The growing demand for bio-based products and the growing purchasing power in developing regions are boosting the Biotech Ingredients market.

NEW YORK CITY, NY, UNITED STATES, January 28, 2022 /EINPresswire.com/ -- The latest research study published by Reports and Data titled Biotech Ingredients market provides a thorough assessment of the market. The Global Biotech Ingredients market is forecasted to reach USD 3.03 Billion by 2027, according to a new report by Reports and Data. One of the major driving factors fostering the growth of the market is the constant emphasis of various beauty brands on availing the advantage of using these ingredients in their products. The incorporation of these ingredients in their products helps in the promotion of these products and claiming that the products made from these ingredients are sustainable. The shift in consumer buying patterns is another mentionable factor supporting the growth of the market. The continuously expanding cosmetic and personal care sector and the elevating demand for organic and natural products among consumers is resulting in an increasing emphasis on R&D activities to develop these ingredients. There has been a constant emphasis on advancements of these ingredients and the launch of various new offerings on the market has resulted in an increase in the number of the ingredients presently available for such applications. Furthermore, the COVID-19 pandemic has resulted in increasing demand for cleaning & household, and personal care products, which is also acting as a driving factor for the expansion of the market.

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Market Overview:
Demand for innovative materials is driven by transformations in the energy, automotive, logistics, manufacturing, construction, and other industries, as well as growing industry 4.0 technologies. Sustainability, lightweight, 3D printing, and surface engineering are all hot topics in the materials sector, as are intelligent materials, nano-formulations, and new composites with improved properties. Furthermore, increased adoption of artificial intelligence (AI), machine learning (ML), and data management strategies encourages scientists to investigate and develop novel materials considerably more quickly, reducing time-to-market from decades to only a few years.

Key participants 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.

Further key findings from the report suggest

In regards to Source, the Yeast segment held a significant market share of more than 35.0% in 2019. The yeast is considered as one of the most versatile tools in biotechnology, which has resulted in its extensive use in manufacturing this product contributing to the market share held by this segment.

In the context of Flavor, the Natural flavor segment is projected to occupy more than 40.0% of the market by 2027. The market share occupied by the Natural flavor segment is attributed to increasing demand for sustainable and bio-based products among consumers, which is resulting in the growing popularity of natural flavors.

In context to Application, the Cleaning and household products segment is projected to witness a considerable growth rate of 8.8% during the forecast period. The growth rate witnessed by the Cleaning and household products segment is attributed to increasing awareness regarding health and hygiene, particularly in developing regions, which is resulting in increasing demand for these products contributing to the growing demand for these ingredients for these products.

In November 2019, the company announced that it had applied its breakthrough biotechnology for producing a sustainable version of the company’s tested Ambrofix fragrance ingredient. The biotechnology used by the company includes fermenting sugar that is sustainably sourced to produce the ingredient that the company claims is completely naturally derived, and it is totally renewable carbon.

In 2018, IFF declared that it is planning to combine Frutarom in its functioning. The aim of the initiative was to develop an international leader in scent, taste, and nutrition and to accelerate its Vision 2020 strategy.

In March 2018, Frutarom, with its second acquisition, expanded in Latin America. Pollena Aroma, an Israeli company Turpaz and Polish company, was acquired by Frutarom in 2017, along with nine other acquisitions. Thus, with the help of such an initiative, the company could strengthen its positioning in the Latin American market.

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Research Methodology – Biotech Ingredients Market
The research methodology adopted by analysts to compile the Biotech Ingredients market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Biotech Ingredients market.

During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the Biotech Ingredients market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, and import and export data of major countries of the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Biotech Ingredients market.

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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
Yeast
Bacteria
Filamentous Fungi
Others

Flavor Outlook
Natural flavor
Synthetic flavor

Application Outlook
Foods and Beverages
Cleaning and household products
Personal care and cosmetics
Others

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Regional Outlook
North America
Europe
Asia Pacific
MEA
Latin America

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