Biotechnology Based Chemicals Market Will Generate Massive Revenue In Future
Biotechnology based chemicals are manufactured by applying several techniques such as fermentation. Biotechnology based chemicals contain lactic acid, citric acid, polyhydroxyalkanoates, lysine, glutamic acid, and threonine. Biotechnology-based chemicals are used in various industries such as pharmaceuticals, food, animal feed, and consumer goods among others. Currently, more than 13.3 million farmers are exploiting biotechnology-based chemicals to enhance crop yield, protect crops from insects, and decrease the harmful impact on the environment.
The pharmaceutical industry is the major end-user industry that highly consumes biotechnology based chemicals. The rising demand for natural medicines, when compared to synthetic chemicals, is anticipated to amplify the overall demand for biotechnology-based chemicals. Also, rising awareness of the various side effects associated with chemical drugs is projected to augment the biotechnology-based chemicals market. The animal feed industry is another major consumer of biotechnology-based chemicals. The escalating demand for lysine in animal feed is considered to boost the demand for biotechnology chemicals.
MARKET SEGMENTATION
The global biotechnology-based chemicals market is segmented on the basis of application and end-users. On the basis of end-users, the market is segmented into bio-pharma, agri-biotech, bio-informatics, and others. On the basis of application, the market is segmented into food and beverages, agriculture, fuel, energy, animal feed, pharmaceuticals and nutrition, and others.
MARKET PLAYERS
- ADM
- AGAE Technologies, LLC
- BASF SE
- BioAmber Inc.
- Cargill, Incorporated
- DSM
- Futerro SA
- GFBiochemicals Ltd
- Toray Industries Inc
- Vertec BioSolvents