The global fermented ingredients market is estimated to have reached a value of US$ 31,997.4 million in 2019. According to a study by Future Market Insights, the market is set to rise at a healthy 7.4 % CAGR through the forecast period ending in 2029. The rising incidences of obesity and digestive issues and health awareness among consumers are major factors driving the growth of the market.
Key Takeaways in Fermented Ingredients Market Study
- North America and Europe are dominating the fermented ingredients market accounting for 44.6 and 30.6 % of the overall revenue, and are expected to witness a steady rate of growth during the forecast period owing to production of items such as cheese, and wine, and a matured industry for food processing.
- Food and beverage applications account for the largest sector in the industry, with increased consumer awareness about the benefits on consuming fermented ingredients which will continue in the years ahead.
- Rising levels of environmental awareness and the increasing inclination towards biodegradable plastics, and a high potential of use in the bio-pharma sector owing to medical innovations and high efficacy characteristics are projected to drive the industry during the forecast period.
“In order to boost product sales, manufacturers must focus on fermentation of pharmaceutical ingredients,” said a leading FMI analyst.
Sourcing Raw Materials and Costs Restrain Market
Inconsistencies in the availability of raw materials is a major factor restraining the fermentation ingredients market, which is expected to continue in the long term. The problems are also compounded by the high prices of raw materials, which will impact procurement activities around the world. Goring demand from regions such as Africa, China and India, will be able to partially offset these constraints.
For Information On The Research Approach Used In The Report, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-11026
Get Valuable Insights into Fermented Ingredients Market
Future Market Insights, in its latest report, presents an unbiased analysis of the global fermented ingredients market, covering historical data and forecast figures for the period between 2019 and 2029. The study provides compelling insights into the growth witnessed in the market. In terms of nature, the market is bifurcated into liquid and dry. On the basis of product, the market is split between amino acids, organic acids, biogas, polymers, vitamins, antibiotics, and industrial enzymes. Based on application, the market can be segmented into food and beverages, pharmaceuticals, paper, feed, personal care, biofuel, and others. In terms of processes, batch fermentation, continuous fermentation, aerobic fermentation, and anaerobic fermentation cover the key segments. Regionally, the global market can be segmented into North America, Latin America, Europe, APEJ, Japan, and the Middle East and Africa.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.