USD 46 billion
Farnesene Market Size, Share, Growth Analysis, By Type (Isoprene-based Farnesene, Farnesene from Plant Waste), By Grade (Technical Grade, Pharmaceutical Grade), By Distribution Channel, By Application, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2272 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
59
|Figures:
75
Farnesene Market Insights
Farnesene Market size was valued at USD 0 Billion in 2023 and is poised to grow from USD 0 Billion in 2024 to USD 0 Billion by 2032, growing at a CAGR of 4.6% during the forecast period (2025-2032).
The global farnesene market has seen significant growth in recent years and is expected to continue growing in the coming years. One of the key drivers for the growth of the market is the increasing demand for sustainable and eco-friendly alternatives to petroleum-based products. Farnesene offers a renewable and bio-based solution that can replace petroleum-derived ingredients in various applications. The growing awareness of environmental concerns and the need to reduce carbon emissions have led to a surge in demand for farnesene as a greener alternative. In addition, the demand for fragrances in the personal care and cosmetics industry has been growing rapidly. Farnesene is used as a fragrance ingredient and emollient in cosmetics, skincare, and hair care products. The consumer preference for sustainable and bio-based ingredients. Though, the farnesene market also faces certain challenges such as the cost of production. Currently, the production of farnesene involves complex fermentation processes, which might be expensive. The high production cost limits the wider adoption of farnesene and poses a challenge for producers to offer reasonable pricing. While there have been advancements in fermentation technologies and the development of new production facilities, scaling up the production of farnesene to meet the growing demand can be a composite process.
US Farnesene Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Biological
Fastest Growth
Biological
Growth Rate
4.6% CAGR
Global Farnesene Market ($ Bn)
Country Share for North America Region (%)
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Farnesene Market Segmental Analysis
Global Farnesene Market is segmented by Type, Grade, Distribution Channel, Application, and Region. Based on Type, the market is segmented into Isoprene-based Farnesene, Farnesene from Plant Waste, Farnesene from Lignocellulosic Biomass. Based on Grade, the market is segmented into Technical Grade, Pharmaceutical Grade, Food Grade, Cosmetic Grade. Based on Distribution Channel, the market is segmented into Direct Sales, Distributors, Online Marketplaces. Based on Application, the market is segmented into Biofuel Production, Rubber Production, Pharmaceuticals, Personal Care Products, Chemicals and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Farnesene Market Analysis By Type
The Beta Farnesene holds a dominant position and largest share in the farnesene market. It is a mostly used type of farnesene and finds applications in various industries. Beta Farnesene is primarily utilized in the production of flavors and fragrances, where it adds unique aromatic profiles to products. Because of its pleasant scent and adaptability, it is a favorite option among fragrance and flavor manufacturers.
One the other hands, the fastest-growing segment is Alpha Farnesene which is witnessing significant growth in the farnesene market. Alpha Farnesene has gained attention for its potential applications in the polymers industry. It is utilized as a building block for the manufacture of bio-based and sustainable polymers, such as polyethylene and polypropylene. The demand for bio-based polymers is increasing due to environmental concerns and the need to reduce dependence on fossil fuels. Alpha Farnesene offers a renewable and environmentally friendly option for the manufacturing of polymers, fueling its rapid market growth.
Farnesene Market Analysis By Technology
The global farnesene market is categorized by technology into biological and chemical methods of production. The biological technology holds a dominant position in the farnesene market. It involves the use of microorganisms, such as yeast or bacteria, to ferment plant sugars and produce farnesene through a biological process. This method offers several advantages, including the utilization of renewable feedstocks, reduced environmental impact, and the production of high-quality farnesene. Biological technology has been widely adopted by key players in the industry, making it the dominant technology in the farnesene market.
On the other hand, the fastest-growing segment, the chemical technology of farnesene production, is witnessing significant growth. Chemical methods involve the combination of farnesenes through chemical reactions using petroleum-based feedstocks. This technology has gained attention due to its potential for large-scale production and the ability to produce farnesene at lower costs. The chemical technology is rapidly evolving with advancements in catalysts and process optimization, making it an attractive option for industrial-scale farnesene production.
Global Farnesene Market By Technology
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Farnesene Market Regional Insights
North America is the dominating region in the global farnesene market. The North America region has a well-established industry with prominent key players in the farnesene sector. The United States has witnessed significant growth in the market due to the presence of major manufacturers and increasing investments in biological products. Various industries related to flavors, fragrances, polymers and cosmetics are driving the market in North America.
The fastest growing region in the global farnesene market is Asia Pacific region. The region is experiencing rapid urbanization and industrialization, which leads the increasing demand for sustainable and bio-based products. Countries such as China, India, Japan and South Korea are observing substantial growth in several sectors that utilize farnesene as cosmetics, personal care and polymers. Moreover, the rising awareness about environmental concerns and the global shift towards greener and cleaner alternatives that are driving the growth of the farnesene market in Asia Pacific.
