Report Code: CMI41304

Published Date: February 2024

Pages: 320+

Category: Chemicals And Materials

Report Snapshot

CAGR: 7.1%
64.5B
2022
65.8B
2023
130.6B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • BASF SE
  • Novozymes A/S
  • Dow Chemical Company
  • Evonik Industries AG
  • Ajinomoto Co. Inc.
  • Others

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Reports Description

Global Fermentation Chemicals Market was valued at USD 65.8 Billion in 2023 and is expected to reach USD 130.6 Billion by 2032, at a CAGR of 7.1% during the forecast period 2023 – 2032.

Fermentation chemicals are a vast group of molecules used in the biological method of brewing. Fermentation is a process of metabolism that transforms carbohydrates to acids, gasses, or ethanol utilizing organisms that consist of yeast.

Fermentation Chemicals Market: Growth Factors

Growing demand for methanol and ethanol

Because of their critical roles in various industries, the fermentation chemicals market is significantly driven by high demand for methanol and ethanol. Methanol, generated from fermentation of carbon monoxide or syngas, is used to produce formaldehyde, the acid acetic, and methyl tert-butyl ether (MTBE), amongst other compounds.

Ethanol, a sugar fermentation product, is an important element in alcoholic drinks, fuel blends, medications, and cosmetics. Specific chemicals are required throughout the fermentation process to efficiently promote microbial development and metabolite synthesis.

As the need for methanol and ethanol grows in industries such as energy, medicines, and chemicals, consequently increases the need for fermentation chemicals such as vitamins and minerals, buffers, and catalysts to improve yields from production as well as process stability.

For instance, MMSA indicated that the implementation of methanol as an energy source for power production, heat generation, roadways, and marine transport is easy because the basis of current technology can still be used with minor adjustments.

Several renewable feedstocks, including commercial CO2, biogas, agricultural, and urban solid waste (MSW), provide a variety of starting points for the synthesis of low-carbon, possibly carbon-neutral methanol. Methanol developed through these sustainable approaches can subsequently be used to power a variety of carbon-free energy uses shortly.

Strong demand for fermentation chemicals from the pharmaceutical industry

The healthcare sector’s substantial need for fermentation chemicals stems principally from their vital function in the manufacturing of numerous medications via the method of fermentation.

Fermentation chemicals are essential elements in the development of organisms such as fungi, bacteria, and yeast, which are used to produce antimicrobial agents, vaccinations, insulin, and other key pharmaceuticals.

This need is driven by the healthcare sector’s ongoing search for novel medication discovery and manufacturing processes, with fermentation being the foundation.

Furthermore, fermenting has various benefits over conventional chemical manufacturing processes, including affordability, scaling, and long-term viability which is boosting its use.

Moreover, the expanding worldwide frequency of long-term medical conditions needs to continue the creation of novel medications, which sustains the need for fermentation compounds.

Fermentation Chemicals Market: Restraints

High costs associated with the fermentation of lactic acids

The substantial expenses related to lactic acid fermentation provide an important obstacle to the chemical fermentation industry. Fermentation methods need specific machinery, raw ingredients, and demanding quality control systems, all of which add to higher manufacturing costs.

Furthermore, the process of fermentation of lactic acid frequently requires exact temperatures, pH levels, and nutritional circumstances, which raises operating expenses. These high costs may dissuade investors and companies from entering the marketplace or increasing their production capacity.

Moreover, the price volatility experienced by upstream businesses, such as food, medicines, and bioplastics, restricts the market’s development potential, since they may seek less expensive alternatives.

To address these hurdles, innovations in brewing technology, optimization of processes, and economics from scale are required to bring reduce manufacturing expenses and manufacture lactic acid.

Fermentation Chemicals Market: Opportunities

Increasing demand for sustainable and eco-friendly products

The growing desire for environmentally friendly and sustainable goods is a crucial driver of the fermentation chemical market for a variety of reasons.  Fermentation methods frequently use renewable materials, that include crop residue or organic waste streams, which align with sustainability objectives.

Furthermore, fermentation-based manufacturing processes often produce less hazardous byproducts and use fewer resources than classic chemical synthesis pathways, adding to environmental tolerance.

