The global fermentation chemicals market size was evaluated at USD 79.84 billion in 2022 and is expected to hit around USD 134.55 billion by 2030 with a registered CAGR of 6.74% from 2022 to 2030.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
Chemicals used in fermentation are essential for starting the chemical process. processing or acting as a catalyst It facilitates reaction speed in a reaction. As a result, it can reduce both the reaction's time and cost. The most crucial raw material in the ethanol sector is fermentation chemicals. Fermentations result in the manufacture of ethanol, a key component needed for the synthesis of alcohol and alcoholic beverages. As a result, the global market for fermentation chemicals is expanding due to the increase in demand for alcoholic drinks. Additionally, other sectors need fermentation chemicals to conduct their production processes, including the pharmaceutical, cosmetic, food, and beverage industries. Therefore, the fermentation chemicals industry is also driven by the expansion of these businesses across diverse geographic regions. Lactic acid cannot be used in the dairy business because of the high expense involved in the fermentation process. Additionally, the variability of the production process for ethanol, bacteria, and lactic acid also inhibits market expansion. Environmentally friendly fermentation chemicals would find use in industries like the conversion of biomass.
The main ingredients in fermentation chemicals are vegetable feedstocks like corn, sugar, and starch. Many end-use industries prefer these products in fermentation processes as a result of the lack of synthetic feedstock. To lessen reliance on petrochemicals, major businesses have moved their attention toward bio-based raw resources. The main factors influencing the transition toward bio-based chemicals are rising crude oil prices, the degradability of petrochemical-based goods and rising worries about carbon emissions. The multistep industrial fermentation process used to produce goods like bioplastics, biofuels, polymers, and composites is quite complex. In bioreactors or fermenters, the conversion is carried out using enzymes or microorganisms like yeast and algae that may have undergone genetic modification.
Report Scope of the Fermentation Chemicals Market
|Market Size in 2022||USD 79.84 Billion|
|Market Size by 2030||USD 134.55 Billion|
|Growth Rate from 2022 to 2030||CAGR of 6.74%|
|Forecast Period||2022 to 2030|
Key Market Drivers
Key Market Challenges
Key Market Opportunities
On the basis of product, the organic acid segment has held the largest market share in 2021. Acids having pKa values of 3 (carboxylic) or above are considered organic acids (phenolic). The industrial generation of organic acids is now possible because of developments in fermentation technology. Foods are frequently preserved by adding organic acids such as fumaric acid, tartaric acid, and lactic acid. A significant contributing cause to their usage as a preservative has been their ability to prevent bacterial development. Demand for organic acids in processed meat and foods is anticipated to increase as consumers become more aware of the value of products with longer shelf lives.
The use of enzymes in a variety of chemical and industrial processes is the main factor driving enzyme use. Detergents use enzymes as an active component. Enzymes are also used in the pre-treatment of biomass for the creation of biofuels. The demand for enzymes as a catalyst is anticipated to rise in response to growing concerns about the depletion of oil supplies and uncertain fuel prices.
On the basis of application, the industrial applications segment accounted largest market share in 2021. Fermentation chemicals are frequently employed in industrial settings. The adoption of green chemistry and several regulations for commercial and industrial purposes has led to higher penetration. Industrial fermentation is the process of producing goods like ethanol, citric acid, and acetic acid by using microorganisms like bacteria, fungi, and eukaryotic cells. It is generally accepted that food additives originating from various items, such as vitamins, preservatives, antioxidants, and colors, are superior to those obtained from chemicals.
Another application area where diverse fermentation chemicals are widely consumed is food and beverages. It is anticipated that the increasing population will have a direct impact on consumption. Dairy products including kefir, yogurt, sour cream, and cheeses, as well as vitamins, proteins, and carotenoids are among the food items that are traditionally generated through the fermentation process.
On the basis of geography, the North America region contributed the highest revenue share in 2021. This is a result of the region's growing need for enzymes in a variety of applications involving paper, starch, and personal care. Growth in the business is expected to be greatly impacted by the rising demand for enzymes from a variety of industrial applications, including paper, personal care, and starch. By 2030, the North American fermentation chemical market might be worth more than 38.5 million USD. Due to rising individual awareness of personal care and cleanliness, cosmetics and toiletries have seen enormous demand in recent years. Environmental change has increased skin and dermatological issues, which has opened up a significant market opportunity for cosmetic applications. These fermented skin care solutions frequently include herbs, yeast, and fruits that provide anti-inflammatory and other relaxing properties for the skin.
From 2022 to 2030, demand from the Asia Pacific region is anticipated to grow at a 6.5% CAGR. Over the course of the projection period, it is anticipated that the expansion of important end-use sectors including food and beverage, pharmaceuticals, and polymers, notably in China and India, will continue to be a major driver of the regional market. Over the projected period, it is anticipated that rising per-capita middle-class disposable income levels and expansion in the food and beverage sector in nations like China and India will boost regional demand.
Key Market Players
Segments Covered in the Report
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client