Market Research Report
Fermentation Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Fermentation Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
Published: April 16, 2020
IMARC Services Private Limited
Content info: 104 Pages
Delivery time: 2-3 business days
The global fermentation chemicals market is currently witnessing a healthy growth. Fermentation chemicals are used to catalyze or initiate the chemical process of fermentation in various products. These chemicals are majorly manufactured using vegetable feedstock, such as sugar, corn and starch, and are used in the production of bioplastics, biofuels, polymers and composites, among other products. They are crucial for increasing the pace of the chemical reaction, which contributes to minimize the overall manufacturing cost, fermentation time and energy consumption. Owing to this, these chemicals find extensive applications across various industries, including plastic manufacturing, pharmaceuticals, nutraceuticals, and food and beverages (F&B).
The growing F&B industry, along with rapid industrialization across the globe, represent as the key factors driving the growth of the market. Furthermore, the rising demand for alcoholic beverages is also providing a boost to the market growth. Fermented chemicals are primarily used in the production of various alcoholic beverages and food products, such as breads, cheese and pickles. Additionally, advancements in fermentation technologies have enabled large-scale production of several organic acids, such as lactic, tartaric and fumaric acid, thereby increasing the demand for fermentation chemicals across the globe. Moreover, growing consumer awareness regarding environment-friendly and bio-based raw materials is creating a positive outlook for the market growth. Industries are gradually shifting their focus toward fermentation chemicals as an alternative to their synthetic or petroleum-derived counterparts. An increasing product adoption for the manufacturing of steroids and antibiotics, along with extensive research and development (R&D) activities, are also projected to drive the market further. Looking forward, IMARC Group expects the market to register a CAGR of around 5% during 2020-2025.