The White Biotechnology Market Size was valued at USD 408.90 billion in 2022, and is expected to reach USD 908.91 billion by 2030 and grow at a CAGR of 10.5% over the forecast period 2023-2030.
White biotechnology, also known as industrial biotechnology, is a rapidly growing sector that focuses on the use of living organisms or their components to develop innovative products and processes for various industries. This market encompasses a wide range of applications, including biofuels, biomaterials, enzymes, and bioplastics.
One of the key drivers behind the growth of the white biotechnology market is the increasing demand for sustainable and eco-friendly solutions. As concerns about climate change and environmental degradation continue to rise, industries are seeking alternatives to traditional chemical-based processes. White biotechnology offers a promising solution by utilizing renewable resources and reducing greenhouse gas emissions.
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The biofuels segment within the white biotechnology market has gained significant attention in recent years. With the depletion of fossil fuel reserves and mounting concerns over carbon emissions, there is a growing need for cleaner energy sources. Biofuels derived from agricultural crops or waste materials offer a renewable alternative to conventional fuels. This not only helps reduce dependence on fossil fuels but also contributes to the reduction of greenhouse gas emissions, making biofuels a promising solution for a more sustainable future.
KEY MARKET SEGMENTS
By Type
· Biomaterials
· Biochemicals
· Biofuels
· Industrial Enzymes
By Application
· Chemicals
· Food and Beverages
· Pharmaceuticals
· Feed
Major Players Listed in the Report are as Follows:
Archer Daniels Midland Company, Koninklijke DSM N.V, BASF SE, Cargill, Inc., McKesson Corporation, Corbion N.V., Le saffre, Novozymes, GE Healthcare, Fujifilm Holdings Corporation and Other Players
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