The Middle East bio-chemicals market comprises bio-based chemicals that are produced from renewable biomass sources. These include bio-lubricants, bio-solvents, bio-plastics, and other bio-based chemicals that are mainly used in the food and beverages, personal care, pharmaceutical, and agriculture industries. Bio-based chemicals provide sustainable and eco-friendly alternatives to petroleum-based chemicals.
The Middle East bio-chemicals market is estimated to be valued at US$ 1,998.5 KT in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The Middle East bio-chemicals market is expected to grow at a significant rate owing to rising demand for bio-based chemicals from the food and beverages industry in the region. Growing health awareness has been increasing the demand for natural and organic food products in Middle East countries which in turn is driving the demand for bio-chemicals in food processing and packaging applications. Additionally, the gradual shift towards green and sustainable chemicals from fossil fuel-based chemicals owing to stringent environmental regulations in the Middle East is also contributing to the market growth. However, high capital requirement for setting up bio-refineries and fluctuation in raw material supply are some of the challenges restraining the market growth.

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