Fermentation Chemicals
Market was USD 41,567.7 million in 2012 and is expected to
reach USD 60,123.9 million by 2019, growing at a CAGR of 5.4% from
2013 to 2019. The global demand for fermentation chemicals was 48,708.3 kilo
tons in 2012.
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Fermentation
chemicals are mainly employed as process initiators in the manufacturing of
wide variety of chemicals. Industrial applications market is the largest
application area for fermentation chemicals followed by the food and beverages
market. However, nutritional and pharmaceutical, plastics and fibers are fast
growing applications of fermentation chemicals and are expected to gain a
significant market share over the next six years. Fermentation chemicals are
mainly used as alcohols, enzymes and organic acids. The strong global demand
for alcohols is the major driver for the growing consumption of fermentation
chemicals. Fermentation chemicals market is expected to grow at a CAGR of 4.3%
from 2013 to 2019.
The industrial
applications segment dominates the demand for fermentation chemicals and
accounted for 47.1% of the global demand in 2012. Growing pharmaceuticals
market in the U.S. and rising consumption of alcohol across the globe were the
major growth drivers for fermentation chemicals. Another important market for
fermentation chemicals is food and beverages industry, which accounted for
20.4% share of the total fermentation chemicals volume consumed in 2012. The
growing demand for alcohols, enzymes and organic acids in the food and
beverages, nutritional and pharmaceutical industries is expected to drive the
global fermentation chemicals market in the next six years.
The global
fermentation chemicals market is dominated by North America, which
accounted for 33.9% of global volumes consumed in 2012. Growth of fermentation
chemicals market in North America is principally driven by the rising
consumption from the pharmaceutical and food and beverages industry in the
U.S. North America was followed by Asia Pacific with 27.1%
share in total volume consumption. The saturation in the North American and
European market has led the major player players to focus on the highly
attractive Asia Pacific market. The key players in the fermentation
chemicals market are Ajinomoto Company Incorporation, BASF SE, Dow Chemical
Company, Novozymes A/S, Cargill Incorporation, Evonik Industries and Du Pont
Danisco A/S among others.
Fermentation
Chemicals Market - Product Segment Analysis:
·
Alcohols
·
Enzymes
·
Organic Acids
·
Others
Fermentation
Chemicals Market - Application Segment Analysis:
·
Industrial Applications
·
Food and Beverages
·
Nutritional and Pharmaceutical
·
Plastics and Fibers
·
Others
Fermentation
Chemicals Market - Regional Analysis:
·
North America
·
Europe
·
Asia Pacific
·
Rest of the world
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