Global Farnesene Market By Region
- Largest
- Fastest
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Farnesene Market Dynamics
Farnesene Market Drivers
Favorable Regulations and Policies
- Supportive regulations and policies aimed at promoting the use of bio-based products and reducing carbon emissions are driving the demand for farnesene. Government initiatives, incentives, and mandates encourage the adoption of renewable resources, creating a favorable market environment for farnesene.
Growing End-use Industries
- Farnesene finds applications in various industries, including cosmetics, fragrances, flavors, and polymers. The growth of these industries, fueled by factors such as increasing consumer demand, urbanization, and industrial development, directly contributes to the demand for farnesene.
Farnesene Market Restraints
Technological Challenges
- The production of farnesene through biological or chemical methods requires advanced technologies and expertise. Technological challenges related to scalability, efficiency, and yield optimization can hinder market growth. Continued research and development efforts are necessary to overcome these challenges and improve the production processes.
Limited Awareness and Infrastructure
- While the demand for farnesene is growing, limited awareness about its benefits and availability in certain regions can restrict market growth. Additionally, the lack of adequate infrastructure, particularly in emerging economies, may pose challenges for the widespread adoption of farnesene-based products.
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Farnesene Market Competitive Landscape
The global farnesene market is characterized by a competitive landscape with several players vying for market share. The market is witnessing the entry of new players as well as the presence of established companies, fostering intense competition. The key players in the farnesene market are engaged in strategic initiatives such as collaborations, partnerships, mergers, and acquisitions to strengthen their market position and expand their product portfolios. These companies are investing in research and development activities to improve the production processes and enhance the quality of farnesene. Additionally, players are focusing on sustainable and eco-friendly practices, aligning their business strategies with the growing demand for bio-based alternatives. The competitive landscape of the farnesene market is expected to witness further developments as companies strive to innovate and differentiate their products to cater to diverse industry requirements and gain a competitive edge.
Farnesene Market Top Player’s Company Profiles
- Braskem S.A.
- Chevron Phillips Chemical Company
- LyondellBasell Industries Holdings B.V.
- Eni S.p.A.
- Repsol S.A.
- SIBUR Holding PJSC
- Qatar Energy
- BASF SE
- Exxon Mobil Corporation
- SABIC
- Amyris Inc.
- Precigen Inc.
- Tate and Lyle Plc
- Santa Cruz Biotechnology Inc.
- ADL Biopharma
- Toronto Research Chemicals Inc.
- Triveni chemicals
- Antai Fine Chemical
- Glentham Life Sciences
- U.S. Biological Life Sciences
Farnesene Market Recent Developments
- In January 2022, Emery Oleochemicals announced the expansion of its farnesene production capacity in the United States. The expansion is expected to increase the company's farnesene production capacity by 50%.
- In February 2023, BASF announced the launch of its new farnesene production plant in China. The plant is expected to produce 10,000 metric tons of farnesene per year, making it one of the largest farnesene production facilities in the world.
Farnesene Key Market Trends
- Diversification of End-use Industries: Farnesene is finding applications in a wide range of industries beyond its traditional uses in flavors, fragrances, and polymers. It is being explored in sectors such as cosmetics, lubricants, and specialty chemicals. This diversification of end-use industries is expanding the market potential for farnesene and creating new growth opportunities.
- Collaborations and Partnerships: Key players in the farnesene market are increasingly forming collaborations and partnerships to leverage their respective expertise and resources. These partnerships aim to enhance research and development capabilities, expand production capacities, and facilitate the commercialization of farnesene-based products.
Farnesene Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global farnesene market analysis, the market is experiencing significant growth driven by the increasing demand for sustainable and bio-based products across various industries. Farnesene, being a renewable and eco-friendly hydrocarbon, is gaining traction as a greener alternative to petroleum-based products. The market is characterized by technological advancements, particularly in production processes, which have improved efficiency and reduced costs. Diversification of end-use industries, collaborations, and partnerships among key players are fostering innovation and expanding market opportunities. Sustainability throughout the supply chain is a key focus, with companies emphasizing responsible sourcing and environmentally-friendly practices. Moreover, emerging economies, particularly in Asia Pacific and Latin America, present promising market prospects due to rapid industrialization and growing consumer awareness. Overall, the global market is poised for continued growth, driven by the increasing demand for sustainable solutions and the industry's commitment to innovation and environmental responsibility.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 46 billion |
| Market size value in 2031 | USD 68.95 billion |
| Growth Rate | 4.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Farnesene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Farnesene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Farnesene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Farnesene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Farnesene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Farnesene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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