White Biotechnology Market Set to Explode: USD 389.69 Billion by 2032 | Driven by Biofuels, Biomaterials & More
Research Reports
Jun 18, 2024
Market Overview
White Biotechnology Market Research Report Information By Type (Biofuels, Biomaterials, Biochemicals, and Industrial Enzymes), By Application (Bioenergy, Pharmaceuticals, Food and Beverages, Feed, and Other Applications) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.
White Biotechnology Market Size was valued at USD 251.2 Billion in 2022. The White Biotechnology market industry is projected to grow from USD 263.76 Billion in 2023 to USD 389.69 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.00% during the forecast period (2024 – 2032).
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Market Dynamics
The market CAGR for White Biotechnology is being driven by increasing awareness of sustainability and environmental issues. White biotechnology, also known as industrial biotechnology, involves using living cells and enzymes to produce chemicals and materials. Its primary focus is on creating environmentally friendly and sustainable methods across various industries, such as manufacturing, agriculture, and energy. The main goal is to replace traditional methods with those that use less energy and generate less waste.
Concerns about resource depletion and climate change are also fueling growth in the white biotechnology industry. As companies recognize their role in these environmental challenges, there is a growing need for sustainable solutions. White biotechnology offers a revolutionary approach by using biological processes to create bio-based products with a lower carbon footprint and reduced waste. These environmentally friendly solutions are increasingly being adopted by industries to meet sustainability targets, support corporate social responsibility, and promote environmental stewardship. The urgent need to mitigate the harmful effects of traditional industrial processes on ecosystems makes white biotechnology the preferred choice for businesses transitioning to greener operations.
Globally, governments are implementing laws and offering incentives to promote the adoption of bio-based technologies. Regulatory frameworks encouraging the use of bio-based goods and renewable resources facilitate the uptake of white biotechnology by industries. Incentives such as tax credits, grants, and subsidies support research, development, and the use of sustainable solutions. By aligning their strategies with these regulations and incentives, industries can achieve compliance and seize opportunities for innovation and growth. The collaboration between the white biotechnology market and government support ensures a regulatory environment that fosters sustainable industrial practices and accelerates the transition to greener alternatives.
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Segment Analysis
The global White Biotechnology market is segmented based on Type and Application.
By Type
The market is divided into Biofuels, Biomaterials, Biochemicals, and Industrial Enzymes. In 2023, the Biochemicals segment held the largest market share. This growth is driven by the increasing demand for bio-based chemicals as businesses focus on reducing their carbon footprints and adopting sustainable practices.
By Application
The market is categorized into Bioenergy, Pharmaceuticals, Food and Beverages, Feed, and Other Applications. In 2023, the Bioenergy segment was expected to dominate the market. The rising demand for greener energy sources and the effort to reduce carbon footprints are key drivers for this segment’s growth.
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Regional Analysis
The global White Biotechnology market is segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World.
North America
Including the US and Canada, North America maintained the largest market share. This dominance is due to the presence of established biotechnology companies, significant R&D investments, and government policies that support sustainable and eco-friendly solutions. The strong focus on environmental sustainability in sectors such as energy, pharmaceuticals, and agriculture drives the demand for white biotechnology in this region.
Europe
Europe is a significant market for white biotechnology, influenced by stringent environmental regulations and a strong commitment to sustainable development. The region benefits from a robust regulatory framework and well-established infrastructure for biotechnology R&D. European countries actively promote the use of bio-based products in industries like chemicals, food and beverages, and pharmaceuticals. The European Union’s initiatives to foster a circular economy and the increasing adoption of biofuels and bioplastics are expected to further drive the growth of white biotechnology.
Asia-Pacific
The Asia-Pacific region is experiencing rapid growth in the white biotechnology market, driven by its large population, rising disposable incomes, and growing awareness of sustainable practices. Significant investments in R&D by countries like China and India have spurred innovation and technological advancements in white biotechnology. The region’s fast industrialization and increasing demand for eco-friendly solutions also contribute to market expansion.
Rest of the World
This segment includes the Middle East, Africa, and Latin America. The market in these regions is growing as concerns about environmental pollution drive a shift towards sustainable and renewable energy sources.
Competitive Dynamics
MRFR recognizes the following companies as the key players in the global White Biotechnology market— EUCODIS Bioscience GmbH, Dupont De Nemours Inc., Koninklijke DSM NV, BASF SE, Evonik Industries AG, Lonza Group Ltd, Laurus Labs, Corbion NV, Novozymes, and Archer Daniels Midland Company.
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