White biotechnology uses living cells such as micro-organisms, enzymes and yeasts for industrial applications and production purposes to create commercial products like biofuels, biochemicals, bio plastics, paper and more. The rise in demand for eco-friendly products has accelerated the growth of white biotechnology market. Synthetic biology uses techniques of molecular biology and genetics to redesign natural biological systems for more useful purposes. The use of synthetic biology for developing new and improved cell lines and enzymes has accelerated the growth of white biotechnology market.
The global White Biotechnology Market is estimated to be valued at US$ 312.17 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Synthetic biology has increased production efficiency and optimized cost for white biotechnology products. Synthetic biology helps design new cell lines and enzymes that can perform the desired biochemical reactions more efficiently as compared to natural cell lines and enzymes. This increases productivity and reduces production cost. Chemically synthesized DNA sequences and genetic parts libraries available due to synthetic biology techniques help program microbes to execute multistep reactions or secret multiple enzymes. Furthermore, synthetic biology approach aids in developing robust microbial strains with consistent and controlled performance in large scale industrial fermentations. This has accelerated the adoption of white biotechnology and boosted the market growth over the forecast period.
Segment Analysis
The global white biotechnology market is dominated by the bio-fuel and bio-power sub-segment. Biofuels like bioethanol and biodiesel have replaced fossil fuels significantly in the transportation sector. Various countries have instituted blending mandates and incentive programs promoting the production and usage of biofuels made from feedstock like corn, sugarcane and vegetable oils. countries like the US, Brazil and few European nations have set targets to meet a certain percentage of their transportation fuel needs from biofuels. This continues to drive the growth of the bio-fuel sub-segment.
Key Takeaways
The global white biotechnology market is expected to witness high growth over the forecast period.
Regional analysis: The North America region holds the largest share in the global white biotechnology market currently. Countries like the US and Canada have actively funded research and development of renewable fuels and green chemicals production through white biotechnology. Europe is another major region and Government initiatives promoting eco-friendly technologies in countries like Germany, UK, Netherlands have accelerated market growth. Asia Pacific region is anticipated to grow at the fastest pace with expanding biofuel and biotech industries in China, India and Southeast Asia.
Key players operating in the white biotechnology market are: EveryoneSocial, Hootsuite, Sociabble, PostBeyond, Dynamic Signal, Sociabble, MarketBeam, Bambu by Sprout Social, Influitive, GaggleAMP, Rallyware, Ambassify, DrumUp, SocialChorus, Speakap, PostBeyond, Dynamic Signal, Sociabble, Bambu, Influitive.
For more details on the report, Read- https://www.insightprobing.com/white-biotechnology-market-size-and-share/
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