Current Trends: Fermentation Chemicals Market Size & Share to Surpass $ 83.6 Billion by 2028 | Vantage Market Research
Vantage Market Research
7 min read
Vantage Market Research, The North Star for the Working World
WASHINGTON, Dec. 11, 2022 (GLOBE NEWSWIRE) -- The Global Fermentation Chemicals Market is valued at $ 62.1 Billion in 2021 and is projected to reach a value of $ 83.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.1% over the forecast period 2022-2028.
One of the most significant economic areas is the fermentation chemicals business, and consistent expansion is projected. However, despite the industry's turmoil, numerous things could affect its development or demise. This study assesses current trends and anticipated future changes to provide a complete insight into the sector. Additionally, it provides details on the significant industry players and their expansion strategies.
The report provides a thorough analysis of international producers and suppliers, as well as their current situation and prospects. It also goes into detail about the global drivers of the demand for fermentation chemicals, including rising investment requirements, developing technology, and new regulations.
According to Vantage Market Research, some of the significant variables are expected to spur the market for fermentation chemicals over the projected period. The rising demand from the pharmaceutical industry is one of the key drivers boosting the demand for fermentation chemicals.
The primary contributor to the global market for fermentation chemicals is their industrial use in producing biopolymers, biofuels, bioplastics, and composites. Therefore, demand for this multistep reaction-based market category is anticipated to rise from 2022 to 2032 at a CAGR of 5%.
Fermentation Chemicals Market Dynamics
Mounting Pharmaceutical Industry to Drive the Market
The pharmaceutical market in the United States is anticipated to expand, particularly in the country. Pharmaceutical companies are expected to conduct more research to develop new drugs by cultivating microbes. In addition, regulating agencies like the U.S. Department of Energy and Environmental Protection Agency have strict guidelines limiting greenhouse gas (GHG) emissions from the chemical industry (EPA). As a result, players in the sector began concentrating on using biological approaches for chemical synthesis. The market's growth will be fueled by this factor, which has raised the need for fermentation chemicals on a global scale.
Rising Need for Enzymes from Several Industriesto Support Market Growth
Expanding Industry Demand for Enzymes to Support Market Growth:
Growing demand for enzymes across different sectors is anticipated to boost market expansion. In the manufacturing of cosmetic products, enzymes are broadly utilized in the personal care and cosmetic industries. Demand for cosmetic and personal care products is driven by a growing sense of fashion, an awareness of personal cleanliness, and a desire to seem acceptable. Due to the increased need for enzymes, the market for fermentation chemicals is expanding.
Top Trends in Global Fermentation Chemicals Market
One trend predicted by Vantage Market Research (VMR) for the fermentation chemicals market is the explosive growth of the polymer industry due to rising disposable income and increasing consumer standards of living. These chemicals are frequently employed as polymer manufacturing additives.
Other trends that VMR forecasts will continue in the fermentation chemicals industry and will help drive market expansion include the expanding consumerism and shifting tendency towards high-performance polymers for various industrial applications.
Top Report Findings
Based on product, the alcohols segment dominates the fermentation chemicals market in terms of revenue. Throughout the projection period, growth is anticipated to be driven by rising alcohol consumption, particularly in Asia Pacific markets like India, China, Thailand, and Australia and other markets like Brazil, Mongolia, the Caribbean, and Montenegro.
The industrial sector dominated the market for fermentation chemicals based on application. Due to the frequent use of fermentation chemicals in industrial settings, this tendency is expected to continue. Industrial fermentation refers to using microorganisms, such as bacteria, fungi, and eukaryotic cells, to produce products, including citric acid, acetic acid, and ethanol.
Top 10 Players Generates the Majority of Global Fermentation Chemicals Market Revenue
According to the study, the top competitors in the market for fermentation chemicals are Amano Enzyme Inc., DSM Chemicals Company, AB Enzymes, Ajinomoto Company Incorporation, The Dow Chemical Company, BASF SE, Novozymes A/S, Evonik Industries, Cargill Inc., and Du Pont Danisco A/S. The fermentation chemicals market's major players are forming partnerships with significant manufacturing firms to safeguard their revenues because these chemicals are primarily used in industrial settings.
Due to the development of green chemistry and various legislation for industrial and commercial usage, the market penetration of fermentation chemicals industry has increased. Another vital strategy leading to wider market penetration is the prominent market players' acquisition of small regional fermentation chemical makers. In addition, manufacturers also take part in several actions to improve their foothold in the market.
Alcohol Segment in Fermentation Chemicals Market to Generate Over 52.5% Revenue
In the alcohol industry, fermentation chemicals are a crucial raw material. The primary chemical used in the creation of alcohol and alcoholic beverages is ethanol, which is produced during the fermentation process. Therefore, the market for fermentation chemicals would be significantly influenced by rising alcoholic beverage demand.
The main products made from fermentation chemicals are beer, wine, and spirits. Beer is one of these that are sold the most worldwide. The demand for alcohol is expected to rise during the forecast period due to an increase in the use of alcohol in pharmaceutical applications for the production of items, including anesthetics, antiseptics, ointments, medicines, and lotions, among others. Ethanol is widely used in many products, including paints and coatings, personal care items, alcoholic beverages, and as a fuel additive in gasoline.
Top Players in the Global Fermentation Chemicals Market
BASF SE (Germany)
Archer Daniels Midland Company (US)
Cargill Incorporated (US)
The Dow Chemical Company (US)
AB Enzymes (Germany)
Chr. Hansen A/S (Denmark)
DSM Chemicals Company (Netherlands)
Ajinomoto Co. Inc. (Japan)
Novozymes A/S (Denmark)
Evonik Industries AG (Germany)
Amano Enzymes Inc. (US)
Regional Analysis
North America dominates the market, and this pattern of dominance will remain for the duration of the projection. Increased demand for fermentation chemicals in this region is caused by factors such as the growing use of bio-based raw materials, rising demand for biodegradable plastics and ethanol fuel, and the mere existence of significant market competitors.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Fermentation Chemicals Market Forecast Report (2022-2028).
Scope of the Report:
Report Attributes
Details
Market Size in 2021
USD 62.1 Billion
Revenue Forecast by 2028
USD 83.6 Billion
CAGR
5.1 % from 2022 to 2028
Base Year
2021
Forecast Year
2022 to 2028
Key Players
BASF SE (Germany), Archer Daniels Midland Company (US), Cargill Incorporated (US), The Dow Chemical Company (US), AB Enzymes (Germany), Chr. Hansen A/S (Denmark), DSM Chemicals Company (Netherlands), Ajinomoto Co. Inc. (Japan), Novozymes A/S (Denmark), Evonik Industries AG (Germany), Amano Enzymes Inc. (US) and others.
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
