USD 66.57 billion
Fermentation Chemicals Market Size, Share, Growth Analysis, By Product(Alcohols, Enzymes, Organic Acids, Other Products), By Application(Industrial Application, Food & Beverages, Nutritional and Pharmaceutical, Plastics and Fibers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15B2103 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
66
|Figures:
75
Fermentation Chemicals Market Insights
Fermentation Chemicals Market size was valued at USD 66.57 billion in 2021 and is poised to grow from USD 71.16 billion in 2022 to USD 121.35 billion by 2030, at a CAGR of 6.9% during the forecast period (2023-2030).
The global fermentation chemicals market plays a crucial role in various industries, including food and beverages, pharmaceuticals, chemicals, and biofuels. Fermentation chemicals are widely used in the production of a diverse range of products, such as alcohol, antibiotics, enzymes, organic acids, and biopolymers. One of the key drivers of the fermentation chemicals market is the growing demand for sustainable and eco-friendly alternatives in industries such as biofuels and bioplastics. Fermentation processes offer a more sustainable approach compared to traditional chemical synthesis methods, as they utilize renewable feedstocks and generate fewer harmful byproducts. This trend aligns with the increasing emphasis on environmental sustainability and the need to reduce carbon emissions. The pharmaceutical industry is another major driver of the fermentation chemicals market. The production of antibiotics, vaccines, and other pharmaceutical products often involves fermentation processes. With the rising global population and increased healthcare expenditure, the demand for pharmaceutical products is expected to grow, thereby driving the demand for fermentation chemicals.
However, the market also faces several challenges. One of the primary challenges is the fluctuating prices of raw materials, such as sugars and agricultural crops used as feedstocks for fermentation. Price volatility can impact the profitability of manufacturers and hinder market growth. Another challenge is the regulatory environment. The fermentation chemicals industry is subject to stringent regulations and quality standards to ensure product safety and efficacy. Compliance with these regulations can be complex and costly, particularly for small and medium-sized enterprises. Additionally, competition from alternative technologies and processes poses a challenge to the fermentation chemicals market. Advancements in synthetic biology, genetic engineering, and other biotechnological approaches provide alternatives to traditional fermentation methods. Manufacturers need to continuously innovate and adapt to stay competitive in the evolving landscape. Despite these challenges, the global market is expected to witness steady growth due to the increasing demand for sustainable and bio-based products, advancements in fermentation technologies, and expanding applications across various industries. Market players are focusing on research and development activities, strategic partnerships, and expansions to capitalize on the opportunities presented by this growing market.
US Fermentation Chemicals Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Organic Acids
Fastest Growth
Organic Acids
Growth Rate
6.9% CAGR
Global Fermentation Chemicals Market ($ Bn)
Country Share for North America Region (%)
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Fermentation Chemicals Market Segmental Analysis
Global Fermentation Chemicals Market is segmented on the basis of product, application, and region. By product, the market is segmented into Alcohols, Enzymes, Organic Acids, Other Products. By application, the market is segmented into Industrial Application, Food & Beverages, Nutritional and Pharmaceutical, Plastics and Fibers, Other Applications. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Fermentation Chemicals Market Analysis By Product
The organic acids segment dominated the global fermentation chemicals market. Organic acids, such as citric acid, lactic acid, and acetic acid, are widely used in various industries, including food and beverages, pharmaceuticals, and personal care. These acids find applications as preservatives, flavor enhancers, pH regulators, and antimicrobial agents. The dominance of organic acids in the fermentation chemicals market can be attributed to their extensive usage and broad range of industrial applications.
The fastest growing segment in the global fermentation chemicals market is enzymes. Enzymes play a crucial role in various biochemical reactions and are utilized in diverse industries, including food and beverages, biofuels, and pharmaceuticals. Enzymes offer specific and efficient catalytic properties, enabling manufacturers to optimize production processes and reduce energy consumption. The increasing demand for enzymes in biocatalysts, biopharmaceutical manufacturing, and biofuel production is driving the rapid growth of this segment in the fermentation chemicals market.
Fermentation Chemicals Market Analysis By Application
The food and beverages industry dominated the global fermentation chemicals market. Fermentation chemicals find extensive use in the food and beverages sector for various purposes, including flavor enhancement, preservation, and production of alcoholic beverages. The demand for fermentation chemicals in this industry is driven by the growing population, changing consumer preferences, and the need for longer shelf life and improved taste in food products.
The fastest growing segment in the global fermentation chemicals market by application is the nutritional and pharmaceutical sector. Fermentation chemicals play a crucial role in the production of vitamins, antibiotics, amino acids, and other nutritional and pharmaceutical products. The increasing focus on health and wellness, along with rising healthcare expenditure, is driving the demand for fermentation-based nutritional supplements and pharmaceuticals. The utilization of fermentation processes enables the efficient production of bioactive compounds and high-quality pharmaceutical ingredients, contributing to the rapid growth of this segment.
Global Fermentation Chemicals Market By Product
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Fermentation Chemicals Market Regional Insights
North America dominated the global fermentation chemicals market. North America holds a significant share in the market due to the presence of established industries, such as food and beverages, pharmaceuticals, and chemicals. The region's well-developed infrastructure, robust research and development capabilities, and strong regulatory framework contribute to its dominance in the fermentation chemicals market. North America is home to several key players in the industry, driving innovation and technological advancements.
The fastest growing segment in the global fermentation chemicals market is the Asia Pacific region. The region's rapid economic growth, increasing population, and rising disposable incomes are driving the demand for various industries, including food and beverages, pharmaceuticals, and chemicals. Additionally, the shift towards sustainable and bio-based products further fuels the demand for fermentation chemicals in the region. Countries like China, India, and Japan are witnessing significant growth in the fermentation chemicals market, supported by expanding industrial sectors and government initiatives promoting sustainable practices. The Asia Pacific region offers immense growth potential due to its large consumer base, favorable investment climate, and increasing adoption of fermentation technologies.
