The Fermentation Chemicals Market size was valued at USD 70.5 billion in 2022. It is expected to grow to USD 116.68 billion by 2030 and grow at a CAGR of 6.5% over the forecast period of 2023-2030.
The Fermentation Chemicals Market is driven by factors such as increasing demand for pharmaceutical products, growing awareness of the benefits of fermented food and beverages, and the rising need for sustainable industrial practices. However, the market also faces challenges, including stringent regulations, high production costs, and the need for continuous research and development.
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In the pharmaceutical sector, fermentation chemicals are utilized in the production of antibiotics, vaccines, and other medicinal products. The food and beverage industry also heavily relies on fermentation chemicals. They are used in the production of alcoholic beverages, such as beer and wine, as well as in the manufacturing of dairy products, bread, and pickles. Fermentation chemicals enhance the flavor, texture, and shelf life of these products, meeting the demands of consumers and ensuring their satisfaction. Furthermore, fermentation chemicals find extensive applications in industrial processes. They are used in the production of biofuels, bioplastics, and various chemicals used in the manufacturing sector. These chemicals offer a sustainable and eco-friendly alternative to traditional chemical production methods, contributing to the global efforts towards a greener future.
The industrial application segment dominated the fermentation chemical market with the highest revenue share of about 43.2% in 2022. The industrial sector's demand for fermentation chemicals has been steadily increasing due to the growing global population and the subsequent rise in consumer needs. Furthermore, advancements in technology have played a pivotal role in bolstering the industrial application segment's dominance. Innovations in fermentation techniques, such as solid-state fermentation and submerged fermentation, have enhanced productivity and efficiency, enabling industries to meet the escalating demand for their products.
Drivers
Increasing demand for biofuels
Rising awareness about the benefits of fermentation-based products
Fermentation, the biological process involves the breakdown of complex compounds by microorganisms, resulting in the production of various chemicals and substances. These fermentation-based products have found applications in diverse industries such as food and beverages, pharmaceuticals, and biofuels. One of the key reasons for the rising awareness about fermentation-based products is their potential to enhance food preservation and nutritional value. Fermented foods, such as yogurt, cheese, and sauerkraut, not only have an extended shelf life but also offer improved digestibility and increased nutrient content. This has led to a growing demand for such products among health-conscious consumers.
Furthermore, fermentation plays a crucial role in the production of pharmaceuticals and biopharmaceuticals. The process enables the synthesis of essential drugs, vaccines, and therapeutic proteins. These fermentation-derived pharmaceuticals have proven to be effective in treating various diseases and medical conditions, contributing to the overall growth of the pharmaceutical industry. Additionally, the utilization of fermentation in the production of biofuels has gained significant traction in recent years. Biofuels, such as ethanol and biodiesel, offer a sustainable alternative to fossil fuels, reducing greenhouse gas emissions and promoting environmental conservation. As a result, governments and industries worldwide are increasingly investing in fermentation-based biofuel production, driving the demand for fermentation chemicals.
Restrain
Volatility of raw material prices
Limited availability of raw materials
Opportunities
Increasing demand for specialty chemicals and the development of novel fermentation techniques
Increasing demand for specialty chemicals plays a crucial role in propelling the fermentation chemical market forward. Specialty chemicals are essential for enhancing product quality, improving manufacturing processes, and ensuring the overall efficiency of operations. As a result, the demand for specialty chemicals has been steadily growing, leading to a corresponding surge in the fermentation chemical market. Secondly, the development of novel fermentation techniques has also contributed significantly to the market's expansion. Fermentation is a process that involves the conversion of organic substances into useful products through the action of microorganisms. Traditionally, fermentation has been utilized in industries such as brewing and winemaking. However, recent advancements in biotechnology and genetic engineering have revolutionized fermentation techniques, enabling the production of a wide range of valuable chemicals and compounds. These innovative techniques have opened up new avenues for the application of fermentation in various industries, thereby driving the growth of the fermentation chemical market.
