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The global biotech ingredients market was valued at US$ 53.8 Billion in 2021.
We expect the global biotech ingredients market to exhibit a CAGR of 5.16% during 2022-2027.
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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