LONDON--(BUSINESS WIRE)--The global biosurfactants market size is expected to grow by USD 3388.02 thousand during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The continuous increase in industrial waste globally drives the increased production of biosurfactants. This is because industrial waste acts as a source of raw material for the manufacture of biosurfactants; it is identified as a renewable feedstock. Biosurfactants are produced from environment-friendly substrates such as agro-industrial waste products, crop residues, oil processing industry waste, and food processing industry waste. Thus, the high rate of generation of industrial waste is expected to increase the production of biosurfactants during the forecast period.
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As per Technavio, the growing demand for environment-friendly products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Biosurfactants Market: Growing Demand for Environment-Friendly Products
The significant shift of consumers from artificial and synthetic products to bio-based organic products is anticipated to boost the growth of the global biosurfactants market. Biosurfactants are manufactured from agro-waste and food processing industry waste, and their production involves the use of organic materials such as coconut oil, rapeseed oil, palm oil, and soybean oil. Biosurfactants are widely consumed by the pharmaceutical industry and the textile sector; in food processing applications; as a detergent, fabric softener, and oilfield chemical; and in the agricultural sector to enhance the efficiency of soil and destroy weeds and pests. Compared to synthetic surfactants, bio-based surfactants are organic in origin, easily compostable, biodegradable, and environment-friendly. Thus, they are considerably used in varied applications, including cosmetics and personal care products.
“Factors such as the environmental regulations on synthetic surfactants, and the potential use of biosurfactants in cancer treatment will have a significant impact on the growth of the biosurfactants market value during the forecast period,” says a senior analyst at Technavio.
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Biosurfactants Market: Segmentation Analysis
This market research report segments the biosurfactants market by application (detergents, cosmetics, industrial cleaners, food processing, and others) and geography (Europe, North America, APAC, MEA, and South America).
The European region led the biosurfactants market share in 2019, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the European region is expected to register the highest incremental growth due to the growing awareness of the benefits of biosurfactants across several end-user industries.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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