Facts & Factors

Global Microbial Fermentation Technology Market Set for Rapid Growth, to reach Value around USD 2,244.20 Million by 2023

News   •   Mar 19, 2018 09:20 EDT

Zion Market Research has published a new report titled “Microbial Fermentation Technology Market by Product Type (Medical Products, Industrial Products, Alcohol Beverages, and Food and Feed Products) and by End Users for Bio-Pharmaceutical Industries, Food and Feed Industry, CRO’s and CMO’s, Academic Research Institutes and Others: Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023”. According to the report, global microbial fermentation technology market was valued at approximately USD 1,573.15 million in 2017 and is expected to generate revenue of around USD 2,244.20 million by end of 2023, growing at a CAGR of around 6.10% between 2017 and 2023.

Fermentation technology is a field which involves the use of microorganisms and enzymes for production of compounds which have application in the energy, material, pharmaceutical, chemical and the food industries. Though fermentation processes are used for generations for the requirement for sustainable production of materials and energy is demanding creation and advancement of novel fermentation processes. Efforts are directed both to the advancement of cell factories and enzymes as well as of design of new processes, concepts, and technologies for the fermentation process. Through microbial fermentation technologies, companies can produce enzymes for industrial purposes.

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Modern industry has complemented the basic principle of fermentation technology with advances in genetic engineering by extending applications to produce vast range products in the biotechnology sector. Moreover, rising petrol prices and depleting reserves of fossil fuels have diversified applications of the microbial fermentation process in the chemical sector to provide products such as alcohols, enzymes, amino acids, alkaloids, and other categories. The rising global demand for these products is likely to play a key role in helping the global microbial fermentation market expand at a promising pace in the next few years.

The microbial fermentation technology market is segmented on the basis of product type into medical products, industrial products, alcoholic beverages and food and feed products. Medical products are further sub-segmented into antibiotics, probiotics, monoclonal antibodies, recombinant proteins and other biosimilars. Alcohol beverages segment is expected to grow at the highest CAGR in the global market over the forecast period.

Bio-pharmaceutical industries, food and feed industries, CRO’s and CMO’s, academic research institutes and others category are the key end-user segments of the global microbial fermentation technology market. The biopharmaceutical industries segment dominated the market in terms of revenue in 2017.

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North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global microbial fermentation technology market. The Asia Pacific is anticipated to remain the leading region accounting for nearly 40% market share. The growth of this regional market is attributed to the vast rise in geriatric population, a well-established chemical industry in China, cutting-edge research in the field of biotechnology and healthcare, and changing lifestyles in developing nations. North America and Europe represent moderate growth opportunities thus proving to be the promising targets for companies in the microbial fermentation technology market in these regions.

Some of the key players in microbial fermentation technology market include Biocon, Danone Ltd, Lonza, United Breweries Ltd, Amyris, Novozymes, TerraVia Holdings, Inc., BioVectra, DSM, F. Hoffmann La-Roche Ltd. and others. Key parameters affecting competition are rapid adoption of advanced options and rising need for optimum capital utilization. Also, major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio.

This report segments the global microbial fermentation technology market as follows:

Global Microbial Fermentation Technology Market: Product Type Segment Analysis

  • Medical Products
  • Antibiotics
  • Probiotics
  • Monoclonal Antibodies
  • Recombinant Proteins
  • Other Biosimilars
  • Industrial Products
  • Alcohol Beverages
  • Food and Feed Products

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Global Microbial Fermentation Technology Market: End-User Segment Analysis

  • Bio-Pharmaceutical Industries
  • Food and Feed Industries
  • CROs and CMOs
  • Academic Research Institutes
  • Others

Global Microbial Fermentation Technology Market: Regional Segment Analysis

  • North America
  • The U.S.
  • Europe
  • UK
  • France
  • Germany
  • Asia Pacific
  • China
  • Japan
  • India
  • Latin America
  • Brazil
  • The Middle East and Africa

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