The global biotech ingredients market size reached US$ 56.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.22% during 2023-2028.
Biotech ingredients are prepared using organisms like algae, yeast or bacteria that undergo deoxyribonucleic acid (DNA) editing to enhance the metabolic process of microbes. They are cost-effective and generate a low environmental impact than ingredients processed using petrochemicals. They act as a sustainable alternative to formulate plant-based extracts, which can counteract oxidative damages and slow down the aging process. Consequently, cosmetics companies worldwide are extensively using biotech ingredients to develop and evaluate the activity of natural active components on the skin.
Biotech Ingredients Market Trends:
A considerable shift in consumer preferences towards safe, potent, advanced and ef cacious cosmetics solutions represents one of the key factors encouraging the adoption of biotech ingredients to produce new cosmetic formulas, ranging from hyaluronic acid to collagen. Additionally, the escalating demand for organic and sustainable products is promoting the utilization of biotech ingredients in hybrid skincare products. The leading market players are also investing in research and development (R&D) to introduce innovative products. For instance, they are focusing on biomimetics, 3D bioprinting and plant tissue culture technologies to develop next-generation beauty products. In line with this, they are recycling, sterilizing and disposing of the waste generated during the production process, which helps in reducing the carbon footprint of raw materials. Apart from this, biotech ingredients are gaining traction in the food and beverage (F&B) industry for adding flavors and improving enzymes and emulsifiers applications. Furthermore, the usage of these ingredients is anticipated to rise in the pharmaceutical industry to formulate active ingredients from natural sources.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biotech ingredients market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type and application.
Breakup by Type:
Breakup by Application:
Food and Beverages
Personal Care and Cosmetics
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AbbVie Inc., Advanced Biotech, Amyris Inc., Becton Dickinson and Company, Bell Flavors & Fragrances Inc., Bruker Corporation, Evolva AG, Evonik Industries AG, GlaxoSmithKline plc., International Flavors & Fragrances Inc., Merck KGaA and Sanofi SA.
Base Year of the Analysis
Type, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
AbbVie Inc., Advanced Biotech, Amyris Inc., Becton Dickinson and Company, Bell Flavors & Fragrances Inc., Bruker Corporation, Evolva AG, Evonik Industries AG, GlaxoSmithKline plc., International Flavors & Fragrances Inc., Merck KGaA and Sanofi SA
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Key Questions Answered in This Report
The global biotech ingredients market was valued at US$ 56.4 Billion in 2022.
We expect the global biotech ingredients market to exhibit a CAGR of 5.22% during 2023-2028.
The growing popularity of organic, safe, potent, and sustainable beauty products over
petrochemical-based variants, owing to their cost-effective and eco-friendly properties, is primarily
driving the global biotech ingredients market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations, resulting in the temporary closure of numerous
manufacturing units, thereby limiting the demand for biotech ingredients.
Based on the type, the global biotech ingredients market has been segmented into yeast, algae, and
others. Currently, algae type represents the largest market share.
Based on the application, the global biotech ingredients market can be bifurcated into food and
beverages, personal care and cosmetics, cleaning products, and others. Among these, the personal
care and cosmetics sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle
East and Africa, and Latin America, where Europe currently dominates the global market.
Some of the major players in the global biotech ingredients market include AbbVie Inc., Advanced Biotech, Amyris Inc., Becton Dickinson and Company, Bell Flavors & Fragrances Inc., Bruker Corporation, Evolva AG, Evonik Industries AG, GlaxoSmithKline plc., International Flavors & Fragrances Inc., Merck KGaA, and Sanofi SA.
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