Fermentation Ingredients Market Overview, Product Specifications, Industry Analysis by 2023

 Scope of Fermentation Ingredients Market

Market Research Future (MRFR) studied the global fermentation ingredients market 2021 for the assessment period till 2023. According to MRFR study, the global fermentation ingredient market is expected to thrive at 5.08% and earn revenue of around USD 78.38 Bn by 2023.

The escalating production of corn, beet, sugar cane, and tapioca, is expected to play a major role to support the market rise in the assessment period. Other growth drivers of the fermenting ingredients market are the availability of eco-friendly production systems, increase in environmental concerns, and rise in awareness about health benefits of fermentation. On the flip side, variations in price and difficulty in accessing for affordable price can hinder the market growth. Problem with budget allocation and rise in health risk of fermentation ingredients can also pose a threat to the fermenting ingredients market growth.

Segmental Analysis of Fermentation Ingredients Market

The segment study of the fermentation ingredients market analysis is based on type, application, form, and feedstock.

The mode of type-based segments of the global fermentation ingredients market are antibiotics and vitamins, amino acid, alcohol, polymer, organic acid, industrial enzymes, and others. The segment of alcohol is expected to secure the largest market share in the review tenure. The global market of fermentation ingredients is studied for wineries and spirits, dairy, breweries, bakery & confectionary, pharmaceutical, and animal feed among other, under the alcohol segment. The segment of brewery and wineries is expected to secure the largest market share in the near future.

The form-based segments of the global fermentation ingredients market are liquid and dry among others.

The application-based segments of the global fermentation ingredients market are amino acid, polymer, alcohol, food & beverages, pharmaceutical, animal feed, and chemical among others. The surge in the utility of fermentation ingredients in the food and beverages industry due to increase in the demand for better quality of food with decent nutritional value can support the market upsurge. The increase in need for converting carbohydrates into organic acids and alcohol by using microorganism as fermenting ingredients under anaerobic conditions can support the market growth in the near future. The segment of F&B is expected to experience a gradual increase in demand by 2023.

The feedstock-based segments of the global fermentation ingredients market are wheat, corn, and sugar beet among others.

Regional Insights of Fermentation Ingredients Market

In North America, the fermentation ingredient market is expected to surge at a high growth pace owing to the rise in demand of fermentation ingredients across the expanding F&B sector. The U.S. is expected to rise at faster pace in the review tenure and expand at 6.12% CAGR by 2023. The upsurge of North America fermentation ingredient market can be attributed to the increase in the demand of fermentation ingredients among people and the easy availability of resources. Moreover, the rise in demand for fermentation ingredient by chemical and pharmaceutical companies can also support the market rise in the near future. By 2023, the fermentation ingredients market in EU is expected to 22.78% share of the entire market and is predicted to earn revenue of USD 17.08 Bn by 2023.

Competitive Dashboard of Fermentation Ingredients Market

The Dow Chemical Co, Uquifa, Archer-Daniels-Midland Co., E.I. du Pont de Nemours & Co., Novozymes A/S, Evonik Industries AG, Cargill, and Incorporated are some reputed companies in the global fermentation ingredients market that are listed by MRFR in the report.