Asia Pacific Sophorolipid Market
A sophorolipid is a surface-active glycolipid compound which can be synthesized by a selected number of non-pathogenic yeast species. They are potential bio-surfactants owing to their biodegradability and low eco-toxicity. Besides biodegradability, low toxicity & high production potential, sophorolipid has a high surface and interfacial activity. Sophorolipids are extracted from natural sources and are expected to be an alternative to petrochemicals such as detergents and pesticides. The efficacy of sophorolipid in breaking down oil into droplets would likely increase market penetration as oil dispersants. Sophorolipid is widely used in agriculture products, like pesticides and other chemicals, in detergents for residential, medical, and healthcare usage, in personal care & cosmetic products, such as shampoo, hash wash liquids, soap, and many other products. Due to the increasing demand for sophorolipid from many end-use industries, including oil & energy, agriculture, chemical, pharmaceutical, medical & healthcare, consumer goods, and others, this market is booming day by day.
The sophorolipid market in the Asia Pacific was valued at US$ 64.02 thousand in 2019 and is projected to reach US$ 95.18 thousand by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. Asia Pacific is expected to be a major market due to the growing agricultural sector in India and China. Furthermore, favorable regulatory policies coupled with low production costs in India and China compared to Asia Pacific and the United States have led to the growth of the pharmaceutical industry. Owing to these factors, it is expected that the use of sophorolipids in the manufacture of antiviral and antimicrobial drugs will have a positive impact on the market. The growth in popularity of organic personal care products in Japan and South Korea in the light of new product launches is projected to increase market penetration in the near future. Also, increasing demand for both the lactonic and acidic sophorolipids is again influencing the market growth in this region. With the increase in population, there is growth in urbanization as well as industrialization in this region, which is also contributing to the studied market growth. Being aware of health and wellness, consumers in these regions are quite concerned about the environment, and this factor is also propelling the market growth for sophorolipids.
However, high production costs and substitute products' availability may hinder sophorolipids' growth in Asia Pacific. Furthermore, COVID-19 has affected economies and industries in various countries due to travel bans, lockdowns, and business shutdowns. The consequence and impact can be worse and depends on the spread of the virus. The Asia Pacific government is taking possible steps to reduce its effects by announcing lockdown. Such closures are anticipated to impact the revenue generated by the market in the coming period negatively. Till now, India has the highest number of COVID-19 confirmed cases.
The Asia Pacific Sophorolipid Market is segmented into type and application. Based on type, the Asia Pacific sophorolipid market is segmented into lactonic sophorolipid and acidic sophorolipid. The acidic sophorolipid segment is the leading segment during the forecast period. Based on application, the sophorolipid market is segmented into household detergents, personal care, food processing, industrial & institutional cleaners, oilfield chemicals, and others. The personal care segment is the fastest-growing segment with the highest CAGR.
A few major primary and secondary sources referred to for preparing this report on the sophorolipids market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Allied Carbon Solutions Co.,Ltd; Givaudan; Evonik Industries AG; Saraya Co., Ltd.; and Mg Intobio Co., Ltd. among others.
Strategic insights for the Asia Pacific Sophorolipid provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 64.02 thousand |
| Market Size by 2027 | US$ 95.18 thousand |
| Global CAGR (2020 - 2027) | 5.2% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Sophorolipid refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Asia Pacific Sophorolipid Market is valued at US$ 64.02 thousand in 2019, it is projected to reach US$ 95.18 thousand by 2027.
As per our report Asia Pacific Sophorolipid Market, the market size is valued at US$ 64.02 thousand in 2019, projecting it to reach US$ 95.18 thousand by 2027. This translates to a CAGR of approximately 5.2% during the forecast period.
The Asia Pacific Sophorolipid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Sophorolipid Market report:
The Asia Pacific Sophorolipid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Sophorolipid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Sophorolipid Market value chain can benefit from the information contained in a comprehensive market report.
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