![Global Biotech Ingredients Market](https://res.cloudinary.com/devmoveo/image/upload/v1692017203/skyquest/gallery/Global-Biotech-Ingredients-Market.jpg)
Report ID: SQMIG15E2395
Report ID:
SQMIG15E2395 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
65 |
Figures:
75
Biotech Ingredients Market size was valued at USD 1.84 billion in 2021 and is poised to grow from USD 2.19 billion in 2023 to USD 4 billion by 2030, at a CAGR of 9% during the forecast period (2023-2030).
The global biotech ingredients market has exhibited remarkable growth attributed to increasing demand for sustainable and innovative solutions across various industries, including pharmaceuticals, agriculture, and food production.
With advancements in biotechnology, such as genetic engineering and synthetic biology, the market has witnessed a surge in the development of bio-based ingredients, enzymes, and chemicals that offer enhanced performance and environmental benefits.
Additionally, growing awareness regarding the potential of biotech ingredients to address challenges like resource scarcity and climate change has propelled their adoption. However, regulatory complexities and public perception remain influential factors shaping the market's trajectory.
US Biotech Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG15E2395