Fermentation Ingredients Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 01/12/2017 -- The global fermentation ingredients market is primarily driven by an increasing demand for healthy food among consumers of all age groups. They are used extensively in the food & beverages and animal feed industries in order to enhance the shelf life of products. However, the dearth of quality raw materials, high costs of ingredients, and potential health risks caused by fermentation are a few hindrances experienced by this market.
On the basis of type, the fermentation ingredients market is divided into the following categories: organic acids, amino acids, polymers, vitamins, industrial enzymes, biogas, and antibiotics. Among these, amino acids accounted for the maximum market share in 2015 and this trend is expected to continue in the near future. The rising demand for them in the animal feed additive and food & beverages industries is a major contributing factor in this development. Polymers are also projected to witness growth during the forecast period. The increasing application of fermented ingredients in personal care products is anticipated to lead to advancements in this market in the near future.
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Applications of fermentation ingredients include food & beverages, bio fuel, pharmaceuticals, animal feed, paper, personal care products, and textile & leather. Fermented ingredients are commonly utilized in food and beverages, pharmaceuticals, and animal feed and this trend is projected to endure. Food and beverages presently are and likely to remain the dominant segment due to the growing employment of fermented ingredients to increase the shelf life of food products. The global market is also categorized in terms of form type into the liquid and dry varieties, of which the former constituted a prominent share in in the market in 2015. Liquid fermentation ingredients are preferred due to the ease with which they can be mixed with other ingredients. However, the dry segment is projected to expand over the forecast period.
Based on geography, the market is distributed over North America, Europe, Asia Pacific, Middle East &Africa (MEA), and Latin America. Asia Pacific is a substantial market for fermentation ingredients, whereas China is estimated to experience the top growth rate. Mounting population, escalating disposable income of the middle class, their subsequent need for high-quality food and personal care products, and the overall consumer awareness regarding health and wellness in developing countries such as India, China, and Japan is boosting the requirement of quality fermented ingredients in this region.
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This market is highly competitive with the presence of multiple large-scale and small-scale vendors. Competition is more concentrated in developing markets such as Asia Pacific and it is likely to intensify further with the arrival of more players. Key players currently operating in the fermentation ingredients market include Cargill and E. I. du Pont de Nemours and Company in the U.S., BASF SE in and Döhler Group in Germany, Ajinomoto Corporation Inc. in Japan,Chr. Hansen A/S in Denmark, Koninklijke DSM N.V. in the Netherlands, Lallemand Inc. in Canada, Angel Yeast Co., Ltd. in China, and Lonza in Switzerland. These companies have been investing huge amounts of capital in research and development activities and innovation centers in order to expandtheir production capabilities and meet the growing market demands. New product launches, acquisitions of related firms, and expansion are the strategies adopted to ensure their growth in this market.