Fermentation chemicals are used as process initiators in several applications. Fermentation chemicals help in speeding the process reactions and saves time, energy and process cost. Fermentation chemicals are widely used in industries across the globe, owing to their natural structure, low cost and better outputs. The major product class of fermentation chemicals consists of alcohols, enzymes and organic acids. Fermentation chemicals are utilized in variety of applications in a wide range of chemical processes in industries such as alcohol industry, pharmaceutical industry, food and beverages industry, chemical industry, textile industry and rubber industry among others. The revenue generated by the global fermentation chemicals market was USD 41,567.7 million in 2012 which is expected to reach USD 60,123.9 million by 2019, growing at a CAGR of 5.4% from 2013 to 2019.
Alcohols accounted for the largest share of the global fermentation chemicals market in 2012, followed by enzymes and organic acids. The alcohol segment of fermentation chemicals market generated revenue of USD 22,377.1 million in 2012 and accounted for around 53.8% share of total consumption fermentation chemicals. Though alcohols market is the biggest product segment of fermentation chemicals, the other types segment that includes antibiotics, vitamins and xanthan, is the most attractive market.
Industrial applications segment was the largest market segment of fermentation chemicals in 2012. The industrial applications segment of the fermentation chemicals market has generated revenue of USD 18,765.7 million in 2012 and accounted for around 45.2% share of total consumption fermentation chemicals. Food and beverages, pharmaceutical and cosmetics are the other major end user application segments of fermentation chemicals. Food and beverages dominate the global fermentation chemicals consumption and the positive growth in this industry across the globe is driving the fermentation chemicals market. In addition, the strong demand from pharmaceutical and cosmetics industry is acting as a growth driver for the fermentation chemicals market.
The global fermentation chemicals market is segmented based on geography. North America represents the largest and the most important market for the fermentation chemicals industry. In the recent past, fermentation chemicals market in North America was driven by strong growth in the pharmaceutical market in the U.S. Asia Pacific is the second largest market for fermentation chemicals followed by Europe and RoW. Owing to the saturation in the North American and European market, Asia Pacific is expected to be the potential market in the future.
The ever increasing food and beverages industry across globe is fuelling the demand for fermentation chemicals. Fermented alcohols were the largest consumed fermentation chemical across the globe in 2012 which is used as drinkable alcohol, spirits, solvents and mixture in fuels. The growing demand for alcohol across the world is expected to be the key market driver for fermentation chemicals. Along with that, the growing pharmaceutical and cosmetic industry is expected to drive the demand for fermentation chemicals in the future. The eco-friendly nature of fermentation chemicals, rising environmental concerns and increasing number of industrial applications are expected to provide a wide range of opportunities in the fermentation chemicals market. However, the issues regarding availability of raw material and process fluctuations may restrain the market growth in future. Ajinomoto Company Incorporation, BASF SE, Dow Chemical Company, Novozymes A/S, Cargill Incorporation, Evonik Industries and Du Pont Danisco A/S are some of the major manufacturers of fermentation chemicals.
The report covers forecast and analysis for the fermentation chemicals market on a global and regional level. The demand forecast is done based on volumes (kilo tons) and revenue (USD million) for the period ranging from 2013 to 2019. The study includes the drivers and restraints for the fermentation chemicals market along with the impact they have on the demand over the forecast period. In addition, the report includes the study of the opportunities available in the fermentation chemicals market on a global and regional level.
To give the users of this report a comprehensive view on the fermentation chemicals market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of the Porters five forces model for the fermentation chemicals market has also been included. The study encompasses a market attractiveness analysis, wherein the applications are benchmarked based on their market size, growth rate and general attractiveness.
The study provides a decisive view on the fermentation chemicals market by segmenting the market based on its product segments and applications. All the product and application segments have been analyzed based on present and future trends and the market is estimated from 2013 to 2019. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the world (RoW). This segment includes the demand for individual applications and product segments in all the regions.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include Ajinomoto Company Incorporation, BASF SE, Dow Chemical Company, Novozymes A/S, Cargill Incorporation, Evonik Industries and Du Pont Danisco A/S among others. The company profiles include attributes like company overview, financial overview, business strategy, SWOT analysis and recent developments.
For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, relevant patent and regulatory databases such as ICIS, Hoovers, Onesource, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases and webcasts specific to companies operating in the market.
The primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. Primary interview provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc. Moreover, it helps in validating and strengthening secondary research findings. Furthermore, it develops the analysis team’s expertise and market understanding.
Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the typical data types to produce estimates. These data type include demographic data such as population split by segments, macroeconomic indicators such as GDP, inflation rate, etc. and industry indicators such as expenditure, technology stage and infrastructure, sector growth and facilities. This data is then cross-checked by an expert panel.
The report segments the global fermentation chemicals market as:
Fermentation Chemicals Market, Product Segment Analysis:
- Organic Acids
Fermentation Chemicals Market, Application Segment Analysis:
- Industrial Applications
- Food and Beverages
- Nutritional and Pharmaceutical
- Plastics and Fibers
Fermentation Chemicals Market, Regional Analysis:
- North America
- Asia Pacific
- Rest of the world