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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.