The global white biotech market is projected to witness a CAGR of 15.14% during the forecast period (2021 - 2026)

 

White biotechnology, also known as Industrial Biotechnology, is the use of microorganisms and their enzymes to produce goods for industry such as chemicals, plastics, pharmaceuticals, food, and energy carriers. These renewable raw materials and waste from forestry and agriculture are used in the production of industrial goods. White biotechnology is only used in industry to replace polluting substances. The technology employs living cells derived from molds, bacteria, plants, and yeast to synthesize easily degradable products. It may require less energy and generate fewer byproduct wastes. White biotechnology is used in the production of metabolites, waste treatment, the production of biocontrol agents, the production of bio-based fuel and energy, and other applications.

The global white biotechnology market demand was USD 203.28 billion in 2015 and is expected to grow at a CAGR of 10.2 percent between 2016 and 2024 due to its increasing use in the production of biofuels such as bioethanol and biodiesel. This technology is used to produce about 4% of all chemical products, including organic acids, amino acids, ethanol, and a variety of vitamins.

Increasing the use of technology across various industries due to its numerous benefits such as environmental friendliness, new raw material chains, efficient production methods, reduced manufacturing costs, low waste generation, and raw material consumption is expected to have a positive impact on the market over the next eight years.

Rising consumer demand for green chemicals, particularly in North America and Europe, where consumers are willing to pay a higher price or a green premium for a variety of renewable products is expected to push manufacturers to use white biotechnology rather than traditional chemical manufacturing.

The global market has been divided into three categories based on product: biofuels, biochemicals, and biopolymers. In 2015, biofuels derived from white biotechnology accounted for more than 35% of total revenue. The rising use of biodiesel in its pure form in the automotive industry, particularly in the United States and Europe, to reduce particulates, hydrocarbons, and carbon monoxide levels are expected to drive demand during the forecast period.

COVID-19 has provided a significant boost to the white biotech market. Efforts to develop vaccines, deploy test kits, create highly predictive antibody tests, repurpose existing anti-viral drugs, and develop new drugs a

The market report is divided into five sections based on application: chemicals, pharmaceuticals, food and beverages, feed, and others. The market is divided into four regions: North America, Europe, Asia-Pacific, and the Rest of the World. Market sizing and forecasting for each segment have been done based on value (in USD million) and volume (in million ton)re causing billions of dollars to flow into many biotech companies.

EUCODIS Bioscience and Biosynth Carbosynth signed a new distribution agreement for EUCODIS enzyme products in November 2020.