Challenges
Stringent regulatory environment associated with the fermentation chemicals
The Russia-Ukraine war has disrupted the supply chains of fermentation chemicals, leading to a shortage in the market. Both countries play a crucial role in the production and distribution of these chemicals, and the conflict has resulted in logistical challenges, delays, and increased costs. As a result, manufacturers and suppliers are struggling to meet the demand, causing potential setbacks for businesses relying on fermentation chemicals. The instability caused by the war has led to price volatility in the fermentation chemicals market. Fluctuations in currency exchange rates, trade restrictions, and increased transportation costs have all contributed to the unpredictability of prices. This poses a challenge for businesses that rely on stable pricing to plan their budgets and maintain profitability.
The recession has presented several challenges for the fermentation chemicals market. Firstly, companies have experienced a decrease in profitability due to reduced sales volumes. This has forced them to reevaluate their pricing strategies and explore cost-cutting measures to maintain competitiveness. Additionally, the uncertainty surrounding the economy has made it difficult for businesses to plan for the future, hindering investment in research and development.
By Product
Alcohols
Amino Acids
Organic Acids
Others
By Application
Industrial Application
Cosmetic & Toiletry
Plastics & Fibers
Food & Beverages
Nutritional & Pharmaceutical
Others
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North America dominated the fermentation chemical market with the highest revenue share of about 37% in 2022. This dominance is due to the increasing consumption of chemicals across various industries, including pharmaceuticals, industrial, and food & beverages. Moreover, the thriving pharmaceutical sector in countries like the United States, Mexico, and Canada is expected to further fuel the demand for fermentation chemicals in North America. Furthermore, the region's strong presence of major cosmetic manufacturing companies is anticipated to drive the demand for fermentation chemicals. These companies rely heavily on fermentation chemicals to enhance the quality and effectiveness of their products. As a result, the demand for fermentation chemicals is projected to witness significant growth in North America.
Asia Pacific is expected to grow with the highest CAGR of about 6.9% in the fermentation chemical market during the forecast period of 2023-2030. The expected growth in this region is attributed to the increasing purchasing power parity, high-income levels, and expanding populations in countries such as China and India. These factors have led to a surge in demand for fermentation chemicals. Moreover, the forecast period anticipates a significant rise in demand for fermentation chemicals across various industries, driven by the growing number of food and beverage start-ups, particularly in India.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The major key players are AB Enzymes, BASF SE, DuPont Danisco, Dow, Evonik Industries AG, Chr. Hansen Holding A/S, Amano Enzymes USA Co. Ltd., Cargill, Inc., ADM, Novozymes, Ajinomoto Co., Inc., and other key players mentioned in the final report.
In July 2022, Novozymes introduced Innova® Apex and Innova® Turbo to their Innova platform. These new additions are specifically designed to optimize fermentation times, allowing ethanol producers to achieve their production targets and business goals more effectively.
In Jan 2022, BASF expanded the production capacity of their enzyme plant in Ludwigshafen, Germany. This expansion has resulted in a significant increase in the number of feasible fermentations runs that can be conducted annually.
In Oct 2021, ADM, a global leader in nutrition and agricultural origination and processing, announced a major equity investment in Acies Bio. Acies Bio is a biotechnology company based in Slovenia that specializes in R&D and manufacturing services for synthetic biology and precision fermentation technologies. This investment will support the development and scaling of these technologies for applications in food, agriculture, and industry.
In August 2020, Chr. Hansen Holding A/S unveiled its 2025 Strategy, which focuses on becoming a differentiated bioscience company. The company aims to prioritize its microbial and fermentation technology platforms, with Food Cultures and enzymes, as well as Health and nutrition, at the core of its new strategy.
