World Markets for Fermentation Ingredients
The global market for fermentation-derived products is expected to increase from nearly $24.3 billion in 2015 to $35.1 billion in 2020, with a compound annual growth rate (CAGR) of 7.7% from 2015 to 2020.
- Descriptions of the latest developments in major fermentation products.
- Analyses of global market trends, with data from 2014, estimates for 2015, and projections of CAGRs through 2020.
- Particular insight into the inter–relationship between ethanol and other carbohydrate using industries.
- A look at changes in the industry's structure contrasting actual production with installed capacities.
- Profiles of major players in the industry.
After categorizing the main fermentation products, the report describes each individual product, reviews industry developments, makes estimates of current volumes produced and consumed, and finally considers price trends and industry structure.
Building on carbohydrate conversion rates and production sites, the demand for carbohydrates is estimated for specific regions and contrasted with availability. Those regions and products that may experience tighter production due to restrained raw materials are identified.
This report does not cover every industrial product that is fermented. Most of the products covered in this report have been in the market for years, but the examples of astaxanthin and beta-carotene demonstrate how difficult it is to introduce such products with sustainability. Few recently introduced industrial fermentation products have become mainstream practices, and many new products ultimately disappear.
The report concludes with a review of the most important companies that are active in the fermentation processes.
MELISSA ELDER is a healthcare market analyst specializing in treatments, medical equipment and devices. As a research analyst for more than 20 years, she also worked in medical training and advanced medical technologies. She holds a B.S. degree in business management and is pursuing an MBA in health care management from California Coast University.
- The global market for fermentation products is expected to increase from $15.9 billion in 2008 to $22.4 billion by the end of 2013, a compound annual growth rate (CAGR) of 7.0%.
- Amino acids have the largest share of the market, generating $5.4 billion in 2008. This is expected to reach $7.8 billion in 2013, for a CAGR of 7.6%.
- Industrial enzyme applications have the second-largest share of the market and are expected to grow at a CAGR of 8.9%, from $3.2 billion in 2008 to an estimated $4.9 billion in 2013.
The global market for fermentation products was estimated at $14.1 billion in 2004 and is expected to rise at an average annual growth rate (AAGR) of 4.7% to $17.8 billion in 2009.
Crude antibiotics are estimated at $5 billion in 2004. This is approximately the same value as in 1998, with volumes increased but prices eroded substantially.
Amino acids are the second largest and nearly the fastest growing category, and estimated at $3.5 billion in 2004. The market in 2009 is expected to reach nearly $5 billion.
Organic acids represent the third largest category and is dominated by citric acid. The total market value will rise to $3.0 in 2009.
Among the rest, only xanthan will see anaemic growth due to price erosion.
The total value of the world fermentation production is estimated at $4.8 billion. By 2004, the total value should be about $4.9 billion. In 2004, the fermentation world will look not much different than today in terms of capacity or in terms of product output or value. Much growth cannot be expected. Therefore, the whole fermentation industry is facing an unclear future.
In terms of value, amino acids, organic acids, and enzymes, as well as antibiotics, are of approximately equal size with about $1 billion each. In terms of capacity (and this serves as a parameter for the production per unit of fermenter size), antibiotics take the lead with 40% of the global capacities of approximately 360,000 to 370,000 m3.
Most of the organic and amino acids are used in feed or food, and most antibiotics in human therapy and in feed. Developments in the feed market and to some extent in the food market have, therefore, outstanding importance for the future of such products. The feed market is suffering from reduced demand for meat, and lower meat prices as well. In Europe, meat consumption is decreasing because of the health aspect, and in Eastern Europe and Asia, because of the reduced purchasing power of the population.
Vitamins and polymers, the smaller fermentation products, are no exceptions. In these fields, price reductions will also be the driving force for a tendency toward lower market value in a few years. Possible higher demand in volume terms will not be able to compensate.