Biotech Ingredients Market Trends, Drivers And Restraints By 2027
Biotech Ingredients Industry Overview The global biotech ingredients market size is expected to reach USD 3.01 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.3% from 2020 to 2027. Growing consumer inclination towards natural and organic products is expected to drive the demand for biotech ingredients over the forecast period. Biotech Ingredients Market Segmentation Grand View Research has segmented the global biotech ingredients market on the basis of flavors, fragrances, active cosmetic ingredients, and region: Based on the Flavors Insights, the market is segmented into Source, Product, and Carbonyls In terms of revenue, biotech flavor ingredients accounted for a share of 38.44% in 2019. Flavors can be classified as natural flavors and artificial flavors. Natural flavors are usually sourced from edible essential oils, oleoresins , essence or extract from fruits/fruit juices, spices, vegetables/v...