Yahoo Finance Fermented Chemicals Market Size to Surpass USD 83.67 Billion by 2028 at 5.3% CAGR – Report by Market Research Future (MRFR)
Fermented Chemicals Market Insights and Industry Analysis by Product Type (Alcohols & Ketones, Amino Acids, Industrial Enzymes, Organic Acids and others), Application (Food & Beverages, Plastics & Fibers, Nutritional & Pharmaceuticals, Industrial Application, Cosmetic & Toiletry and others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2028
New York, USA, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Fermented Chemicals Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Fermented Chemicals Market Information by Product Type, Application, and Region - Forecast till 2028”, the market is estimated to grow at a 5.3% CAGR to reach USD 83.67 Billion by 2028.
Market Scope
The demand is anticipated to be driven by fermentation chemicals' eco-friendliness and cost advantages over their synthetic or petroleum-derived competitors.
The main ingredients of these compounds are vegetable feedstocks like corn, sugar, and starch. Many end-use industries prefer these products in fermentation processes as a result of the lack of synthetic feedstock. To lessen reliance on petrochemicals, major businesses have moved their attention toward bio-based raw resources. The main factors influencing the shift toward bio-based chemicals are rising crude oil prices, rising worries about carbon emissions, and the degradability of petrochemical-based products.
Beet, sugarcane, tapioca, wheat, and corn are some of the main agricultural products used in manufacturing. These agricultural derivatives include a lot of starch and carbohydrates. The largest consumer of fermentation chemicals is the food industry. Over the course of the forecast period, an expanding global population, particularly in Asia and the Pacific, is anticipated to increase the demand for food.
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Report Scope:
Report Attribute | Details |
Market Size in 2028 | USD 83.67 Billion |
CAGR | 5.3% (2021–2028) |
Base Year | 2020 |
Forecast Period | 2021–2028 |
Historical Data | 2019 |
Forecast Units | Value (Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, Application, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Drivers | The awareness of the consumption of organic food is leading the major food companies |
The environmental concern is accelerating the eco-friendly fermented chemicals demand in the industrial sector. |
Market Competitive Landscape:
The important vendors in the fermentation chemicals industry include
AB Enzymes (Germany)
Amano Enzyme Inc (Japan)
Evonik Industries AG (Germany)
Koninklijke DSM N.V. (The Netherlands)
EUROSANEX (Spain)
Cargill Incorporated (US)
Archer Daniels Midland Company (US)
BASF SE (Germany)
Ajinomoto Co. Inc (Japan)
Novozymes (Denmark)
Chr. Hansen Holding A/S (Denmark)
INVISTA (US)
DowDuPont (US)
In terms of product consumption, businesses like Dow and Evonik are progressively integrated into end-use markets. These businesses make plastic resins, excipients, medicinal compounds, and solvents using fermented chemicals. These companies can expand their reach and enter new areas thanks to these techniques.
One of the biggest problems fermentation chemical producers encounter is the fluctuating supply of raw materials. In order to acquire a competitive edge in terms of cost advantages, certain significant industry participants, including AB Enzymes, Eurosanex, and Dow Chemical Company have initiated in-house raw material production.
In May 2022, a joint venture to create new biosurfactants for the commercialization of sophorolipids was formed by Sasol Chemicals and Holiferm Ltd. In accordance with the cooperation, Sasol Chemicals will purchase the majority of the sophorolipids made at the Holiferm facility in the United Kingdom. Coliform research and development will supply the necessary main surfactants to meet the demand for sustainable requirements. Comparing biosurfactants made using the Holiferm technique to those made using conventional surfactants, there is a reduction in carbon emissions.
Market USP Covered:
Market Drivers:
The pharmaceutical industry's high need for fermentation chemicals is driving market expansion. These substances are used to create formulations like ointments, parenteral solutions, and anti-acne treatments. Additionally, it is employed in the production of calcium-based medications for the management of calcium deficient issues. As a result, the pharmaceutical industry's explosive growth is fueling the market expansion of fermentation chemicals.
The market expansion of fermentation chemicals is being driven by expanding R&D applications. In R&D centers, all of these compounds serve as the starting point for a variety of studies and tests. Therefore, the demand for fermentation chemicals is rising as a result of increased research and development applications, which is driving the market's expansion.
Furthermore, the demand for meat is surging significantly worldwide due to the expanding economies and population of developing nations. Future meat consumption is anticipated to rise due to evolving eating patterns in various parts of the world. Pork, poultry, sheep, beef, and veal are the different types of meat consumed, according to consumption. Pork and chicken meat make up a sizable portion of the total demand for meat in emerging nations.
As one of the main animal feed additives due to their nutritional value, the demand for amino acids is anticipated to increase in the worldwide meat market. Animals' muscle tissues can develop with the aid of these. The market for fermentation chemicals is anticipated to increase as a result of the fact that amino acids enable the efficient use of feedstock. Major players are concentrating on expanding their capacity for amino acid synthesis to satisfy the rising demand internationally.
Market Restraints:
Lactic acid fermentation is expensive, which limits its application in the dairy business. Over the forecast period, this factor is anticipated to restrain the market expansion of fermentation chemicals.
The need for these compounds is being hampered by the variability of the production process in the fermentation of bacteria, lactic acid, and ethanol. This issue may soon limit the market expansion of fermentation chemicals.
Browse In-depth Market Research Report (140 Pages) on Fermentation Chemicals https://www.marketresearchfuture.com/reports/fermentation-chemicals-market-7908
COVID 19 Analysis
The global economy was impacted by the COVID-19 outbreak. Due to the pandemic scenario, many nations had to go into lockdown in order to contain the mounting number of cases. The resultant disruption of supply and demand networks has had an impact on the global economy. The pandemic crisis required the suspension of a large number of operations, manufacturing plants, and infrastructure projects.
Problems will arise for the global market due to the shifting cost of raw materials and the slowing down of production as the epidemic expands. Positively, things are starting to calm down once more, which is reassuring for the growth of the market in the future.
Market Segmentation
By Product Type
The fermentation chemicals market, depending on product type, can be considered for amino acids, industrial enzymes, organic acids, alcohols & ketones, and others.
By Application
The food & beverage, plastics & fibers, nutritional & medicines, industrial application, cosmetic & toiletry, and others segments make up the worldwide fermentation chemicals industry, with respect to the application.
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Regional Insights
Because of the expanding use of bio-based raw materials and their ability to offset the rising cost of oil and natural gas, the North American market is anticipated to account for more than one-third of the global market share and remain the dominating market throughout the projected period. Additionally, it is anticipated that the region's demand for fermentation chemicals will increase as a result of the rising demand for biodegradable polymers and ethanol fuel.
Due to rising fermented chemical demand in pharmaceutical manufacturing along with rising organic food and beverage acceptance, the Asia Pacific market can develop at the highest rate throughout the forecast period.
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