In March 2020, Evonik announced the development of an advanced collagen platform produced through fermentation-based processes. This innovative platform is free from any animal- or human-derived materials, making it a sustainable and ethical solution.
| Report Attributes | Details |
| Market Size in 2022 | US$ 70.5 Bn |
| Market Size by 2030 | US$ 116.68 Bn |
| CAGR | CAGR of 6.5% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | By Product (Alcohols, Amino Acids, Enzymes, Organic Acids, and Other) By Application (Industrial Application, Cosmetic & Toiletry, Plastics & Fibers, Food & Beverages, Nutritional & Pharmaceutical, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | AB Enzymes, BASF SE, DuPont Danisco, Dow, Evonik Industries AG, Chr. Hansen Holding A/S, Amano Enzymes USA Co. Ltd., Cargill, Inc., ADM, Novozymes, Ajinomoto Co., Inc. |
| Key Drivers | Increasing demand for biofuels Rising awareness about the benefits of fermentation-based products |
| Market Restraints | Volatility of raw material prices Limited availability of raw materials |
Ans. The Compound Annual Growth rate for the Fermentation Chemicals Market over the forecast period is 6.5%.
Ans. The projected market size for the Fermentation Chemicals Market is USD 116.68 billion by 2030.
Ans: Fluctuations in the prices of key raw materials, such as sugars, starches, and enzymes, directly impact the production costs of fermentation chemicals. These price fluctuations can disrupt the supply chain and affect the profitability of companies operating in this sector.
Ans: The alcohol product segment dominated the Fermentation Chemicals Market with the highest revenue share of about 55.7% in 2022.
Ans: Yes, you can ask for the customization as per your business requirement.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Fermentation Chemicals Market Segmentation, By Product
8.1 Alcohols
8.2 Amino Acids
8.3 Enzymes
8.4 Organic Acids
8.5 Others
9. Fermentation Chemicals Market Segmentation, By Application
9.1 Industrial Application
9.2 Cosmetic & Toiletry
9.3 Plastics & Fibers
9.4 Food & Beverages
9.5 Nutritional & Pharmaceutical
9.6 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Fermentation Chemicals Market by Country
10.2.2 North America Fermentation Chemicals Market by Product
10.2.3 North America Fermentation Chemicals Market by Application
10.2.4 USA
10.2.4.1 USA Fermentation Chemicals Market by Product
10.2.4.2 USA Fermentation Chemicals Market by Application
10.2.5 Canada
10.2.5.1 Canada Fermentation Chemicals Market by Product
10.2.5.2 Canada Fermentation Chemicals Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Fermentation Chemicals Market by Product
10.2.6.2 Mexico Fermentation Chemicals Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Fermentation Chemicals Market by Country
10.3.1.2 Eastern Europe Fermentation Chemicals Market by Product
10.3.1.3 Eastern Europe Fermentation Chemicals Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Fermentation Chemicals Market by Product
10.3.1.4.2 Poland Fermentation Chemicals Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Fermentation Chemicals Market by Product
10.3.1.5.2 Romania Fermentation Chemicals Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Fermentation Chemicals Market by Product
10.3.1.6.2 Hungary Fermentation Chemicals Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Fermentation Chemicals Market by Product
10.3.1.7.2 Turkey Fermentation Chemicals Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Fermentation Chemicals Market by Product
10.3.1.8.2 Rest of Eastern Europe Fermentation Chemicals Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Fermentation Chemicals Market by Country
10.3.2.2 Western Europe Fermentation Chemicals Market by Product
10.3.2.3 Western Europe Fermentation Chemicals Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Fermentation Chemicals Market by Product
10.3.2.4.2 Germany Fermentation Chemicals Market by Application
10.3.2.5 France
10.3.2.5.1 France Fermentation Chemicals Market by Product
10.3.2.5.2 France Fermentation Chemicals Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Fermentation Chemicals Market by Product
10.3.2.6.2 UK Fermentation Chemicals Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Fermentation Chemicals Market by Product
10.3.2.7.2 Italy Fermentation Chemicals Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Fermentation Chemicals Market by Product
10.3.2.8.2 Spain Fermentation Chemicals Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Fermentation Chemicals Market by Product
10.3.2.9.2 Netherlands Fermentation Chemicals Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Fermentation Chemicals Market by Product
10.3.2.10.2 Switzerland Fermentation Chemicals Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Fermentation Chemicals Market by Product
10.3.2.11.2 Austria Fermentation Chemicals Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Fermentation Chemicals Market by Product