Customers are becoming more aware of the ecological impact of the things they buy, resulting in a preference for products produced utilizing sustainable processes. As a result, companies across several sectors, such as food and beverages, pharmaceuticals, and beauty products, are using fermentation-based methods to fulfil this need.

For instance, Renewable methanol is gaining popularity as a means to reduce CO2 emissions and limit the global temperature rise to 1.5°C. The goal is to achieve net carbon neutrality in all areas of economic activity by mid-century.

Low-emission alcohol has the potential to significantly reduce carbon dioxide emissions in industries with limited alternatives, such as the chemical industry and transportation. Bio-methanol may be produced from streams of waste from various industrial operations, such as black liquor.

Global Fermentation Chemicals Market 2023–2032 (By Type)

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Fermentation Chemicals Market: Segmentation Analysis

Global Fermentation Chemicals market is segmented by type, application, and region.  Based on type, the market is classified into alcohol & ketones, amino acids, industrial enzymes, organic acids, and others.

Alcohol and ketones dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032.  Alcohol and ketones are important drivers of the chemical for the fermentation market owing to their use in a variety of industrial processes.

Ethanol, a form of alcohol, is a byproduct of fermentation that is widely employed in drinks, medications, and fuel generation. Furthermore, ketones such as acetone and butanone are used as solvents and substrates in chemical synthesis, medicines, and food preparation.

They are created by fermented methods or chemical transformation of fermentation-derived products, which expands the market. The increased need for bio-based chemicals and energy from alternative sources highlights the relevance of fermentation chemicals, particularly alcohols and ketones.

Its numerous uses and ecologically friendly nature render them popular alternatives, boosting market growth across a wide range of industries.

Based on application, the market is classified into industrial applications, food and beverages, nutritional and pharmaceutical, plastics and fibers and others. The industrial applications segment dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032.

Fermentation chemicals, which are generated from microbiological processes of fermentation, have several applications in sectors that include food and beverage, medicines, agriculture, and biofuels.

Fermentation chemicals are used in the food and beverage sector to produce a variety of items such as alcoholic drinks, dairy products, baked foods, and sauces. For example, ethanol, a crucial fermentation product, is utilized as a biofuel component as well as to make alcoholic drinks.

Furthermore, organic acids that are created during fermentation, such as citric acid and lactic acid, operate as preservatives, taste enhancers, and pH controllers in food items. Fermentation chemicals are also useful in the agricultural sector, where they are used to produce biological fertilizers and biological pesticides as well as feed for animals’ additives and growth boosters.

Furthermore, fermentation-derived polymers that decompose provide sustainable packaging materials while minimizing environmental effects.

Moreover, fermentation chemicals play an important part in the biofuel business, where they are used to produce ethanol, biodiesel, and biogas, helping to move towards sources of clean energy and reduce reliance on fossil fuels.

In conclusion, fermentation chemicals’ many commercial applications highlight their relevance in promoting creativity, environmental responsibility, and economic expansion across different industries, hence boosting the expansion of the chemical fermentation market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 65.8 Billion
Projected Market Size in 2032 USD 130.6 Billion
Market Size in 2022 USD 64.5 Billion
CAGR Growth Rate 7.1% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Type, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Fermentation Chemicals Market: Regional Analysis

By region, Fermentation Chemicals market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Fermentation Chemicals market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032.

The Asia-Pacific region’s rapidly rising population and growing urbanization have raised the need for a variety of fermentation-derived goods, including food and drinks, medicines, and chemical products for industry. The growing customer base drives the need for fermentation chemicals.

Furthermore, Asia-Pacific nations have a plentiful supply of materials that are appropriate for fermentation, such as agricultural leftovers, sugar cane, and different starch resources. The accessibility of feedstock at reasonable costs drives the creation of fermenting plants, hence supporting market expansion.

Moreover, authorities in many Asia-Pacific countries are actively pushing industrial growth and creating attractive investment conditions, luring international corporations to establish manufacturing operations in the area.

Furthermore, increasing knowledge of sustainable practices and the environmentally beneficial nature of fermentation procedures is consistent with global trends, boosting market expansion in the area.

