Norwalk, CT, February 19, 2002 --Environmental biotechnology has been used by humans for many, many centuries in food making medicine, and fermentation, in addition to waste treatment. Although past generations had a very limited and rudimentary understanding of biotechnology, the science was and continues to be very simple: bacteria and other microorganisms are able to naturally degrade a variety of substances as food sources in order to multiply. As technological advances have taken shape, nature has been transformed by science and offers us unlimited potential in using environmental biotechnology through improved products, application methods and processes that allow us to clean up our past waste problems and control our growing waste streams now and in the future.
According to a soon-to-be-released study from Business Communications Company, Inc. (www.bccresearch.com) RE-103 Environmental Management through Biotechnology: Microorganisms and Enzymes for Waste Treatment, the total worldwide sales of environmental biotechnology products (microorganisms, enzymes, microbial blends, and nutrients) for U.S. manufacturers is currently estimated at $103.5 million. It is expected to grow at an AAGR (average annual growth rate) of 8.3% to reach $153.87 million by 2006.
Microbe blends are expected to see the largest increase in sales with sales of $47.61 million increasing to $74.55 million by 2006 at an AAGR of 9.4%. Nutrients are the second fastest growing and second largest market with an AAGR of 8.8% and current sales estimated at $24.83 million. Enzymes and microorganisms are predicted to keep a slower growth pace since these products represent more limited market potential. Enzymes should maintain an AAGR of 7.4% with current product sales of $20.71 million and reaching $29.56 million by 2006. Microorganisms will achieve an increase in sales by only 2.9% AAGR (with current sales of $10.35 million and growing to $11.93 million by 2006) reflected in the increase in microbe blend product sales and the use of isolated enzymes as alternatives to some microbial species.
In apparent worldwide consumption for environmental biotechnology products, microbial blends hold a 46% share of the total market, nutrients a 24% market share, enzymes a market share, and lastly microorganisms have the lowest market share at 10%. These market percentages are in directly relation to the product needs of customers, and while some product types will outpace other products in growth, those such as microbial products will retain the highest sales because they are simply used for more applications.
The forecasted product sales are affected by many forces, which include the economy (within the U.S. and on an international scale, which affects export sales), technological developments, competition, and regulation. Except for any unseen changes in the current climate in regard to these factors, environmental biotechnology products will have huge growth potential because are focusing their attention on the applications that are associated with biological products.
For more information about the report contact Business Communications Company, Inc., Tel: 203-853-4266; ext. 309, Email: [email protected].
