The biochemical global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Biochemical Market, 2024 report by The Business Research Company offers
comprehensive insights into the current state of the market and highlights
future growth opportunities.
Market Size -
The biochemical market size has grown rapidly in recent years. It will grow
from $75.86 billion in 2023 to $83.52 billion in 2024 at a compound annual
growth rate (CAGR) of 10.1%. The growth in the historic period can be
attributed to rising demand for sustainable products, government initiatives
and regulations, shift towards bio-based fuels, consumer awareness and
preference, expanding applications in various industries.
The biochemical market size is expected to see strong growth in the next few
years. It will grow to $116.07 billion in 2028 at a compound annual growth rate
(CAGR) of 8.6%. The growth in the forecast period can be attributed to growing
biopharmaceutical sector, increasing focus on circular economy, global efforts
to combat climate change, biorefinery developments, consumer demand for green
products. Major trends in the forecast period include technological innovation
in bioprocessing, investments in research and development, collaborations and
partnerships, biotechnological advancements, shift towards precision and
synthetic biology.
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Scope Of Biochemical Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Biochemical Market Overview
Market Drivers -
Increasing demand for bio-based products is expected to propel the growth of
the biochemical market going forward. Bio-based products refer to materials
that are derived from renewable biological resources, such as plants, animals,
and microorganisms. Biochemicals are used in developing bio-based products by
providing sustainable alternatives to traditional petrochemicals and reducing
environmental impact. For instance, in May 2023, according to a report
published by the Organic Trade Association, a US-based non-profit business
association, the U.S. organic food market witnessed an unprecedented surge in
sales, reaching a new record of $61.7 billion in 2022, an increase of 4.4%
compared to $59.1 billion in 2021. Furthermore, in March 2023, according to
European Bioplastics, a Germany-based association representing the interests of
the bioplastics industry in Europe, global bioplastics production capacity is
expected to increase from around 2.2 million metric tons in 2022 to
approximately 6.3 million metric tons in 2027. Therefore, increasing demand for
bio-based products is driving the growth of the biochemical market.
Market Trends -
Major companies operating in the biochemical market are intensifying their
efforts towards introducing novel sustainable products such as biobased
sustainable additives to gain a competitive edge in the market. Biobased
sustainable additives are natural or renewable chemical compounds and
substances derived from plant-based, agricultural, or other organic sources
that are used to enhance the properties, performance, or environmental
sustainability of various products, materials, or processes. For instance, in
March 2023, BYK, a subsidiary of Altana AG, a Germany-based chemicals company,
launched a new line of bio-based, sustainable additives called CERAFLOUR. These
additives are designed to provide a natural look and silky and matte surfaces
to coatings used in wood and furniture, coil, and architectural coatings.
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
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Regional Insights -
Asia-Pacific was the largest region in the biochemical market in 2023. The
regions covered in the biochemical market report are Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies -
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
Table of Contents
1. Executive Summary
2. Biochemical Market Report Structure
3. Biochemical Market Trends And Strategies
4. Biochemical Market – Macro Economic Scenario
5. Biochemical Market Size And Growth
…..
27. Biochemical Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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