In summary, the Asia-Pacific region’s mix of rising demand from consumers, accessible feedstock, favourable regulatory settings, and environmental measures places it as a major driver in the worldwide chemical fermentation market.

Furthermore, the abundance of agricultural products that include sugarcane, maize, cassava, and rice in countries such as India, Thailand, China, and Indonesia renders the Asia-Pacific area a desirable location for fermentation-based companies. This assures a consistent and inexpensive supply network for fermented feedstocks, which reduces manufacturing expenses and boosts the market’s expansion.

Global Fermentation Chemicals Market 2023–2032 (By Billion)

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Fermentation Chemicals Market: Recent Developments

  • In October 2023, BASF SE disclosed its intention to build an entirely new fermentation plant that would be utilized to manufacture agricultural pesticides in its Ludwigshafen site. The new factory will provide offerings to improve biological seed treatment and fungicide treatments.
  • In October 2023, ADM and Solugen stated that they would be generating plant based chemical products such as fermentation chemicals with the ADM’s corn-processing facility in Minnesota.
  • On January 14, 2022, Evonik Industries, a prominent specialty chemical AG, launched a rhamnolipid manufacturing facility. The commercial manufacturing plant for organic, completely biodegradable rhamnolipids is expected to drive market growth in the cosmetic and toiletry industries.

List of the prominent players in the Fermentation Chemicals Market:

  • BASF SE
  • Novozymes A/S
  • Dow Chemical Company
  • Evonik Industries AG
  • Ajinomoto Co. Inc.
  • Archer Daniels Midland Company
  • Cargill Incorporated
  • Hansen Holding A/S
  • DuPont de Nemours Inc.
  • Lonza Group AG
  • DSM
  • AB Enzymes GmbH
  • BioAmber Inc.
  • Lallemand Inc.
  • Kyowa Hakko Bio Co. Ltd.
  • Novamont S.p.A.
  • Tereos SA
  • Sumitomo Chemical Co. Ltd.
  • Tate & Lyle PLC
  • Amano Enzyme Inc.
  • Others

These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.

The Fermentation Chemicals Market is segmented as follows:

By Type

  • Alcohol & Ketones
  • Amino Acids
  • Industrial Enzymes
  • Organic Acids
  • Others

