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NORTH AMERICA FERMENTATION CHEMICALS MARKET FORECAST 20172025 [Updated: 16052017] Prices from USD $1250

08:13 EDT 19 Jun 2017 | BioPortfolio Report Blog

KEY FINDINGS
The North America market is expected to report good growth in the forecast period due to increasing population, growing demand for bakery and ready to eat products, increase in alcohol consumption and changing food consumption trends. This market is expected to report the highest growth due to increasing industrialization and government initiatives to support various industries. The North America fermentation chemicals market generated a revenue of $18.69 billion in 2016 and is anticipated to contribute $28.62 billion by 2025, growing at a CAGR of 4.94%. Various reasons for the growth of the fermentation chemicals market are growing demand for alcohol, increasing usage of the fermentation process in various industries, applications in industrial biotechnology, higher consumer awareness about biobased products and rising environmental concerns.

Fermentation chemicals are used in the fermentation process and help in speeding up the process. Fermentation chemicals play the role of an initiator and are used as catalysts or processor to hasten the process. This results in cost saving and less time is needed to complete the fermentation process.

Fermentation chemicals are the most important raw material in the alcohol industry. These chemicals are also used in nutritional food, animal feed, and food preservation. They are also used in bioplastics and fibers production. Strict environmental regulation from the EPA, European Union etc. will lead to higher demand for green biobased products and these production methods will utilize fermentation chemicals.

Fermentation chemicals market is segmented on the basis of geography, application, and products. On the basis of products, fermentation chemicals are classified as alcohols, enzymes, organic acid and others. On the basis of application, they are classified as industrial application, food and beverage, plastic and fibers, nutrition and pharmaceuticals and others


Market Insights
Market drivers for fermentation chemicals are increasing demand in various industries, growing market for the alcohol industry, strict environmental regulations, higher demand for biobased products, applications in industrial biotechnology and ease of use.

Alcohols dominate the fermentation chemicals by type. It constitutes 55% market share and as fermentation is an essential part of alcohol production, demand for these in the alcoholic beverage industry is expected to grow at a good CAGR in the forecast period.

Enzymes form the second largest share followed by organic acids. Organic acids are expected to report the highest growth in the forecast period. The reason for increasing demand of organic acids in the forecast period will be their increasing use in oil and gas well treatments. They are also used in food preservation, animal feed and nutritional food. It is predicted that the market for preserved and nutritional food will grow in the future leading to higher demand for organic acids.

The industrial application has the highest market share for fermentation chemicals, which is at 17%. They are used for various industrial processes like plastic, chemical, rubber, biofuel, leather and textile. The detergent industry is the biggest user of enzymes as they have better ability to remove stains and are environmentfriendly. Fibers and plastics industry is expected to report the highest growth for fermentation chemicals in the forecast period.

There is an increase in demand for bioplastic from various industries due to environment consciousness. Growth in industrial production along with higher industrial growth in developing economies will lead to increasing demand. More antibiotics and steroids are being produced due to enhanced demand and higher expenditure in developing countries. This too will lead to higher demand for fermentation chemicals. Fermentation chemicals are used as key raw material in pet food production and growth in demand for animal feed additives market will lead to market growth.


Factors that will restrain market growth are an intermittent supply of raw material like microorganisms and nutrients, high production cost and complexity in the manufacturing process.
1. AJINOMOTO COMPANY CORPORATION
2. AB ENZYMES GMBH
3. BASF SE
4. AMANO ENZYME INC.
5. DOW CHEMICAL COMPANY

Original Article: NORTH AMERICA FERMENTATION CHEMICALS MARKET FORECAST 20172025 [Updated: 16052017] Prices from USD $1250

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