April 12, 2024
White Biotechnology Market

White Biotechnology Market Primed to Grow at a Robust Pace Owing to Rising Environmental Concerns

The white biotechnology market describes processes that use organisms (such as microorganisms) to develop environmentally friendly and sustainable products. White biotechnology helps reduce carbon footprint and promotes sustainable and eco-friendly practices across various industries such as food and feed, paper and pulp, textiles and agriculture. It plays a key role in producing bio-based chemicals, pharmaceuticals, and biofuels that serve as renewable substitutes for petrochemical derivatives. The Global White Biotechnology Market is estimated to be valued at US$ 359.62 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the white biotechnology 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. Growing environmental concerns and stringent regulations regarding carbon emissions across industries have created lucrative opportunities for biotechnology companies to develop sustainable and renewable solutions. Several countries are also supporting research & development activities in white biotechnology through initiatives and funding to drive innovations. Europe dominates the global white biotechnology market owing to presence of major players and strong government support for green technologies in the region. The market is witnessing rapid expansion in Asia Pacific due to rising industrialization, manufacturing activities, and growing pharmaceutical sector.

Market Drivers

One of the key drivers for the White Biotechnology Market Demand is rising environmental concerns pertaining to carbon emissions and pollution across various industries. There is increasing focus on developing renewable and sustainable alternatives to conventional petrochemical products used widely in industries like chemicals, materials, energy and fuel. White biotechnology offers environment-friendly bio-based solutions to replace fossil fuel dependent methods of production. This is boosting the demand for white biotechnology globally.

PEST Analysis

Political: Governments across various countries are supporting investments into white biotechnology research through subsidies and funding. This is being done to enhance industrial bioprocesses and drive sustainable development.

Economic: Growth of the white biotechnology market is driven by rising economic development worldwide which has increased demand for specialized chemicals, materials, pharmaceuticals and food ingredients produced through industrial biotechnology.

Social: White biotechnology helps to develop environment friendly products using renewable feedstocks and innovative processes. This aligns well with the growing consumer preference for sustainable and eco-friendly goods produced with minimal environmental impact.

Technological: Advancements in synthetic biology, fermentation, biomolecular engineering and systems biology have enabled development of efficient microbial platforms and enzymes for industrial scale production. Combining biotechnology with artificial intelligence and automation is further enhancing process optimization.

Geographical regions with high market concentration
The white biotechnology market in terms of value is highly concentrated in North America and Europe currently. North America alone accounts for over 35% share of the global market supported by strong government funding for research activities in the US and Canada. Presence of major industry players has also boosted market growth. Europe is another major revenue generator with countries like Germany, UK, France and Switzerland taking the lead.

Fastest growing region
Asia Pacific region is poised to emerge as the fastest growing market for white biotechnology during the forecast period. This is attributed to rising investments in research infrastructure by countries such as China, India, Japan and South Korea. In addition, initiatives to establish dedicated biotechnology parks and incentives for private sector participation are supporting the market expansion. Availability of large talent pool and favorable business environment make Asia Pacific an attractive destination for technology transfers and collaborations in industrial biotechnology space.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.