Market Insights:
The global market for fermentation
chemicals stood at USD 61.22 million in 2018 and is projected to exhibit a CAGR
of over 5.3% during the forecast period owing to the growing adoption of
organic food and beverages across the globe. Also, the demand for fermentation
chemicals is increased in the production of ethanol, which is used as an
oxygenate in reformulated gasoline. The restriction on the use of methyl
tert-butyl ether (MTBE) in North America and Europe is a major factor that has
increased the adoption of ethanol, which is expected to propel the demand for
fermentation chemicals during the forecast period.
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Competitive Analysis
·
Amano Enzyme Inc
·
AB Enzymes
·
Evonik Industries AG
·
EUROSANEX
·
Koninklijke DSM N.V.
·
Cargill, Incorporated
·
BASF SE
·
Archer Daniels Midland Company
·
Ajinomoto Co., Inc
·
Chr. Hansen Holding A/S
·
Novozymes
·
DowDuPont
·
INVISTA
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.
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verticals and wherever required we will be considering covid19 footprints for a
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