The fermentation ingredients market accounted for US$ 28 billion in 2021 and is projected to exceed US$ 54 billion by 2028; it is estimated to record a CAGR of 7.5% from 2022 to 2028.
Fermentation ingredients are used in the industries such as food & beverages, pharmaceuticals, animal feed, and personal care products. Amino acids, organic acids, vitamins, enzymes, and other products and by-products of fermentation cultures modify the texture, taste, and color of final products. The production of cheese from milk is one of the most common applications of fermentation ingredients that also contribute to the extended shelf life of the product.
MARKET DYNAMICS
Rising awareness about the health benefits of fermentation ingredients and the growing prevalence of obesity and digestive problems are booting the fermentation ingredients market growth. These ingredients offer food and beverage manufacturers a convenient solution for the preservation of food items. Moreover, they are easy to procure. The demand for fermentation ingredients is also growing significantly in the personal care and cosmetics industry.
MARKET SCOPE
The "Global Fermentation Ingredients Market Analysis to 2028" is a specialized and in-depth study with a special focus on market trend analysis. The report aims to provide an overview of the fermentation ingredients market with detailed market segmentation. It provides key market statistics based on the performances of leading market players, and highlights key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The fermentation ingredients market is segmented on the basis of type and application. Based on type, the market is further segmented into yeast, amino acids, organic acid, vitamins, enzymes, and others. In terms of application, the fermentation ingredients market is categorized into food & beverages, pharmaceuticals, animal feed, personal care, and others.
REGIONAL FRAMEWORK
The report provides a detailed industry overview, including qualitative and quantitative information. It provides an overview and forecast of the global fermentation ingredients market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to 5 major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. The fermentation ingredients market in each region is subsegmented into respective countries. The report covers the analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in each region.
North America dominated the fermentation ingredients market in 2021. The dominance of this region is mainly driven by the high consumption of cheese, yogurt, and alcohol in key countries. Moreover, increased demand for fermentation ingredients in the personal care and cosmetic industries is contributing to the market growth in the region.
The following figure showcases the revenue growth trend in the fermentation ingredients market:
Source: The Insight Partners Analysis
The report analyzes factors affecting the fermentation ingredients market from both the demand and supply sides. Further, it evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, influencing the market progress. The report also provides an exhaustive Porter's Five Forces analysis of the market.
IMPACT OF COVID-19 PANDEMIC
During the COVID-19 pandemic, the demand for fermentation ingredients was relatively stable, despite the disrupted supply of the same, resulting in its shortage across the world. The shortage was mainly due to disturbances in supply chains and bans imposed on different ingredients used in fermentation ingredients. Travel and trade bans also resulted in the shortage of raw materials, which affected the production and distribution of these products, leading to increased prices. Fermentation ingredients are primarily used in various applications, including food & beverages, pharmaceuticals, cosmetics, and personal care. The pandemic hampered the growth of these industries due to strict lockdowns and manufacturing plant shutdowns, thereby hampering the growth of the fermentation ingredients market. However, since 2021, the production of fermentation ingredients surged owing to availability of raw materials and rising demand from end use industries such as food and beverages, personal care, and others.
MARKET PLAYERS
The reports highlight key organic and inorganic growth strategies in the fermentation ingredients market. Organic growth strategies adopted by market players include product launches, product approvals, and patents and events. Further, the inorganic growth strategies witnessed in the market include acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of businesses and customer bases of market players.
The report on the fermentation ingredients market presents the profiles of key companies in this market, focusing on their SWOT analysis and market strategies. The company profile section focuses on leading industry players with information such as components and services offered, financial information for the last 3 years, and key development in the past 5 years. The list of a few companies engaged in the fermentation ingredients market is given below:
- Döhler GmbH
- DSM
- Chr. Hansen Holding A/S
- Lallemand Inc
- Kerry Group plc
- Cargill, Incorporated
- Associated British Foods plc
- Lonza
- Ashland
- AngelYeast Co., Ltd
The dedicated research and analysis team at The Insight Partner consists of experienced professionals with advanced statistical expertise. The team also offers various customization options in the existing study.