According to the latest report by IMARC Group, titled “Fermentation Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global fermentation chemicals market size reached US$ 59.6 Billion in 2019. Fermentation refers to the aerobic breakdown of organic molecules. On the industrial level, fermentation chemicals are utilized for increasing the pace of chemical reactions, which, in turn, helps in lowering energy consumption, manufacturing costs and fermentation time. These chemicals are generally produced using vegetable-based feedstocks, such as sugar, corn and starch. In recent years, advancements in technology have enabled the large-scale production of these chemicals, which, in turn, has boosted their utilization across the globe.
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Global Fermentation Chemicals Market Trends:
Fermentation chemicals are essential for the production of alcoholic beverages, owing to which an increase in their demand has led to the significant growth of the global fermentation chemicals market. Besides this, the usage of these chemicals in other industries, ranging from food and beverages to cosmetics and pharmaceuticals, is also contributing to the market growth. In the pharmaceutical industry, these chemicals are used to develop novel medicines using bacterial cultivation. Whereas, in the food and beverage sector, they are used as preservatives in the preparation of baked goods and other food products. The usage of fermentation chemicals, such as carboxylic acid and amino acids, has also increased in cosmetic products. Furthermore, with growing concerns regarding carbon emissions caused by using petrochemical-based products, organizations are shifting toward plant-based fuels, such as bioethanol, which are synthesized using fermentation chemicals. On account of these factors, the market value is projected to reach US$ 79.0 Billion by 2025, expanding at a CAGR of 4.7% during 2020-2025.
- Based on the product, the market has been segmented into alcohol, enzymes, organic acids and others.
- On the basis of the form, the market has been bifurcated into liquid and powder form.
- The market has been categorized based on the application into industrial, food and beverages, nutritional and pharmaceuticals, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, Indonesia, South Korea, Australia and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being BASF SE, AB Enzymes, Ajinomoto Co., Inc., Amano Enzymes USA, Co., Ltd., Archer Daniels Midland (ADM) Company, Cargill Incorporated, Chr. Hansen A/S, Koninklijke DSM N.V., Evonik Industries AG, Novozymes A/S, The Dow Chemical Company and Koch Industries Inc. (Invista BV).
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