Fermentation chemicals play an important role in chemical reactions. They act as a catalyst or initiator in the chemical reactions. The fermentation chemicals used in the production processes in various industries, such as cosmetics, pharmaceutical, food and beverage, helps production cost and save time. Morover, the increasing preference for organic feedstocks as compare to synthetic feedstocks by manufacturers in the fermentation processes is anticipated to be the major factor for themarket growth duieng the forecast period.
According to Data Bridge Market Research the Fermentation Chemicals Market accounted for USD 71.27 billion in 2021, and expected to reach USD 113.60 bilion by 2029. The market is expected to grow with a CAGR of 6.00% in the forecast period of 2022 to 2029.
“Increasing demand of fermentation chemicals in various industries”
The wide usage of fermentation chemicals in various industries has prompted the growth of the market. Major raw materials used for the manufacture of fermentation chemicals include beet, wheat, sugarcane, tapioca and corn. These agro derivatives are high in carbohydrate and starch contents. The food industry is the main consumer of fermentation chemicals. The growing population is expected to boost the demand for food which eventually increase the growth rate of the market over the forecast period. Moreover, industrial fermentation process for obtaining products such as polymers, bioplastics, biofuels, and composites is extremely complex which involves several steps during reactions. The conversion uses microorganisms or such as algae and yeasts , which may be genetically modified, and takes place in fermenters or bioreactors. Thus, these are the factors that increase the maket growth.
What restraints the growth of Fermentation Chemicals Market?
“High cost and fluctuation of the production process”
High expense associated with fermentation of lactic acids is limiting its usage in the dairy sector. This factor is anticipated to hamper the market growth during the forecast period. Morover, volatility of the production process in the fermentation of lactic acid, ethano and bacteria is hindering the demand for these fermentation chemicals. This factor can hamper the overall growth of the targeted market in the forecast period.
Segmentation: Fermentation Chemicals Market
The fermentation chemicals market is segmented on the basis of product type, form and application.
- On the basis of product type, the fermentation chemicals market is segmented into alcohol fermentation, enzymes, organic acids, others.
- Based on form, the fermentation chemicals market is segmented 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, other.
Regional Insights: North America is expected to dominate the Fermentation Chemicals Market
North America is expected to dominate the market and is expected to grow significantly owing to the increasing demand of enzymes in many applications including starch, paper and personal care in this regio. Moreover, the growing demand for biodegradable ethanol and plastics and increasing use of bio-based raw materials will further accelerate the market growth in this region.
- In addition, the Asia-Pacific region is likely to register highest growth rate during the forecast period of 2022 to 2029 owing to due to the increasing level of disposable income and growth of end-use industries such as food and beverages, pharmaceuticals in this region.. Furthermore, increasing adoption of organic food and beverages.will further boost propel the market growth in this region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-fermentation-chemicals-market
Recent Developments in Fermentation Chemicals Market
- In 2022, Evonik Industries AG established a manufacturing plant for rhamnolipids. This industrial manufacturing plant for the production of bio-based and fully biodegradable rhamnolipids which is projected to increase the market growth from toiletries and cosmetics applications.
- In 2022, Holiferm Ltd. And Sasol Chemicals made a partnership to create new biosurfactants for the commercialization of sophorolipids. With this partnership, Sasol Chemicals will purchase the large number of sophorolipids produced at the Holiferm facility in the U.K.. Coliform research and development activities will fulfill the demand for the requirement of sustainable surfactants. Holiferm process for the preparation of biosurfactants offers a decrease in carbon emission as compared to traditional surfactants.
The Prominent Key Players Operating in the Fermentation Chemicals Market Include:
- Novozymes (Denmark)
- BASF SE (Germany)
- DSM (Netherlands)
- DuPont (U.S.)
- Cargill, Incorporated (U.S.)
- ADM (U.S.)
- Ajinomoto Co., Inc. (Japan)
- Chr. Hansen A/S (Denmark)
- Dow (U.S.)
- Evonik Industries AG (Germany)
- TCI Chemicals (India) Pvt. Ltd. (India)
- Lonza (Switzerland)
- Invista (U.S.)
- AB Enzymes (Germany)
- Koninklijke DSM N.V. (Netherlands)
- Amano Enzyme Inc, (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of Fermentation Chemicals Market companies contact, https://www.databridgemarketresearch.com/reports/global-fermentation-chemicals-market
Research Methodology: Global Fermentation Chemicals Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
