FERMENTATION CHEMICALS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Fermentation Chemicals Market Analysis:

The global market for fermentation chemicals is anticipated to reach USD 185.51 billion by the conclusion of the current year, with a projected increase to USD 232.29 billion within the next five years. This growth is expected to be driven by a compound annual growth rate of over 4.6% during the forecast period.

The COVID-19 pandemic had a detrimental effect on the fermentation chemicals market, but it has since made a significant recovery in 2021.

In the short term, the growth of the methanol and ethanol industry, as well as the increasing demand from the pharmaceutical industry, are the primary drivers of the market’s expansion. However, the high costs associated with the intricate manufacturing process may impede the market’s growth. Nonetheless, the emergence of green chemistry opportunities is expected to create lucrative growth prospects for the global market in the near future.

The North American region dominates the fermentation chemicals market, with the United States, Canada, and Mexico being the largest consumers.

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