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Global microbial products market: $179 billion industry forecast by 2018
Microbial Products: Technologies, Applications and Global Markets - a new market research report on 2014-04-21 07:24:01
The global microbial products market was valued at $117 billion in 2012 and is expected to grow to nearly $134 billion in 2013. The market is forecast to reach nearly $179 billion by 2018, and register a compound annual growth rate (CAGR) of 6%.

Microbes were used for centuries to produce bread, wine, vinegar, and other common products —without anyone knowing the scientific basis for the ingredient. The discipline known today as microbiology was not established until the late 19th century.

The technology related to microbial production of metabolites such as ethanol, lactic acid, butanol, and riboflavin, and enzymes such as protease, amylase, and invertase was developed as early as the first few decades of the 20th century. Large-scale production of the antibiotic penicillin from Penicillium fungi was perfected during World War II and the microbial production of other antibiotics, amino acids, nucleotides, and enzymes soon followed.

Today, genetically engineered microbes are used for the commercial production of nonmicrobial products such as insulin, interferon, human growth hormone and viral vaccines. Microbes are also used to produce energy (e.g., biodiesel and bioethanol) and to clean up environmental pollutants such as sewage and oil spills. As the active ingredient in biofertilizers and biopesticides, microbes contribute to increasing agricultural productivity, and form the basis of cost-effective methods of mining and metallurgy. Indeed, the commercial possibilities of microbes appear endless.

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