Farnesene Market: Overview
An upcoming report by Transparency Market Research covers in-depth information about the global farnesene market, with numerous developments occurring in different sectors where it is used. Farnesene chemicals consist of six individual compounds that find innumerable applications in cosmetics, performance materials, and flavors, among several others. Expert market analysts look at an increase in production of farnesene chemicals in the near future. This is expected to provide a strong impetus to the global farnesene market growth during the said forecast period.
Farnesene Market: Notable Developments
The market majorly showcases a substantially consolidated and concentrated vendor landscape with the presence of few players. However, the competition is likely to highly intensify with increasing demand of farnesene through different applications.
In current times, two companies – ADL Biopharma and Amyris Brasil, majorly dominate the vendor landscape.
- A recent development occurred in 2018 when Amyris Brasil was offered contract manufacturing by ADL Biopharma. This development is expected to expand the market’s outreach across the globe substantially. Amyris could also maintain effective cooperation with prominent manufacturers in across the globe.
- In 2017, Blue Corporation made an agreement with Amyris to product farnasene in China. This development pushed immense scope for the farnesene market for expanding its geographical reach, particularly in the Asia Pacific region. However, as of 2019, more development still needs to happen in the region for the market to proliferate.
Some of the most prominent companies operating in the global farnesene market are Amyris, Total, Kuraray, and IFF, among many others
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Farnesene Market: Key Drivers and Trends
With rising demand for alternative fuels to power different means of transportation, the farnesene market is growing steadily. This is mainly due to the fact that the chemical group forms an important component of biofuels and other varieties. Moreover, increasing initiatives by governments to reduce CO2 and other greenhouse gas emissions, consumers are highly encouraged to opt for biofuels, thereby contributing towards the market’s growth. Several tests have concluded that by using farnesene derived fuels, the emission levels can be considerably reduced.
In addition to the fuel sector, the cosmetics industry also makes use of farnesene varieties, majorly squalene. This type of farnesene is primarily utilized in moisturizing creams, anti-aging creams, and various other cosmetic products. Moreover, with an increasing awareness regarding maintenance of personal appearance and well-being, the demand for such cosmetics is foretold to hit the roof in future. This could usher in massive production and use of farnesene in the cosmetic industry. The European region is expected to showcase maximum growth in personal care industry, thus being beneficial to the market in this region.
Lastly, with mushrooming urbanization, the demand for innovative food products has risen at a splendid scale. And as farnesene is primarily used in fragrances and flavoring agents, the farnesene market is prognosticated to showcase healthy turnover.
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Farnesene Market: Regional Analysis
From an overall perspective, the global farnesene market is spread across North America, South America, Asia Pacific, Middle East & Africa, and Europe. Of these, Europe holds the foremost position with major emphasis of the chemical usage lying in the personal care industry. A high standard of living in countries from Europe could be a key factor to the growth of the industry in the region.
Following Europe, an upcoming growth is expected to be witnessed by the Latin American region. This is mainly due to the fact that optimal climatic conditions exist in several countries from the region. Such conditions enable extensive production of crops, which are further utilized in the production of farnesene, thereby stoking the market on a large scale basis.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.