Global fermentation chemicals market is expected to reach to USD 96.34 Billion by 2026 at a CAGR of 5.8% during the forecast period 2019-2026. Emerging demand from methanol and ethanol industry and growing research expenditure have altogether spurred the growth of the market.
Fermentation chemicals are defined as the chemicals which are used to speed up the fermentation process. They act as process initiators in an array of applications and play the role of catalysts or process-enhancing chemicals and thus, contribute in minimizing the manufacturing cost, chemical reaction time (fermentation time) as well as energy consumption, making the fermentation process more economically attractive. Due to their natural structure, low cost and productivity-enhancing features, fermentation chemicals find applications in a multiple of industries worldwide.
- The base year for the study has been considered 2018, historic year 2017 and 2017, the forecast period considered is from 2019 to 2026. The fermentation chemicals market is analysed on the basis of value (USD Billion) and volume (Kilo Tons).
- The study delivers a comprehensive analysis of global fermentation chemicals market by product, application and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global fermentation chemicals market. This report incorporates the industry analysis which is focused on providing an extensive view of the fermentation chemicals market.
- The study also includes attractiveness analysis of product, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the fermentation chemicals market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Emerging demand from methanol and ethanol industry
- Growing research expenditure in North America and Europe
- Environment-friendliness coupled with cost benefits over their synthetic or petroleum derived counterparts is expected to drive the demand.
- Unavailability of raw material
- Developing green industry
- Growing demand for bio-based feedstock in industrial biotechnology
- High cost owing to the complexity involved in the manufacturing process
Global Fermentation Chemicals Market Key Findings:
All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment.
The fermentation chemicals market is segmented on the basis of product and application
- The product segment is segmented into alcohols, enzymes, organic acid and others. The alcohols segment is dominating the market and valued around USD 28.89 Billion in 2018. Alcohol is used broadly in bread, pickles, cheese, and alcoholic beverages.
- The application segment is segmented into industrial, plastic & fibers, pharmaceuticals and nutritional, food and beverages and others. The industrial segment is dominating the market with the highest share of 41.20% in 2018. Implementation of green chemistry and various regulations for commercial and industrial applications have resulted in higher penetration. It is due to the utilization of fermentation by microorganisms, such as fungi, bacteria, and eukaryotic cells for manufacturing products such as ethanol, citric acid, and acetic acid.
Regional Segmentation Analysis:
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global fermentation chemicals market with USD 26.01 Billion in 2018 where as the Asia Pacific region is growing rapidly in the market.
- North America region is dominating the market as it is the manufacturing hub for major industry participants operating in sectors such as food & beverages, nutrition, and pharmaceutical, as well as plastics and fibers. Rising demand for enzymes from various industrial applications such as paper, personal care, and starch is expected to have a considerable effect on the industry growth
- Asia Pacific is anticipated to grow rapidly. It is due to the growth of key end-use industries such as food and beverages, pharmaceuticals, and polymers, particularly in India and China. Also, rising per-capita middle-class disposable income levels along with growth in the food and beverages industry are expected to augment regional demand.
Global Fermentation Chemicals Market Competitive Analysis:
Key players in the fermentation chemicals market are Ajinomoto Company Incorporation, BASF SE, The Dow Chemical Company, AB Enzymes, Amano Enzyme Inc., Archer Daniels Midland Company, Cargill Incorporation, Du Pont Danisco A/S, Novozymes A/S, DSM, Evonik Industries AG, Chr. Hansen A/S, INVISTA, LanzaTech, and among others. For instance in 2019, Yeast and fermentation specialist Lesaffre acquired a majority stake in Italian company Gnosis, which specialises in the development, production and sale of fermentation ingredients for the food and nutraceutical industries.
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This study forecasts revenue and volume growth at global, regional, and country levels from 2016 to 2026. Fior Markets has segmented the global fermentation chemicals market on the basis of below mentioned segments:
Global Fermentation Chemicals Market, By Product:
- Organic Acid
Global Fermentation Chemicals Market, By Application:
- Plastic & Fibers
- Pharmaceuticals and Nutritional
- Food and Beverages
Global Fermentation Chemicals Market, By Regions: