Fermentation Ingredients Market Overview:
The MRFR reports suggest that the global fermentation ingredients market will exhibit a healthy CAGR of over 5.12% during the review timeframe. The report further states that the market is anticipated to attain a size of over USD 94.19 billion by 2032.
The global Fermentation Ingredients Market has witnessed massive growth in recent times. The market's growth is primarily being driven by the growing application of fermentation ingredients by the food and beverage industry. Furthermore, factors such as growing chemical and pharmaceutical industries and the Increasing application of fermentation ingredients in personal care products are likely to catalyze the market's growth over the review timeframe. Moreover, the growing production of corn, tapioca, beet, and sugar cane is also projected to boost the market's growth.
Segmentations:
The global fermentation ingredients market has been fragmented into numerous segments based on feedstock, application, form, type, and region.
Based on type, the global market for fermentation ingredients is divided into industrial enzymes, antibiotics & vitamins, alcohol, organic acid, polymer, amino acid, and others.
By end-users, the fermentation ingredients market is split into pharmaceutical, bakery & confectionary, wineries and spirits, animal feed, dairy, breweries, and more.
Based on form, the global market for fermentation ingredients is divided into dry, liquid, and others.
Based on application, the fermentation ingredients market has been fragmented into pharmaceutical, chemical, food & beverages, animal feed, and others.
The market is split into corn, sugar beet, wheat, and others based on feedstock.
Regional Analysis:
The global fermentation ingredients market is studied across four major regions: Americas, Europe, Asia-Pacific, and the Rest-of-the-World (RoW).
As per the reports by MRFR, the American region is anticipated to lead the global fermentation ingredients market over the forecasted era. The regional market's growth is primarily being driven by the growing demand for fermentation ingredients for the F&B sector. The U.S. market is projected to record the highest CAGR of over 6.12%, given the increasing demand for fermentation ingredients and the availability of resources. Furthermore, the growing adoption by pharmaceutical and chemical companies is also projected to play a vital part in the regional market's growth.
The MRFR report states that the European regional market contributes over 22.78% across the global fermentation ingredients market. The regional market is projected to acquire a size of over USD 17.08 billion. The regional market's growth is being driven by the growing pharmaceutical and chemical industries across the region.
The Asia-Pacific regional market for fermentation ingredients is anticipated to record the highest growth over the forecasted era. The regional market's growth is being driven by the consumer awareness associated with health and wellness, demand for personal care products and high-quality food, increasing population, and rising disposable income of the middle-class population.
Competitive Landscape:
The global fermentation ingredients market has an intensely competitive landscape with worldwide players. The players in the market are making heavy investments in R&D activities to launch new products to the market. The leading global Key Fermentation Ingredients Market Players include Dow Chemical Co, Uquifa, Evonik Industries AG, Incorporated, E.I. du Pont de Nemours & Co., Novozymes A/S Cargill Archer-Daniels-Midland Co., and several others.
Recent Developments:
- January 2022 – Fooditive Group, The Dutch plant-based ingredient manufacturer, focuses on changing perception towards GMO foods with its innovative ingredients. After the success of Fooditive Group's upcycled natural sweetener, it has decided to grow its footprint in the animal-free dairy proteins sector.
- May 2021 – A leading synthetic biotechnology company, Amyris, Inc., announced an agreement with Ingredion Incorporated, a prominent global ingredient solutions provider to the food and beverage industry, for the exclusive licensing of Amyris's zero-calorie, nature-based, fermented Reb M sweetener.
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