Fermentation Chemicals Market Is Projected To Be Around $ 77.93 Billion By 2025
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A research study titled, “Fermentation Chemicals Market by Products, Application - Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the fermentation chemicals market is projected to be around $ 77.93 billion by 2025.
The global fermentation chemicals market was valued around USD 47.28 billion in 2016 and is expected to reach roughly USD 77.93 billion by 2025 while maintaining a compound annual growth rate (CAGR) of 5.71% during the forecast period. Fermentation is a process related to metabolism that absorbs sugar in the absence of oxygen. The products are gases, alcohol, or organic acids. It exists in bacteria and yeast, and also in oxygen- craved muscle cells, as in the event of lactic acid fermentation. The fermentation science is referred as zymology. Fermentation chemicals are a vital ingredient in the production of green bio-based products. With strict environmental policies being enforced by regulatory authorities in developed countries such as the United States, the requirement for these products is predicted to increase rapidly over the forecast period. Environmental concerns are likely to propel demand for the fermentation chemicals market as these are environment-friendly and can be used in a variety of industrial applications. There has also been an increase in the demand for fermented alcohols worldwide, which is expected to boost the demand for fermentation chemicals as a staple. For example, the demand for fermentation chemicals has increased progressively due to its application as a staple in the chemical, rubber, plastic, leather and textile industry.
The global fermentation chemicals market is expected to witness prominent growth due to a major drop in time, as well as the price of producing products using fermentation chemicals that act as accelerators, which in result boosted their demand. Huge requirement for fermentation chemicals for the production of methanol & ethanol to meet demand from a range of chemical and industrial applications is prone to drive the global fermentation chemicals market. Massive demand for natural acids from fiber & plastic producers will have a key impact on the market growth over the forecast period. These acids are used in animal feed, nutritional food, and food preservation. Rising demand for nutritional and sealed food is projected to further trigger the market demand. Rising enzymes demand from various industrial applications such as paper, personal care, and starch is expected to have considerable positive effects on the global market growth.
The major participants in the global fermentation chemicals market are; DuPont Danisco A/S, Amano Enzyme, Inc., Evonik Industries, BASF SE, Archer Daniels Midland, Ajinomoto Company Incorporation, Cargill, Inc., and The Dow Chemical Company. On basis of products types, the market is split into; Enzymes, Alcohols and Organic Acids. By application, the global market is classified as; Plastics and Fibers, Industrial Applications, Nutritional and Pharmaceutical, Food and Beverages and Others. Geographically, the global fermentation chemicals industry is segmented in regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada)and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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Key findings of the fermentation chemicals market
- The global fermentation chemicals market was valued approximately USD 47.28 billion in 2016 and is anticipated to reach almost USD 77.93 billion by the end of 2025 while maintaining a compound annual growth rate (CAGR) of 5.71% from 2016 to 2025.
- Fermentation chemicals are extensively utilized for industrial applications, and the industrial segment had 44.7% share of total market volume in 2015. Growing industrialization in developing countries like China and India are likely to drive the growth of this segment. Fibers and plastics are projected to experience the maximum growth of 5.6% during the forecast years. Escalating demand for composites and bio-plastics is forecasted to boost the growth of this segment over the forecast period.
- The North American region has emerged as the top market with 33.7% market share in 2015. Elevated demand for food & beverage and industrial application segments predominantly in the United States has bestowed towards superior market penetration in the region.
- Asia Pacific region is expected to exhibit the highest growth over the forecast period. The rapid development of key end-use industries like pharmaceuticals, plastics and food & beverages in Thailand, China, Indonesia, India and is likely to propel the regional market.
- Key industry players involve Amano Enzyme Inc, BASF SE, Cargill Inc, The Dow Chemical Company, DuPont Danisco A/S, Archer Daniels Midland, Evonik Industries, Ajinomoto Company Incorporation, etc.