According to a new Industry report published by Credence Research “Fermentation Chemicals Industry – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022,” the fermentation chemicals Industry was valued at US$ 47.4 Bn in 2016, and is expected to reach US$ 66.0 Bn by 2022, expanding at a CAGR of 5.6% from 2016 to 2022.
The metabolic process which converts sugar into acids, alcohol and gases is known to be fermentation. Fermentation process helps to speed up the reaction coz its catalyst property. Therefore, it is used in a wide range of end-use industries. Fermentation process is used as a vital raw material in the alcohol industry. Alcohol is the major product obtained from fermentation process. Alcohol Industry is the largest Industry boosting the growth of global fermentation chemicals in the Industry. It is produced by fermenting grains, grapes, etc. which give end product as beer, wine, spirits, etc. Among the listed end products, beer is considered to be the largest selling alcohol. Rising demand for alcohol has therefore led to growth of global fermentation chemicals Industry in 2016.
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On the basis of product type, fermentation chemicals Industry is segmented into alcohol, enzymes, organic acid and others. Alcohol accounts for larger share of global fermentation chemicals Industry. Enzymes followed alcohol in terms of demand in the Industry. It accounted to be the second largest product segment of fermentation which is used in large number of end use industries. Organic acid are the third largest category in fermented products. They are widely used as food additives in the food industry. Products of fermentation are also used in other industries such as cosmetic and pharmaceutical industry. Cosmetic & pharmaceutical industry is the major factor driving the growth of global fermentation chemicals Industry and is expected to rise in the near future.
Industrial applications accounted to be the major application segment with more than 15% share of global fermentation chemicals Industry. Fermentation chemicals are used for various industrial applications ranging from plastic, chemical, rubber, biofuel, leather and textile among others. Consumption of enzymes is the largest in terms of both volume and value in the detergent industry. The uses of enzymes have better ability to remove stains and make the detergent environmentally safe. Food & beverages accounted as the second largest application of fermentation chemicals Industry in 2016. Fermentation chemicals are used as food additives widely in the food & beverages industry. Hence, high demand is reported for fermentation chemicals from the food & beverages industry. Pharmaceutical industry is the major factor driving the global fermentation chemicals Industry. Other applications such as plastic & fibers and others are also anticipated to boost Industry demand for fermentation chemicals during the forecast period from 2016 to 2022.
High demand from various end use industries
Cosmetic & pharmaceutical industry driving the growth of Industry
Asia Pacific is the fastest growing region for fermentation chemicals
Opportunities from increase in industrial applications
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