The fermented ingredients market is predicted to grow at a CAGR of 6.7% over the forecast period, according to FMI’s analysis. The industry’s value is anticipated to increase from US$ 48.9 Bn in 2023 to US$ 93.9 Bn by 2033 end.
Fermented ingredients play an important role in food preservation. Along with this, they also have the ability to relieve digestive issues. Manufacturers take into account the aforementioned factors, and prefer utilizing fermented ingredients to enhance shelf life of end products. The rising demand for products with long shelf-life is instigating the sales of fermented ingredients.
Another prime market propellant for fermented ingredients is the escalating consumption of alcoholic beverages the world over. Among the diverse range of alcoholic drinks, beer is the most well-liked alcoholic drink. It is prepared by fermentation of several kinds of products, such as wheat and rice. The market, as a result of rising beer consumption, would witness strong growth over the forthcoming years.
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The demand for fermented ingredients is also positively affected by the eco-friendly manufacturing systems, heightened environment consciousness, and multiple health benefits associated with the consumption of these product. Furthermore, the utilization of biodegradable plastics, which is observing an upward trend, is produced by fermentation of sugar, thus driving sales of fermented ingredients. Moreover, the vast application spectrum of biodegradable plastics in industries like food packaging is also adding onto the market growth.
Key Takeaways from the Fermented Ingredients Industry:
- The United States is predicted to retain its inordinate share of the fermented ingredients market in the coming years. By 2033, the American market is estimated to reach US$ 31.7 Bn, expanding at a CAGR of 6.2% over the forecast period. The extensive manufacturing infrastructure in the country supports the market growth.
- Over the span of next 10 years, China is anticipated to emerge as the fastest growing market for fermented ingredients. Demonstrating a CAGR of 10.9%, the market valuation of Chinese fermented ingredients market would be US$ 9.7 Bn, second to the US market.
- Next in line is Japan market, which is assessed by FMI experts to arrive at US$ 4.5 Bn by 2033, displaying a CAGR of 8.8% in the meantime. The country witnesses high demand for fermented products and offers favorable environment factors conducive to the growth of bacteria that supports fermentation. Close integration of fermented foods with Japanese’ lifestyle is a key factor propelling the demand for fermented ingredients.
- Dry form of fermented ingredients are the most preferred items by masses world over. This could be attributed to its prolonged shelf life as compared to its liquid counterpart. The growth rate of dry fermented ingredients is expected to expand at a CAGR of 6.1%.
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New Developments Providing Stimulus to the Fermented Ingredients Market:
- In September 2022, Angel Yeast, an international manufacturer of yeast, launched premium dry yeast low-sugar and high-sugar varieties, which are user-friendly, fast, and high-quality ingredients that cater to the dynamic consumer expectations and baking challenges.
- In April 2022, Biochem Limited and Kothari Fermentation launched mono oligo saccharides and yeast extract powder. This product is primarily employed in the pharmaceutical sector. Apart from that, the product also finds application in low calorie food, food and food stuff, beverages, dietary foods, soups, nutritional filler, seasonings, etc.
- In June 2022, BASF’s Care Creations launched two new skin care ingredients that support graceful and healthful skin aging. These biotic ingredients are based on bacterium that is naturally found in youthful skin. These products are developed using bio fermentation process.
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Market Segments Covered in Fermented Ingredients Market Analysis
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 (MEA)
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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