With the emergence and long-term Impact of COVID-19, Global Fermentation Chemicals Market to reach USD 119.65 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Fermentation Chemicals Market points towards a potential rise to USD 119.65 Billion by 2030. Fermentation chemicals encompass a broad spectrum of substances crucial for the fermentation process, a biological conversion method widely utilized in industries ranging from food and beverages to pharmaceuticals and biofuels. These chemicals play indispensable roles in fostering microbial growth, metabolism, and the production of desired end products. These chemicals play a pivotal role in fostering the growth and metabolic activity of microorganisms during fermentation, facilitating the production of a wide range of valuable products.
The Fermentation Chemicals market is expanding because of factors such as increasing demand for bio-based products, expanding pharmaceutical and biotechnology sectors and growth in food and beverage industry.
Geographically, the global Fermentation Chemicals market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 with largest market share. The increasing consumption of chemicals across various sectors, including pharmaceuticals, industrial, and food & beverages, has contributed to this trend. Moreover, the growing pharmaceutical industry in countries such as the U.S., Canada is expected to drive the market growth in the region.
Europe is expected to grow at a fastest CAGR during the forecast period. The regional landscape is marked by a growing number of manufacturers and suppliers entering the food & beverage, cosmetics, and pharmaceutical sectors. The notable presence of major cosmetic manufacturing companies in the region is projected to be a key driver for the demand for fermentation chemicals.
The global Fermentation Chemicals market is highly competitive owing to the presence of several key players such as BASF SE Novozymes DuPont Danisco Amano Enzymes USA Co., Ltd. AB Enzymes Chr. Hansen Holding A/S Evonik Industries AG Cargill, Incorporated Ajinomoto Co., Inc. Teva Pharmaceutical Industries Ltd., and others.
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Key findings of the study suggest:
- Global Fermentation Chemicals Market is anticipated to grow with a healthy growth rate of more than 6.90% over the forecast period 2023-2030.
- In the Product segment, Alcohols emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the increasing consumption of chemicals across various sectors, including pharmaceuticals, industrial, and food & beverages, has contributed to this trend.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Product:
- Alcohols
- Enzymes
- Organic Acids
- Other Products
By Application:
- Industrial Application
- Food & Beverages
- Nutritional And Pharmaceutical
- Plastics And Fibers
- Other Applications
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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