The global fermentation chemicals market is predicted to have a moderate growth rate of 5% between 2022 and 2032. Net worth of the market is expected to reach U.S. $123.9 billion by 2032, increasing from U.S. $71.8 billion in 2021, according to research from Fact.MR.
Examples of this growth can be found in Evonik Industries AG, which opened a rhamnolipids manufacturing plant in January of 2022. In the approaching decade, this industrial production facility for bio-based and biodegradable rhamnolipids is predicted to increase the fermentation chemicals market share in the cosmetics and toiletries segment.
To lessen the global reliance on petrochemicals, major businesses have changed their attention to bio-based raw materials, benefitting development for the fermentation chemicals key trends and opportunities, according to Fact.MR.
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The degradability of petrochemicals-based goods is the major factor driving the fermentation chemicals adoption trends, per Fact.MR. Organic acid, which has antibacterial and antifungal effects, is in high demand in the nutrition and animal feed industries.
The U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DOE) have enforced regulations on greenhouse gas (GHG) emissions from chemical plants. As a result, attention has switched to biological methods for chemical or acid production, creating an opportunity for fermentation chemicals market growth.
Unavailability of organic base materials due to logistic or source constraints is anticipated to slow down the fermentation chemicals market growth. Because organic feedstock is unavailable, many end-use industries choose to utilize synthetic substrates for chemical production processes, causing a greater concern over the fermentation chemicals market trends and forecast.