The global fermentation chemicals market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Some of the key factors fostering the market growth include increasing manufacturing of antibiotics and steroids, rising demand for alcoholic beverages, growing demand from end user industries, rising environmental concerns and increasing number of industrial applications. However, factors such as complicated fermentation processes, side effects of using these chemicals and high costs are inhibiting the market growth. In addition, improved significance of bio-products are providing huge growth opportunity for the market.
Global fermentation chemicals market segmented on the basis of product, form, application and region.
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Alcohols Fermentation Chemicals Dominate the Global Fermentation Chemicals Market
Based on product, global fermentation chemicals market segmented into alcohols, enzymes, organic acids and others. Alcohols Fermentation Chemicals held considerable market share during predicted period. Alcoholic fermentation is a complex biochemical process during which yeasts convert sugars to ethanol, carbon dioxide, and other metabolic byproducts that contribute to the chemical composition and sensorial properties of the fermented foodstuffs. Alcoholic fermentation is the basis for the manufacturing of alcoholic beverages such as wine and beer. Control of fermentation is generally considered as a prerequisite to determine the quality of the final product.
Asia Pacific Leads the Global Fermentation Chemicals market
PBI’s global fermentation chemicals market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global fermentation chemicals market with considerable CAGR due to growth of key end-use industries in emerging countries. Also, increasing per-capita of middle-class disposable income levels together with growth in the food and beverages industry in countries are other factors responsible for the market growth. Moreover, North America accounted considerable market share during estimated period owing to strong presence of major industry participants and increasing demand for enzymes from various industrial applications in the region.
Strategic Acquisitions are the key strategies adopted by market players
Global Fermentation Chemicals market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For Instance, In April 2015, Cargill acquired OPX Biotechnologies’ fermentation technology. These technologies are used to produce bio-based chemicals from sugars for use in non-food applications such as lubricants, detergents, plastics, agrichemicals and personal care products.
Key player’s profiles in the report are AB Enzymes (Germany), Ajinomoto Co., Inc. (Japan), Amano Enzyme Inc. (Japan), Archer Daniels Midland Co. (U.S), BASF SE (Germany), Biocon (India), BioVectra (Canada), Cargill Inc. (U.S), Chr. Hansen A/S (Denmark), DowDuPont (U.S), DSM (Netherlands), Evonik Industries AG (Germany), Hanwha Group (South Korea) and Lonza (Switzerland).
Precision Business Insights (PBI) in its report titled “Global Fermentation Chemicals Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Organic Acids
o Food & Beverages
o Pharmaceutical & Nutritional
o Plastics & Fibers
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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