Widespread adoption of biological process such as fermentation in boosting the nutritional value of ingredients has been instrumental in defining the current state of global food & beverage sector. Fermented ingredients have garnered surplus demand, even beyond their conventional food-making applications. Cosmetics derived from fermented ingredients are showing remarkable effectiveness in terms of improving the overall skin health.
Consumers are showing interests towards products made from fermented ingredients. The key role of fermented ingredients in boosting the bioavailability of overall product is also anticipated to fuel their sales. By the end of 2022, the global sales of fermented ingredients are expected to reach US$ 40 Bn, according to Persistence Market Research.
A new study published by Persistence Market Research projects that global market for fermented ingredients will record a robust expansion during the forecast period, 2017-2022, registering more than 7% CAGR in terms of value. Increasing demand for probiotics, coupled with rising preference for nutrition-rich food, are expected to be among key factors driving the growth of global fermented ingredients market.
North America to Record Highest Sales
According to the key findings compiled in this report, North America is predicted to remain the largest market for fermented ingredients. US-based food & beverage manufacturers are expected to remain active in expansion of global fermented ingredients market during the forecast period. In 2017, sales of fermented ingredients in the US and Canada are estimated to bring in more than US$ 12 Bn in revenues. Europe is also observed as a lucrative market for fermented ingredients. Between 2017 and 2022, Europe’s fermented ingredients market is poised to create an incremental opportunity of more than US$ 3 Bn. Japan will have the smallest share on global revenues, while sales of fermented ingredients in Asia-Pacific excluding Japan (APEJ) region will reflect strong CAGR during the forecast period.
Key Insights on Future of Global Fermented Ingredients Market
- In 2017, amino acids and organic acids are collectively expected to hold more than 45% share on global revenues
- Food and beverage production will be the largest application for fermented ingredients
- Manufacturers will also focus on boosting the applicability of fermented ingredients in pharmaceuticals production
- Anaerobic fermentation is expected to account for a little over 11% on global market value, while aerobic fermentation process will witness a relatively high demand
- Batch fermentation will be a sought-after process, bringing in revenues worth over US$ 16 Bn over the forecast period
- By 2022-end, over US$ 24 Bn worth of fermented ingredients sold in the global market will be in dry form
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The report has also profiled key players partaking in the global market for fermented ingredients. These include, AngelYeast Co., Ltd., BASF SE, Associated British Foods Plc., Döhler Group SE, Cargill Inc., E.I. duPont de Nemours and Co., Ingredion Incorporated, Frutarom Industries Ltd., Kerry Group Plc., Lonza Group AG, and Lallemand Inc. Majority of companies are expected to focus on product launch by trying out fermentation of new ingredients in fresh conditions. Some companies are also expected to boost their R&D purview and obtain new variety of fermented ingredients.