South Korea Microbial Fermentation Technology Market Size & Outlook
South Korea microbial fermentation technology market, 2018-2030 (US$M)
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South Korea microbial fermentation technology market highlights
- The South Korea microbial fermentation technology market generated a revenue of USD 875.3 million in 2023 and is expected to reach USD 1,476.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, cmos & cdmos was the largest revenue generating end use in 2023.
- CMOs & CDMOS is the most lucrative end use segment registering the fastest growth during the forecast period.
Microbial fermentation technology market data book summary
| Market revenue in 2023 | USD 875.3 million |
| Market revenue in 2030 | USD 1,476.9 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Cmos & cdmos |
| Fastest growing segment | CMOs & CDMOS |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biopharmaceutical Companies, CMOs & CDMOS, Academic And Research Organizations |
| Key market players worldwide | Danone SA, Roche Holding AG ADR, Koninklijke DSM NV, Lonza Group Ltd, Novonesis AS ADR, Biocon, BioVectra, TerraVia - Assets, BiOZEEN |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.6% of the global microbial fermentation technology market in 2023.
- Country-wise, Canada is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, India microbial fermentation technology market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 8,032.2 million by 2030.
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Microbial Fermentation Technology Market Scope
Microbial Fermentation Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea microbial fermentation technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to microbial fermentation technology market will help companies and investors design strategic landscapes.
Cmos & cdmos was the largest segment with a revenue share of 42.19% in 2023. Horizon Databook has segmented the South Korea microbial fermentation technology market based on biopharmaceutical companies, cmos & cdmos, academic and research organizations covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea is considered a lucrative market to invest in by many global players; the country is witnessing rapid growth in the biomanufacturing space. This has resulted in South Korean firms effectively incorporating microbial fermentation in their bioprocessing operations. Moreover, contract service providers, such as Samsung Biologics, have also expanded their businesses in this country.
For instance, in April 2022, Samsung Biologics announced full ownership of Samsung Bioepis and capacity expansion of an existing facility in Incheon, South Korea. Both initiatives were strategic moves toward meeting the growing demand for biologics as well as biosimilar development by the company.
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Our clientele includes a mix of microbial fermentation technology market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea microbial fermentation technology market , including forecasts for subscribers. This country databook contains high-level insights into South Korea microbial fermentation technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea microbial fermentation technology market size, by end use, 2018-2030 (US$M)
South Korea Microbial Fermentation Technology Market Outlook Share, 2023 & 2030 (US$M)
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