Global Farnesene Market 2017-2021
Farnesene is a branched chain alkene with fifteen carbon atoms. Farnesene belongs to the family of sesquiterpenes containing three continuous isoprene units. It is found naturally in the skins of green apples and other fruits and is partially responsible for the green apple odor. Farnesene is also found in very low quantities in plants and some insects. The commercial production of farnesene is carried out by fermentation of sugar using specialized yeast bacteria, which can convert sugar into long-chain hydrocarbons like farnesene.
Technavio’s analysts forecast the global farnesene market to grow at a CAGR of 26.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global farnesene market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Farnesene Market 2017-2021
Technavio recognizes the following companies as the key players in the global farnesene market: Amyris, Intrexon, Toronto Research Chemicals, Chromatin, and Penta Manufacturer.
Other Prominent Vendors in the market are: Bedoukian Research, Katyani Exports, Santa Cruz Biotechnology, Triveni Chemicals, and Tate & Lyle.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing use of farnesene in multifunctional cosmetic, surfactants, and emulsifiers. The ongoing trend is about incorporating different functions in a single product. These multifunctional products are usually expensive, however, owing to their diverse functionality they are perceived as cost-effective. Thus, vendors are focusing on these products to cater to the growing demand.”
According to the report, one driver in the market is increasing demand for cosmetics. In the cosmetic industry, the trend of using bio-based resources over synthetic products for various anti-aging cream, lotion, and other cosmetics is taking precedence. The demand for bio-based products is growing at a steady rate year-on-year. This trend is aiding in the high consumption of farnesene in the cosmetics sector, owing to its less toxicity and excellent biodegradable characteristics. The increasing older population and the subsequent demand for anti-aging products such as creams, moisturizers, anti-wrinkle creams, and skin whitening products will drive the global farnesene market during the forecast period.
Further, the report states that one challenge in the market is volatility in the price of flavor and fragrance. Farnesene is extensively used in aromatic raw material and fragrance and flavors. The regulatory constraints applied to aromatic raw material producers and fragrance and flavor manufacturers have significantly increased the production costs. The inflation and the growing demand for raw materials from emerging nations have increased the costs of raw materials. Furthermore, the rise in the energy and transportation costs have affected the production processes of raw materials, ranging from harvest to delivery of the finished lots.
Amyris, Intrexon, Toronto Research Chemicals, Chromatin, Penta Manufacturer, Bedoukian Research, Katyani Exports, Santa Cruz Biotechnology, Triveni Chemicals, and Tate & Lyle.