Global Market Insights Inc. has announced an addition of a new research based report on farnesene market. The market size is estimated to upsurge at a growing CAGR of 27% by 2023 according to the report.
View a summary of the “Farnesene Market Size, Industry Analysis Report” @ https://www.gminsights.com/industry-analysis/farnesene-market
The professional and high quality report features in-depth market analysis on the global Farnesene industry. It initially provides an outlook of industry with the basic information such as definitions, application, classification, and technology etc. Moreover, it explores global market on the basis of application, products, region and competitive landscape. The report also lists key company profiles, market share, business strategies, financial metrics, forecast and estimations in terms of volume and value, coupled with key aspects that influence the market including impediments, challenges, opportunities and drivers, etc.
Increase in global biofuel production and usage owing to increased usage in automobiles and aviation sector to reduce carbon dioxide emissions is expected to have appositive impact on the market growth during the forecast period. Performance material applications are poised to experience significant growth over 40% CAGR by 2023.
Increasing use of ingredients derived through biotechnological route or from vegetable oil rather than animal sources is likely to drive market growth. Factors like use of alternative bio fuels, alteration in top feedstock harvest that is sugarcane are likely to hinder the market growth.
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Europe farnesene market size, with Germany, UK and France at dominating positions is likely to witness a substantial growth owing to use of sustainable product derived from biomass and implementation of environment measures to limit GHG emissions. Furthermore, the thriving European cosmetic industry is anticipated to impel industry demand. APAC region is projected to register surge in personal care and cosmetic industry with remarkable gains at a CAGR over 28% during the projected timeframe. Furthermore, increase in per-capita disposable expenditure capacity together with existence of several large scale manufacturing companies is anticipated to propel APAC demand in next few years.
Latin America market is forecast to see strong gains during the projected time frame.
Amyris dominate the global farnesene market share. It uses yeast to manufacture through biotechnology route. It has collaborated with Kuraray, Total, IFF to develop target molecule for relative applications including polymers, biojet fuels and fragrances. At present, Chromatin and Intrexon are in emerging stage for reaching commercial production level.
Author Name : Dhananjay Punekar