AgroFresh, a global leader in post-harvest freshness solutions, and Novozymes, a top biotech company, were creating a research and commercialization relationship to create biological solutions that could enhance post-harvest food quality and reduce waste by combating fungal diseases. The environment would profit from the finished products, which were anticipated to be created for post-harvest uses. Growers, retailers, and consumers would also gain from them.
The world's largest producer of biofuel, POET, LLC., commended the legislation's introduction in order to give more Michigan drivers cheaper, cleaner options at the petrol station.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4879
Published Date: May 01, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The major factors driving the growth of the market are growing demand for vehicles, rise in generation of electricity, surge in government initiatives to use biofuels, and others.
The market size of second-generation biofuels is anticipated to attain a CAGR of 25% over the forecast period, i.e., 2023-2035.
High production costs, lack of availability of feedstocks, and policy uncertainty are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Abengoa S.A., DuPont de Numours, Inc., Novozymes, BP p.l.c., and more.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by feedstock, application, type, process, and by region.
The transportation segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.