Fermentation Chemicals Market Size, Share & Trends Report

Fermentation Chemicals Market Size, Share & Trends Analysis Report By Product (Alcohol, Enzymes, Organic Acid), By Application (Industrial, Food & Beverages, Plastic & Fibers), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-336-2
  • Number of Pages: 125
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the fermentation chemicals market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for fermentation chemicals market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of fermentation chemicals market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Fermentation Chemicals Market Categorization:

The fermentation chemicals market was categorized into three segments, namely product (Alcohols, Enzymes, Organic Acids), application (Industrial Application, Food & Beverages, Nutritional And Pharmaceutical, Plastics And Fibers), region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa)

Segment Market Methodology:

The fermentation chemicals market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The fermentation chemicals market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seven countries, namely, the U.S.; Germany; the UK; France; China; India; Japan.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Fermentation chemicals market companies & financials:

The fermentation chemicals market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • BASF SE -BASF SE is a Germany-based chemical production company. The company operates through five business segments, namely performance products, chemicals, agricultural solutions, functional materials & solutions, and oil & gas. The product portfolio of chemicals segment includes intermediates, monomers, petrochemicals, and catalysts. The company specializes in manufacturing ingredients such as enzymes and industrial enzymes for industrial applications, animal nutrition, grain processing, home care, oilfield solutions, industrial & institutional solutions, pulp & paper, and several other sectors. It operates through its subsidiaries and joint ventures in over 80 countries with more than 353 production sites spread across the globe. The company also has 13 operating divisions and around 84 sub-business units worldwide.

  • Novozymes - Novozymes is a prominent player in bio-innovation. The company’s key business is industrial enzymes and microorganisms. It discovers enzymes in nature and improves them for further use in over 40 end-use industries. The company’s enzymes are broadly used in dishwashing & laundry detergents; food & beverage sector, especially in beer production; animal feed; and for the production of biofuels. It has its production facilities in Denmark, Brazil, Argentina, China, Canada, the U.S., and India. Other than production units, the company has sales offices and affiliates in over 30 countries.

  • DuPont Danisco - DuPont Danisco operates through three business divisions, namely food & beverages, dietary supplements, and pet food. The company is engaged in the manufacturing of a wide range of products such as enzymes, fibers, emulsifiers, antioxidants, cellulose, probiotics, soy lecithin, soy protein sweeteners, and vitamins. It was acquired by DuPont in January 2011 for approximately USD 6.3 billion. Food ingredients and enzymes are combined with DuPont’s business divisions, namely ‘Nutrition and Health’ and ‘Industrial Biotechnologies,’ respectively, and the company markets enzymes under the brand DuPont Danisco.

  • DSM - DSM is a global science-based company active in nutrition, health, and materials. The company caters its products to numerous industries such as animal nutrition & health, food & beverage, energy, medical, paints & coatings, life protection, personal care, and sports & leisure. It operates through three clusters, namely nutrition, materials, and innovation center. The company’s nutrition cluster is responsible for the production and marketing of enzymes used for various applications. The company operates through more than 200 manufacturing sites, distribution centers, and corporate offices in over 50 countries.

  • Amano Enzymes USA Co., Ltd.  - Amano Enzymes USA Co., Ltd. is engaged in the production of high-quality specialty enzymes for several end use industries including dietary supplements, and food & beverages. It is a subsidiary of Amano Enzymes Inc, which has its headquarters in Japan. The company caters to a wide range of end use industries such as biomedical, dietary supplements, food, industrial, and custom. It also offers animal organ extracts as well as non-GMO enzymes in North America, Europe, and Asia Pacific. These enzymes are also used in starch processing, protein processing, oil & fat processing, yeast extract manufacturing, and others.

  • AB Enzymes - AB Enzymes is a diversified international retail, food, and ingredients group. The company operates through five business segments, namely sugar, grocery, ingredients, agriculture, and retail. It has manufacturing units across the globe and functions in over 50 countries. AB Enzymes is an industrial biotech firm affiliated to ABF Ingredients, which is a subsidiary of Associated British Foods plc and is specialized in manufacturing and distribution of enzymes for several industrial applications. The company manufactures enzymes for end-use industries including food & beverage, paper & pulp, animal feed, textiles, and detergent, among others.

  • Chr. Hansen Holding A/S - Chr. Hansen Holding A/S is a leading bioscience company involved in the development of natural ingredient solutions for agricultural, pharmaceutical, nutritional, and food industries. The company also develops and produces natural colors, probiotics, and cultures for a wide range of plant protection, animal feed, dietary supplements, and food & beverages applications. Its product innovation is based on 30,000 types of microbial strains. The company manages operations through three business segments namely food cultures and enzymes segment, which is involved in the production of meat and wine cultures, bioprotection products, dairy enzymes, dairy cultures; health and nutrition segment, which provides solutions related to human microbiome, plant health, and animal health; and natural colors segment, which caters products, which are used in beverages, prepared food, dairy and fruit preparations, and confectionery and ice-creams.

  • Dow - Dow is an innovation-driven company that caters to different markets such as agriculture, automation, building & construction, consumer, electronic materials, energy & water, industrial, infrastructure, packaging, and product safety. The company has divided its business into five segments, namely agricultural sciences, consumer solutions, infrastructure solutions, performance materials & chemicals, and performance plastics. Its product portfolio includes over 7,000 product families that are manufactured at 189 sites in 34 countries. The company manufactures a variety of fermentation chemicals through performance materials & chemicals segment. It produces fermentation chemicals, such as organic acids and amino acids, through fermentation process.

  • Evonik Industries AG - Evonik Industries AG is a global manufacturer and supplier of specialty chemicals. The company operates through four different business divisions, namely resource efficiency, nutrition & care, service segment, and performance materials. It operates in over 100 countries through strategically located production plants in 25 countries. The company’s nutrition & care segment offers specialty chemicals, including ceramides, amphoteric surfactants, solid chemistry products, quaternary derivatives, organically modified silicones, and super absorbents, for applications in animal nutrition, consumer goods, and healthcare sectors. Its technology & infrastructure unit comprises site operation, utilities & waste, technical services, logistics, process technology, and engineering.

  • Cargill, Incorporated - Cargill, Incorporated is a privately held multinational company involved in trade, purchase, and distribution of grain and other agricultural commodities, and primarily serves agriculture, food, financial, and industrial markets. It offers various solutions, such as inputs, expertise, and risk management tools, to small-scale and large-scale farmers and processed agricultural commodities for food, feed, and fuel additives. The company operates its business across North America, Latin America, Europe, the Middle East & Africa, and Asia Pacific. The company operates in almost 70 countries serving customers with several products and solutions pertaining to agriculture, animal nutrition, industrial and bio-industrial sector, food & beverages, food service, meat products, beauty, pharmaceuticals, and transportation.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Fermentation Chemicals Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Fermentation Chemicals Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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