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How Much Is the Fermentation Chemicals Market Worth in 2025 and Beyond?
The size of the fermentation chemicals market has been on a steady incline over the recent years. The market is projected to expand from $70.98 billion in 2024 to $74.51 billion in 2025 with a compound annual growth rate (CAGR) of 5.0%.
Several factors including government policies and incentives, growth in industrial biotechnology, the shift towards bio-based products, increase in pharmaceutical applications, and demand for biofuel production have stirred up the surge in the historical period.
The market for fermentation chemicals is projected to experience robust growth in the coming years, reaching a value of $97.23 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%. This increase during the forecast period can be credited to the escalating demand for biopharmaceuticals and bio-based products, the upsurge in biofuel production, and growth in the food and beverage industry as well as cosmetic and personal care applications.
Noteworthy trends for the forecast period encompass advancements in biopharmaceuticals, the demand for bio-based products, global economic factors, government guidelines and backing, priorities in research and development, and applications in cosmetics and personal care.
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What Are the Market Drivers Behind the Increasing Adoption of Fermentation Chemicals Industry?
The fermentation chemicals market is predicted to surge due to an increasing demand for both alcoholic and non-alcoholic beverages. Alcoholic beverages, which consist of ethanol, also known as alcohol, and non-alcoholic beverages, which include drinks with minimal or no alcohol content, contribute to this demand.
Fermentation chemicals play a vital part in hastening the anaerobic process, where yeasts convert carbohydrates into alcohol and molecules like glucose are broken down. Notably, a report from Statistics Canada, a national statistical body based in Canada, revealed in February 2023 that sales for alcoholic beverages in retail markets and liquor authority reached $26.1 billion in the fiscal year that concluded on March 31, 2022.
This figure represents a 2.4% increase from the preceding year. Additionally, wine sales recorded a 2.1% rise, reaching $8.1 billion between 2021 and 2022.
The overall value of alcohol sales in 2021-2022 comprised 34.9% beer, 31.3% wine, 25.8% spirits, and 8.0% ciders and coolers. Consequently, the escalating demand for both types of beverages is boosting the fermentation chemicals market.
What Are the Emerging Segments in the Global Fermentation Chemicals Market?
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
Subsegments:
1) By Alcohols And Ketones: Ethanol, Butanol, Acetone, Propanol
2) By Amino Acids: L-Glutamic Acid, L-Lysine, L-Threonine, Other Amino Acids
3) By Industrial Enzymes: Amylases, Proteases, Cellulases, Lipases
4) By Organic Acids: Lactic Acid, Citric Acid, Acetic Acid, Fumaric Acid
5) By Other Product Types: Biopolymers, Bio-based Solvents, Microbial Cell Factories, Other Specialty Chemicals
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What Key Market Trends Are Enabling Innovation in the Fermentation Chemicals Industry?
In the fermentation chemicals market, leading corporations have taken up the strategy of forming partnerships with an aim to develop functional chemicals via synthetic biology. These strategic collaborations involve businesses capitalizing on each other’s strengths and assets for the sake of reciprocal gains and victories.
For example, in July 2023, Sumitomo Chemical Co. Ltd., a firm based in Japan, allied with Ginkgo Bioworks, a biotech firm from the U.S.
This alliance is intended to augment the creation of functional chemicals using synthetic biology, thereby expanding on the ongoing collaborative efforts in biomanufacturing between the two entities. As a part of this novel venture, Ginkgo Bioworks will deploy its strain design technology in order to develop a microbial strain and a fermentation process conducive to the production of the intended molecule.
On the other hand, Sumitomo Chemical will put its efforts towards developing and magnifying the manufacturing procedure for commercial purposes. This modus operandi will facilitate large-scale production of functional chemicals through microbial fermentation, which will diminish dependence on fossil fuels and lower carbon emissions, thus promoting the objective of a carbon-neutral society.
Who Are the Top Companies in the Global Fermentation Chemicals Market by Revenue?
Major companies operating in the fermentation chemicals market include Ajinomoto Co. Inc., AB Enzymes GmbH, BASF SE, Amano Enzymes Inc., Archer Daniels Midland Company, Novozymes A/S, Cargill Incorporated, Evonik Industries AG, DuPont Danisco A/S, Koninklijke DSM N.V., Chr.
Hansen Holding A/S, LanzaTech Inc., MicroBiopharm Japan Co Ltd., Novasep Holding SAS, Kerry Group plc, Lallemand Inc., Amyris Inc., Codexis Inc., Lesaffre et Compagnie, Givaudan SA, NatureWorks LLC, Roquette Frères S.A., Sekisui Chemical Co. Ltd., Novamont S.p.A., Metabolic Explorer S.A., Corbion N.V., Raízen Energia S.A.
Which Region Is Projected to Capture the Highest CAGR in the Fermentation Chemicals Market?
North America was the largest region in the fermentation chemicals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the fermentation chemicals market during 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
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