Global Fermentation Chemicals Market Size, Trends, and Growth Opportunity, By Application (Plastics & Fibers and Industrial), By Product (Organic Acids and Alcohols), By Regional and Forecast to 2030
Report ID : IR1002054 | Industries : Chemicals & Materials | Published On :June 2024 | Page Count : 231
Global Fermentation Chemicals Market Size, Trends, and Growth Opportunity, By Application (Plastics & Fibers and Industrial), By Product (Organic Acids and Alcohols), By Regional and Forecast to 2030
Global Fermentation Chemicals Market
The Global Fermentation Chemicals Market was valued at USD 71.16 billion in 2022 and is expected to reach USD 134.55 billion by 2030, at a CAGR 8.29 % during the forecast period 2023- 2030.
Chemicals used in fermentation are essential for starting the chemical process. It aids in accelerating a reaction by acting as a processor or catalyst. As a result, it can reduce both the reaction's time and cost. As the demand for the product is anticipated to increase, the report's goal is to examine the current and anticipated future trends of the worldwide fermentation chemical market. Understanding the market potential for various industrial applications is provided by the analysis.
Market Drivers
Regulatory authorities' rigorous legislation in developed nations like Europe will be a major factor in the market growth of fermentation chemicals throughout the projection period. With their regulatory framework, organizations like the European Commission and EPA explicitly support the use of fermentation chemicals, which in turn can boost green chemistry. Rising end-user knowledge of the benefits of applying bio-based goods would further increase market demand which is driving the market growth.
Market Restraints
Lactic acid cannot be used in the dairy business due to the high expense of the fermentation process. Moreover, the expansion of the market for fermentation chemicals may be hampered by variations in the production method for ethanol, bacteria, and lactic acid. All these factors are anticipated to hamper the market growth.
Market Segmentation
Global Fermentation Chemicals Market is segmented into Application and Product.
Based on Application, the market is divided into Plastics & Fibers and Industrial
Based on Product, the market is classified into Organic Acids and Alcohols
Regional Analysis
The Global Fermentation Chemicals Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
North America contributed to the largest market share in the coming years. This is due to the increasing demand for enzymes, which is present in several applications involving personal care, paper, and starch. The increasing demand for enzymes from various industrial uses, including paper, personal care, and starch, is anticipated to have a significant impact on the business's ability to grow. Cosmetics and toiletries have experienced tremendous demand in recent years due to increased individual awareness of personal hygiene and cleanliness.
Additionally, for use in sectors like pharmaceutical, food & beverage, and others, there has also been an increase in demand for fermentation chemicals from Canada and Mexico. Because of the aforementioned factors, North America is therefore predicted to have the largest market share over the projection period.
Key Players
Various key players are discussed in the Global Fermentation Chemicals Market Report including: BASF SE, Cargill, Incorporated, Evonik Industries AG, DSM, and Lonza.
Market Taxonomy
By Application
Plastics & Fibers
Industrial
By Product
Organic Acids
Alcohols
By Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Global Fermentation Chemicals Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Fermentation Chemicals Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Fermentation Chemicals Market, By Application
5.1 Y-o-Y Growth Comparison, By Application
5.2 Global Fermentation Chemicals Market Share Analysis, By Application
5.3 Global Fermentation Chemicals Market Size and Forecast, By Application
5.3.1. Plastics & Fibers
5.3.2. Industrial
6 Global Fermentation Chemicals Market, By Product
6.1 Y-o-Y Growth Comparison, By Product
6.2 Global Fermentation Chemicals Market Share Analysis, By Product
6.3 Global Fermentation Chemicals Market Size and Forecast, By Product
6.3.1 Organic Acids
6.3.2 Alcohols
7 Global Fermentation Chemicals Market, By Region
7.1 Global Fermentation Chemicals Market Share Analysis, By Region
7.2 Global Fermentation Chemicals Market Size and Forecast, By Region
8 North America Global Fermentation Chemicals Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Global Fermentation Chemicals Market Share Analysis, By Application
8.3 North America Global Fermentation Chemicals Market Size and Forecast, By Product
8.4 North America Global Fermentation Chemicals Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Global Fermentation Chemicals Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Global Fermentation Chemicals Market Share Analysis, By Application
9.3 Europe Global Fermentation Chemicals Market Size and Forecast, By Product
9.4 Europe Global Fermentation Chemicals Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4. Rest of Europe
10 Asia Pacific Global Fermentation Chemicals Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Global Fermentation Chemicals Market Share Analysis, By Application
10.3 Asia Pacific Global Fermentation Chemicals Market Size and Forecast, By Product
10.4 Asia Pacific Global Fermentation Chemicals Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4. Rest of Asia Pacific
11 Latin America Global Fermentation Chemicals Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Global Fermentation Chemicals Market Share Analysis, By Application
11.3 Latin America Global Fermentation Chemicals Market Size and Forecast, By Product
11.4 Latin America Global Fermentation Chemicals Market Size and Forecast, Country
11.4.1. Brazil
11.4.2. Rest of Latin America
12 Middle East Global Fermentation Chemicals Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Global Fermentation Chemicals Market Share Analysis, By Application
12.3 Middle East Global Fermentation Chemicals Market Size and Forecast, By Product
12.4 Middle East Global Fermentation Chemicals Market Size and Forecast, By Country
12.4.1. Saudi Arabia
12.4.2. UAE
12.4.3. Egypt
15.4.4. Kuwait
12.4.5. South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 BASF SE
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2. Cargill
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3. Incorporated
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Evonik Industries AG
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 DSM
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Lonza
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies