Fermentation chemicals play a vital role as an initiator in the chemical reaction. Being used as a processor or catalyst in a reaction, it helps to speed the reaction. As a result of which, it is able to save time and cost of the reaction. The aim of the report is to analyze the present and projected future trends of global fermentation chemical market, as the demand of the product is expected to rise. The analysis provides an understanding of the market potential in various industry applications. The study is focusing on the opportunities of the emerging economies of the globe so that companies can strategically make region specific plans and gain competitive frame.
Fermentation chemicals are used as the most important raw material in alcohol industry. Ethanol, the major chemical required for the production of alcohol and alcoholic beverages is produced by fermentations. Therefore, rising demand for alcoholic beverages results in the growth of global fermentation chemical market. Moreover, other industries such as pharmaceutical, cosmetic, food and beverages industry need fermentation chemicals to run their production process. Hence, the growth of these industries in various geographical regions also drives the fermentation chemicals industry. High cost involved in the fermentation of lactic acid prevents its uses in the dairy industry. In addition, the fluctuation of production process in the fermentation of ethanol, bacteria, lactic acid also restraints the market growth. The production of eco friendly fermentation chemicals would create its application in the sectors such as biomass conversion.
Product Market Analysis
On the basis of product type, the fermentation chemical market is segmented into alcohols, enzymes, organic acids and others. Fermentation of alcohols such as ethanol is used in the production of alcoholic beverages. It is also used in bakeries. Therefore, this chemical is largely used in the alcohol and bakery industry.
Application Market Analysis:
On the basis of application, the fermentation chemical market is segmented into industrial applications, food and beverages, nutritional and pharmaceutical, plastics and fibers and others. Fermentation chemicals play a vital role in the production process of the pharmaceutical industry, especially the cultivation of microorganisms such as bacteria.
Geography Market Analysis
Based on geography, the market is segmented into North America, Europe, Asia Pacific and LAMEA. The demand for fermentation chemicals in North America is increasing due to the growth of its major application sectors such as Pharmaceutical and alcohol industry.
The major players dominating the global fermentation chemicals markets are Ajinomoto Company Incorporation, BASF SE, The Dow Chemical Company, AB Enzymes, Amano Enzyme Inc., Archer Daniels Midland Company, Cargill Incorporation, Du Pont Danisco A/S, Novozymes A/S, DSM, Evonik Industries AG Chr. Hansen A/S, etc. INVISTA and LanzaTech signed a research and development agreement aimed at the development of gas-fermentation process technology for the production of industrial chemicals from carbon dioxide and hydrogen gas feedstock.
HIGH LEVEL ANALYSIS
The market is growing swiftly in the global chemical market. The driving and restraining factors for this market are strategically dealt in this analysis and more emphasis is given towards its growth opportunities. The global market is analyzed using Porter’s five-force model, which assists the stakeholders to understand the bargaining power of buyers & suppliers, threat of new entrants and competitive rivalry. As the product is mostly used by industrial applications, the customer/buyer is highly educated and price sensitive. Therefore, the supplier has lower bargaining power, while the buyer enjoys high bargaining power. Due to the high cost involved in some of the important chemical fermentation, the threat of new entrant would be low. Additionally, being a fastest growing industry, the intensity of rivalry would be less in global fermentation chemical market. The study also includes a value chain analysis for better understanding of key players in the supply chain.
The global fermentation chemical market is segmented based on product type, application and geography.
MARKET BY TYPE:
MARKET BY END USER APPLICATION:
MARKET BY GEOGRAPHY:
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