The global fermented ingredients market size is expected to reach USD 39.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.5% over the forecast period. Increasing digestive problems and awareness among consumers about health benefits of fermented products are expected to drive the market in the forecast period. Moreover, usage of fermented ingredients as preservatives by various manufacturers in order to increase the shelf life of various products is expected to propel the demand for the product.
The food and beverage application segment dominated the market and accounted for more than 65.0% share of the overall revenue in 2018. Growing demand for alcoholic beverages such as beer and wine, which are prepared by fermenting wheat, rice, and grapes, is driving the food and beverage industry. Furthermore, increasing consumption of yogurt, cheese, and pickles in various regions is a key factor boosting the industry growth.
Pharmaceuticals is the fastest growing application segment with a CAGR of 9.3% in the forecast period. The ingredients find their major application in the bio-pharma industry, which has witnessed robust growth in the last few years. Bio-pharmaceuticals contributes more than 25.0% share of the overall pharmaceutical industry, thus driving the market in the forecast period.
Vinegar is the most commonly used ingredient for fermentation and it accounted for more than 40.0% share of the overall revenue in 2018. The product finds its major application in household as well as food and beverage industry due to its easy availability and low cost. Cider is likely to be the fastest growing ingredient in the market with a CAGR of 9.2% over the forecast period. Increasing awareness about the benefits and its application in skin care is driving the product segment.
In 2018, Europe accounted for the largest fermented ingredients market share of 35.0% in terms of revenue. High consumption of wine, cheese, and yogurt is a key factor driving the regional market. Asia Pacific is anticipated to be the fastest growing regional market, expanding at a CAGR of 9.6% in the forecast period. Increasing awareness about health benefits and consumption of alcoholic beverage are the prominent factors boosting the regional market growth.
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https://www.grandviewresearch.com/industry-analysis/fermented-ingredients-market
Further key findings from the study suggest:
- By application, food and beverage is projected to expand at a revenue-based CAGR of 8.6% over the forecast period
- The vinegar product segment dominates the fermented ingredients market owing to its major application in household as well as food and beverage industry
- The cider product segment is expected to expand at a CAGR of 9.2% in the forecast period owing to increasing awareness about product benefits and application among consumers.
For more information: www.grandviewresearch.com
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