The global biotech ingredient market size is expected to reach USD 2.57 billion by 2025 at an 8.0% CAGR during the forecast period


NEW YORK, March 18, 2019 — Biotech Ingredients Market Size, Share & Trends Analysis Report By Flavor (By Source, By Type, By Application), By Fragrance (Fine Fragrance, Toiletries), By Active Cosmetic Ingredient, And Segment Forecasts, 2018 – 2025

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The global biotech ingredient market size is expected to reach USD 2.57 billion by 2025 at an 8.0% CAGR during the forecast period, according to a new report by Grand View Research, Inc. There has been an increasing shift toward natural and organic products owing to consumer awareness regarding the ill effects of synthetic ingredients. This has forced manufacturers to shift focus from synthetic to natural products.

Both flavors and fragrances can either be naturally derived or synthetically made.Natural ingredients comprise essential oils, oleoresins, and other plant extracts.

These oils are generally extracted using four major techniques: steam distillation, solvent extraction, cold pressing or compression, and carbon dioxide extraction. Synthetic variants consist of aroma chemicals such as esters, alcohols, and phenols obtained through chemical synthesis.

However, availability of raw materials has been limited owing to unpredictable weather conditions during crop season, such as drought and rainfalls.In addition, water scarcity and a shift toward cereal crops or oil-producing plant cultivation by farmers to gain higher profits act as major hurdles to industry growth.

Stringent environment regulations to stop exploitation of land can also be considered as a restraining factor for the market.

Leading players in the flavors and fragrances industry are focusing on developing new and sustainable ways for production of these ingredients, which can be labelled as “natural” and will also meet consumer expectations.As of 2018, the biotech ingredient market for flavors, fragrances, and active ingredients is majorly dominated by few market players such as Givaudan, IFF, Firmenich, Amyris, Symrise, Evolva, and Isobionics.

These companies are involved in producing microbial-based flavors, perfumes, and active ingredients for cosmetics.

Further key findings from the report suggest:

• The global biotech ingredients market is anticipated to reach USD 2.57 billion by 2025, exhibiting an estimated CAGR of 8.0% from 2018 to 2025

• The North America biotech flavors market generated a revenue of over USD 200 million in 2017 and is expected to ascend at a CAGR of 10.2% over the forecast period

• On the basis of source, yeast accounted for over 60.0% of the biotech flavors market in 2017

Europe accounted for over 57.0% of the global biotech fragrance consumption in 2017 and is expected to register an estimated CAGR of 11.3% from 2018 to 2025

• The skincare segment emerged as the largest contributor in the biotech active cosmetic ingredients market and is expected to generate a revenue of close to USD 630.0 million in 2025.

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