Market Insights:
Fermentation
chemicals play a vital role in chemical reactions. They act as an initiator or
catalyst in chemical reactions. The application of fermentation chemicals in
the production processes in end-use industries, such as pharmaceutical, food
and beverage, and cosmetics, helps to save time and production cost. The
fermentation chemicals comprise sugar, starch, corn, and other vegetable
feedstocks. The growing preference for organic feedstocks over synthetic
feedstocks by major manufacturers in the fermentation processes is expected to
be the major factor driving the growth of the global fermentation chemicals
market. The growing awareness among consumers regarding organic food
consumption has urged major food manufacturing companies to shift towards
bio-based raw materials, which is also expected to fuel the growth of the
market during the forecast period.
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Segment
Analysis:
The global
fermentation chemicals market is segmented based on product type and
application. By product type, the global market has been segmented into
alcohols & ketones, amino acids, industrial enzymes, organic acids, and
others. Alcohols & ketones consist of ethanol, butanol, BDO, and acetone.
The segment accounted for a major share of over 30% of the global market in
2018 and is expected to follow the trend during the forecast period. Alcohols
are majorly used in the production of various food, such as bread and pickles,
as well as beverages. The increase in consumption of alcoholic beverages and
preference for heavy and on-the-go breakfast regime are factors expected to
boost the demand for fermentation chemicals during the forecast period. The use
of enzymes as active ingredients in detergents, industrial cleaners, and pre-treatment
of biofuels is also expected to boost the demand for the product. The growing
concerns regarding the depletion of oil reserves and inflating fuel prices are
expected to increase the demand for the product in biofuel production during
the forecast period.
Based on
application, the global market has been divided into food & beverages,
plastics & fibers, nutritional & pharmaceuticals, industrial
application, cosmetic & toiletry, and others. The plastic & fiber
segment accounted for the largest market share and is expected to maintain its
dominance throughout the forecast period. The growth is attributed to the
growing concern among government bodies and other agencies regarding
non-degradable plastics. The imposition of ban on single-use plastics by various
government bodies such as European Commission and ASTM International is
promoting the use of biodegradable plastics, which is expected to fuel the
growth of the global fermentation chemicals market. For instance, starch-based
plastics are majorly used in various end-use industries such as automotive,
agriculture, and packaging.
Competitive
Analysis
·
Koninklijke DSM N.V.
·
Cargill, Incorporated
·
BASF SE
·
Archer Daniels Midland Company
·
Ajinomoto Co., Inc
·
Chr. Hansen Holding A/S
·
Novozymes
·
DowDuPont Amano Enzyme Inc
·
AB Enzymes
·
Evonik Industries AG
·
EUROSANEX
·
INVISTA
Regional Analysis
The global Fermentation
Chemicals Market has been studied across five key regions, namely
Asia-Pacific, North America, Latin America, Europe, and the Middle East &
Africa. In terms of value, the North American market is estimated to hold more
than one-third of the global market share and be the dominant market throughout
the forecast period owing to the growing use of bio-based raw materials while
mitigating the rising price of oil and natural gas. In addition, the growing
demand for biodegradable plastics and ethanol fuel is expected to further boost
the demand for fermentation chemicals in the region. The Asia-Pacific market is
expected to exhibit the highest CAGR during the forecast period due to the
growing demand for fermented chemicals in pharmaceutical production coupled
with the growing adoption of organic food and beverages. In Europe, stringent
environmental regulations regarding the use of petroleum-based products have
increased the production of green bio-based products, which is expected to
boost the growth of the market for fermentation chemicals. The increasing
application of fermentation chemicals in the oil and gas well treatment
processes is expected to boost the growth of the Middle East & African
market during the forecast period.
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