The ‘Global Fermentation Chemicals Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global fermentation chemicals market, assessing the market on the basis of its segments like product types, forms, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Fermentation Chemicals Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Around USD 78.5 Billion
• Forecast CAGR (2023-2028): 6.80%
• Forecast Market Size (2028): Nearly USD 115.9 Billion
A major factor driving the global fermentation chemicals market is the increased fermentation of alcohol in a wide range of sectors. The fermentation process is used for the development of beverages such as wine, beer, and spirit. Furthermore, there is also increased production of ethanol due to the demand for biofuel to reduce the dependency on fossil fuels and lower greenhouse gas emissions. Moreover, alcohol fermentation is used in the pharmaceutical sector for the development of bioactive compounds and antibiotics, among others.
Another factor that drives the global fermentation chemicals market is its growing usage of the product in the food and beverages sector. Chemicals are increasingly used for the fermentation process of several food items such as bread, cheese, pickles, sauce, soy, tofu, yoghurt, salami, pepperoni, and alcoholic beverages such as wine and beer. They can also be used to enhance the flavour by fermentation in coffee processing or utilised as an additive to preserve and increase the shelf life of products. Moreover, the growing consumer awareness and the rising preference for organic fermented products are bolstering the utilisation of fermentation chemicals.
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The application of fermentation in the production of a broad range of chemicals is also expected to drive the global fermentation chemicals market growth. Chemicals such as citric acid, amino acid, and lactic acid find their usage in the agriculture, cosmetics and personal care, and textile sectors, among others, hence aiding the market. Additionally, the fermentation process is employed in organic waste treatment to separate the bio-fertilisers and biofuel from degradable waste. Hence, the increasing demand for recycled and sustainable products is expected to expand the market demand in the coming years.
Several government initiatives such as investments and grants for research in biotechnology, chemicals, and other sectors are expected to fuel the market growth. Moreover, government regulations to lower pollution levels are also bolstering the demand for fermentation chemicals. Furthermore, the growing issue of climate change is anticipated to surge the demand for biofuels, stimulating the market growth.
Fermentation Chemicals Industry Definition and Major Segments
Fermentation chemicals are chemicals used to initiate the fermentation process by acting as catalysts, nutrients, or PH regulators. The fermentation process can be used for the production of carbon dioxide, ethanol, hydrogen, and lactic acid, which are utilised in food and beverages, polymers, pharmaceuticals, and biofuels, among other products.
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On the basis of product type, the market is classified into:
• Organic Acids
• Alcohol Fermentation
• Enzymes
• Others
Based on form, the market is categorised into:
• Liquid
• Powder
On the basis of application, the fermentation chemicals market is segmented into:
• Industrial Applications
• Food and Beverages
• Nutritional and Pharmaceuticals
• Plastics and Fibers
• Cosmetic and Toiletry
• Others
Based on region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Fermentation Chemicals Market Trends
A key trend propelling the growth of the global fermentation chemicals market is the robust growth of the pharmaceutical sector. The fermentation process is used to produce drugs and medications such as vaccines, and antibiotics, among others, leading to their increasing implementation. Furthermore, the increased research activities to develop innovative fermentation techniques and improve the overall yield and quality of drugs also provide opportunities for market growth. This research often involves advancements in technologies such as genetic engineering to enhance the efficiency of fermentation chemicals.
Increased funding in commercial-scale precision fermentation products is another crucial trend that is expected to fuel the global fermentation chemicals market. Precision fermentation involves the usage of genetically engineered micro-organisms that improve the efficiency, leading to increased funding by research departments. Moreover, with increased resources available, new techniques such as high-end genetic engineering methods can be implemented which refines the yield quality, hereby escalating the market growth. Additionally, it also promotes new product development, large scalability, and sustainable practices to a diverse catalogue of products, which is expected to favourably influence the market share.
Due to the rapidly evolving eating habits, the meat sector is expected to witness considerable growth, positively influencing the global fermentation chemicals market. Poultry owners are focused on providing quality feeds to the animals, leading to an increased demand for animal feed additives such as amino acids, enzymes, and probiotics, which provide adequate nutritional value and improve digestion. Furthermore, the usage of organic fermentation chemicals is a sustainable method considering the rising greenhouse gas emissions and can be used to reduce the carbon footprint, contributing to environmentally friendly practices.
North America is expected to hold a significant share of the global fermentation chemicals market owing to the growing usage of chemicals in sectors such as food and beverages, pharmaceuticals, and cosmetics. Moreover, the rising use of biofuel, particularly ethanol, in the region also drives the demand for fermentation chemicals. Several government initiatives to promote the usage of renewable energy and reduce carbon emissions are expected to cause a notable growth in biofuel production, consequently supporting the market demand.
Key Market Players
The major players in the global fermentation chemicals market report are
• BASF SE
• The Archer-Daniels-Midland Company
• Cargill, Incorporated
• DuPont de Nemours, Inc
• The Dow Chemical Company
• AB Enzymes
• Ajinomoto Co. Inc.
• Novozymes A/S
• Lonza Group AG
• Evonik Industries AG
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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