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Fermentation Chemicals Market Analysis
- Report ID: GMI4028
- Published Date: Feb 2023
- Report Format: PDF
Fermentation Chemicals Market Analysis
The industrial enzymes segment is estimated to cross USD 67 billion by 2032. Commercial applications for industrial enzymes include the production of chemicals, medicines, biofuels, food and beverage, and consumer goods. These enzymes aid in speeding up reactions to obtain the final product accurately and quickly and are applicable in various end-use industries for making cheese, brewing beer, baking bread, extracting fruit juice, tanning leather, and others. With multiple benefits like quick processing times, low energy requirements, affordability, non-toxic nature, and environmental friendliness, industrial enzymes are set to hold a major market share.
The fermentation chemicals market share from the food and beverages segment is anticipated to reach USD 49 billion by 2032. In the food and beverage business, fermentation chemicals are mostly used in the manufacturing of alcoholic beverages including beer, wine, and liquor as well as yogurt pickles, bread, and bakery goods. Foods and drinks that have undergone fermentation are easier to digest, have a better shelf life, and add more flavor.
A rise in food and beverage consumption would influence the market revenue. As per a study, in 2022, nearly 90% of the French population consumed wine in restaurants, regardless of their age. While in the United States, in 2021, nearly 879 million gallons of wine were consumed. Factors like population growth, increased agricultural production, rising consumer income levels, and shifting dietary preferences will drive the sales of food and beverage products made using fermentation chemicals.
Europe fermentation chemical market analysis is expected to witness over 4.5% CAGR through 2032, attributed to the expanding pharmaceutical sector in the EU. Rising medical R&D, an increase in health conditions, and favorable government regulations are expected to complement this growth. For instance, the EU financial support program, dubbed the EU4Health programme, plans to invest €5.3 billion in the health sector during 2021-27.
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Fermentation Chemicals Market Scope
