by The global white biotechnology market deals with the applications of biotechnology in industrial processes, covering a wide range of products such as biofuels, bio-based chemicals like organic acids, amino acids, industrial enzymes, antibiotics and biomaterials. White biotechnology aims at developing environment-friendly and sustainable production processes by replacing old chemical and physical based processes with bio-based ones. With growing environmental concerns and increasing regulations to curb emissions, industries are seeking innovative and eco-friendly methods for manufacturing various products. This is driving the demand for applications of industrial biotechnology in sectors including food and agriculture, pulp and paper, textile, energy, environment and chemicals.
The global White Biotechnology Market is estimated to be valued at US$ 312.17 Bn in 2023 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:
One of the key trends in the white biotechnology market is the increasing adoption of industrial enzymes. Enzymes have distinctive advantages over other biocatalysts. They perform functions like catalysis, metabolism, gene expression and signal transduction in living organisms. Industries are increasingly using enzymes produced by microbes to carry out various reactions. For example, animal feed industry uses enzymes in animal feed to improve digestion. Detergent manufacturing uses lipases and proteases for better cleaning. Due to their high degree of specificity and catalytic efficiency, industrial enzymes find applications in food processing, textiles, biofuel production and pharmaceutical manufacturing. Rising environmental awareness and stringent regulations are driving greater adoption of bio-based industrial processes using enzymes. Their cost-effectiveness as compared to chemical catalysts and green attributes would further propel the growth of industrial enzymes market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the white biotechnology market is moderate. Setting up novel production facilities requires high capital investments and technologies which deter new players.
Bargaining power of buyers: Buyers have low to moderate bargaining power in the white biotechnology market. The market has several global as well as regional vendors offering a variety of products which provide options to buyers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material sources and suppliers. However, switching costs for suppliers are low.
Threat of new substitutes: Threat of new substitutes is low as white biotechnology has limited close substitutes that can perform its functions effectively.
Competitive rivalry: The competitive rivalry in the market is high owing to presence of numerous established global as well as regional players offering a broad range of products.
Key Takeaways
The Global White Biotechnology Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: Europe is also expected to grow at a significant rate during the forecast period. This is mainly attributed to increasing consumption of biofuels and rising focus on better waste management practices across various European countries.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
