Bio Feedstocks Market Research Report 2023

Global Bio Feedstock Market Synopsis

The Global Bio Feedstocks Market size was reasonably estimated to be approximately USD 6000 Million in 2023 and is poised to generate revenue over USD 25848 Million by the end of 2030, projecting a CAGR of around 23.20% from 2023 to 2030.

Bio-based feedstock refers to any material derived from a biological source that is utilized to produce energy or other goods. It encompasses a wide range of organic materials, such as crops, agricultural residues, forestry by-products, algae, and organic waste. These feedstocks are renewable resources as they originate from living organisms and can be replenished through natural processes.

• Bio-based feedstocks serve as a sustainable alternative to fossil fuels and non-renewable resources in various industries, including bioenergy, biofuels, biochemicals, and bioplastics. By utilizing bio-based feedstocks, we can reduce dependence on finite resources, mitigate greenhouse gas emissions, and promote a more environmentally friendly and circular economy.
• Bio-based feedstocks, such as plant-based oils, animal fats, and algae, can be processed into biofuels like biodiesel, renewable diesel, and bioethanol. These fuels are used as alternatives to fossil fuels in transportation, reducing carbon emissions and dependence on finite petroleum resources.
• Bio-based feedstocks can be converted into a variety of chemicals and materials. For example, biomass can be processed into bio-based plastics, biocomposites, and biodegradable packaging materials. Plant oils and sugars can be used as starting materials for the production of bio-based chemicals like bio-based solvents, lubricants, and polymers.

Top Key Players Involved Are:

"Beta Renewables (Italy), DowDuPont (US), Enerkem (Canada), Fiberight (US), GranBio (Brazil), VIRENT (US), Clariant (Switzerland), Abengoa (Spain), BASF (Germany), INEOS Bio (Switzerland), DSM (Netherlands), Cargill (US), Novozymes (Denmark), DSM (Netherlands), Roquette (France), Total Corbion PLA (Netherlands), Braskem (Brazil), Amyris (US) and Other Major Players".

The Global Bio Feedstock Market Trend Analysis

Industrial Applications and Market Demand

• Industrial applications and market demand are significant drivers of the bio-based feedstock market. The demand for biofuels, driven by environmental regulations and the need to reduce greenhouse gas emissions, fuels the use of bio-based feedstocks in the transportation sector.
• Similarly, the growing awareness of plastic waste and the demand for sustainable packaging solutions drive the market demand for bio-based feedstocks in the production of bioplastics and packaging materials. The market demand for sustainable and renewable chemicals, driven by consumer preferences and regulatory requirements, contributes to the use of bio-based feedstocks in the production of bio-based chemicals.
• Additionally, the personal care and cosmetics industry incorporates bio-based ingredients to meet the market demand for natural and sustainable products. Additionally, the demand for sustainable animal feed and nutrition drives the utilization of bio-based feedstocks in the agricultural sector.
• In Conclusion, the market demand for these industrial applications propels the growth and development of the bio-based feedstock market, encouraging investments in research, development, and production capabilities in the bio-based feedstock industry.

Agricultural and Rural Development

• Bio-based feedstock market is the potential for agricultural and rural development. The production of bio-based feedstocks often relies on agricultural activities, creating opportunities for farmers and rural communities.
• Cultivating bio-based feedstock crops or utilizing agricultural residues as feedstocks can generate additional income for farmers and landowners. This diversification of agricultural activities can help mitigate risks associated with traditional crop production and provide alternative revenue streams.
• Additionally, the collection and processing of agricultural residues, such as crop residues and byproducts, for bio-based feedstock production can create employment opportunities in rural areas. The establishment of biomass collection centers or processing facilities can generate jobs and stimulate economic growth, contributing to the overall development of rural communities.
• In Conclusion, the bio-based feedstock market presents an opportunity for agricultural and rural development by diversifying income sources, promoting sustainable agricultural practices, creating employment opportunities, and stimulating economic growth in rural communities.

Segmentation Analysis of the Global Bio Feedstock Market

Global Bio Feedstock Market Cover Type, and Application. By Type, the Starch segment is Anticipated to Dominate the Market Over the Forecast period.

