According to a new market research study on “Asia Pacific Sophorolipid Market Forecast to 2027 – COVID-19 Impact and Analysis – By Type (Lactonic Sophorolipid and Acidic Sophorolipid) and Application (Household Detergents, Personal Care, Industrial & Institutional Cleaners, Food Processing, Oilfield Chemicals, and Others),” is expected to reach US$ 95.18 thousand by 2027 from US$ 64.02 thousand in 2019 and is expected to grow at a CAGR of 5.2% from 2020 to 2027.

The report provides trends prevailing in the Asia Pacific Sophorolipid Market along with the drivers and restraints pertaining to the market growth. The Asia Pacific region is expected to witness the fastest growth in the sophorolipids market during the forecast period. Moreover, with the implementation of advanced agricultural technology, Asia Pacific is expected to be a major market due to the growing agricultural sector in India and China. Besides, the surging importance of bio-based chemicals is the other factor driving the Asia Pacific Sophorolipid Market. However, high production costs and substitute products' availability may hinder sophorolipids' growth in the Asia Pacific. Besides, 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.

Allied Carbon Solutions Co.,Ltd; Givaudan; Evonik Industries AG; Saraya Co., Ltd.; and Mg Intobio Co., Ltd. are among the leading companies in the Asia Pacific Sophorolipid Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Evonik is commercializing biosurfactants. The company is now the first in the world to use biotech methods for producing industrial-scale quantities of high-quality surfactants—key components of modern shower gels, shampoos, and household cleansers. These products contain sophorolipids which are produced in nature by yeast and can be found in honey produced by bumblebees. Evonik works closely with the major international customers to tap into other sophorolipid applications quickly. The company’s scientists are also working to develop different ways of improving the production process—these improvements are expected to allow the company to build even larger plants.

The Report Segments The Asia Pacific Sophorolipid Market As Follows:

Asia Pacific Sophorolipid Market, by Type

• Lactonic Sophorolipid
• Acidic Sophorolipid

Asia Pacific Sophorolipid Market, by Application

• Household Detergents
• Personal Care
• Food Processing
• Industrial & Institutional Cleaners
• Oilfield Chemicals
• Others

Asia Pacific Sophorolipid Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

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