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.
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.
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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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