Fermentation Ingredients Market : Segmented by Type (Organic Acids, Amino Acids, Polymers, Vitamins, Industrial Enzymes, Biogas, And Antibiotics); By Application (Food &Beverages, Bio Fuel, Pharmaceuticals, Animal Feed, Paper, Personal Care Products, And Textile & Leather); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Fermentation Ingredients Market to surpass USD 74.75 billion by 2030 from USD 29.95 billion in 2020 at a CAGR of 9.7 % in the coming years, i.e., 2021-30.
Fermentation is a biological procedure that requires sterility and the use of cellular enzyme reactions rather than chemical reactions aided by an inanimate catalyst at a particular temperature and pressure. The food is stored for a longer period of time by adding the fermentation ingredients. The fermentation process can affect the product's quality and satisfaction. As a result, the food's consistency improves, making it easier to digest, more nourishing, and more delicious. Fermentation ingredients are used in a variety of sectors, including food and beverage, pharmaceuticals, and more.
Global Fermentation Ingredients Market is expected to project a notable CAGR of 9.7% in 2030.
Food and beverage products made with fermentation ingredients are becoming increasingly popular, driving market growth around the world. The market is also being influenced by the introduction of eco-friendly production systems from fermentation ingredient manufacturers and advanced technologies in the fermentation method. The production of sugar cane, beet, tapioca, and corn is increasing, which is driving the global fermentation ingredients market.
Amino acids segment to grow with the highest CAGR during 2020-30
Global Fermentation Ingredients market is segmented by type into organic acids, amino acids, polymers, vitamins, industrial enzymes, biogas, and antibiotics. Amino acids segment held the largest market share in the year 2020. The increasing demand in the animal feed additive and food and beverage industries is a major driver of the growth of segment. Polymers are expected to rise during the forecast period as well. The increasing use of fermented ingredients in personal care items is expected to propel this market further in the near future.
Food & beverages segment to grow with the highest CAGR during 2020-30
Global Fermentation Ingredients market is divided by application into food &beverages, bio fuel, pharmaceuticals, animal feed, paper, personal care products, and textile &leather. Over the forecast period, the food & beverages segment is projected to expand at the fastest pace. Food and drink, pharmaceuticals, and animal feed all use fermented ingredients, and this trend is expected to continue. Due to the increasing use of fermented ingredients to extend the shelf life of food products, food and beverages are currently and will likely remain the most dominant category.
Rising Global Alcohol Consumption and Surging Demand from End Users
Surging demand of Fermentation Ingredients from numerous end user industries is the key factor contributing to the market growth. One of the most important factors driving the industry's growth is rising global alcohol consumption. Beer is the most common alcoholic beverage, and it is made by fermenting various products such as rice and wheat, so increased beer consumption will eventually boost market growth.
Rising Environmental Concerns and Various Health Benefits
Furthermore, rising environmental consciousness, environmentally friendly manufacturing processes, and various health benefits of the commodity are driving demand. During the forecast period, the market is expected to be driven by the rising biopharmaceutical industry. Because of its high productivity, the biopharmaceutical industry is booming, and it's widely regarded as modern sciences most sophisticated and elegant achievement breakthrough.
Inconsistency of Raw Material and High Costs Associated with Market
The inconsistency of raw material supply is a major stumbling block to market growth in the long run. Another significant factor limiting market growth is the high cost of procuring raw materials. The market's development is also being hampered by the widespread use of biodegradable plastics made from sugar fermentation.
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Global Fermentation Ingredients market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Global Fermentation Ingredients in Asia Pacific held the largest market share in the year 2020. Asia Pacific is a significant market for fermentation ingredients, with China expected to rise at the fastest pace. In developing countries such as India, China, and Japan, rising population, rising middle-class disposable income, and their resulting demand for high-quality food and personal care items, as well as overall consumer knowledge of health and wellness, are driving up demand for quality fermented ingredients.
Global Fermentation Ingredients Market is further segmented by region into:
Fermentation Ingredients Market Segments:
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