USA, Rockville, MD, June 15, 2022 (GLOBE NEWSWIRE) — The global fermentation chemicals market is expected to experience a moderate growth rate of 5% during the forecast years of 2022 to 2032. The net worth of the fermentation chemicals market is expected to reach US$123.9 billion by 2032, from US$71.8 billion in 2021.
Fermentation chemicals are used in various chemical processes in sectors such as the alcohol, pharmaceutical, food and beverage, chemical, textile and rubber industries, among others.
Different types of vegetable or organic raw materials, including corn, sugar, and starch, are most commonly used to make these compounds. To reduce the global dependence on petrochemicals, major companies have shifted their focus to bio-based feedstocks, which is certainly a beneficial development for major fermentation chemicals trends and opportunities.
The global shift to bio-based chemicals is fueled by rising crude oil prices and growing concerns about carbon emissions. The degradability of petrochemical-based products is the major factor driving the adoption trends of fermentation chemicals. Organic acid, which has antibacterial and antifungal effects, is in great demand in the nutrition and animal feed industries. It releases hydrogen ions and further increases the demand for fermentation chemicals.
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Regulatory authorities such as the United States Environmental Protection Agency or EPA and the United States Department of Energy or DOE have imposed strict regulations on greenhouse gas (GHG) emissions from chemical plants. As a result, the attention of many industrial players has shifted towards the biological methods of producing chemicals or acids, creating a huge opportunity for the growth of the fermentation chemicals market simultaneously in the current and future days.
The unavailability of insufficient quantities of organic feedstock due to logistical or source constraints is expected to slow the Fermentation Chemicals Market Growth in a certain way. Since organic raw materials are not available, many end-use industries are opting to use synthetic substrates for chemical production processes, which raises greater concern about product market trends and forecasts. fermentation chemicals.
Key points to remember
• Over the next ten years, the global fermentation chemicals market is expected to grow at a rate of approximately US$47.9 billion in absolute dollars.
• Alcoholic fermentation is the top performing product category for fermentation chemicals market players, growing at a rate of 4.9% during the years 2022 to 2032 as forecast.
• The industrial applications segment is the most profitable segment for the fermentation chemicals market, with a projected CAGR of 5% over the forecast period.
• The Asia-Pacific region is the fastest growing market for products containing fermentation supplements, with a growth rate of 4.4% in the Chinese fermentation chemicals market.
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The name of some of the major players in the fermentation chemicals market include BASF SE, Archer Daniels Midland (ADM) Company, Cargill Incorporated, Dow Inc., AB Enzymes, Chr. Hansen /S, DSM, Ajinomoto Co., Inc., Novozymes A/S, Evonik Industries AG, Amano Enzyme, Inc., MicroBiopharm Japan Co., Ltd., TCI Chemicals (India) Pvt. Ltd, Biocon and INVISTA among others.
Recent Developments in the Global Fermentation Chemicals Market
• In January 2022, Evonik Industries AG, for example, opened a new manufacturing facility for rhamnolipids. Over the next decade, this industrial production facility of bio-based and fully biodegradable rhamnolipids is expected to increase the market share of fermentation chemicals in the cosmetics and toiletries segment.
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Fact.MR, in its new offering, presents an unbiased analysis of the fermentation chemicals market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals significant growth in Fermentation Chemicals Market analysis by Product Type (Alcoholic Fermentation, Enzymes, Organic Acids) by Form (Liquid Fermentation Chemicals and Powder Fermentation Chemicals) by Application and By region – Global market overview 2022 to 2032
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