The global biosurfactants market size is projected to hit USD 5.71 billion by 2028 and exhibit a CAGR of 5.4% during the forecast period. Biosurfactants are bio-based surface-active agents derived from renewable and natural feedstock. The product is widely utilized by the industrial, cosmetic, food, and chemical industry. The increasing demand for hygiene products and cleaning chemicals by various end-use sectors is anticipated to drive market growth. Fortune Business InsightsTM has presented this information in the report titled, “Biosurfactants Market, 2021-2028”. The market size stood at USD 3.66 billion in 2020 and is estimated to reach USD 3.96 billion by 2021.
The product offers various benefits such as biodegradability, functioning under extreme environmental circumstances, and synthesis on renewable substrates. These attributes surge the product demand across various industrial applications, notable those relating to tertiary crude-oil recovery. The increasing industrial applications of bio-based surfactants are expected to stimulate market growth in the coming years.
Segmentation:
On the basis of type, the market fragments into polymeric, phospholipids, lipopeptides, glycolipids, and others. On the basis of application, the market segments into agrochemicals, personal care, oil & petroleum, food processing, industrial & institutional cleaners, household cleaners, and others. Geographically, the market is classified into five major regions- North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Drivers & Restraints-
Increasing Environmental Concerns to Stimulate Market Growth
Biosurfactants play a crucial role in decreasing carbon dioxide emissions. Their superior surface activity in terms of efficiency and efficacy outperforms conventional surfactants. Additionally, conventional surfactants pose a high environmental impact. The environmental concerns have increased in recent years and have boosted the research on the development of new bio-based surfactants. Hence, the high efficiency and efficacy of the product, coupled with new biosurfactant launches, are anticipated to stimulate the global biosurfactants market growth.
The product demand relating to tertiary crude-oil recovery has increased in recent years as the product enhances hydrocarbon mobilization, allowing for greater crude oil recovery from reservoirs. The advancement in petroleum biotechnology due to the escalating need for sustainable technologies that enhance the efficiency of the petrochemical process in the oil and gas industry is anticipated to complement the market's growth.
Additionally, the product offers various beneficial attributes such as biodegradability, functioning under extreme environmental circumstances, and synthesis on renewable substrates. The increasing industrial applications of the product are expected to stimulate market growth in the coming years.
However, the production of the product is expensive and requires a technological push to develop. This is likely to hamper the growth of the market.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
Regional Insights-
Europe to Hold the Lion’s Share due to Extensive Deployment of Industrial Biotechnology
Europe is anticipated to hold the largest portion of the global biosurfactants market share. The growth is attributable to the extensive deployment of industrial biotechnology and increasing government regulations regarding the use of chemicals that may produce harmful byproducts or release toxins in the environment on biodegradation. Additionally, increasing awareness of manufacturers regarding the adoption of green alternatives for surfactants to reduce carbon footprints is expected to foster market growth.
North America is projected to witness significant growth in the global market due to the increasing consumer concerns regarding the devastating impact of toxins released from chemical surfactants on degradation. Moreover, the rising consumer expenditure on hygiene and health is expected to boost the market's growth.
Asia Pacific is expected to exhibit considerable growth due to the rising demand for the product in the food processing industry. Additionally, the high raw material availability in the region is anticipated to fuel the market growth.
Latin America and the Middle East & Africa are anticipated to witness moderate growth due to the growing number of household detergents and personal care products manufacturing companies.
Competitive Landscape-
Key Players Partner to Launch New Products & Accumulate Growth in the Market
The key players in the market are focused on improving their product processing and manufacturing techniques through extensive research and development activities. The key players focus on various ingenious growth strategies such as partnerships, mergers, acquisitions, collaborations, new product launches, technological developments, and others to generate greater revenues and enhance their market presence. For instance, in December 2019, Evonik partnered with Unilever to launch a new green cleaning ingredient called rhamnolipids.
Browse Summary of This Research Report:
https://www.fortunebusinessinsights.com/biosurfactants-market-102761
