The Fermentation ingredients market is propelling in the recent years. Market Research Future, a firm which specializes in market reports related to the Food and Beverage sector among others, recently forecasted in its report on Global Fermentation ingredients Market Research Report- Forecast to 2023 that the market will demonstrate CAGR 5.08% growth during the forecast period.
Fermentation is a biotic process which is mainly based on the use of cellular enzymes and sterility rather than inanimate catalyst which provoke chemical reactions in the material they are used in. The most significant factors influencing global fermentation ingredients market in past few years are firmness for the eco-friendly production system, the development of the global bioethanol industry, easy and fast production of bioactive biomolecules, increasing demand for alcohol and many more. Fermentation chemicals, especially alcohols are widely used in food & beverage industry. Fermented liquors and alcohols are used in multiple production processes of chemical industry. These are increasing demand for fermentation ingredients. Moreover, its health benefits are helping to raise the growth of global fermentation ingredient market. The growth in this market is largely owing to rising demand in various product segments and its uses.
Increasing awareness about application of fermentation ingredients in personal care and pharmaceutical products is further 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 of 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 globally.
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Major Key Players:
With the entry of industry players in the Fermentation ingredients segment, a trend of solid, volume- driven growth has been observed in the market. 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. These factors are projected to further boost the fermentation ingredients market.
The key players profiled in Fermentation ingredients are as Archer-Daniels-Midland Co. (U.S.), The Dow Chemical Co (U.S.), Cargill Incorporated (U.S.), E.I. du Pont de Nemours & Co. (U.S.), Evonik Industries AG (Germany), Novozymes A/S (Denmark) and Uquifa (Spain)
Latest Industry Updates:
Dec 2017 Polaris has partnered with Cargill in a European based collaboration involving the extraction and fermentation of DHA derived from the microalgae Schizochytrium.
Nov 2017 DuPont launches Robust Fermentation Solution SYNERXIA THRIVE. With the new DuPont SYNERXIA THRIVE Fermentation System, ethanol producers can now expect up to 4 percent higher ethanol yields in dry grind fuel alcohol facilities, when compared to conventional systems.
Nov 2017 DEINOVE is engaged in production of six raw materials in order to select the extract that will be marketed. The company is working in parallel on the optimization of fermentation performances for industrial production.
Nov 2017 DSM acquires Brazilian state-of-the-art fermentation facility from Amyris. This strategic move will help the company to grow in fermentation ingredients market.
The global Fermentation ingredients market has been divided into type, material, end-use and region.
On The Basis Of Type: Alcohol, Amino acid, Antibiotics & Vitamins, Polymer, Industrial Enzymes, Organic acid and Others
On The Basis Of Form: Dry, Liquid and Others
On The Basis Of Application: Chemical, Food & beverages, Pharmaceutical, Animal Feed and Others
On The Basis Of Feedstock: Sugar beet, Wheat, Corn and Other
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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The global Fermentation ingredients market is segmented into North America, Europe, APAC, and Rest of the World (RoW). North America holds major market share followed by APAC in the year 2017. North America will witness higher growth rate during the forecast period due to increasing demand of fermentation ingredients for food and beverage application. Europe is the secong largest market for fermentation ingredients 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 this region.
In the Asia-Pacific region, the high population-based countries such as India and China are expected to drive the market for fermented ingredients during the forecast period. There is an increase in demand for high-quality food and personal care products, which is accelerating the demand for quality fermented ingredients in this region. Moreover, growth in preferences of Asia-Pacific consumers toward products with health benefits is projected to pose a great demand for fermented ingredients in this region.
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