Fermentation Chemicals Market Size is projected to reach USD 97 Billion by 2030, growing at a CAGR of 5.5%: Spherical Insights

New York, USA, January 11, 2023 (GLOBE NEWSWIRE), -- A research report by Spherical Insights & Consulting shows that the Global Fermentation Chemicals Market will grow at a compound annual growth rate (CAGR of 5.5%) during the forecast period. The growth of fermentation chemicals is driven by their eco-friendliness, cost-savings, and superiority over synthetic or petroleum-derived counterparts.
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Key Insights: The global fermentation chemicals industry was worth USD 60 billion in 2021. This market is expected grow at a 5.5% CAGR from 2022 to 2030. View a sample copy of this report URL. A detailed Table of Contents is available here. Credit portfolios have been negatively affected by the COVID-121.9 outbreak. This has caused problems for customers and businesses, as well as a reduction in solvency and disruption of economic activity. The central banks have taken a proactive approach to injecting money into markets by decreasing interest rates, and implementing asset acquisition programmes.
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It was difficult enough to manage and monitor credit, market, liquidity and operational risk across financial services, given the persistent geopolitical tensions and global trade wars. The current pandemic crisis has forced chief risk officers and their teams to reevaluate the methods and assumptions they used to manage and monitor risks. The international repercussions from COVID-19 have shown the importance of interconnection in international collaboration
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Many governments are now eager to assess and purchase AI-powered solutions. Explore key industry insights across 200 pages. The report 'Global Fermentation chemicals market size, share and COVID-19 impact analysis, by product type (Alcohols. Organic Acids. Enzymes. and Other Product Types), By Application (Industrial. Food and Beverage. Pharmaceutical and Nutritional. Plastics and Fibers. And By Region (North America. Europe. Asia-Pacific. Latin America. Middle East. and Africa) Analysis and Forecast 2022-2013. The table of contents provides more details. URL Organic acids to dominate the market during the forecast period. Based on product type, the global fermentation chemicals industry can be divided into Alcohol, Organic Acids and Enzymes. The largest market share will be held by the organic acids segment during the forecast period
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Modern fermentation technology has made it possible to industrially produce organic acids. Organic acids are often added to preserve foods such as tartaric, fumaric, and lactic acids. Their ability to stop bacterial growth is a major reason for their use as preservatives.
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As consumers are more aware of the benefits of longer shelf life products, organic acids will be in high demand. CAGR for the industrial segment will be higher during the forecast period. The market for fermentation chemicals is classified by application into Food and Beverage (Food and Beverage), Pharmaceutical and Nutritional, Plastics and Fibres, and Other Applications.
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CAGRs in the industrial sector will be higher during the forecast period. In industry, chemical products for fermentation are used. Green chemistry has helped to increase penetration. There are many rules that can be applied for industrial and commercial uses.
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Industrial fermentation is the use of microorganisms such as bacteria and fungi to produce ethanol, citric acid and acetic acids. Natural food additives are superior to chemically produced ones in terms of antioxidants and preservatives, flavors and colors, as well as vitamins. Report Scope Report MetricDetailsMarket Size 2030USD 97 BillionCAGR5.5% (2020-2030)Historical Data2019-2020Base Year2021Forecast Period2022-2030Forecast UnitsValue (USD Billion)Segments CoveredBy Product Type, By Application, By Region, COVID-19 Impact AnalysisReport CoverageDrivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends Geographies CoveredNorth America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the WorldKey Companies Profiled/VendorsBASF SE, Cargill, Incorporated., Evonik Industries AG, DSM, and Lonza
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