surrounding footprint of Dyneema fiber by converting it into eco-feedstock.
In June 2019, Corbion Biotech Inc., had collaborated with The Lubrizol Corporation to launch the AlgaPur, a high oleic algae, high stability oil in the cosmetic and personal care markets.
Main points in White Biotechnology Market Report Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global White Biotechnology Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: White Biotechnology Industry Impact
Chapter 2 Global White Biotechnology Competition by Types, Applications, and Top Regions and Countries
2.1 Global White Biotechnology (Volume and Value) by Type
2.3 Global White Biotechnology (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global White Biotechnology Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America White Biotechnology Market Analysis
Chapter 6 East Asia White Biotechnology Market Analysis
Chapter 7 Europe White Biotechnology Market Analysis
Chapter 8 South Asia White Biotechnology Market Analysis
Chapter 9 Southeast Asia White Biotechnology Market Analysis
Chapter 10 Middle East White Biotechnology Market Analysis
Chapter 11 Africa White Biotechnology Market Analysis
Chapter 12 Oceania White Biotechnology Market Analysis
Chapter 13 South America White Biotechnology Market Analysis
Chapter 14 Company Profiles and Key Figures in White Biotechnology Business
Chapter 15 Global White Biotechnology Market Forecast (2021-2027)
Chapter 16 Conclusions
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