Latest Fermentation Chemicals Market Share, Demand And Growth Analysis, Forecast 2017 To 2022 – by Credence Research
According to a new market report published by Credence
Research “Fermentation Chemicals Market -
Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 -
2022,” the fermentation chemicals market 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.
Browse the full Fermentation
Chemicals Market (Alcohols, Enzymes, Organic Acid, Others) for Industrial Applications,
Food & Beverages, Pharmaceuticals, Plastic & Fibers, and Other
Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast
2015 – 2022 report at http://www.credenceresearch.com/report/fermentation-chemicals-market
Market Insights
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 market is the largest market boosting
the growth of global fermentation chemicals in the market. 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 market in 2016.
On the basis of product type,
fermentation chemicals market is segmented into alcohol, enzymes, organic acid
and others. Alcohol accounts for larger share of global fermentation chemicals
market. Enzymes followed alcohol in terms of demand in the market. 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 market and
is expected to rise in the near future.
Competitive Insights
Industrial applications accounted to
be the major application segment with more than 15% share of global
fermentation chemicals market. 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 market 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 market. Other applications such as plastic & fibers and others
are also anticipated to boost market demand for fermentation chemicals during
the forecast period from 2016 to 2022.
Key Trends
·
High demand from various end use
industries
·
Cosmetic & pharmaceutical
industry driving the growth of market
·
Asia Pacific is the fastest growing
region for fermentation chemicals
·
Opportunities from increase in
industrial applications
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