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  • Published On : Oct 2022
  • Code : CMI4268
  • Industry : Bulk Chemicals
  • Pages : 120
  • Formats :

Fermentation chemicals are used to initiate the chemical reactions in synthesize of various chemicals. They act as a catalyst or initiators to control the speed of the chemical reaction. These chemicals are widely used across food processing industry for the preparation of food products. Moreover, they are also used in the production of Vitamins.

Global fermentation chemicals market was valued at US$ 65000.00 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.6% during the forecast period (2022 to 2030).

Drivers

Strong demand for fermentation chemicals from the pharmaceutical industry is propelling market growth. These chemicals are used in the production of formulation such as anti-acne solutions, parenteral solutions, and ointments. Moreover, it is used in the manufacturing of calcium drugs used to treat calcium deficiency problems. Thus, rapid growth in the pharmaceutical industry is propelling the market growth of fermentation chemicals.

Growing research & development applications is propelling the market growth of the fermentation chemicals. All these chemicals act as a base for the many research and experiments in R&D centers. Hence, rise in the research and development applications are creating strong demand for fermentation chemicals, thus fueling the market growth.

In December 2019, the Covid-19 pandemic originated in Wuhan, Hubei Province, China. The World Health Organization (WHO) declared a public health emergency and high alert in early March 2020. This pandemic posed a serious threat to humans and economics. This unprecedented crisis has led to a rise in demand for patient engagement solutions and remote monitoring. Currently, most healthcare facilities are trying to expand homecare settings or other temporary setups that are intended to offer optimal care.

The state of urgency has led to the growing demand for ventilators and other personal protective equipment. Manufacturers, even from other industries, have focused their efforts on meeting the demand for such personal protective devices in contrast to their product portfolio. For the fermentation chemicals market, the government-imposed lockdown and barriers to cross-border transportation have highly affected the raw material supply chain resulting in their increased prices, ultimately increasing the cost of raw materials for manufacturers. Thus, manufacturers started sourcing from local raw material suppliers. This is expected to create high demand for fermentation chemicals coupled with an increased preference for organic feedstocks in the coming years.

Figure 1. Global Fermentation Chemicals Market Value Share (%), By Region, 2021

Fermentation Chemicals  | Coherent Market Insights

North America region dominated the global fermentation chemicals market in 2021, accounting for 34.0% share in terms of value, followed by Asia Pacific and Europe, respectively.

Market Restraints

High cost associated with the fermentation of lactic acids is restricting its use across the dairy industry. This factor is expected to hinder the market growth of fermentation chemicals over the forecast period.

The fluctuation of the production process in the fermentation of bacteria, lactic acid, and ethanol is hampering the demand for these chemicals. This factor is hindering the market growth of the fermentation chemicals in the near future.

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Fermentation Chemicals Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 65000 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 5.6% Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Europe, Asia Pacific, Rest of the World 
Segments covered:
  • By Type: Alcohols, Enzymes, Organic Acids, Others
  • By Application: Industrial Applications, Food & Beverages, Nutritional & Pharmaceuticals, Plastics & Fibers, and Others 
Companies covered:

Ajinomoto Company Corporation, AB Enzymes, BASF SE, Amano Enzymes Inc., Dow Chemicals, Archer Daniels Midland Company, Novozymes A/S, Cargill Incorporation, Evonik Industries AG, Du Pont Danisco A/S, and DSM 

Growth Drivers:
  • Growing demand for fermentation chemicals from the pharmaceutical industry
  • Growing research & development applications
Restraints & Challenges:
  • High cost associated with the fermentation of lactic acids 

Market Trends

Rapid growth in the polymer industry due to increasing disposable income and improving standard living of the consumers is expected to fuel the market growth of fermentation chemicals. These chemicals are widely used as additives in the production of polymers. Growing consumerism and shifting trend towards high-performance polymers for various industrial applications is again anticipated to propel the market growth of the fermentation chemicals.

Growing demand for enzymes from various industries is expected to augment the market growth. Enzymes are widely used across personal care and cosmetic industry in the production of cosmetic products. A growing sense of fashion coupled with the increasing awareness regarding the personal hygiene and aspire to look presentable is driving demand for cosmetic and personal care products. This is creating demand for enzymes, thereby fueling the market growth of the fermentation chemicals.

Figure 2. Global Fermentation Chemicals Market Value Share (%), By Type, 2021

Fermentation Chemicals  | Coherent Market Insights

The alcohols segment dominated the global fermentation chemicals market in 2021, accounting for 53.6% share in terms of value, followed by organic acids and enzymes segment respectively.

