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 Insights

Global Fermented Ingredients Market size was valued at USD 33.9 billion in 2022 and is poised to grow from USD 36.78 billion in 2023 to USD 70.64 billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024- 2031).

The escalating global consumption of alcoholic beverages emerges as another pivotal driver for industry growth. Beer, a widely favored alcoholic beverage, is crafted through the fermentation of diverse ingredients like rice and wheat. Thus, the anticipated increase in beer consumption is poised to further propel market expansion.

Furthermore, amplified environmental consciousness, the adoption of eco-friendly production methods, and the myriad health advantages associated with these products are driving demand. The widespread use of biodegradable plastics, synthesized through the fermentation of sugars, significantly influences market dynamics. Notably, the demand for biodegradable plastics is projected to rise from $1.1 billion in 2018 to $1.7 billion in 2023, owing to their multifaceted application across industries.

Nonetheless, the inconsistent availability of raw materials presents a substantial impediment that could impede long-term market growth. The substantial cost linked to procuring raw materials serves as another considerable restraint. Nevertheless, the increasing demand from emerging economies, encompassing Africa, India, and China, is anticipated to mitigate the effects of these obstacles, steering the market toward favorable outcomes.

Moreover, the burgeoning biopharmaceutical sector is poised to drive market expansion in the projected time frame. This field is witnessing notable growth owing to its heightened efficiency and recognition as a remarkable innovation in modern science. This, along with the aforementioned factors, cumulatively shapes the dynamic landscape of the fermentation industry.

US Fermented Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Fermented Ingredients Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

The competitive landscape of the global fermented ingredients market is characterized by a robust interplay between industry stalwarts and emerging contenders, reflecting the growing significance of these ingredients across multiple sectors. Established players often leverage their extensive industry experience, well-established brands, and robust distribution networks to maintain their dominance. They frequently invest in research and development to innovate products that cater to evolving consumer preferences, thereby sustaining their competitive edge. 'Chr. Hansen Holding A/S (Denmark)', 'Kerry Group plc (Ireland)', 'Lallemand Inc. (Canada)', 'Angel Yeast Co., Ltd. (China)', 'DuPont de Nemours, Inc. (United States)', 'Koninklijke DSM N.V. (Netherlands)', 'Novozymes A/S (Denmark)', 'Archer Daniels Midland Company (ADM) (United States)', 'Ajinomoto Co., Inc. (Japan)', 'Lonza Group AG (Switzerland)'

Consumer preference for natural and organic ingredients in food and beverages fuels the demand for fermented ingredients due to their perception as wholesome and minimally processed options.

Plant-Based and Alternative Fermented Products: The growing popularity of plant-based diets has led to the development of fermented alternatives to traditional animal-derived products, such as plant-based yogurts and cheeses.

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Fermented Ingredients Market Size, Share, Growth Analysis, By Product(Vinegar, Cider), By Application(Food & Beverage, Pharmaceuticals) - Industry Forecast 2024-2031

Global Fermented Ingredients Market Insights

Global Fermented Ingredients Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Fermented Ingredients Market?

Who are the key vendors in the Global Fermented Ingredients Market?

What is the key driver of Global Fermented Ingredients Market?

What is the key market trend for Global Fermented Ingredients Market?

Which region accounted for the largest share in Global Fermented Ingredients Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300