Fermentation Chemicals Market To Reach $120.9 Billion By 2030

Fermentation Chemicals Market Growth & Trends

The global fermentation chemicals market size is anticipated to reach USD 120.9 billion by 2030, registering a CAGR of 6.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to its increasing utilization in numerous end-use industries like food & beverages, energy, pharmaceuticals, and plastics.

The need for end-use products such as processed foods, nutritional supplements, and pharmaceuticals has increased in recent years, which has resulted in a significant increase in demand for fermentation chemicals. In addition, owing to the presence of a sizable number of producing firms and the growing trend of organic products, the market is estimated to witness high growth especially in Asia Pacific.

The BRICS nations i.e., Brazil, Russia, India, China, and South Africa have experienced rapid industrial growth, which has a direct effect on fermentation chemical demand. These markets saw rapid industrial output growth and continue to be among the industrial regions with the greatest rate of expansion worldwide. The availability of a big pool of skilled labor, advantageous foreign investment norms, and technological know-how are the main growth drivers for the manufacturing industry in these economies.

Stringent regulations established by the Environmental Protection Agency and the European Union are likely to positively influence the demand due to the product’s environment-friendliness. These regulations propose various practices to reduce the use of fossil fuels and greenhouse gas emissions. The manufacturing of fermentation chemicals through green chemistry is considered the most practical and efficient way of reducing greenhouse effects.

Key raw materials used to produce fermentation chemicals include sugarcane, beet, wheat, tapioca, and corn. These agro products are high in carbohydrate and starch contents. Out of the entire production, the major share is consumed by the food industry. With the growing population across the globe, especially in Asia Pacific, the demand for food is expected to grow in the coming years. These agro products are basic cereals and vegetables, which are consumed on a daily basis. There is a surge in demand for these products among consumers as fluctuations in the supply and demand of food may negatively impact market growth.

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Fermentation Chemicals Market Report Highlights

• Based on product, organic acids witnessed the fastest growth rate of more than 7.5%, owing to their increased usage in industrial fermentation process on account of their numerous advantages such as increased shelf life and ability to inhibit bacterial growth

• The plastic & fibers application segment witnessed the fastest CAGR of 7.8% due to the emerging need to produce plastics from biopolymers with a view to minimizing pollution. These plastics from biopolymers are manufactured by undertaking fermentation process of microalgae

• Asia Pacific region witnessed the fastest growth rate of 8.0% on account of development in the end-use application industries like personal care & cosmetics, food & beverage, and pharmaceuticals

• In countries like India, there has been a rapid increase in the number of food & beverages startup companies which is expected to create a lucrative opportunity for various fermentation chemicals in the industry

Fermentation Chemicals Market Segmentation

Grand View Research has segmented the global fermentation chemicals market report based on product, application, and region:

Fermentation Chemicals Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Alcohols

• Enzymes

• Organic Acids

• Other Products

Fermentation Chemicals Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Industrial Application

• Food & Beverages

• Nutritional & Pharmaceutical

• Plastics & Fibers

• Other Applications

Fermentation Chemicals Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Fermentation Chemicals Market

• BASF SE

• Novozymes

• DuPont Danisco

• DSM

• Amano Enzymes USA Co., Ltd.

• AB Enzymes

• Chr. Hansen Holding A/S

• Dow

• Evonik Industries AG

• Cargill, Incorporated

• Ajinomoto Co., Inc.

• ADM