Fermentation Ingredients Market Research Report- Forecast to 2023
ID: MRFR/F-B & N/1564-CRR | May, 2017 | Region: Global | 130 pages | Cooked Research Reports
Fermentation Ingredients Market Information- by Type (Alcohol, Amino acid, Antibiotics & Vitamins, Polymer, Industrial Enzymes, Organic acid and Others), by Form (Dry, Liquid and Others), by Application (Chemical, Food & beverages, Pharmaceutical, Animal Feed and Others), by Feedstock (Sugar beet, Wheat, Corn and Other) and Province - Forecast to 2023
Report Description
Globally, the fermentation ingredients market is projected to reach USD 78.38 billion by 2023 with CAGR of 5.08%. Increasing application of fermentation ingredients by food and beverage industry is driving the market growth. America holds major market share followed by Asia Pacific region in the year 2017. America will witness higher growth rate during the forecast period due to increasing demand of fermentation ingredients for food and beverage application. Europe holds more than 20% of market share in 2017. Growing chemical and pharmaceutical industries in Europe is supporting the market growth in Europe region.
U.S. is the fastest growing country in fermentation ingredient market which will witness the growth rate of 6.12% during forecast period. Increasing demand of fermentation ingredients and availability of resources are driving the market growth in U.S. and Brazil. Increasing application of fermentation ingredients in chemical and pharmaceutical companies is playing a key role in growth of the market in Germany. Fermentation ingredient market in China and India is growing at CAGR of 5.72% and 5.35% respectively due to increasing demand of organic acid and alcohol in Asia Pacific region.
Increasing awareness about application of fermentation ingredients in personal care and pharmaceutical products is driving the growth of fermentation ingredients market. Rising popularity of food and beverages products made by using fermentation ingredients is boosting the market growth across the world. Introduction eco-friendly production system from fermentation ingredients manufacturers and advance technologies in fermentation process is also influencing the growth of the market. Rising production of sugar cane, beet, tapioca and corn is playing the major role in the growth of fermentation ingredients market in world.
America holds major market share followed by APAC in the year 2017. America will witness higher growth rate during the forecast period due to increasing demand of fermentation ingredients for food and beverage application. Europe holds 22.78% of market share in 2017 and it is projected to reach USD 17.08 billion by 2023. Growing chemical and pharmaceutical industries in Europe is supporting the market growth in Europe region. U.S. is the fastest growing country in fermentation ingredient market which is growing at CAGR of 6.12% during forecast period. Increasing demand of fermentation ingredients and availability of resources are driving the market growth in U.S. and Brazil. Increasing application of fermentation ingredients in chemical and pharmaceutical companies is playing a key role in growth of the market in Germany
Key Players
The leading market players in the Global Fermentation Ingredients market primarily are Archer-Daniels-Midland Co., The Dow Chemical Co, Cargill, Incorporated, E.I. du Pont de Nemours & Co., Evonik Industries AG, Novozymes A/S and Uquifa
Key players are focusing on expansion of their fermentation ingredient business. From six years, strategy of product launch and expansion of the fermentation ingredients business together holds around 50% of strategy share by key players. Acquisitions and agreement are two main factors which are contributing more than 40% of strategy share as it helping company to enhance their fermentation ingredients production capacity and to capture more market share across globe.
Global Fermentation Ingredients Market, By Value, USD Billion (2016-2023)
Target Audience
- Fermentation Ingredients Manufacturers
- Food and beverage Industry
- Chemical Industry
- Pharmaceutical Industry
- Retailers and wholesalers
- Traders, importers and exporters
Key Findings
- The Global Fermentation Ingredients market is projected to reach USD 78.38 billion by 2023 with growth rate of 3.46%
- Globally, application of fermentation ingredients in food and beverages is growing at higher rate of 5.38%
- Alcohol fermentation ingredients type holds the major market share for the year 2017 across the globe
Regional and State wise Analysis of Global Fermentation Ingredients market Development and Demand Forecast to 2023 Market
The reports also cover country level analysis:
America
- U.S.
- Brazil
- Canada
Europe
- Germany
- France
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of APAC
Rest of World
- Iran
- South Africa
- Other Countries
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