Global Fermentation Ingredients Market is projected to reach USD 78.38 billion by the year 2023 with growth rate of 5.08%. There is huge demand for fermentation ingredients in the pharmaceutical and personal care products especially for antibiotics in the pharmaceutical sector and organic acids in the personal care products is driving the market growth from last few years. Key players in the America fermentation ingredients market are looking forward to increase their investment in product innovation in order to expand their operations to newer markets. These companies are also focusing on research and development activities to gain competitive edge in the market. Key players from developed countries are focusing on their expansion in Asia Pacific region due to availability of resources and huge opportunities to expand their fermentation ingredients business.
Alcohol (Ethanol, butanol, BDO and Acetone) and Polymer (Xanthan and PHA) fermentation ingredients holds major market share in the year 2017 as majority of fermentation ingredients is used for food and beverages and pharmaceutical application. Industrial enzymes is projected to reach at higher rate during the forecast period. Wheat and dextrose (made from corn) together holds major market share in the year 2017 as majority of wheat fermentation ingredients are produced from wheat and corn feedstock. Wheat feedstock is projected to reach at higher rate during the forecast period due to growing use of fermentation ingredients in alcohol segment.
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The major key players in Global Fermentation Ingredients market are
- Archer-Daniels-Midland Co
- The Dow Chemical Co
- Cargill, Incorporated
- E.I. du Pont de Nemours & Co
- Evonik Industries AG
- Novozymes A/S
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 in the world.
Access the market data and market information presented through more than 25 market data tables and 25 figures spread over 110 numbers of pages of the project report “Fermentation Ingredients Market – Forecast to 2023”
By Application Analysis-
Fermentation ingredients are majorly used in food and beverages industries to increase food quality and nutritional value of products. Fermentation ingredients also used to for converting carbohydrates into alcohol or organic acids using microorganism under anaerobic conditions. Globally, chemical along with food and beverages application holds more than 60% market share in the year 2017 as majority of fermentation ingredients are produced to make various chemical products in the Europe and America. Food and beverages application of fermentation ingredients is projected to reach at higher rate of during the forecast period. Pharmaceutical and animal feed together holds more than 30% of market share in the year 2017 due to increasing demand of fermentation ingredients in pharmaceutical sector.
America holds major market share followed by Asia Pacific 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. 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
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- Global Fermentation Ingredients market is segmented by type which includes Alcohol. Amino acid, Antibiotics & Vitamins, Polymer, Industrial Enzymes, Organic acid and Others
- Global Fermentation Ingredients market is segmented by form which includes dry, liquid and others
- Global Fermentation Ingredients market is segmented by application which includes Chemical, Food & beverages, Pharmaceutical, Animal Feed and Others
- Global Fermentation Ingredients market is segmented by feedstock which includes Sugar beet, Wheat, Corn and Other
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