Use of Fermentation Chemicals Will Continue to Remain High in
Industrial, Nutraceutical, and Pharmaceutical Applications
ROCKVILLE, Md., Aug. 1, 2024 /PRNewswire/ -- The
global Fermentation Chemicals Market is projected
to increase from a value of US$ 84.4
billion in 2024 to US$ 140.1
billion by 2034. Fact.MR's latest and extensive study
forecasts the market to expand at a CAGR of 5.2% from 2024 to
2034.
Fermentation chemicals or acids play a crucial role in starting
various types of fermentation reactions. They help expedite the
fermentation process chemically to save time when used as an
accelerator or catalyst in a reaction. Companies use fermentation
chemicals to shorten reaction times and lower the manufacturing
cost of their finished goods.
Focus areas in this space include developing new
fermentation-derived products, increasing sustainability,
optimizing process efficiency, and investigating substitute
feedstocks. Innovation in this field is being driven by
industry-academia collaboration, allowing for the development of
high-performance and environment-friendly fermentation
chemicals.
Importing and exporting fermentation chemicals is being made
easier by trade agreements and laws. Trade grants such as the
Comprehensive and Progressive Agreement for Trans-Pacific
Partnership (CPTPP) and the United
States-Mexico-Canada Agreement (USMCA) have made it easier
for member countries to seamlessly trade fermentation
chemicals.
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Report:
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North America accounts for
around one-third share of global sales of fermentation chemicals,
with East Asia also considered a
lucrative market. Industrial, nutraceutical and pharmaceutical
applications will continue bringing in high revenues for market
players over the coming years.
Key Takeaways from the Fermentation Chemicals
Market Study:
- The global fermentation chemical market has been analyzed to
expand at a CAGR of 5.2% and reach US$ 140.1 billion by the end of 2034.
- The market in North America is
projected to advance at a CAGR of 5.6% and offer an absolute
opportunity of US$ 19.1 billion by
2034.
- East Asia accounts for 21.8%
of the global market share in 2024 and is expected to generate an
absolute dollar opportunity of US$ 12.4
billion between 2024 and 2034.
- Food & beverage applications are estimated to generate an
absolute dollar opportunity US$ 10.6
billion between 2024 and 2034.
- Sales of liquid fermentation chemicals are estimated at
US$ 49.7 billion in 2024, which
equals to 58.9% market share.
"With the natural and environment-friendly trend expanding
worldwide, it will benefit the market for fermentation chemicals
over the coming years," says a Fact.MR analyst.
Leading Players Driving Innovation in the Fermentation
Chemicals Market:
Leading manufacturers of fermentation chemicals are BASF SE,
Archer Daniels Midland (ADM) Company, Cargill Incorporated, Dow
Inc., AB Enzymes, Chr. Hansen /S, DSM, Ajinomoto Co., Inc.,
Novozymes A/S, Evonik Industries AG, Amano Enzyme, Inc.,
MicroBiopharm Japan Co., Ltd., Biocon, and INVISTA.
Fermentation Chemicals Industry News:
In January 2022, Evonik Industries
AG constructed the first Rhamnolipids manufacturing plant in the
world on an industrial scale. The process that produces
Rhamnolipids is sugar fermentation. Rhamnolipids are a mild and
ecological alternative that provide good foaming qualities due to
their biodegradation.
BASF SE unveiled a new bio-based and biodegradable polyamide in
June 2022 that is produced using
fermentation techniques and renewable feedstock. Applications for
Polyamide 6.10 include packaging, automobiles, and textiles.
A novel lactic acid produced through fermentation will be added
to Cargill's line of bio-based goods, the company said in 2020.
This lactic acid is used in the culinary, personal care, and
industrial sectors and is produced using a unique fermentation
process. It will meet the increasing need for sustainable and
renewable substitutes.
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Global Market Analysis 2019 to 2023 and Forecast 2024 to
2034, By Product Type:
- Alcohol Fermentation
- Enzymes
- Organic Acids
- Lactic Acid
- Citric Acid
- Gluconic Acid
- Acetic Acid
- Others
- Others (Amino Acids, etc.)
Global Market Analysis 2019 to 2023 and Forecast 2024 to
2034, By Form:
Global Market Analysis 2019 to 2023 and Forecast 2024 to
2034, By Application:
- Industrial Application
- Food & Beverages
- Nutritional & Pharmaceutical
- Plastics & Fibers
- Others (Agriculture, etc.)
More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of
the global fermentation chemical market, presenting historical data
for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on product type
(alcohol fermentation, enzymes, organic acids, others (amino acids,
etc.)), form (liquid, powder), and application (industrial, food
& beverages, nutritional & pharmaceuticals, plastics &
fibers, others (agriculture, etc.)), across seven major seven
regions of the world (North
America, Latin America,
Western Europe, Eastern Europe, East
Asia, South Asia &
Pacific, and the Middle East &
Africa).
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