Biotech Ingredients Market To Reach USD 3.03 Billion By 2027 | Reports and Data

New York, May 20, 2020 (GLOBE NEWSWIRE) -- The Global Biotech Ingredients market is forecasted to reach USD 3.03 Billion by 2027, according to a new report by Reports and Data. One of the major driving factors fostering the growth of the market is the constant emphasis of various beauty brands on availing the advantage of using these ingredients in their products. The incorporation of these ingredients in their products helps in the promotion of these products and claiming that the products made from these ingredients are sustainable. The shift in consumer buying patterns is another the mentionable factors supporting the growth of the market. The continuously expanding cosmetic and personal care sector and the elevating demand for organic and natural products among consumers is resulting in an increasing emphasis on R&D activities to develop these ingredients. There has been constant emphasis on advancements of these ingredients and launch of various new offerings on the market have resulted in an increase in the number of the ingredients presently available for such applications. Furthermore, the COVID-19 pandemic has resulted in increasing demand for cleaning & household and personal care products, which is also acting as a driving factor for the expansion of the market.   

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The COVID-19 Impact: One of the immediate impacts of the COVID-19 pandemic is the increasing demand for personal care and house cleaning products. The epidemic has resulted in the growing demand for particularly protective personal care. The epidemic has resulted in changing consumer behavior in regards to the purchase of toiletries and cosmetic products. The market players operating in the sector are experiencing a growth in demand for personal care products along with increasing acceptance and popularity of brands that represent safety and competence both from environmental and health perspectives. Essentially as maintaining personal hygiene is an integral aspect of flattening the curve of transmission of the disease, it is also resulting in contributing to the growing demand for these products among consumers. Thus, such growing demand for these products would result in fostering the growth of the market. In regards to companies playing to initiate their operation in this sector, they may also take into consideration the expectations and demands of the consumers for successfully penetrating the market.   

Further key findings from the report suggest

• In regards to Source, the Yeast segment held a significant market share of more than 35.0% in 2019. The yeast is considered as one of the most versatile tool in biotechnology, which has resulted in its extensive use in manufacturing this product contributing to the market share held by this segment.
• In context of Flavor, the Natural flavor segment is projected to occupy more than 40.0% of the market by 2027. The market share occupied by the Natural flavor segment is attributed to increasing demand for sustainable and bio-based products among consumers, which is resulting in growing popularity of natural flavors.
• In context to Application, the Cleaning and household products segment is projected to witness a considerable growth rate of 8.8% during the forecast period. The growth rate witnessed by the Cleaning and household products segment is attributed to increasing awareness regarding health and hygiene, particularly in developing regions, which is resulting in increasing demand for these products contributing to the growing demand for these ingredients for these products.      
• In November 2019, when the company announced that it had applied its breakthrough biotechnology for producing a sustainable version of the company’s tested Ambrofix fragrance ingredient. The biotechnology used by the company includes fermenting sugar that are sustainably sourced to produce the ingredient that the company claims is completely naturally derived, and it is totally renewable carbon.
• Key participants include Bell Flavors & Fragrances, Inc., Advanced Biotech, Sigma-Aldrich (Millipore Sigma), Frutarom Industries Limited, International Flavors & Fragrance (IFF), Inc., Givaudan SA, Firmenich SA, T.Hasegawa Co., Ltd., Hayashibara Co., Ltd. and Amyris, Inc.
• Deals Landscape
• In 2018, IFF declared that it is planning to combine Frutarom in its functioning. The aim of the initiative was to develop an international leader in scent, taste, and nutrition and to accelerate its Vision 2020 strategy.
• In March 2018, Frutarom, with its second acquisition, expanded in Latin America. Pollena Aroma, an Israeli company Turpaz and Polish company, was acquired by Frutarom in 2017, along with nine other acquisitions. Thus, with the help of such an initiative, the company could strengthen its positioning in the Latin American market.

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For the purpose of this report, Reports and Data have segmented the Biotech Ingredients market on the basis of Ingredients Source, Flavor, Application, and region:

Source Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• Yeast
• Bacteria
• Filamentous Fungi
• Others

Flavor Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• Natural flavor
• Synthetic flavor

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• Foods and Beverages
• Cleaning and household products
• Personal care and cosmetics
• Others

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/biotech-ingredients-market

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)

• North America
  • U.S
• Europe
  • U.K
  • France
• Asia Pacific
  • China
  • India
  • Japan
• MEA
• Latin America
  • Brazil

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