Chemicals

Fermentation Chemicals Market Competitive Landscape 2024-2033 – Major Players and Strategies

Overview and Scope

Fermentation chemicals are compounds that are used to accelerate or initiate the fermentation process, which is an anaerobic chemical reaction that breaks down molecules. Its key role is to speed the chemical reaction, which helps to reduce energy consumption, fermentation time, and overall costs.

Sizing and Forecast

The fermentation chemicals market size has grown strongly in recent years. It will grow from $66.93 billion in 2023 to $71.45 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to government policies and incentives, industrial biotechnology growth, shift towards bio-based products, rise in pharmaceutical applications, biofuel production demand..

The fermentation chemicals market size is expected to see strong growth in the next few years. It will grow to $92.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rise in biopharmaceuticals, bio-based products demand, expansion in biofuel production, food and beverage industry growth, cosmetics and personal care applications.. Major trends in the forecast period include biopharmaceutical advancements, bio-based products demand, global economic factors, government regulations and suppor, research and development focus, cosmetic and personal care applications..

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/fermentation-chemicals-global-market-report

Segmentation & Regional Insights

The fermentation chemicals market covered in this report is segmented –

1) By Product Type: Alcohols And Ketones, Amino Acids, Industrial Enzymes, Organic Acids, Other Product Types
2) By Form: Liquid, Powder
3) By Application: Food And Beverages, Plastics And Fibers, Nutritional And Pharmaceuticals, Industrial Application, Cosmetic And Toiletry, Other Applications

North America was the largest region in the fermentation chemicals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the fermentation chemicals market durng the forecast period. The regions covered in the fermentation chemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9063&type=smp

Major Driver Impacting Market Growth

The rising demand for alcohol and non-alcoholic beverages is expected to propel the fermentation chemicals market. Alcoholic beverages are drinks containing ethanol, commonly referred to as alcohol, whereas a non-alcoholic beverage refers to a drink with little or no alcohol. Yeasts turn carbohydrates into alcohol during the fermentation process. Thus, fermentation chemicals are employed to accelerate or initiate the process, which is an anaerobic process that degrades molecules such as glucose. For instance, in December 2021, according to Pattern Inc., a Utah-based commerce accelerator provider, non-alcoholic category demand was up by 52% in 2021 compared to 2020. Additionally, in 2020, according to Beverage Information Group data, a US-based data collection and reporting company, alcohol consumption in the United States grew by 45 million cases in 2020. Thus, rising demand for alcohol and non-alcoholic beverages is driving the growth of fermentation chemicals.

Key Industry Players

Major companies in the fermentation chemical market are focused on strategic collaboration with major manufacturing companies to strengthen their position in the market. Strategic collaborations empower companies to forge alliances with other firms possessing the necessary expertise to transform their envisioned concepts into tangible realities. In July 2023, Sumitomo Chemical Co., Ltd., a Japan-based chemical company, in collaboration with Ginkgo Bioworks, a US-based biotech company, announced plans to create the most advanced platform for biosecurity and cell programming, extend their biomanufacturing partnership, and create functional chemicals using synthetic biology. Sumitomo Chemical will create the manufacturing process and scale it up for commercialization, while Ginkgo Bioworks will use its strain design technology to create a microbial strain and associated fermentation process to produce the target molecule. Instead of using conventional chemical synthesis based on fossil fuels to produce functional chemicals in large quantities, the companies plan to produce products with a lower carbon footprint that help move society closer to becoming carbon neutral.

The fermentation chemicals market report table of contents includes:

1. Executive Summary

2. Fermentation Chemicals Market Characteristics

3. Fermentation Chemicals Market Trends And Strategies

4. Fermentation Chemicals Market – Macro Economic Scenario

5. Global Fermentation Chemicals Market Size and Growth
….

31. Global Fermentation Chemicals Market Competitive Benchmarking

32. Global Fermentation Chemicals Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Fermentation Chemicals Market

34. Fermentation Chemicals Market Future Outlook and Potential Analysis

35. Appendix

Explore the trending research reports from TBRC: