Global Biosurfactants Market Report, published by Variant Market Research, forecast that the global market is expected to reach $2,889 Million by 2024 from $2,050 Million in 2016, growing at a CAGR of 4.4% from 2016 to 2024. By geography, Asia-Pacific and RoW are expected to grow at a CAGR of 6.3% and 5.3%, respectively, during the forecast period.
"Biosurfactants Market (Rhamnolipids, Sophorolipids, Methyl Ether Sulfonates, Alkyl Polyglucosides, Sorbitan Esters, Sucrose Esters; Household Detergents, Personal Care, Industrial & Institutional Cleaners, Food Processing, Oilfield Chemicals, Agricultural Chemicals, Textiles; North America, Europe, Asia-Pacific, and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
Some of the drivers propelling the growth of the global biosurfactant market include rising demand for alternative of petroleum based products, increasing consumer awareness, and growing demand for eco-friendly products. Though, lack of cost competitiveness may hinder the development of the market. Additionally, need for minimum quantity of toxicity, and development of innovate products could offer growth opportunities in the forecasted years.
Product type, application and geography are the major segments of the global biosurfactants market. By product type, the market is bifurcated as rhamnolipids, sophorolipids, methyl ether sulfonates (MES), alkyl polyglucosides (APG), sorbitan esters, sucrose esters, and others. Application segment is categorized into household detergents, personal care, industrial & institutional cleaners, food processing, oilfield chemicals, agricultural chemicals, textiles, and others. Among which, household detergents and personal care segment together accounted for more than half of the global market share in 2016.
By geography, the biosurfactants market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Europe is leading globally in terms of production and consumption with market share of 52.9% in 2016, owing to recovering economies and increasing expenditure on consumer goods, followed by North America with market share of 26.3%. In terms of growth, Asia-Pacific will attain fastest CAGR during the forecast period, driven by rising promotion of eco-friendly products, and growth in manufacturing industries.
Major players in the market includes Mitsubishi Chemical Corporation, Urumqi Unite Bio-Technology Company Limited, Jeneil Biotech Inc., Croda International PLC, Saraya Co. Ltd., BASF Cognis, MG Intobio Co., Ltd., AkzoNobel, Cargill, Inc., and Evonik Industries AG, among others.