Pune, July 12, 2024 — The Fermentation Chemicals Market Size is projected to reach USD 132.04 billion by 2032 and grow at a CAGR of 7.54% over the forecast period of 2024-2032.
For example, Evonik Industries announced the release of “Vecollan,” a very pure and soluble collagen made through fermentation, in July 2022. This collagen is not obtained from animals. Its triple-helix structure, which is derived from a fermentation-based production technique, replicates the characteristics of natural collagen and makes it appropriate for use in pharmaceutical, medical, and other life science applications.
The food and beverage business has a strong demand for fermentation chemicals since it is the oldest biotechnology that humans have utilized to generate safer, more stable, and superior food products.The industrial application dominated the market with the highest revenue share of more than 43% in 2023. The high proportion can be attributed to rising biotechnology, research and development, and production from renewable raw materials investments.