10.3.2.12.2 Rest of Western Europe Fermentation Chemicals Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Fermentation Chemicals Market by Country
10.4.2 Asia Pacific Fermentation Chemicals Market by Product
10.4.3 Asia Pacific Fermentation Chemicals Market by Application
10.4.4 China
10.4.4.1 China Fermentation Chemicals Market by Product
10.4.4.2 China Fermentation Chemicals Market by Application
10.4.5 India
10.4.5.1 India Fermentation Chemicals Market by Product
10.4.5.2 India Fermentation Chemicals Market by Application
10.4.6 Japan
10.4.6.1 Japan Fermentation Chemicals Market by Product
10.4.6.2 Japan Fermentation Chemicals Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Fermentation Chemicals Market by Product
10.4.7.2 South Korea Fermentation Chemicals Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Fermentation Chemicals Market by Product
10.4.8.2 Vietnam Fermentation Chemicals Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Fermentation Chemicals Market by Product
10.4.9.2 Singapore Fermentation Chemicals Market by Application
10.4.10 Australia
10.4.10.1 Australia Fermentation Chemicals Market by Product
10.4.10.2 Australia Fermentation Chemicals Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Fermentation Chemicals Market by Product
10.4.11.2 Rest of Asia-Pacific Fermentation Chemicals Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Fermentation Chemicals Market by Country
10.5.1.2 Middle East Fermentation Chemicals Market by Product
10.5.1.3 Middle East Fermentation Chemicals Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Fermentation Chemicals Market by Product
10.5.1.4.2 UAE Fermentation Chemicals Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Fermentation Chemicals Market by Product
10.5.1.5.2 Egypt Fermentation Chemicals Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Fermentation Chemicals Market by Product
10.5.1.6.2 Saudi Arabia Fermentation Chemicals Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Fermentation Chemicals Market by Product
10.5.1.7.2 Qatar Fermentation Chemicals Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Fermentation Chemicals Market by Product
10.5.1.8.2 Rest of Middle East Fermentation Chemicals Market by Application
10.5.2 Africa
10.5.2.1 Africa Fermentation Chemicals Market by Country
10.5.2.2 Africa Fermentation Chemicals Market by Product
10.5.2.3 Africa Fermentation Chemicals Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Fermentation Chemicals Market by Product
10.5.2.4.2 Nigeria Fermentation Chemicals Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Fermentation Chemicals Market by Product
10.5.2.5.2 South Africa Fermentation Chemicals Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Fermentation Chemicals Market by Product
10.5.2.6.2 Rest of Africa Fermentation Chemicals Market by Application
10.6 Latin America
10.6.1 Latin America Fermentation Chemicals Market by Country
10.6.2 Latin America Fermentation Chemicals Market by Product
10.6.3 Latin America Fermentation Chemicals Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Fermentation Chemicals Market by Product
10.6.4.2 Brazil Fermentation Chemicals Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Fermentation Chemicals Market by Product
10.6.5.2 Argentina Fermentation Chemicals Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Fermentation Chemicals Market by Product
10.6.6.2 Colombia Fermentation Chemicals Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Fermentation Chemicals Market by Product
10.6.7.2 Rest of Latin America Fermentation Chemicals Market by Application
11 Company Profile
11.1 AB Enzymes
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/ Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 BASF SE
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/ Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 DuPont Danisco
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/ Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Dow
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/ Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Evonik Industries AG
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/ Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Chr. Hansen Holding A/S
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/ Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Amano Enzymes USA Co. Ltd.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/ Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Cargill, Inc.
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/ Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 ADM
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Novozymes
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/ Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Ajinomoto Co., Inc.
11.11.1 Company Overview
11.11.2 Financials
11.11.3 Product/ Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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