Global Farnesene Market Insights Forecasts to 2030
- The global Farnesene Market was valued at USD 250.00 Million in 2021.
- The Market is growing at a CAGR of 5% from 2022 to 2030
- The global Farnesene Market is expected to reach USD 422.36 Million by 2030
- North America is expected to grow the fastest during the forecast period.
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The global Farnesene Market is expected to reach USD 422.36 Million by 2030, at a CAGR of 5% during the forecast period 2022 to 2030. The growing need for the Farnesene in the cosmetics and personal care sectors is projected to be the main driver of market demand. The overall market expansion will be supported by the increasing consumer interest in natural and organic cosmetics and components. The aroma of a gardenia or the distinctive smell of green apples are produced by combining natural farnesenes that are found in fruit skins or essential oils.
A group of chemical molecules known as farnesene may be found in a wide variety of plants, including the cannabis plant. It functions as a terpene and is in charge of giving many cannabis strains their fruity, toasty, and sweet undertones. Farnesene has soothing and sedative effects in addition to having anti-inflammatory and antibacterial characteristics. Irritable bowel syndrome, Alzheimer's, and multiple sclerosis (MS) may all be treated with farnese (IBS). Over the projected period, the variation in raw material costs caused by unfavourable weather is anticipated to restrain the growth of the farnesene market. Farnesene is produced using sugarcane and important feedstock. Unfavourable weather conditions may have an impact on this production and supply, which might impede market expansion. Additionally, the worldwide price and supply of farnesenes are influenced by the regional raw material availability. For instance, over 60% of the world's ethanol is manufactured from sugarcane, which is mostly grown in Brazil. This is one of the main influencing elements behind the shifting patterns in the price of farnesene on the international market. The Covid-19 epidemic has had a negative impact on the expansion of the farnesene market on all continents. All around the world, the epidemic has harmed people's lives and will likely have a negative impact on global economic development in 2020. Nearly all of the main nations had slower economic development as a result of the COVID-19 epidemic, which had an impact on consumer purchasing habits. A number of problems, including disruptions in the supply chain, a lack of raw materials, a worldwide lockdown, and restrictions, have hampered the expansion of the farnesene market industry in both developed and emerging nations. The report's in-depth analysis of the restraints illustrates how they differ from drivers and leaves potential for tactical strategy. The factors that hinder market expansion are crucial because they may be recognised to create new strategies for seizing the profitable chances that are available in the constantly expanding industry. In order to better comprehend the market, perspectives from industry experts have also been taken into consideration.
Global Farnesene Market Report Coverage
|Market Size in 2021:||USD 250.00 Million|
|Forecast Period 2021-2030 CAGR:||5%|
|2030 Value Projection:||USD 422.36 Million|
|Historical Data for:||2017-2020|
|No. of Pages:||198|
|Tables, Charts & Figures:||79|
|Segments covered:||By Application, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Chromatin, Intrexon, Amyris, Penta Manufacturer, Tate & Lyle, Toronto Research Chemicals, Bedoukian Research, Katyani Exports, Santa Cruz Biotechnology, Triveni Chemicals, KURARAY Co., LTD., International Flavors & Fragrances, Total, Precigen, and Antibiotics de Leon.|
|Pitfalls & Challenges:||Due to the increasing number of COVID-19 cases|
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This research report categorizes the Market for global Farnesene based on various segments and regions, forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Farnesene Market. Recent Market developments and competitive strategies such as expansion, Product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the Market. The report strategically identifies and profiles the key Market players and analyses their core competencies in each global Farnesene Market sub-segments.
- In 2021, the Fuels & Lubes segment accounted for the largest share of the Market, with 35.6% and a Market revenue of 89.00 Million.
Based on the application, the Farnesene Market is categorized into Cosmetics & Personal Care, Performance Material, Flavors & Fragrances and Fuels & Lubes. In 2021, the Fuels & Lubes segment accounted for the largest share of the Market, with 21.6% and a Market revenue of 89.00 Million. Throughout the forecast period, the Fuels & Lubes segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because this is explained by It is projected that the expanding transportation sector would boost demand for alternative fuels and lubricants on the market and help the development of farnesene. Governments have undertaken several steps to reduce CO2 and other greenhouse gas emissions, assisting in the expansion of the farnesene sector, and consumers are strongly pushed to use biofuels.
Regional Segment Analysis of the Farnesene Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe emerged as the largest Market for the global Farnesene Market, with a Market share of around 45.5% and 91.22 Million of the Market revenue in 2021.
- Europe emerged as the largest Market for the global Farnesene Market, with a Market share of around 32.5% and 91.22 Million of the Market revenue in 2021. The demand for Farnesene is being driven by the rising acceptance by the market. The market for Farnesene was dominated by the Europe region Over the projection period, farnesene demand is anticipated to be driven by Europe's expanding cosmetic and personal care market. The demand for farnesene in the region is anticipated to rise as a result of changes in consumer spending patterns and rising disposable incomes in the area.
- North America Market is expected to grow at the fastest CAGR between 2021 and 2030, The demand for Farnesene from the Cosmetics & Personal Care industries is expected to expand over the course of the forecast period, which reflects well for the North American Farnesene market. The product's rising use as a lubricant in a number of industries, including the food, bakery, and textile sectors, will drive industry demand.
The report offers the appropriate analysis of the key organizations/companies involved within the global Farnesene Market along with a comparative evaluation primarily based on their Product offering, business overviews, geographic presence, enterprise strategies, segment Market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including Product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market.
List of Key Market Players:
- Penta Manufacturer
- Tate & Lyle
- Toronto Research Chemicals
- Bedoukian Research
- Katyani Exports
- Santa Cruz Biotechnology
- Triveni Chemicals
- KURARAY Co., LTD.
- International Flavors & Fragrances
- Antibiotics de Leon
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Some of the Key Developments:
- In December 2020, The U.S.-based synthetic biotechnology business Amyris and the corporation DSM Nutritional Products completed a 50-million-dollar strategic arrangement for the supply of farnesene. The partnership between the two businesses will assist DSM in obtaining a licence to undertake distribution of the bio-based substance farnesene. The deal will also satisfy market interest in and demand for chemistry produced cleanly and responsibly.
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Farnesene Market based on the below-mentioned segments:
Global Farnesene Market, By Application
- Personal Care
Global Farnesene Market, Regional Analysis
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of South America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Development of Cosmetic companies
- Rapid growth of personal care companies
- High Cost and Low Awareness of Benefits
- Availability of Raw material
- Negative impact on demand of the product due to Covid 19
- Rising demand from cosmetic industry
- Businesses are focusing on releasing new items to gain market share.
Frequently Asked Questions (FAQ)
What is the market size of the Farnesene market?As per Spherical Insights, the size of the Farnesene market was valued at USD 250.00 million in 2021 to USD 387.83 million by 2030.
What is the market growth rate of the Farnesene market?The Farnesene market is growing at a CAGR of 5% from 2022 to 2030.
Which country dominates the Farnesene market?Europe emerged as the largest market for Farnesene.
Who are the key players in the Farnesene market?Key players in the Farnesene market are Chromatin, Intrexon, Amyris, Penta Manufacturer, Tate & Lyle, Toronto Research Chemicals, Bedoukian Research, Katyani Exports, Santa Cruz Biotechnology, Triveni Chemicals, KURARAY Co., LTD., International Flavors & Fragrances, Total, Precigen, and Antibiotics de Leon.
Which factor drives the growth of the Farnesene market?The rapid growth of personal care companies is expected to drive the market's growth over the forecast period.
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