Global Fermentation Chemicals Market By Region
- Largest
- Fastest
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Fermentation Chemicals Market Dynamics
Fermentation Chemicals Market Drivers
Growing demand for sustainable and eco-friendly products
- There is an increasing focus on sustainability and environmental consciousness across industries. Fermentation chemicals offer a more sustainable alternative to traditional chemical synthesis methods, driving their demand in various applications.
Rising population and urbanization
- The global population is steadily increasing, leading to a higher demand for food, beverages, pharmaceuticals, and other consumer goods. Fermentation chemicals play a crucial role in the production of these products, driving their demand.
Fermentation Chemicals Market Restraints
Stringent regulatory environment
- The production and use of fermentation chemicals are subject to strict regulations and quality standards to ensure safety and efficacy. Compliance with these regulations can be complex and costly, posing a barrier to market growth.
Competition from alternative technologies
- Advancements in synthetic biology, genetic engineering, and other biotechnological approaches provide alternatives to traditional fermentation methods. These alternative technologies pose a challenge to the fermentation chemicals market, requiring companies to continuously innovate to stay competitive.
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Fermentation Chemicals Market Competitive Landscape
The competitive landscape of the global fermentation chemicals market is characterized by intense competition and a diverse range of players. These companies operate across various segments of the market, including food and beverages, pharmaceuticals, chemicals, and biofuels. They strive to develop innovative products, expand their geographical presence, and strengthen their market position. The competitive landscape is shaped by factors such as research and development capabilities, technological advancements, product portfolio, and strategic partnerships. Companies in the market focus on research and development activities to introduce new and improved fermentation chemicals, enhance production processes, and cater to evolving customer demands. They invest in cutting-edge technologies, such as synthetic biology, genetic engineering, and fermentation optimization techniques, to drive innovation and gain a competitive edge. Strategic partnerships and collaborations are common in the fermentation chemicals market, enabling companies to leverage each other's expertise, expand their product offerings, and access new markets. Collaborations with research institutions, universities, and government bodies also help companies enhance their research capabilities and stay at the forefront of technological advancements. The market is also influenced by factors such as regulatory compliance, quality control, and sustainability. Companies that prioritize environmental sustainability, offer high-quality products, and comply with regulatory standards have a competitive advantage.
Fermentation Chemicals Market Top Player’s Company Profiles
- Novozymes A/S - Denmark
- Archer Daniels Midland Company - US
- Cargill, Incorporated - US
- Evonik Industries AG - Germany
- DSM N.V. - Netherlands
- Lonza Group Ltd. - Switzerland
- Ajinomoto Co., Inc. - Japan
- Tate & Lyle PLC - UK
- Novamont S.p.A. - Italy
- Chr. Hansen Holding A/S - Denmark
- Roquette Frères - France
- Fermenta Biotech Ltd. - India
- CJ CheilJedang Corporation - South Korea
- Lallemand Inc. - Canada
- Kyowa Hakko Bio Co., Ltd. - Japan
- Amano Enzyme Inc. - Japan
- Codexis, Inc. - US
Fermentation Chemicals Market Recent Developments
- In January 2022, Evonik Industries AG has recently inaugurated a production facility dedicated to the manufacturing of rhamnolipids. This facility marks a significant milestone in the commercial production of bio-based and completely biodegradable rhamnolipids, which are expected to drive market growth, particularly in the cosmetics and personal care industries. The establishment of this facility underscores Evonik's commitment to meeting the rising demand for sustainable and eco-friendly ingredients in these sectors.
Fermentation Chemicals Key Market Trends
- Growing applications in the pharmaceutical and healthcare sector: Fermentation chemicals play a vital role in the production of pharmaceutical ingredients, including antibiotics, enzymes, and vitamins. The increasing demand for healthcare products and the development of personalized medicine are driving the utilization of fermentation chemicals in the pharmaceutical and healthcare industry.
- Expansion of fermentation chemicals in emerging markets: Emerging economies, particularly in Asia Pacific and Latin America, are experiencing rapid industrialization and urbanization. This creates new opportunities for the fermentation chemicals market as these regions witness increased demand for food and beverages, pharmaceuticals, and other consumer goods.
Fermentation Chemicals Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global fermentation chemicals market analysis, the market is experiencing significant growth and transformation driven by increasing demand for sustainable and bio-based alternatives across industries, coupled with advancements in fermentation technologies, is propelling market expansion. The shift towards eco-friendly solutions and the rising awareness of environmental sustainability are driving the adoption of fermentation chemicals in the production of biofuels, bioplastics, and biochemicals. Additionally, the pharmaceutical and healthcare sectors are major consumers of fermentation chemicals, supporting the growth of the market. The competitive landscape is characterized by intense competition, research and development investments, strategic partnerships, and a focus on compliance with regulatory standards. However, challenges such as fluctuating raw material prices and stringent regulations pose constraints. Despite these challenges, the market continues to thrive due to the increasing emphasis on sustainable practices, technological advancements, and the expanding applications of fermentation chemicals across various sectors. As companies invest in innovation and collaboration, the global market is expected to witness continued growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 66.57 billion |
| Market size value in 2030 | USD 121.35 billion |
| Growth Rate | 6.9% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Fermentation Chemicals Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Fermentation Chemicals Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Fermentation Chemicals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Fermentation Chemicals Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Fermentation Chemicals Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Fermentation Chemicals Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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