(MENAFN- EIN Presswire) Fermentation Ingredients Market
Fermentation Ingredients Market is expected to reach US$ 54 Billion by 2028
NEW YORK, UNITED STATES, November 25, 2022 /einpresswire.com / -- The fermentation ingredients market accounted for US$ 28 billion in 2021 and is projected to exceed US$ 54 billion by 2028; it is estimated to record a CAGR of 7.5% from 2022 to 2028.
Fermentation ingredients are the microbial cultures used to ferment products in various industries to maintain appropriate texture, color, and flavor. The demand is majorly attributed to rising awareness about the preservation of food and beverage, higher demand for antibiotics, and rising demand for fermentation-derived products. However, the inconsistent availability and high cost of raw materials hamper the fermentation ingredients market growth.
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Döhler GmbH; DSM; Chr. Hansen Holding A/S; Lallemand Inc.; Kerry Group plc; Cargill, Incorporated; Associated British Foods plc; Lonza; Ashland; and Angel Yeast Co., Ltd are among the key market players profiled during the study. Several other major companies were also studied and analyzed to get a holistic view of the fermentation ingredients market and its ecosystem.
North America holds the largest share of the fermented ingredients market, while Asia Pacific is expected to register the highest CAGR in the market during the forecast period. The market growth in North America is attributed to consumer inclination toward high-protein diets and rising awareness regarding the health benefits of fermented ingredients in various industries including food and beverages, pharmaceuticals, personal care, and others. However, the COVID-19 pandemic hampered the fermentation ingredients market due to interrupted supply chains, which resulted in a shortage of raw materials and products, eventually leading to price hikes.
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The emerging applications of fermentation ingredients in personal care and cosmetic products pose significant growth opportunities for the fermentation ingredients market players. Various fermentation ingredients such as bacteria, yeast, and amino acid are used in skincare and personal care products. The fermentation method improves the level of antioxidants in personal care products which has surged its use. When incorporated in topical skincare products, the fermentation process improves the bioavailability of ingredients, which allows their deeper absorption into the skin depth. This property makes their use in skin care products meant for dry skin more suitable.
Rising awareness about the health benefits of fermentation ingredients and the growing prevalence of obesity and digestive problems are booting the fermentation ingredients market growth. These ingredients offer food and beverage manufacturers a convenient solution for the preservation of food items. Moreover, they are easy to procure. The demand for fermentation ingredients is also growing significantly in the personal care and cosmetics industry.
The fermentation ingredients market is segmented on the basis of type and application. Based on type, the market is further segmented into yeast, amino acids, organic acid, vitamins, enzymes, and others. In terms of application, the fermentation ingredients market is categorized into food & beverages, pharmaceuticals, animal feed, personal care, and others.
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