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.
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.
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