Market Introduction
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 commercially produced from vegetable oil and glucose by adding anon-pathogenic yeast, called Candida bombicola. 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 shown to be useful in hard surface cleaning a well as automatic dishwashing rinse aid formulations. This is attributed to their low foaming profile coupled with their surface activity properties, which are of potential interest in additional applications. 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.
Market Overview and Dynamics
The sophorolipid market in North America was valued at US$ 94.26 thousand in 2019 and is projected to reach US$ 136.37 thousand by 2027; it is expected to grow at a CAGR of 4.8% from 2020 to 2027. Increasing deployment of this bio-based surfactant for bioremediation applications in the agriculture industry on account of the significant reduction of oil and pesticides from the soil is anticipated to impact the market positively. The growing importance of cleaning agents, particularly for oil spills in the energy sector due to reducing exposure to marine life located offshore, is expected to impact this market positively. Excellent biosurfactant properties of sophorolipid have resulted in the rising popularity in manufacturing personal care products, including shampoos and deodorants. Sophorolipid also possesses antifungal properties, which are again expected to increase its application to manufacturing anti-dandruff shampoos and bacteriostatic agents.
However, high production costs and substitute products' availability may hinder sophorolipids' growth in North America. Furthermore, COVID-19 has affected economies and industries in various countries due to travel bans, lockdowns, and business shutdowns. In North America region, the US has the highest number of confirmed coronavirus cases than Canada and Mexico. This is expected to impact the chemical and materials industry in the region. Due to the COVID-19 outbreak, the supply chain is expected to get affected and may negatively impact the North America Sophorolipid Market.
Key Market Segments
The North America Sophorolipid Market is segmented into product type and application. Based on type, the North America 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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the sophorolipids market in North America 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; and Saraya Co., Ltd. among others.
Reasons to buy report
North America Sophorolipid Market Segmentation
North America Sophorolipid Market, by Type
North America Sophorolipid Market, by Application
North America Sophorolipid Market, by Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 94.26 thousand |
| Market Size by 2027 | US$ 136.37 thousand |
| CAGR (2020 - 2027) | 4.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Sophorolipid Market is valued at US$ 94.26 thousand in 2019, it is projected to reach US$ 136.37 thousand by 2027.
As per our report North America Sophorolipid Market, the market size is valued at US$ 94.26 thousand in 2019, projecting it to reach US$ 136.37 thousand by 2027. This translates to a CAGR of approximately 4.8% during the forecast period.
The North America 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 North America Sophorolipid Market report:
The North America Sophorolipid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Sophorolipid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Sophorolipid Market value chain can benefit from the information contained in a comprehensive market report.
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