Fermentation Chemicals Market Expected to Grow at 5.2% CAGR, Reaching $140.1B by 2034

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The fermentation chemicals market is projected to grow from $84.4B in 2024 to $140.1B in 2034, with a 5.2% CAGR, driving faster, cost-efficient fermentation processes.

According to projections, the fermentation chemical market is expected to grow from $84.4 billion in 2024 to $140.1 billion in 2034. According to Fact MR's most recent full study, the market is expected to grow at a compound annual growth rate (CAGR) of 5.2% between 2024 and 2034.

Acids or fermentation chemicals are essential for initiating different kinds of fermentation reactions. When utilized as a catalyst or accelerator in a reaction, they assist speed up the fermentation process chemically to save time. Fermentation chemicals are used by businesses to speed up reactions and reduce the cost of producing their final products.

Creating new fermentation-derived products, boosting sustainability, improving process efficiency, and looking into alternative feedstocks are some of the focus topics in this field. In this area, innovation is

Collaboration between industry and academics is driving innovation in this arena, enabling the creation of fermentation chemicals that are both environmentally benign and high-performing.

Laws and trade agreements are facilitating the import and export of fermentation chemicals. The seamless movement of fermentation chemicals among member nations has been facilitated by trade grants like the United States-Mexico-Canada Agreement (USMCA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

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About one-third of the world's sales of fermentation chemicals come from North America, however, East Asia is also seen as a profitable sector. Over the upcoming years, market participants will continue to see significant revenue growth from industrial, nutraceutical, and pharmaceutical applications.

Key Takeaways from the Fermentation Chemicals Market Study:

The global fermentation chemical market has been analyzed to expand at a CAGR of 5.2% and reach US$ 140.1 billion by the end of 2034.
The market in North America is projected to advance at a CAGR of 5.6% and offer an absolute opportunity of US$ 19.1 billion by 2034.
East Asia accounts for 21.8% of the global market share in 2024 and is expected to generate an absolute dollar opportunity of US$ 12.4 billion between 2024 and 2034.
Food & beverage applications are estimated to generate an absolute dollar opportunity US$ 10.6 billion between 2024 and 2034.
Sales of liquid fermentation chemicals are estimated at US$ 49.7 billion in 2024, which equals to 58.9% market share.

Leading Companies Fueling Innovation in the Market for Fermentation Chemicals:

News from the Fermentation Chemicals Industry:

Evonik Industries AG built the world's first industrial-scale rhamnolipids manufacturing facility in January 2022. Sugar fermentation is the process that yields rhamnolipids. Rhamnolipids are a gentle and environmentally friendly substitute that, because of their biodegradation, have good foaming properties.

In June 2022, BASF SE introduced a novel bio-based and biodegradable polyamide made from renewable feedstock and fermentation processes. Textiles, vehicles, and packaging are among the industries that use Polyamide 6.10.

In 2020, Cargill announced that it would expand its range of bio-based products to include a new lactic acid made by fermentation. This lactic acid is made using a special fermentation technique and finds use in the industrial, personal care, and culinary industries. It will satisfy the growing need for renewable and sustainable alternatives.

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type:

Alcohol Fermentation
Enzymes
Organic Acids
- Lactic Acid
- Citric Acid
- Gluconic Acid
- Acetic Acid
- Others
- Others (Amino Acids, etc.)

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form:

Liquid
Powder

Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application:

Industrial Application
Food & Beverages
Nutritional & Pharmaceutical
Plastics & Fibers
Others (Agriculture, etc.)

Country-wise Insights

From 2024 to 2034, the U.S. fermentation chemicals market is forecasted to grow at a compound annual growth rate (CAGR) of 5.5%, driven primarily by the country's robust biotechnology and pharmaceutical research sectors. During this period, the market is anticipated to generate an absolute dollar opportunity of US$ 16.4 billion.

Suppliers of fermentation chemicals to the U.S. are expecting increased demand for bio-based and sustainable products across various industries. As environmental sustainability becomes a top priority for both businesses and consumers, fermentation processes have gained popularity. In particular, suppliers to the food and beverage sector anticipate a surge in demand for organic acids such as citric and lactic acids, which are used as natural, clean-label preservatives. Additionally, the pharmaceutical industry is seeking more bioactive compounds and antibiotics derived from fermentation to replace synthetic alternatives.

Category-wise Insights

The Fact.MR analysis projects that the alcohol fermentation market will be worth US$ 43.5 billion by 2024.

Although alcohols are the most widely used fermentation chemicals, other kinds such organic acids and enzymes also hold significant market shares. These two categories are growing in popularity due to the increased need for food and drugs globally, which is anticipated to result in better fermentation chemicals down the road.

Citric acid is one of the most often used food acidulants in the production of processed cheese, jams, jellies, and other foods that contain sugar as a preservative. The global market for fermentation chemicals has been expanding as a result of the artificial flavoring that many soft drinks include together with organic acids.

Competitive Landscape

BASF SE, Archer Daniels Midland (ADM) Company, Cargill Incorporated, Dow Inc., AB Enzymes, Chr. Hansen /S, DSM, Ajinomoto Co., Inc., Novozymes A/S, Evonik Industries AG, Amano Enzyme, Inc., MicroBiopharm Japan Co., Ltd., Biocon, and INVISTA are the top companies in the fermentation chemical sector.

BASF SE unveiled a new bio-based and biodegradable polyamide in June 2022 that was produced using fermentation techniques and renewable feedstock. Polyamide 6.10 is designed for usage in packaging, automobiles, and textiles.
Cargill said in 2020 that it would expand its line of bio-based products to include a new lactic acid produced through fermentation. The culinary, personal care, and industrial sectors are the target markets for this lactic acid, which is produced using a unique fermentation process.

In its recently updated market report, Fact.MR has offered comprehensive insights into the pricing strategies of major fermentation chemical manufacturers across various regions, along with information on their sales growth, production capabilities, and potential technological advancements.