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|World Markets for Fermentation Ingredients to Reach $28.4B by 2022|
|Writer : 관리자(@) Date : 18.02.19 Hit : 1505|
World Markets for Fermentation Ingredients to Reach $28.4B by 2022
BCC Research Estimates 3.4% CAGR from 2017-2022
A growing global population, rising per-capita incomes and expanding food production operations in developing regions are pushing growth in the global market for fermentation ingredients. In a new report World Markets for Fermentation Ingredients, BCC Research estimates this market to reach $24.0 billion and $28.4 billion in 2017 and 2020, respectively, indicating a compound annual growth rate (CAGR) of 3.4%.
BCC Research forecasts the market to decline to $24.0 billion in 2017 from $24.5 billion in 2016 due to fluctuations in commodity pricing and changes in purchase orders and/or consumption patterns that affect buying contracts. Crude antibiotics, amino acids and polysaccharides have witnessed growth over the year, but not enough to offset the declines in the organic acids, industrial enzymes and vitamins segments. Among segments, amino acids lead with a 39% contribution, followed by industrial enzymes with 26%. The organic acid market is expected to rebound as pricing stabilizes and production matches demand at a better rate. Crude antibiotics will witness strong growth over the forecast period, driven by demand in the pharmaceutical industry.
The market involves more than 200 suppliers, but only 30 companies produce sales of more than $100 million annually. Companies exceeding $300 million have a 1% market share or greater, and those with more than $400 million have nearly a 2% market share in the $24 billion global market.
“Markets for virtually all of these categories have expanded at respectable levels, but the production landscape has continued to evolve with some major changes,” said Melissa Elder, BCC Research analyst and author of the report. “The Asia-Pacific region has been the largest market for fermentation products over the last decade, and the gap between it and other regions is widening due to the strong position of some domestic products such as MSG?an Asian product?as well as the strong growth of most other products like lysine in the Asia-Pacific region.”
By BCC Research
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