Market Size of Fermented Ingredients Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.72 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fermentation Ingredients Market Analysis
The global fermented ingredients market is expected to grow at a CAGR of 4.72 % during the forecast period.
- The global fermented ingredients market is witnessing an upsurge of rising consumer awareness regarding the benefits in the food and beverage, industrial, and personal care sectors. Additionally, significant growth in the animal feed sector and processed food products, in addition to the rising consumer interest in bio-based chemicals, is expected to propel growth in the fermentation ingredient market.
- Further, producers of bulk food and feed ingredients, such as amino acids, organic acids, and vitamins, use fermentation as the basis of their production. Modern industrial biotechnology processes use carefully selected and purified microbial cell cultures to produce an ever-increasing variety of ingredients and increase productivity. The feed sector is witnessing a boost in the market studied, significantly driven by rising consumption of meat among consumers, which leads to more livestock rearing in the global market, especially in South America, Asia-Pacific, and other regions.
- Moreover, the demand for cultured dairy products is augmenting globally. This demand is led by new product development, improved taste and versatility, and high marketing support, which are expected to boost the overall fermented ingredients market growth in the coming years. Additionally, introducing an eco-friendly production system from fermentation ingredients manufacturers and advanced technologies in the fermentation process will likely change market dynamics during the forecast period.