By Application

  • Industrial Applications
  • Food and Beverages
  • Nutritional and Pharmaceutical
  • Plastics and Fibers
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Fermentation Chemicals Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Fermentation Chemicals Market: Snapshot
  • Chapter 3. Global Fermentation Chemicals Market – Industry Analysis
    • 3.1 Fermentation Chemicals Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Growing demand for methanol and ethanol
      • 3.2.2 Strong demand for fermentation chemicals from the pharmaceutical industry
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Type
      • 3.7.2 Market Attractiveness Analysis By Application
  • Chapter 4. Global Fermentation Chemicals Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Fermentation Chemicals Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Fermentation Chemicals Market – Type Analysis
    • 5.1 Global Fermentation Chemicals Market Overview: By Type
      • 5.1.1 Global Fermentation Chemicals Market Share, By Type, 2022 and – 2033
    • 5.2 Alcohol & Ketones
      • 5.2.1 Global Fermentation Chemicals Market by Alcohol & Ketones, 2024 – 2033 (USD Billion)
    • 5.3 Amino Acids
      • 5.3.1 Global Fermentation Chemicals Market by Amino Acids, 2024 – 2033 (USD Billion)
    • 5.4 Industrial Enzymes
      • 5.4.1 Global Fermentation Chemicals Market by Industrial Enzymes, 2024 – 2033 (USD Billion)
    • 5.5 Organic Acids
      • 5.5.1 Global Fermentation Chemicals Market by Organic Acids, 2024 – 2033 (USD Billion)
    • 5.6 Others
      • 5.6.1 Global Fermentation Chemicals Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 6. Global Fermentation Chemicals Market – Application Analysis
    • 6.1 Global Fermentation Chemicals Market Overview: By Application
      • 6.1.1 Global Fermentation Chemicals Market Share, By Application, 2022 and – 2033
    • 6.2 Industrial Applications
      • 6.2.1 Global Fermentation Chemicals Market by Industrial Applications, 2024 – 2033 (USD Billion)
    • 6.3 Food and Beverages
      • 6.3.1 Global Fermentation Chemicals Market by Food and Beverages, 2024 – 2033 (USD Billion)
    • 6.4 Nutritional and Pharmaceutical
      • 6.4.1 Global Fermentation Chemicals Market by Nutritional and Pharmaceutical, 2024 – 2033 (USD Billion)
    • 6.5 Plastics and Fibers
      • 6.5.1 Global Fermentation Chemicals Market by Plastics and Fibers, 2024 – 2033 (USD Billion)
    • 6.6 Others
      • 6.6.1 Global Fermentation Chemicals Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 7. Fermentation Chemicals Market – Regional Analysis
    • 7.1 Global Fermentation Chemicals Market Regional Overview
    • 7.2 Global Fermentation Chemicals Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 7.3. North America
      • 7.3.1 North America Fermentation Chemicals Market, 2024 – 2033 (USD Billion)
        • 7.3.1.1 North America Fermentation Chemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.4 North America Fermentation Chemicals Market, by Type, 2024 – 2033
      • 7.4.1 North America Fermentation Chemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.5 North America Fermentation Chemicals Market, by Application, 2024 – 2033
      • 7.5.1 North America Fermentation Chemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.6. Europe
      • 7.6.1 Europe Fermentation Chemicals Market, 2024 – 2033 (USD Billion)
        • 7.6.1.1 Europe Fermentation Chemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.7 Europe Fermentation Chemicals Market, by Type, 2024 – 2033
      • 7.7.1 Europe Fermentation Chemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.8 Europe Fermentation Chemicals Market, by Application, 2024 – 2033
      • 7.8.1 Europe Fermentation Chemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.9. Asia Pacific
      • 7.9.1 Asia Pacific Fermentation Chemicals Market, 2024 – 2033 (USD Billion)
        • 7.9.1.1 Asia Pacific Fermentation Chemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.10 Asia Pacific Fermentation Chemicals Market, by Type, 2024 – 2033
      • 7.10.1 Asia Pacific Fermentation Chemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.11 Asia Pacific Fermentation Chemicals Market, by Application, 2024 – 2033
      • 7.11.1 Asia Pacific Fermentation Chemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.12. Latin America
      • 7.12.1 Latin America Fermentation Chemicals Market, 2024 – 2033 (USD Billion)
        • 7.12.1.1 Latin America Fermentation Chemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.13 Latin America Fermentation Chemicals Market, by Type, 2024 – 2033
      • 7.13.1 Latin America Fermentation Chemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.14 Latin America Fermentation Chemicals Market, by Application, 2024 – 2033
      • 7.14.1 Latin America Fermentation Chemicals Market, by Application, 2024 – 2033 (USD Billion)
    • 7.15. The Middle-East and Africa
      • 7.15.1 The Middle-East and Africa Fermentation Chemicals Market, 2024 – 2033 (USD Billion)
        • 7.15.1.1 The Middle-East and Africa Fermentation Chemicals Market, by Country, 2024 – 2033 (USD Billion)
    • 7.16 The Middle-East and Africa Fermentation Chemicals Market, by Type, 2024 – 2033
      • 7.16.1 The Middle-East and Africa Fermentation Chemicals Market, by Type, 2024 – 2033 (USD Billion)
    • 7.17 The Middle-East and Africa Fermentation Chemicals Market, by Application, 2024 – 2033
      • 7.17.1 The Middle-East and Africa Fermentation Chemicals Market, by Application, 2024 – 2033 (USD Billion)
  • Chapter 8. Company Profiles
    • 8.1 BASF SE
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Novozymes A/S
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Dow Chemical Company
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Evonik Industries AG
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Ajinomoto Co. Inc.
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Archer Daniels Midland Company
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Cargill Incorporated
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Chr. Hansen Holding A/S
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 DuPont de Nemours Inc.
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Lonza Group AG
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 DSM
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
    • 8.12 AB Enzymes GmbH
      • 8.12.1 Overview
      • 8.12.2 Financials
      • 8.12.3 Product Portfolio
      • 8.12.4 Business Strategy
      • 8.12.5 Recent Developments
    • 8.13 BioAmber Inc.
      • 8.13.1 Overview
      • 8.13.2 Financials
      • 8.13.3 Product Portfolio
      • 8.13.4 Business Strategy
      • 8.13.5 Recent Developments
    • 8.14 Lallemand Inc.
      • 8.14.1 Overview
      • 8.14.2 Financials
      • 8.14.3 Product Portfolio
      • 8.14.4 Business Strategy
      • 8.14.5 Recent Developments
    • 8.15 Kyowa Hakko Bio Co. Ltd.
      • 8.15.1 Overview
      • 8.15.2 Financials
      • 8.15.3 Product Portfolio
      • 8.15.4 Business Strategy
      • 8.15.5 Recent Developments
    • 8.16 Novamont S.p.A.
      • 8.16.1 Overview
      • 8.16.2 Financials
      • 8.16.3 Product Portfolio
      • 8.16.4 Business Strategy
      • 8.16.5 Recent Developments
    • 8.17 Tereos SA
      • 8.17.1 Overview
      • 8.17.2 Financials
      • 8.17.3 Product Portfolio
      • 8.17.4 Business Strategy
      • 8.17.5 Recent Developments
    • 8.18 Sumitomo Chemical Co. Ltd.
      • 8.18.1 Overview
      • 8.18.2 Financials
      • 8.18.3 Product Portfolio
      • 8.18.4 Business Strategy
      • 8.18.5 Recent Developments
    • 8.19 Tate & Lyle PLC
      • 8.19.1 Overview
      • 8.19.2 Financials
      • 8.19.3 Product Portfolio
      • 8.19.4 Business Strategy
      • 8.19.5 Recent Developments
    • 8.20 Amano Enzyme Inc.
      • 8.20.1 Overview
      • 8.20.2 Financials
      • 8.20.3 Product Portfolio
      • 8.20.4 Business Strategy
      • 8.20.5 Recent Developments
    • 8.21 Others.
      • 8.21.1 Overview
      • 8.21.2 Financials
      • 8.21.3 Product Portfolio
      • 8.21.4 Business Strategy
      • 8.21.5 Recent Developments
List Of Figures

