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| Application Area | Projected Growth (%) | Key Benefits | Potential Challenges |
|---|---|---|---|
| Pharmaceuticals | 15% | High efficacy, reduced side effects | Regulatory hurdles |
| Cosmetics | 20% | Enhanced skin absorption | Market saturation |
| Agriculture | 10% | Improved crop yield | Environmental regulations |
| Food Additives | 12% | Natural preservation | Consumer awareness |
| Biotechnology | 18% | Innovative solutions | Technical complexities |