New York, United States, Jan. 11, 2023 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Fermentation Chemicals Market Size to grow from USD 60 billion in 2021 to USD 97 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.5% during the forecast period. The fermentation chemicals market is driven by fermentation chemicals' eco-friendliness and cost advantages over their synthetic or petroleum-derived competitors.
Key Insights
- The global fermentation chemicals market size was valued at USD 60 billion in 2021.
- The market is growing at a CAGR of 5.5% from 2022 to 2030
- The global fermentation chemicals market is expected to reach USD 97 billion by 2030
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View a detailed Table of Content here–
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Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report ”Global Fermentation Chemicals Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Alcohols, Organic Acids, Enzymes, and Other Product Types) By Application (Industrial, Food and Beverage, Pharmaceutical and Nutritional, Plastics and Fibers, and other applications) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) Analysis and Forecast 2022 – 2030.“ in detail along with the table of contents. https://www.sphericalinsights.com/reports/fermentation-chemicals-market
The organic acids segment to account for the largest market size during the forecast period
Based on the product type, the global fermentation chemicals market is categorized into Alcohol, Organic Acids, Enzymes, and Other Product Types. The organic acids segment to account for the largest market size during the forecast period. The industrial generation of organic acids is now possible because of developments in fermentation technology. Foods are frequently preserved by adding organic acids such as fumaric acid, tartaric acid, and lactic acid. A significant contributing cause to their usage as a preservative has been their ability to prevent bacterial development. Demand for organic acids in processed meat and foods is anticipated to increase as consumers become more aware of the value of products with longer shelf lives.
The industrial segment to hold a higher CAGR during the forecast period.
Based on the application, the fermentation chemicals market is categorized into Industrial, Food and Beverage, Pharmaceutical and Nutritional, Plastics and Fibers, and other applications. The industrial segment to hold a higher CAGR during the forecast period. Chemicals for fermentation are typically used in industry. Higher penetration has been attained as a result of the adoption of green chemistry and numerous rules for commercial and industrial uses. Industrial fermentation refers to the use of microorganisms, such as fungi, bacteria, and eukaryotic cells, in the production of products including ethanol, citric acid, and acetic acid. It has been discovered that naturally derived goods are preferable to chemically generated food additives in terms of antioxidants, preservatives, flavors, colors, and vitamins.
Report Scope
| Report Metric | Details |
| Market Size 2030 | USD 97 Billion |
| CAGR | 5.5% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Segments Covered | By Product Type, By Application, By Region, COVID-19 Impact Analysis |
| Report Coverage | Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
| Key Companies Profiled/Vendors | BASF SE, Cargill, Incorporated., Evonik Industries AG, DSM, and Lonza. |
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Market Segment
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global fermentation chemicals market based on the below-mentioned segments:
Global Fermentation Chemicals Market, By Product Type
- Alcohols
- Organic Acids
- Enzymes
- Other Product Types
Global Fermentation Chemicals Market, By End-user Industry
- Industrial
- Food and Beverage
- Pharmaceutical and Nutritional
- Plastics and Fibers
- Others
Regions Covered
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
List of Key Market Players:
- BASF SE
- Cargill
- Incorporated
- Evonik Industries AG
- DSM
- Lonza
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Market News
- On January 14, 2022, Evonik Industries AG opened a rhamnolipids production facility. This commercial production facility for bio-based, fully biodegradable rhamnolipids is anticipated to boo
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