The global fermentation ingredientsmarketis primarily driven by an increasingdemand 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.
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.
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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.