New York, NY -- (SBWIRE) -- 02/01/2021 -- Biotech ingredients are derived from genetically modifying organisms like bacteria and yeast. These consist of essential oils, oleoresins, and some plant-based extracts, mass-produced using various steam distillation, compression, or solvent extraction methods. Biotech ingredients find applications in the cosmetic industry. The global Biotech ingredients market is estimated to grow at a significant CAGR of 8.3% through the projection period and is assumed to escalate from USD 1.60 billion in 2019 to USD 3.03 billion by 2027.
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Leading Players Profiled in the Report 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.
Market Drivers:
The constant demand for variations in the organic beauty brands incorporated with biotech ingredients is seen to fuel the market growth. As these products are prepared from biotech ingredients that are sustainable, there has been a shift in the consumer buying patterns that have increased the demand for biotech ingredients. Increasing demand for bio-based products and the technological advancements in the field of biotechnology has boosted the growth of biotech ingredients. Rising innovations in the R&D activities for developing these biotech ingredients and the growing buying power in the developing countries are expected to boost the biotech ingredients market.
Regional Outlook:
Europe is the most prominent consumer of biotech ingredients. In 2019, Europe held more than a 35% share in the global biotech ingredients market owing to the establishment of various manufacturing chains for these ingredients and considerable production of bio-based chemicals, along with favorable government policies.
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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
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Biotech Ingredients Market Segmentation & Impact Analysis
4.1. Biotech Ingredients Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. The growing demand for bio-based products
4.2.2.2. The advancements in biotechnology
4.2.2.3. The COVID-19 pandemic
4.2.3. Market restraints analysis
4.2.3.1. The limited availability of raw materials
4.2.3.2. High initial cost
Continued….
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