Fermentation Ingredients Market is projected to grow at a CAGR over 5.08% during the period 2018- 2023

Market Definition:

Globally, the fermentation ingredients market is projected to reach USD 78.38 billion by 2023 with CAGR of 5.08%. Increasing application of fermentation ingredients by food and beverage industry is driving the market growth. America holds major market share followed by Asia Pacific region in the year 2017. America will witness higher growth rate during the forecast period due to increasing demand of fermentation ingredients for food and beverage application. Europe holds more than 20% of market share in 2017.  Growing chemical and pharmaceutical industries in Europe is supporting the market growth in Europe region.

Market Scenario:

U.S. is the fastest growing country in fermentation ingredient market which will witness the growth rate of 6.12% during forecast period. Increasing demand of fermentation ingredients and availability of resources are driving the market growth in U.S. and Brazil. Increasing application of fermentation ingredients in chemical and pharmaceutical companies is playing a key role in growth of the market in Germany. Fermentation ingredient market in China and India is growing at CAGR of 5.72% and 5.35% respectively due to increasing demand of organic acid and alcohol in Asia Pacific region.

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Key Players:

The leading market players in the Global Fermentation Ingredients market primarily are Archer-Daniels-Midland Co., The Dow Chemical Co, Cargill, Incorporated, E.I. du Pont de Nemours & Co., Evonik Industries AG, Novozymes A/S and Uquifa

Key players are focusing on expansion of their fermentation ingredient business. From six years, strategy of product launch and expansion of the fermentation ingredients business together holds around 50% of strategy share by key players. Acquisitions and agreement are two main factors which are contributing more than 40% of strategy share as it helping company to enhance their fermentation ingredients production capacity and to capture more market share across globe.

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Regional Analysis:

America holds major market share followed by Asia Pacific in the year 2017. America will witness higher growth rate during the forecast period due to increasing demand of fermentation ingredients for food and beverage application. U.S. is the fastest growing country in fermentation ingredient market which is growing at CAGR of 6.12% during forecast period. Increasing demand of fermentation ingredients and availability of resources are driving the market growth in U.S. and Brazil. Increasing application of fermentation ingredients in chemical and pharmaceutical companies is playing a key role in growth of the market in Germany

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