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CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

preface

Biomanufacturing is an emerging industry that uses the physiological metabolic functions or catalytic effects of organisms to produce chemicals and polymer materials needed by humans on a large scale through industrial fermentation and other technologies. This manufacturing method is clean, efficient and renewable, and is considered a potential industry to lead the "Fourth Industrial Revolution", and the market size is expected to reach the trillion level. The development of the biomanufacturing industry will not only help promote the transformation of the economy to green, sustainable and high-quality development, but also be of great significance for building a green, low-carbon circular economy system and achieving the dual carbon goals. With the continuous advancement of technology and the continuous promotion of policies, the biomanufacturing industry is expected to become an important engine of economic growth in the future.

First, the scale of China's biomanufacturing market

Biomanufacturing technology has a wide range of applications, including but not limited to pharmaceutical, chemical, agricultural, energy, and materials fields. For example, products such as the hepatitis B vaccine, insulin, hyaluronic acid, collagen, and fuel ethanol are all produced through biomanufacturing techniques. China has listed biomanufacturing as a key strategic emerging industry, and clearly stated in the "14th Five-Year Plan" for the development of the bioeconomy that it will cultivate and expand four pillar industries: medical and health, bio-agriculture, bio-energy and bio-environmental protection, and bio-information. The total size of China's biomanufacturing market from 2020 to 2023 will be 237.24 billion yuan, 289.84 billion yuan, 347.94 billion yuan and 420 billion yuan respectively.

Chart: China's biomanufacturing market size from 2020 to 2023

CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

Data source: China Investment Industry Research Institute

2. List of cutting-edge enterprises in China's biomanufacturing

According to the "2024-2028 China Biomanufacturing Industry In-depth Research and Investment Prospect Forecast Report" released by CIC Industry Research Institute, in November 2023, at the China Biomanufacturing Industry Development Conference held in Shijiazhuang, the list of "Cutting-edge Enterprises in the Biomanufacturing Field in 2023" was grandly released. 42 enterprises in the country stand out in 8 major biomanufacturing fields such as food, pharmaceuticals, materials, chemicals, enzymes, basics, natural products, and recombinant proteins, among which 4 enterprises in Hebei are on the list.

In this selection, Hebei Huaheng Biotechnology Co., Ltd., Hebei Naco Biotechnology Co., Ltd., Hebei Shoulang New Energy Technology Co., Ltd., Hebei Muqun Biotechnology Co., Ltd., four biomanufacturing enterprises have made outstanding achievements in the four major biomanufacturing fields such as food, materials, chemicals, and enzymes, and are on the list.

Chart: 2023 List of Cutting-edge Biomanufacturing Enterprises (1)

CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

Data source: China Investment Industry Research Institute

Chart: 2023 Biomanufacturing Emerging Enterprises List (2)

CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

Data source: China Investment Industry Research Institute

Chart: 2023 List of Cutting-edge Biomanufacturing Enterprises (3)

CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

Data source: China Investment Industry Research Institute

3. Urban echelon division of biomanufacturing industry

The 14th Five-Year Plan for the Development of the Bioeconomy proposes to rapidly apply bioinformation technology to health, agriculture, resources and environment, so as to promote the deep integration of biotechnology and information technology, thereby enriching the diversity of ecological products. Under the guidance of this policy, many regions in China have begun to accelerate the construction of a bioeconomic system. The 2022 ranking of China's top 100 bioeconomy cities divides the key cities in the domestic biomanufacturing industry into three levels.

According to the 2024-2028 China Biomanufacturing Industry In-depth Research and Investment Prospect Forecast Report released by CIC Industry Research Institute, the top 10 cities in Tier 1 include Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Hangzhou, Nanjing, Wuhan, Suzhou and Tianjin. These regions have a solid economic foundation, and have abundant educational, scientific research, financial and human resources, coupled with a mature market economy system, which provides strong support for the development of biomanufacturing. The second level includes 20 cities such as Chongqing, Wuxi, Hefei, Qingdao, Changsha and Xi'an, which have significantly enhanced their attraction to innovative elements such as talents, capital and science and technology under the continuous improvement of infrastructure and resource elements, and the agglomeration effect of resources has become increasingly significant. Although the third-tier cities are relatively insufficient in the key elements of the development of bio-manufacturing such as talents, technology and capital, they benefit from the strategic opportunity of the country to promote the conversion of old and new kinetic energy and vigorously develop the bio-economy.

Chart: Key city levels in the domestic biomanufacturing industry

CIC Advisor's Perspective| Assessment of the growth potential of China's biomanufacturing market in 2024

Source: Compiled by CIC Industry Research Institute

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