The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s biotech ingredient market report forecasts the biotech ingredient market size to grow to $71.01 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.

Learn More On The Biotech Ingredient Market Report 2023 – https://www.thebusinessresearchcompany.com/report/biotech-ingredient-global-market-report

Biotech Ingredient Market Size Forecast
The global biotech ingredient market is expected to grow from $53.09 billion in 2022 to $56.76 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global biotech ingredients market size is expected to reach $71.01 billion in 2027 at a CAGR of 5.8%.

Europe held the largest biotech ingredient market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Biotech Ingredient Market Driver ­– Rise In Demand For Generic Medicines
According to the Association for Accessible Medicines (AAM), a US-based association of generic medicine manufacturers and distributors, and the Biosimilars Council, a part of the AAM association, patients in the United States received 6.4 billion prescriptions in 2021, with an increase of 91% of them being generic or biosimilar medications, in September 2022. Patients, customers, companies, and taxpayers saved $373 billion by utilising these lower-cost medications, which account for 3% of total health-care spending. As a result, increased demand for generic medicines is propelling the biotech ingredient market forward.

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Key Biotech Ingredient Market Trend – Technological Advancement
Major biotech ingredient firms are bringing new technology to generate innovative goods in order to increase their market position. International Flavours & Fragrances Inc., a US-based provider of fragrance, biotech solutions, cosmetic energetics, and organic health components, for example, announced Aurist AGC, a revolutionary biopolymer for hair care, in March 2023. This demonstrates the promise of the new DEB platform by utilising IFF’s entire biotechnology functionality to provide long-term and high-performance glamour solutions that can actually contribute to change in the cosmeceutical market. The ingredient employs IFF’s unique Designed Enzymatic Biopolymers (DEB) technology, which is a cutting-edge biotechnology capable of creating novel biobased polysaccharides with different structures and product characteristics.

Biotech Ingredient Market Segment
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

Biotech Ingredient Market Major Players and Strategies
Major players in the biotech ingredient market are 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 Inc., Sollice Biotech, Novocap S.A., Eli Lilly and Company, Bristol-Myers Squibb Company, and GlaxoSmithKline plc.

Kerry Group plc, an Ireland-based taste and nutrition company, paid $226 million for c-LEcta in February 2022. Kerry hopes to strengthen its innovative activities in enzyme engineering, fermentation, and biotechnological development with this acquisition. Kerry also intends to invest in the creation of cutting-edge sustainable technologies that will drive the development of future sustainable food and health systems. c-LEcta is a biotechnology innovation firm based in Germany that specialises in high-value targeted biomolecules and ingredients through extremely accurate fermentation, optimised bio-processing, and bio-transformation.

The Biotech Ingredient Global Market Report 2023 covers regional data on biotech ingredient market size, biotech ingredient market trends and drivers, opportunities, strategies, and biotech ingredient market competitor analysis. The countries covered in the biotech ingredient market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Biotech ingredients are chemical components created by microbes, most commonly yeast, yeast-like organisms, or algae, whose DNA has been modified so that their metabolism produces a commercially viable molecule. These ingredients are safer for customers and are frequently less expensive.

View More Reports Related To The Biotech Ingredient Market –
Biotechnology Services Global Market Report 2023
Biotechnology Reagents Market Report 2023
Ingredients Global Market Report 2023

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