Fermentation Chemicals Market Share, Trend, Segmentation and Forecast to 2024

The ability of fermentation chemicals to accelerate the process for the preparation of various products and facilitating cost reduction is expected to remain a key driving factor for the global market.

The Global Fermentation Chemicals Market is expected to reach USD 81.14 billion by 2024, according to a new report by Grand View Research, Inc.

Favourable regulations proposed by European Commission and EPA promoting green chemistry are also expected to have a positive influence on the market growth. Increased consumer awareness regarding bio-based products has also benefitted the market growth.

Intermittent raw material supply is expected to remain a key challenge for market participants. Process complexity involved in fermentation chemical production also adds to the increased product cost. The high cost of these chemicals is expected to restrain the market growth.

Alcohol emerged as the leading product segment with demand share exceeding 55% in 2015. As alcoholic beverages are produced by fermenting grains, fruits, etc. there has been an increasing demand for fermentation chemicals.

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Organic acids are expected to witness the highest growth of 5.2% from 2016 to 2024. Increasing demand for amino acid both for human and animal consumption is expected to drive this segment over the forecast period.

Top Players of Fermentation Chemicals Market:

Key industry participants include BASF SE, Amano Enzyme Inc., The Dow Chemical Company, Cargill Inc., Archer Daniels Midland, DuPont Danisco A/S, Ajinomoto Company Incorporation, Evonik Industries etc.

Market Segmentation of Fermentation Chemicals Market:

The Global Fermentation Chemicals Market Segmented on the basis of Product and Application.

By Product:

    Organic acids
    Alcohols
    Enzymes

By Application:

    Plastics & Fibers
    Industrial
    Pharmaceutical & Nutritional
    Food & Beverages

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