Figures No 1 to 24

List Of Tables

Tables No 1 to 52

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2032

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2032
  • Market revenue estimates and forecasts up to 2032, by technology
  • Market revenue estimates and forecasts up to 2032, by application
  • Market revenue estimates and forecasts up to 2032, by type
  • Market revenue estimates and forecasts up to 2032, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • BASF SE
  • Novozymes A/S
  • Dow Chemical Company
  • Evonik Industries AG
  • Ajinomoto Co. Inc.
  • Archer Daniels Midland Company
  • Cargill Incorporated
  • Hansen Holding A/S
  • DuPont de Nemours Inc.
  • Lonza Group AG
  • DSM
  • AB Enzymes GmbH
  • BioAmber Inc.
  • Lallemand Inc.
  • Kyowa Hakko Bio Co. Ltd.
  • Novamont S.p.A.
  • Tereos SA
  • Sumitomo Chemical Co. Ltd.
  • Tate & Lyle PLC
  • Amano Enzyme Inc.
  • Others

FAQs

The restraints of the Fermentation Chemicals market is high costs associated with the fermentation of lactic acids.

The major driver for the Fermentation Chemicals market is growing demand for methanol and ethanol and strong demand for fermentation chemicals from the pharmaceutical industry.

The “Alcohol & Ketones” category dominated the market in 2022.

The key players in the market are BASF SE, Novozymes A/S, Dow Chemical Company, Evonik Industries AG, Ajinomoto Co. Inc., Archer Daniels Midland Company, Cargill Incorporated, Chr. Hansen Holding A/S, DuPont de Nemours Inc., Lonza Group AG, DSM, AB Enzymes GmbH, BioAmber Inc., Lallemand Inc., Kyowa Hakko Bio Co. Ltd., Novamont S.p.A., Tereos SA, Sumitomo Chemical Co. Ltd., Tate & Lyle PLC, Amano Enzyme Inc., Others

“Asia-Pacific” had the largest share in the Fermentation Chemicals Market.

The global market is projected to grow at a CAGR of 7.1% during the forecast period, 2023-2032.

The Fermentation Chemicals Market size was valued at USD 65.8 Billion in 2023.

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