What Has Been the Growth Trajectory of the Biotech Ingredient Market?
The biotech ingredient market has seen considerable growth due to a variety of factors.
• The market size for biotech ingredients has seen a significant increase in recent years. It is projected that its worth will escalate from $59.9 billion in 2024 to $63.86 billion in 2025 with a compound annual growth rate (CAGR) of 6.6%. The substantial growth experienced in the past years is credited to technological advancements in the food and beverage sector, rising use of biofuels, a surge in consumer demand for functional foods, and rapid progress in genetic engineering.
How Does the Forecast Look for the Biotech Ingredient Template Market?
The Biotech Ingredient market is expected to maintain its strong growth trajectory in upcoming years.
• The biotech ingredient industry is projected to witness a significant expansion in its market size over the next several years, with an expected valuation of $83.5 billion by 2029 and a compound annual growth rate (CAGR) of 6.9%.
This forecasted growth is primarily driven by factors like the emergence of personalized nutrition, increase in cell-based meat production, advancements in therapeutic biotech components, bio ingredients contributing to waste diminution, and the transition towards bioplastics. Key trends for the forecasted period encompass the rise of biotech-infused functional foods, the application of biotech solutions in circular economy systems, expansion of therapeutic biotech components, biotech units employed in clean energy generation, and the worldwide emphasis on preserving biodiversity.
What Are The Leading Drivers Of Growth In The Biotech Ingredient Market?
The uptick in generic medicine requirements is predicted to boost the growth of the biotech ingredient market. Generic medicines are drugs manufactured to emulate the properties of an already sanctioned medicine. Utilized in general medicine, biotech ingredients are the main avenue for offering a less expensive, more productive alternative to produce a variety of active ingredients that bear a close resemblance to the original product. These are usually governed by a comprehensive set of rules. For example, the Personalized Medicine Coalition, a professional organization in the US, indicated in 2022 that the authorization of 12 newly personalized medicines was responsible for approximately 34% of all newly approved treatments. This marked a perceptible growth compared to preceding years. Hence, the growing demand for generic medicines is fuelling the expansion of the biotech ingredient market.
How Are The Segments Defined Within The Global Biotech Ingredient Market?
The biotech ingredient market covered in this report is segmented –
1) By Type: Active Pharmaceutical Ingredients, Biosimilars
2) By Expression Systems: Mammalian Expression Systems, Microbial Expression Systems, Yeast Expression Systems, Plant Expression Systems, Insect Expression Systems
3) By Application: Food And Beverages, Personal Care And Cosmetics, Cleaning Products, Other Applications
Subsegments:
1) By Active Pharmaceutical Ingredients (APIs): Biologic APIs, Synthetic APIs
2) By Biosimilars: Monoclonal Antibodies, Recombinant Proteins, Insulin Biosimilars
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How Are New Trends Expected To Influence The Growth Of The Biotech Ingredient Market?
Advancements in technology have become a prominent trend in the biotech ingredient market. Companies in the forefront of the biotech ingredient sector are leveraging these advancements to create innovative products and cement their market position. To illustrate, in March 2023, International Flavors & Fragrances Inc., a leading US company that manufactures fragrance, biotech solutions, cosmetic energetics, and organic health ingredients, introduced Aurist AGC, an innovative biopolymer for hair care. This exemplifies the potential of the new DEB platform, which harnesses IFF's extensive biotechnological functionality to provide continuous, high-quality glamour solutions that can truly drive change in the cosmeceutical sector. The ingredient employs IFF's proprietary Designed Enzymatic Biopolymers (DEB) technology, an advanced biotechnology that generates unique biobased polysaccharides with distinct structures and product characteristics.
Who Are the Key Players In The Biotech Ingredient Market?
Major companies operating in the biotech ingredient market include:
• Merck & Co. Inc.
• Sanofi S.A.
• AbbVie Inc.
• International Flavors & Fragrance (IFF) Inc.
• Novartis AG
• Pfizer Inc.
• Teva Pharmaceutical Industries Ltd.
• Mylan Inc.
• Boehringer Ingelheim International GmbH.
• AstraZeneca plc.
• Givaudan
• Firmenich SA
• Amyris Inc.
• Advanced BioTech
• Sollice Biotech
• Novocap S.A.
• Eli Lilly
• Bristol-Myers Squibb Company
• GlaxoSmithKline plc.
• F. Hoffmann-La Roche AG
• Biogen Inc.
• Amgen Inc.
• Johnson & Johnson
• Genentech Inc.
• Regeneron Pharmaceuticals Inc.
• Vertex Pharmaceuticals Incorporated
• Alexion Pharmaceuticals Inc.
• Celgene Corporation
• Gilead Sciences Inc.
• BioMarin Pharmaceutical Inc.
• Incyte Corporation
• Seattle Genetics Inc.
• Alnylam Pharmaceuticals Inc.
• Ionis Pharmaceuticals Inc.
• Moderna Inc.
• Editas Medicine Inc.
• Intellia Therapeutics Inc.
• Sangamo Therapeutics Inc.
• Bluebird Bio Inc.
• Spark Therapeutics Inc.
What Is The Most Dominant Region In The Biotech Ingredient Market?
Europe was the largest region in the biotech ingredient market in 2024. Asia-Pacific is expected to be the fastest-growing region in the biotech ingredients market report during the forecast period. The regions covered in the biotech ingredient market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