• Starch holds a dominant position in the bio-based feedstock market due to several key factors. Firstly, starch is abundantly available as it is derived from common crops like corn, wheat, and cassava, which are grown in large quantities globally. This widespread availability makes starch a reliable and easily accessible feedstock for bio-based applications.
• Starch is highly versatile and can be processed into various forms such as native starch, modified starch, and starch derivatives. This versatility allows for a wide range of applications across different industries, including food, packaging, textiles, and pharmaceuticals. Starch can be converted into bio-based plastics, biodegradable materials, adhesives, thickeners, and more, making it a valuable feedstock for multiple market segments.
• The market demand for sustainable and renewable products has also played a significant role in the dominance of starch as a bio-based feedstock. Starch-based bioplastics, for instance, are increasingly preferred as an eco-friendly alternative to conventional plastics due to their biodegradability and reduced environmental impact. Consumer preferences and regulatory measures promoting the use of renewable feedstocks have further driven the growth of starch-based bio-based applications.

Regional Analysis of the Global Bio Feedstock Market

North America is Expected to Dominate the Market over the Forecast Period.

• North America is known for its vast agricultural resources, including large-scale crop cultivation and diverse agricultural practices. The region produces substantial amounts of bio-based feedstocks such as corn, soybeans, sugarcane, and wheat, which serve as raw materials for biofuels, bioplastics, and other bio-based products.
• North America has witnessed significant advancements in bio-based feedstock technologies, including conversion processes, biochemical engineering, and biotechnology. These advancements have facilitated the efficient utilization of feedstocks and the development of innovative bio-based products. North American companies and research institutions have been at the forefront of research and development in this field.
• The region's strong market demand for bio-based products, driven by environmental awareness, sustainable development goals, and government policies, has fueled the growth of the bio-based feedstock market. Consumers in North America increasingly prefer eco-friendly and renewable alternatives, leading to the adoption of bio-based feedstocks in various industries, such as automotive, packaging, and textiles.

                                                                                                                                                                                                            Source: Statista

The graph indicates that the paper and pulp industry utilize bio feedstock as a key component in its operations. Given that North America leads the bio feedstock market, it can be inferred that the United States, as a prominent country within North America, also holds a leading position in paper and pulp production. With an annual production of 48.6 million metric tonnes, the US demonstrates a strong presence in the paper and pulp industry. As the bio feedstock market continues to grow, it is expected to have a positive impact on the paper and pulp industry, driving its expansion and further integration of bio-based materials.

COVID-19 Impact on the Global Bio Feedstock Market

• The COVID-19 pandemic has had a mixed impact on the bio-based feedstock market. On the positive side, the crisis has further highlighted the importance of sustainability and resilience in global supply chains. This has led to increased interest and investment in bio-based feedstocks as a renewable and environmentally friendly alternative to fossil-based resources.
• The pandemic has also underscored the need for diversified and local sources of feedstock, reducing reliance on international supply chains and enhancing food and energy security. These factors have propelled the growth of the bio-based feedstock market, with companies and governments seeking sustainable solutions for a post-pandemic recovery.
• The pandemic has also impacted specific sectors that heavily rely on bio-based feedstocks. For example, the decline in travel and transportation during the pandemic has significantly reduced the demand for biofuels, affecting the bioenergy sector. Similarly, the closure of restaurants, hotels, and events has impacted the demand for bio-based packaging and food service products. These disruptions have temporarily slowed down the growth of specific bio-based feedstock applications.

Top Key Players in the Global Bio Feedstock Market

• Beta Renewables (Italy)
• DowDuPont (US)
• Enerkem (Canada)
• Fiberight (US)
• GranBio (Brazil)
• VIRENT (US)
• Clariant (Switzerland)
• Abengoa (Spain)
• BASF (Germany)
• INEOS Bio (Switzerland)
• DSM (Netherlands)
• Cargill (US)
• Novozymes (Denmark)
• DSM (Netherlands)
• Roquette (France)
• Total Corbion PLA (Netherlands)
• Braskem (Brazil)
• Amyris (US) and Other Major Players

Key Industry Developments in the Global Bio Feedstock Market

In February 2022, Nuseed and bp have entered into a strategic agreement to expedite the market adoption of Nuseed Carinata as a sustainable and low-carbon biofuel feedstock. Under this partnership, Nuseed and bp will collaborate closely to promote and establish the use of Nuseed Carinata as a feedstock for the production of biofuels with reduced carbon emissions. The agreement seeks to leverage the unique properties of Nuseed Carinata and the expertise of both companies to drive the widespread adoption of this renewable feedstock in the biofuel industry.

In December 2021, Marathon Petroleum Corp and ADM formed a partnership to meet the increasing demand for renewable diesel fuel by producing soybean oil. The joint venture, named Green Bison Soy Processing, will oversee the operation of a soybean processing complex in Spiritwood, North Dakota. Under the agreement, ADM will hold a 75% stake in the joint venture, while Marathon will hold a 25% stake.