According to the report by Global Market Insights Inc., the Fermentation Chemicals Market was estimated at USD 93.25 billion in 2021 and is estimated to surpass USD 142 billion in revenue by 2028, progressing at a CAGR of 6% from 2022 to 2028. The research report gives an in-depth assessment of drivers & opportunities, wavering market trends, top winning strategies, competitive scenarios, market size & estimations, and major investment pockets.
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Fermentation of lactose finds extensive usage in the dairy sector for making various products like mozzarella, cheddar, parmesan, and so forth. The prevalent “do-it-yourself” trend has bolstered the demand for yogurt, cheese, and other dairy products. Rising demand for healthy snacking and convenience food, along with growing awareness pertaining to the health benefits of these products, is slated to drive product uptake. Moreover, the soaring adoption of instant and processed food by consumers on account of their high nutrient value is also set to impel product demand. Driven by these factors, the dairy products segment is slated to exceed USD 9.35 billion in revenue by 2028.
The fermented chemicals market from dairy products is projected to reach a value of over USD 9.35 billion by the end of 2028. Fermentation of lactose is used in the dairy industry for making a variety of such as like mozzarella, cheddar, parmesan, etc. The growing trend of “Do-it-yourself” has also spurred the demand for cheese, yogurt, and other dairy products. Additionally, the healthy snacking trend and increasing demand for convenience food coupled with health benefits will boost the market growth. In addition, the rising demand for instant & processed food by consumers is due to their adequate amount of nutrient value is anticipated to flourishing market growth.
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Expanding the pharmaceutical industry and increasing healthcare spending are among the key factors driving Europe fermentation chemical market growth. Fermentation is a method of cultivating microorganisms or other organic matter into medications including antibiotics, medicinal proteins, enzymes, and insulin. Thus, over the forecasted timeframe, high pharmaceutical product development rates attributable to high R&D spending will push market expansion.
Leading market players:
Some prominent firms in the global fermentation chemicals industry include Amano Enzyme Inc., Evonik Industries AG, Ajinomoto Company Incorporation, BASF SE, Lana Tech, The Dow Chemical Company, AB Enzymes, ADM, DSM, Novozymes A/S, Chr. Hansen A/S, and others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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