Reports And Data

Increasing demand from the alcohol industry is one of the significant factors estimated to drive market demand.

NEW YORK CITY, NEW YORK, UNITED STATES, July 21, 2022 /EINPresswire.com/ -- The global fermentation chemicals market is expected to reach USD 100.54 Billion by 2028, according to a new report by Reports and Data. Fermentation chemicals are used as a catalyst or process enhancing chemicals to speed up the process of fermentation.

Fermentation chemicals are used as the essential raw material in the alcohol industry. The fermentation process produces Ethanol, the main chemical used in the production of alcohol and alcoholic beverages. As a result, increasing demand for alcoholic beverages would play a significant role in driving market growth. Additionally, various other industries including cosmetic, pharmaceutical, and food and beverages industry require fermentation chemicals to maintain a smooth flow of the production process. Therefore, the growth of these industries across the globe, in turn, would be responsible for stimulating market demand.

The imposition of strict legislation by regulatory authorities in developed regions like Europe will play a vital role in fueling the market growth in the forecast period. Agencies comprising the European Commission and EPA categorically encourage green chemistry through their regulatory framework, which in turn can be supported by the application of fermentation chemicals.

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Top Key Players: BASF SE, Archer Daniels Midland Company, Cargill Inc., The Dow Chemical Company, AB Enzymes, Chr. Hansen A/S, DSM, Ajinomoto Co. Inc., Novozymes A/S, and Evonik Industries AG among others.

Further key findings from the report suggest

Further key findings from the report suggest
Alcohol fermentation dominated the market with over 50% of the market share in 2020 and is estimated to have a growth rate of 4.8% in the forecast period. Increase in use of alcohols in industrial applications is anticipated to boost the market demand.
Increase in alcohol consumption mainly in countries like China, Thailand, India, and Australia together with other markets such as Brazil, Mongolia, Montenegro, and the Caribbean is likely to propel the market growth during the forecast period. Alcohols are also used widely in the making of bread, pickles, and cheese.
Industrial applications contributed to the largest market share with more than 45% of the market share in 2020 and is estimated to have a CAGR of 5.2% in the forecast period.
The market dominance of industrial applications may be attributed to the application of chemicals for manufacturing products like ethanol, acetic acid, and citric acid. Several products derived are used in the form of additives into food as antioxidants, preservatives, colors, flavors, and vitamins, and are found to be more desirable than food additives produced chemically.
North America dominated the market with around 35% of the market share in 2020 and is expected to grow at a rate of 5.1% in the forecast period. Fermentation chemical market in North America is rising owing to the growth of the pharmaceutical and alcohol industry.

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Segments covered in the report:

Product Type Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Alcohol Fermentation
Ethanol
Others
Enzymes
Organic Acids
Lactic Acid
Citric Acid
Gluconic Acid
Acetic Acid
Others
Others

Form Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Liquid
Powder

Applications Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)

Industrial Applications
Food & Beverages
Nutritional & Pharmaceuticals
Plastics & Fibers
Others

To know more about the report: https://www.reportsanddata.com/report-detail/fermentation-chemicals-market

Regional Outlook (Revenue, USD Billion; 2018-2028)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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