Biotech Ingredients Market Size, Share, Trends, Growth and Forecast 2032

Biotech Ingredients Market Insights

According to Zion Market Research, the global Biotech Ingredients Market was worth USD 2.27 Billion in 2023. The market is forecast to reach USD 4.78 Billion by 2032, growing at a compound annual growth rate (CAGR) of 8.64% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Biotech Ingredients industry over the next decade.

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The report offers assessment and analysis of the Biotech Ingredients market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2018 to 2023 along with a forecast from 2024 to 2032 based on revenue (USD Billion).

Biotech Ingredients Market Introduction

Biotech ingredients are extracted through genetic modification of microbes like bacteria and yeast.  These include essential oils, many plant extracts, and oleoresins. In addition to this, biotech ingredients are utilized massively in various personal care as well as cosmetics items preparations. The products are mainly derived by utilization of solvent extraction, cold pressing, carbon dioxide extraction, and steam distillation methods.

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Biotech Ingredients Market Growth Dynamics

Swift industrialization has resulted into large-scale use of scented or flavored items like food & beverages, cleaning & household items, and personal care items. This, in turn, will steer the growth of biotech ingredients industry over the estimated timespan. In addition to this, use of biotechnology for producing active ingredients for its most prominent usage in personal care & cosmetic sector will generate lower carbon footprints with low costs, thereby further embellishing the growth rate of the market over the forecasting years.

Moreover, growing preference for organic items as well as products possessing natural beauty has made the use of biotech ingredients more popular among the cosmetic product manufacturers and this will further steer the market trends. Apparently, rise in the awareness pertaining to hazardous effects of using artificial or synthetic ingredients will prop up the market growth over the estimated timeframe.  

Biotech Ingredients Market: Report Scope

Europe To Continue Its Market Dominance During 2024-2032

The growth of the market in Europe during the forecast timespan is owing to governments in various countries of Europe favoring the product use. In addition to this, EU has introduced schemes promoting the use of biotech ingredients in personal care & cosmetic industry and this will stimulate the regional market growth over the coming years.

The key players influencing the market growth are-

• Givaudan
• International Flavors and Fragrances
• Firmenich SA
• Advanced Biotech
• Isobionics Allylix
• Evolva S.A.
• Symrise A.G

The global biotech ingredients market is segmented as follows:

By Flavor

• By Source
  • Bacteria
  • Yeast
  • Filamentous Fungi
• By Product
  • Carbonyls
  • Lactones
  • Alcohols
  • Acids
• By Carbonyls
  • Ketones
  • Aldehydes

By Fragrance

• Fine Fragrances
• Toiletries
• Others

By Active Cosmetic Ingredient

• Hair Care
• Skin Care
• Sun Care
• Makeup and color cosmetics

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa