High Demand for Organic Acids to Soar the Demand for Fermentation Chemicals Market

Fermentation chemicals are used to speed up or start the fermentation chemical process in various goods. These chemicals are used to manufacture polymers, biofuels, bioplastics, and composites, among other things, and are typically made from vegetable feedstock like corn, sugar, and starch. These are necessary for accelerating the chemical process, which reduces overall manufacturing costs, fermentation time, and energy consumption. High Demand for Organic Acids to Drive Fermentation Chemicals Market Organic acids have pKa values that range from 3 (carboxylic) to 9 (non-carboxylic) (phenolic). These can be further classified as itaconic acid, kojic acid, acetic acid, gluconic acid, 2- ketoglutaric acid, 5- ketoglutaric acid, α-ketoglutaric acid, malic acid, propionic acid, fumaric acid, lactic acid, and citric acid. Organic acids can now be produced on a large scale thanks to advancements in fermentation technology. Organic acids, including lactic acid, tartaric acid, and fumaric acid, are widely used as preservatives in foods due to their ability to inhibit bacterial growth and increase a product's shelf life. Formic acid and acetic acid are less reactive than mineral acids such as hydrochloric acid and hydrofluoric acid, which are expected to boost their application in oil & gas well stimulation treatments. Organic acids such as tartaric acid are gaining prominence in metal cleaning applications owing to their chelating properties with calcium and magnesium ions. Thus, increasing demand for organic acids is expected to result in an improved product penetration in major applications over the forecast period. Increasing Application in Meat Production Industry to Boost Demand for Fermentation Chemicals With the increasing population and growing economy in developing countries, the demand for meat is likely to witness significant growth globally. With changing eating habits in some regions of the world, meat consumption is expected to grow in the future. Based on consumption, meat consumption is divided into pork, poultry, sheep, and beef and veal. Pork and chicken meat contribute to a major share of the overall demand for meat in developing countries. Due to the growing demand for meat, pig farmers and poultry owners are concentrating more on the feed given to animals. Raising livestock requires a significant amount of natural feedstock and amino acids. Amino acids help enhance the quantity and quality of meat. The demand for amino acids is expected to grow in the global meat market as it is one of the major animal feed additives based on their nutritional values. These also help develop the muscle tissues of animals. Amino acids allow the efficient use of feedstock and hence the market is expected to grow with major players focusing on increasing the capacity of amino acid production to meet the rising demand globally, which, in turn, is expected to drive the growth of the fermentation chemicals market. Got questions about your regional growth of Fermentation Chemicals Market? Just drop us a line or call on +1 646 480 7505 Impact of COVID-19 The novel COVID-19 virus impacted almost all industries all over the world in different ways. Growing investments in R&D, biotechnology, and production from renewable sources are expected to drive the market growth and expand the industrial application areas of fermentation chemicals. However, production from lignocellulosic feedstock (which requires the fermentation of carbohydrates) has its own limitations, such as low overall conversion and relatively lesser applications of directly biosynthesized fermentation chemicals. Additionally, an overall dip in demand for biofuels and other chemicals with non-medical applications amid COVID-19 is impacted the market growth negatively in the industrial application market space. However, changing consumer eating habits and a lack of time to prepare and consume healthy food are causing consumers to divert their attention to processed or packaged foods, especially in the COVID-19 period, resulting in increased product demand. The convenience gained from processed food in terms of time savings and little work required during meal preparation is propelling the market forward. Key Highlights The fermentation chemicals market was valued at USD 65.06 billion in 2021 and is anticipated to generate USD 98.34 billion by 2030. The market is expected to register growth at a CAGR of 5.30% during the assessment period. The global fermentation chemicals market is segmented into products: alcohol, enzymes, organic acid, and others. The alcohol market is overtaken and expected to generate USD 30,118.57 million by 2030 at a CAGR of 4.9% during the forecast period. The fermentation chemicals market is segmented into industrial applications, food & beverages, nutritional & pharmaceuticals, plastics & fibers, and others. The food & beverages segment held the greatest share of the market, with an anticipated value of 25,693.64million by 2030 at a CAGR of 4.38% during the projection period.  Regional Insights The fermentation chemicals market is segmented into four regions: North America, Europe, Asia-Pacific, Middle East & Africa, and Central and South America. Asia-Pacific is dominating the global fermentation chemicals market. The Asia-Pacific fermentation chemicals market is predicted to be worth USD 26,301.95 million by 2030, increasing at a 5.14% CAGR. Rising geriatric population and increased investment in research & development activities for manufacturing advanced medicines are expected to drive the market growth in Asia-Pacific, particularly in Japan. Japan is the second-largest pharmaceutical player in the world. According to the Ministry of Health, Labour and Welfare (MHLW), Japanese pharmaceutical production stood at USD 105 billion in 2019, up by nearly 18% compared to 2018. Thus, the growing pharmaceutical industry in the country is expected to drive the product demand over the forecast period. Moreover, due to rising awareness regarding the environment, the growing demand for bioplastics is anticipated to augment the product demand. This provides lucrative opportunities for fermentation chemical manufacturers in the region. The consumption of fermentation chemicals in food & beverage, pharmaceutical, and industrial applications is more prevalent in developed countries. This trend is expected to continue and pave the way for market growth in North America over the coming years. North America fermentation chemicals market is characterized by the presence of food & beverage and pharmaceutical companies such as Pfizer, Inc., Abbott, Bristol-Myers Squibb Company, and Merck Sharp & Dohme Corp. Market News In January 2022, Evonik Industries AG opened a rhamnolipids production facility. This industrial manufacturing facility for bio-based and entirely biodegradable rhamnolipids is expected to boost market growth in cosmetics and toiletries.  Global Fermentation Chemicals Market: Segmentation By Product Alcohol Enzymes Organic acid   Others  By Application Industrial Application Food & Beverages Nutritional & Pharmaceuticals Plastics & Fibers Others By Region North America Europe Asia-Pacific Middle East & Africa Central and South America " Crucial Insights The Report Provides:" * Known and Unknown Adjacencies Influencing the Growth of Market * Explorable Revenue Sources * Customer Behaviour Analysis * Target Partners * Customized Geographical Data Based on Customers as well as Competitors * Analysis of Market Size and CAGR between the Forecast Periods View Full Report Buy This Report Now