SAN FRANCISCO, June 9, 2016 /PRNewswire/ —
The global fermentation chemicals market is expected to reach USD 81.14 billion by 2024, according to a new report by Grand View Research, Inc. The ability of fermentation chemicals to accelerate the process for the preparation of various products and facilitating cost reduction is expected to remain a key driving factor for the global market.
Favorable regulations proposed by European Commission and EPA promoting green chemistry are also expected to have a positive influence on the market growth. Increased consumer awareness regarding bio-based products has also benefitted the market growth.
Intermittent raw material supply is expected to remain a key challenge for market participants. Process complexity involved in fermentation chemical production also adds to the increased product cost. The high cost of these chemicals is expected to restrain the market growth.
Alcohol emerged as the leading product segment with demand share exceeding 55% in 2015. As alcoholic beverages are produced by fermenting grains, fruits, etc. there has been an increasing demand for fermentation chemicals. Organic acids are expected to witness the highest growth of 5.2% from 2016 to 2024. Increasing demand for amino acid both for human and animal consumption is expected to drive this segment over the forecast period.
Browse full research report with TOC on “Fermentation Chemicals Market Analysis By Product (Alcohols, Enzymes, Organic Acids), By Application (Industrial, Food & Beverages, Nutritional & Pharmaceuticals, Plastics & Fibers) And Segment Forecast To 2024“ at: http://www.grandviewresearch.com/industry-analysis/fermentation-chemicals-market
Further key findings from the report suggest:
Grand View Research has segmented the global fermentation chemicals market on the basis of product, application and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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