Fermentation Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Fermentation Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global fermentation chemicals market size reached US$ 74.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 104.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

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).

The growing F&B industry, along with rapid industrialization across the globe, represent as the key factors driving the growth of the market. Furthermore, the rising demand for alcoholic beverages is also providing a boost to the market growth. Fermented chemicals are primarily used in the production of various alcoholic beverages and food products, such as breads, cheese and pickles. Additionally, advancements in fermentation technologies have enabled large-scale production of several organic acids, such as lactic, tartaric and fumaric acid, thereby increasing the demand for fermentation chemicals across the globe. Moreover, growing consumer awareness regarding environment-friendly and bio-based raw materials is creating a positive outlook for the market growth. Industries are gradually shifting their focus toward fermentation chemicals as an alternative to their synthetic or petroleum-derived counterparts. An increasing product adoption for the manufacturing of steroids and antibiotics, along with extensive research and development (R&D) activities, are also projected to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fermentation chemicals market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, form and application.

Breakup by Product:

Alcohol
Enzymes
Organic Acids
Others

Breakup by Form:

Liquid
Powder

Breakup by Application:

Industrial Applications
Food and Beverages
Nutritional and Pharmaceuticals
Plastics and Fibers
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being BASF SE, AB Enzymes, Ajinomoto Co. Inc., Amano Enzymes USA, Co., Ltd., Archer Daniels Midland Company (ADM), Cargill Incorporated, Chr. Hansen A/S, Koninklijke DSM N.V., Evonik Industries AG, Novozymes A/S, The Dow Chemical Company, Koch Industries Inc. (Invista BV), etc.

Key Questions Answered in This Report

1. What was the size of the global fermentation chemicals market in 2022?
2. What is the expected growth rate of the global fermentation chemicals market during 2023-2028?
3. What are the key factors driving the global fermentation chemicals market?
4. What has been the impact of COVID-19 on the global fermentation chemicals market?
5. What is the breakup of the global fermentation chemicals market based on the product?
6. What is the breakup of the global fermentation chemicals market based on the application?
7. What are the key regions in the global fermentation chemicals market?
8. Who are the key players/companies in the global fermentation chemicals market?