Fermentation Chemicals Market: Information 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 (North America, Europe, Latin America, Asia-Pacific and the Middle East & Africa) - Forecast till 2030
ID: MRFR/CnM/6436-HCR | February 2021 | Region: Global | 140 pages
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According to MRFR analysis, the fermented chemicals market is estimated to reach over USD 83.67 Billion by the end of 2024 at a robust CAGR of 5.3%. The growth of the market for fermentation chemicals is projected to be primarily driven by the shift towards bio-based chemicals coupled with the growing concern regarding degradability and carbon emissions due to the use of petrochemicals. The increasing demand for alcoholic and non-alcoholic beverages is also projected to boost the growth of the market during the forecast period.
Regional Analysis
The fermentation chemicals market has been studied across five key regions, namely Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. In terms of value, the North American market is estimated to hold more than one-third of the global market share and be the dominant market throughout the forecast period owing to the growing use of bio-based raw materials while mitigating the rising price of oil and natural gas. In addition, the growing demand for biodegradable plastics and ethanol fuel is expected to further boost the demand for fermentation chemicals in the region. The Asia-Pacific market is expected to exhibit the highest CAGR during the forecast period due to the growing demand for fermented chemicals in pharmaceutical production coupled with the growing adoption of organic food and beverages. In Europe, stringent environmental regulations regarding the use of petroleum-based products have increased the production of green bio-based products, which is expected to boost the growth of the market for fermentation chemicals. The increasing application of fermentation chemicals in the oil and gas well treatment processes is expected to boost the growth of the Middle East & African market during the forecast period.
Key Players
Some of the key players operating in the global fermentation chemicals market are 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), and DowDuPont (US).
Market Overview
Fermentation chemicals play a vital role in chemical reactions. They act as an initiator or catalyst in chemical reactions. The application of fermentation chemicals in the production processes in end-use industries, such as pharmaceutical, food and beverage, and cosmetics, helps to save time and production cost. The fermentation chemicals comprise sugar, starch, corn, and other vegetable feedstocks. The growing preference for organic feedstocks over synthetic feedstocks by major manufacturers in the fermentation processes is expected to be the major factor driving the growth of the global fermentation chemicals market. The growing awareness among consumers regarding organic food consumption has urged major food manufacturing companies to shift towards bio-based raw materials, which is also expected to fuel the growth of the market during the forecast period.
Furthermore, growing environmental concern is expected to fuel the demand for eco-friendly fermented chemicals, which can be widely used in the industrial sector. The rising demand for fermented alcohols is also expected to propel the demand for fermentation chemicals as a raw material. The growing demand for ethanol, which is used as a fermentation chemical in alcoholic and non-alcoholic beverage manufacturing plants, is expected to further boost the market growth. The growing demand for fermentation chemicals as a raw material in the manufacturing of rubber, plastics, chemicals, textiles, and leather is expected to fuel the demand for fermentation chemicals during the forecast period.
Global Fermentation Chemicals Market Share, By Product Type, 2018 (%) 
Source: MRFR Analysis
Segmentation Analysis
The global fermentation chemicals market has been segmented based on product type, application, and region.
On the basis of product type, the global fermentation chemicals market has been categorized into alcohols & ketones, amino acids, industrial enzymes, organic acids, and others.
By application, the global fermentation chemicals market has been divided into food & beverages, plastics & fibers, nutritional & pharmaceuticals, industrial application, cosmetic & toiletry, and others.
The global fermentation chemicals market, by region, has been segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Target Audience
- Fermentation chemical manufacturers
- Raw material suppliers
- Distributors and suppliers of fermentation chemicals
- Potential investors
- Research institutes
- Government bodies
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 5.3%(2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD 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 Vendors | 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), and DowDuPont (US). |
| Key Market Opportunities | Growing environmental concern is expected to fuel the demand for eco-friendly fermented chemicals |
| Key Market Drivers | The growing preference for organic feedstocks over synthetic feedstocks by major manufacturers in the fermentation processes. |
Frequently Asked Questions (FAQ) :
Valuation of The Global Fermentation Chemicals Market is poised to touch USD 83.67 BN by the end of 2024.
Fermentation Chemicals Market is projected to expand at over 5.3% CAGR during the assessment period (2019-2024).
Plastic & fiber is the largest application segment in the Global Fermentation Chemicals Market.
North America holds the largest share in the Global Fermentation Chemicals Market, followed by the Asia Pacific and Europe, respectively.
Amano Enzyme Inc. (Japan), AB Enzymes (Germany), Evonik Industries AG (Germany), EUROSANEX (Spain), Koninklijke DSM N.V. (The Netherlands), Cargill, Incorporated (US), BASF SE (Germany), Archer Daniels Midland Company (US), Ajinomoto Co., Inc. (Japan), Chr. Hansen Holding A/S (Denmark), Novozymes (Denmark), DowDuPont (US), and INVISTA (US), are some of the major players operating in the Fermentation Chemicals Market.
