By 2033, it is anticipated that the fermented ingredients market would be worth US$93.9 billion. With a CAGR of 6.7%, the industry is anticipated to expand significantly. Some of the elements promoting the industry’s growth are listed below:
A newly released report on the global fermented ingredients market by FMI estimates that the fermented ingredients market enjoyed year-on-year (YoY) growth of 7.3% and is accounted for US$ 39,211.7 Million in 2021, which is also expected to witness a prominent growth rate of a CAGR of 6.6% to reach the value of US$ 74,591.6 Million in 2031. The rising fermentation technology by the leading manufacturer is leading the market for exponential growth.
Fermented ingredients application in food & beverages grew 5.2% in the historical period to US$ 12,600.3 Million in 2021, while the application in the paper industry of fermented ingredients was up 8.8% to US$ 7,116.8 Million in 2021.
Rising global alcohol consumption of fermented food is one of the most important factors fueling the industry’s growth, beer is the most popular alcoholic beverage and is manufactured by fermenting diverse materials including rice and wheat, higher beer consumption would eventually fuel market growth.
Furthermore, increased environmental consciousness, eco-friendly production practices, and several health benefits are driving demand for the product. The growing usage of biodegradable plastics generated from sugar fermentation is also limiting the market’s expansion.
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Key Takeaways from the Fermented Ingredient Market Study:
- North America fermented ingredient market lead in terms of market share and account for 39.6% of the global fermented ingredient market in 2021 exhibiting high demand from skincare and cosmetic industry and presence of leading manufacturers in the region.
- Dry fermented ingredient is the dominant form of fermented ingredient as the convenience in use and enhanced shelf life is more. Dry fermented ingredient is accounting for a market share of 60.1% in 2021 of the global market.
- In the nature segment, organic is anticipated to witness a lucrative growth rate with a CAGR of 9.2% during the forecast period (2021-2031) in the fermented ingredient market.
- In the application segment, food & beverages is accounted for 32.1% of the market share in 2021, which is also expected to witness a lucrative growth rate of 5.1% during the forecast period.
- In the process segment, batch fermentation is anticipated to witness a lucrative growth rate with a CAGR of 5.9% during the forecast period (2021-2031) in the fermented ingredient market.
“The top competitors in the fermented ingredient market in emerging countries are increasingly inclined towards new innovative technology for the production of products with enhancing shelf life of products as a preservative and adding flavor. This factor is owing to the high demand for fermented ingredient globally “According to FMI’s main analyst.
Fermented Ingredients in Pharmaceuticals Manufacturing
Fermented ingredient in pharmaceutical is gaining traction in the worldwide healthcare industry. Fermented substances aid in the conversion of a substrate to medicinal products by breaking down molecules under aerobic or anaerobic conditions. With the rising demand for fermented ingredient by the pharmaceutical industry the market is expected to grow exponentially.
Health Benefits of Fermented Foods
Fermented foods have been an essential element of many cultures’ diets, and fermentation has been linked to a variety of health advantages over time. As a result, the fermentation process and the fermented compounds that follow have recently piqued scientific attention. Furthermore, microbes involved in the fermentation process have lately been linked to a variety of health advantages, and as a result, these microorganisms have become a hot topic.
Fermented foods provide anti-microbial, anti-oxidant, anti-fungal, anti-diabetic, anti-inflammatory, and anti-atherosclerotic properties, among others.
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Who is Winning?
Some of the leading companies offering fermented ingredient Market are Ajinomoto Corporation Inc., Allied Bakeries, Angelyeast Co., Ltd., Associated British Food (ABF), Bakels, BASF SE, Cargill, Incorporated, CHR. Hansen A/S, CSK Food Enrichment, Dawn Food Products, Döhler Group, E.I. Dupont De Nemours and Company, and others.
Get Valuable Insights into Fermented Ingredient Market
By Form:
- Liquid
- Dry
By Product Type:
- Amino Acids
- Organic Acids
- Biogas
- Polymer
- Vitamins
- Antibiotics
- Industrial Enzymes
By Application:
- Food & Beverages
- Pharmaceuticals
- Paper
- Feed
- Personal Care
- Biofuel
- Others
By Process:
- Batch Fermentation
- Continuous Fermentation
- Aerobic Fermentation
- Anaerobic Fermentation
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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