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What fueled the previous growth in the biochemical market?

The size of the biochemical market has substantially increased in the past few years. Its projected growth is from $83.52 billion in 2024 to an anticipated $91.7 billion in 2025, displaying a compound annual growth rate (CAGR) of 9.8%. The historical growth can be tied to the increasing demand for environmentally friendly products, government initiatives and policy changes, movement towards bio-based fuels, consumer knowledge and preference, as well as expanded utilizations in a range of industries.

What will be the biochemical market size in the future?

It is anticipated that the biochemical market will witness robust expansion in the coming years, reaching $125.23 billion by 2029 with a CAGR of 8.1%. The expected growth during this forecasted period can be credited to the thriving biopharmaceutical industry, an intensified focus on a circular economy, worldwide initiatives to battle climate change, biorefinery advancements, and the consumers’ demand for eco-friendly products. The forecasted period is also set to see key trends like groundbreaking innovation in bioprocessing, increased funding in research and development, strategic collaborations and partnerships, advancements in biotechnology, and a transition towards precision and synthetic biology.

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What main drivers are fueling expansion in the biochemical market?

The biochemical market’s growth is predicted to be fueled by the rising demand for bio-based products. These products, derived from renewable biological resources like plants, animals, and microbes, use biochemicals in their development for a more eco-friendly alternative to traditional petrochemicals. The U.S. organic food market, for instance, experienced a record-breaking increase in sales in May 2023, reaching $61.7 billion in 2022, a rise of 4.4% from the previous year’s $59.1 billion, as revealed by the Organic Trade Association. Moreover, as stated by European Bioplastics in March 2023, the global production capacity for bioplastics is set to grow, from around 2.2 million metric tons in 2022 to approximately 6.3 million metric tons in 2027. Consequently, the biochemical market is being propelled by this growing demand for bio-based products. The growth of the biochemicals market is also predicted to be driven by the escalating demand for clean and renewable fuel sources. These energy resources, often dubbed green fuels or renewable energy sources, are derived from naturally sustainable processes and are eco-friendly. These clean, renewable energy sources use biochemicals to turn organic materials like biomass and algae into biofuels and biogases, reducing greenhouse gas emissions and fossil fuel dependence. In December 2022, the International Energy Agency projected that the global demand for biofuels would rise by 6%, or 9,100 million liters per annum, between 2021 and 2022. Therefore, the escalating demand for clean, renewable energy sources is framing the growth of the biochemical market.

What key areas define the segmentation of the global biochemical market?

The biochemical market covered in this report is segmented –

1) By Type: Biodiesel, Amino Acids, Fine Chemicals, Phytochemicals, Antibiotics, Dyes And Stains

2 By Application: Fuel, Power Generation, Other Applications

3) By End-User: Pharmaceuticals, Dairy, Automotive, Agriculture, Textile, Food Processing

Subsegments:

1) By Biodiesel: Vegetable Oil-Based Biodiesel, Animal Fat-Based Biodiesel, Algae-based Biodiesel

2) By Amino Acids: Essential Amino Acids, Non-essential Amino Acids, Conditioned Amino Acids

3) By Fine Chemicals: Specialty Chemicals, Pharmaceutical Intermediates, Agrochemicals, Phytochemicals

4) By Phytochemicals: Flavonoids, Alkaloids, Terpenoids, Phenolics

5) By Antibiotics: Penicillin, Tetracycline, Cephalosporins, Macrolides

6) By Dyes And Stains: Synthetic Dyes, Natural Dyes, Fluorescent Dyes, Biochemical Stains

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Who are the dominant players expanding their reach in the biochemical market?

Major companies operating in the biochemical market report are Cargill Inc., Archer Daniels Midland Company, Pfizer Inc., Johnson & Johnson, BASF SE, F. Hoffmann-La Roche AG, Merck & Co. Inc., Dow Chemical Company, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., AstraZeneca PLC, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Evonik Industries AG, Solvay S.A., DuPont de Nemours Inc., Ajinomoto Co. Inc., Biogen Inc., Vertex Pharmaceuticals, Agilent Technologies, Illumina, Renewable Energy Group Inc., Bio-Rad Laboratories, Hansen A/S, Naturex SA, Arboris LLC, AMINO GmbH, LIPO Foods

How are evolving market trends shaping biochemical Strategies?

Trend 1.

Text: The biochemical market is seeing a shift as major corporations are increasingly focusing on the development and launch of products like biobased precursors to maintain a competitive position. Biobased precursors, derived from renewable biological sources such as plants or microorganisms, serve as raw materials in the production of bio-based items. A case in point is the Thailand-based biochemical firm, Advanced Biochemical, which rolled out a new brand, Epinity, in July 2022. Notably, Epinity is a bio-based, drop-in, cost-competitive epichlorohydrin (ECH) used across various downstream industries. Used as a starting point for epoxy resins, Epinity finds applications in marine coatings, auto refinishing, metal coatings, and industrial adhesives. The introduction of Epinity is a significant milestone in the biochemical sector as it offers a green alternative to traditional ECH and other chemical compounds.

Enhancing Product Performance And Sustainability In The Biochemical Market

Leading players in the biochemical space are stepping up their efforts to introduce innovative green products like biobased sustainable additives to preserve their market competitiveness. Such additives are organic or renewable compounds harvested from plant-based or other organic sources, employed to improve the property, performance, or ecological sustainability of various goods or processes. A notable instance is BYK, an Altana AG subsidiary, which unveiled a new series of bio-based, eco-friendly additives named CERAFLOUR in March 2023. These additives are crafted specifically to impart a natural look and silky, matte surfaces to the coatings applied to wood, furniture, coil, and architectural coatings.

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Which regions are emerging as leaders in the biochemical market?

Asia-Pacific was the largest region in the biochemical market in 2024. The regions covered in the biochemical market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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