WHITE BIOTECHNOLOGY MARKET ANALYSIS

White Biotechnology Market Size and Trends

Global white biotechnology market is estimated to be valued at USD 304.10 Bn in 2024 and is expected to reach USD 601.10 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.

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The market is expected to witness significant growth during the forecast period due to factors like rising focus on development of renewable fuels and chemicals, increasing demand for bio-based products, and growing need for sustainable production processes. Government initiatives promoting sustainable development and use of eco-friendly technologies can drive the market growth. Adoption of innovative and energy-efficient bioprocesses can boost demand for white biotechnology. Continued investments in research and development of new products can offer opportunities for manufacturers in the near future. However, high capital requirement for setting up production facilities and lack of unified regulatory norms can hamper the market growth.

Growing applications of biotechnology in food and agriculture industries

Rising white biotechnology application in food and agriculture industries can drive the market growth. Biotechnology techniques are being utilized to develop high yield crop varieties, improve animal health and productivity, produce biopesticides and biofertilizers, and discover new sources of food. Rising global population puts immense pressure on the agriculture sector to increase crop and livestock yields in a sustainable manner. Traditional agricultural practices alone may not be sufficient to meet the escalating global demand for food. Thus, white biotechnology interventions can play a crucial role by boosting agricultural outputs. Several aggrotech companies leverages the power of industrial bioprocesses, enzymes, microbial solutions and modern breeding technologies to engineer new plant varieties and animal breeds that are resistant to diseases and capable of growing in a wider range of climatic conditions with lesser dependence on chemical inputs. For instance, gene editing tools like CRISPR are being deployed to develop crops that are higher yielding as well as tolerant to drought, flood and salinity. Biotechnological advancements are also enhancing the nutritional quality and shelf life of agricultural produce to reduce post-harvest losses. Biobased pesticides and biofertilizers developed using beneficial microbes are gaining popularity among farmers as sustainable alternatives to chemical pesticides for promoting plant growth and preventing infestations.

Growing demand for renewable resources and environment friendly products

Increasing worldwide focus on sustainability and reducing carbon footprint has boosted demand for renewable and environment-friendly products across industries. More companies and consumers seek options that minimize negative impact on the environment. This shift towards greener alternatives can drive the white biotechnology market growth globally. White biotechnology utilizes micro-organisms and enzymes for industrial applications like manufacturing renewable chemicals, developing alternative fuels, reducing waste, and more. By leveraging nature's solutions, white biotech enable a circular bio-economy. For food and beverage companies, it allows developing sustainable and plant-based packaging, additives, and ingredients. The chemical industry is investing in white biotech to produce industrial enzymes for more efficient and less polluting manufacturing processes. Biofuels developed through white biotech methods offer cleaner and renewable alternatives to fossil fuels for the transportation sector. In 2022, according to the report published by International Renewable Energy Agency, biofuel production had increased by 43% between 2020 and 2023 due to rising demand for sustainable fuels.