Product ID: SQMIG30I2345
Global Fermented Ingredients Market Size, Share, Growth Analysis, By Product(Vinegar, Cider), By Application(Food & Beverage, Pharmaceuticals) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2345 |
Region:
Global |
Published Date: March, 2024
Pages:
198
|
Tables:
63 |
Figures:
65
Global Fermented Ingredients Market Regional Insights
In 2022, Europe exerted its dominance over the market, securing a significant share of 35.0% in the overall revenue, and this dominance is projected to persist with noteworthy growth anticipated in the forecast period. A prominent contributor to this expansion is France, which not only plays a major role in market growth but also holds the distinction of being the fastest-growing market within Europe. The buoyant market growth in France can be attributed to the robust consumption of alcohol, cheese, and yogurt, collectively bolstering market dynamics across the European landscape. Additionally, the United Kingdom (U.K.) emerges as a pivotal player, driving product demand and further enriching the regional market.
Shifting focus to the Asia Pacific region, it emerges as the prospective hotspot for market expansion, poised to record an impressive CAGR of 9.6% throughout the projected period. This robust growth finds its roots in a multifaceted blend of factors. The escalating population in nations such as India and China, coupled with the ongoing process of westernization, rising per capita income, and increased awareness regarding the health benefits associated with fermented products, collectively drive the regional market's surge. With India and China collectively representing more than 34.0% of the global population, their influence significantly propels the upward trajectory of the Asia Pacific market. This growth trajectory positions the region as a major player, poised to further shape the global fermented ingredients market dynamics.
Global Fermented Ingredients Market Report Snapshots
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