Recent Developments

  • In March 2018, Modern Meadow, announced a long term partnership with Evonik, a global provider of microbial fermentation, to scale up their fermentation and collagen production. Under the agreement, Evonik will be Modern Meadow’s worldwide development partner to industrialize and scale-up collagen production for use in the company’s bio leather materials technology.
  • On January 14, 2022, Evonik Industries AG has established a production plant for rhamnolipids. This industrial production plant for bio-based and fully biodegradable rhamnolipids which is projected to uplift market growth from cosmetic & toiletries applications.
  • On July 19, 2022, North America is expected to dominate the global fermentation chemicals market. The consumption of fermentation chemicals in food & beverage, pharmaceutical, and industrial applications is more prevalent in emerging countries.

Competitive Section

Major players operating in the global fermentation chemicals market include, Ajinomoto Company Incorporation, AB Enzymes, BASF SE, Amano Enzyme Inc., Dow Chemicals, Archer Daniels Midland Company, Novozymes A/S, Cargill Incorporation, Evonik Industries AG, Du Pont Danisco A/S, and DSM.

Fermentation chemicals are used to initiate the chemical reactions in synthesize of various chemicals. Fermentation chemicals are used to catalyze or initiate the chemical process of fermentation in various products. These chemicals are majorly manufactured using vegetable feedstock, such as sugar, corn and starch, and are used in the production of bioplastics, biofuels, polymers and composites, among other products. They are crucial for increasing the pace of the chemical reaction, which contributes to minimize the overall manufacturing cost, fermentation time and energy consumption. Owing to this, these chemicals find extensive applications across various industries, including plastic manufacturing, pharmaceuticals, nutraceuticals, and food and beverages (F&B).

Market Dynamics

Increasing use of fermentation chemicals for the manufacturing of organic acids such as citric acid, lactic acid, gluconic acid, and itaconic acid. Moreover, strong demand for fermentation chemicals from the pharmaceutical industry is propelling market growth. Fermentation chemicals are widely used as a preservatives and additives across food &beverage industry, which is expected to offer potential growth opportunities in the near future.

Key features of the study:

  • This report provides an in-depth analysis of global fermentation chemicals market size (US$ Million & Kilo Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2022 – 2030), considering 2021 s the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global fermentation chemicals market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Ajinomoto Company Corporation, AB Enzymes, BASF SE, Amano Enzymes Inc., Dow Chemicals, Archer Daniels Midland Company, Novozymes A/S, Cargill Incorporation, Evonik Industries AG, Du Pont Danisco A/S, and DSM
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, product up-gradation, market expansion, and marketing tactics
  • The global fermentation chemicals market report caters to various stakeholders in this industry including investors, suppliers, global fermentation chemicals manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global fermentation chemicals market.

Detailed Segmentation:

  • Global Fermentation Chemicals Market, By Type:
    • Alcohols
    • Enzymes
    • Organic Acids
    • Others
  • Global Fermentation Chemicals Market, By Application:
    • Industrial Application
    • Food & Beverages
    • Nutritional & Pharmaceuticals
    • Plastics & Fibers
    • Others
  • Global Fermentation Chemicals Market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
      • Spain
      • France
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • ASEAN
      • Australia
      • Rest of Asia Pacific
      • Rest of the World
  • Company Profiles
    • Ajinomoto Company Incorporation*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • AB Enzymes
    • BASF SE
    • Amano Enzyme Inc.
    • Dow Chemicals
    • Archer Daniels Midland Company
    • Novozymes A/S
    • Cargill Incorporation
    • Evonik Industries AG
    • Du Pont Danisco A/S
    • DSM

Frequently Asked Questions

Global fermentation chemicals market was valued at around US$ 65000.00 Million in 2021.
Growing research & development applications is propelling the market growth of the fermentation chemicals. 
Growing demand for enzymes for various industries is expected to augment the market growth.
High cost associated with the fermentation of lactic acids is restricting its use across the dairy industry.
Major players operating in the market includes Ajinomoto Company Corporation, AB Enzymes, BASF SE, Amano Enzymes Inc., Dow Chemicals, Archer Daniels Midland Company, Novozymes A/S, Cargill Incorporation, Evonik Industries AG, Du Pont Danisco A/S, and DSM. 
The market is estimated to grow at around 5.6% CAGR in the forecast period (2022-2030).

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