In Biotechnology, living systems and organisms are used to develop or modified specific product or processes. The major types of biotechnology are red, green, white, and blue biotechnology.
Red biotechnology involves medical processes, white biotechnology which is also known as grey biotechnology is mainly used in industrial processes, green biotechnology involves agricultural biotech processes and blue biotechnology comprises of marine and aquatic processes.
Few of the biotechnology-based chemicals available in the market are polylactic acid, polyhydroxyalkanoates, and lactic acid.
Biotechnology-based chemicals has wide applications across industrial areas such as agriculture, medicine, food production, healthcare, and crop production. It is also used in other sectors such as chemicals, food and feed, paper and pulp, and detergents and bioenergy.
Today, more than 13.3 million farmers are using biotechnology-based chemicals to increase the crops yield, to protect crops from insects, and to reduce the harmful impact on environment. Pharmaceutical industry is the largest consumer of biotechnology-based chemicals and thus boosts the global biotechnology-based chemical market.
The global biotechnology-based chemical market is segmented on the basis of end users, applications, and geography. End users for biotechnology-based chemical market consist of bio-pharma, agri-biotech, bio-informatics, bio-services.
Further, application market comprises of food and beverages, agriculture, fuel, energy, animal feed, pharmaceuticals and nutrition, paper and pulp, cosmetics and toiletries, and plastics and fibres. Geographically, the market is segmented as North America, Asia-Pacific, Europe, and LAMEA.
Biotechnology-based chemical market is fragmented and few of the key players include Queensland’s world-class agriculture industry, Sarnia-Lambton Research, UK and Norway business funding agencies, the Technology Strategy Board (TSB) and Innovation Norway.
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