Fermentation Chemicals Market is Forecasted to Reach $140.1 Billion by 2034, with a CAGR of 5.2% | Fact.MR Report

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Aug 01, 2024, 07:00 ET

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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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:

Liquid
Powder

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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