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.
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
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.
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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