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Fermented Ingredients Market 2024-2033 - Size, Share, Trends & Forecast Analysis
Fermented Ingredients Market
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According to The Business Research Company's, The fermented ingredients market size has grown strongly in recent years. It will grow from $35.08 billion in 2023 to $38.11 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increased consumer demand for natural and clean label ingredients, growth awareness of the health benefits of fermented foods, rising demand for functional and nutrient-rich ingredients, expansion of food and beverage industry and product innovation, need for food preservation and shelf-life extension, demand for alternative protein sources (e.g., fermented plant-based proteins).
The fermented ingredients market size is expected to see strong growth in the next few years. It will grow to $54.44 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to adoption of fermented ingredients in the pharmaceutical and nutraceutical industries, emphasis on sustainable and eco-friendly food production practices, research and development in fermented ingredients for personalized nutrition, need for reduced sugar and salt alternatives in food formulations, expansion of fermented ingredients in animal feed and pet food industries. Major trends in the forecast period include fermented plant-based proteins, artisanal and small-batch fermentation, clean label and minimal processing, precision fermentation and biotechnology, fermented ingredients in personal care and cosmetics.
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Market Drivers and Trends:
The increasing prevalence of digestive problems and obesity is expected to propel the growth of the fermented ingredient market. Fermented ingredients are a source of lactic acid bacteria, which restores and supports the digestive system. Furthermore, fermented ingredients also help in reducing blood pressure and improving cholesterol levels. For instance, in March 2022, according to the World Health Organization, a Switzerland-based agency, 650 million adults, 340 million teenagers, and 39 million children will be obese. This quantity is still rising, and the WHO predicts that by 2025, 167 million adults and children will become overweight or obese. Rising health-related concerns, as well as shifting consumer preferences toward fermented and healthy foods and lifestyles, are expected to boost demand for fermented ingredients during the forecast period.
The use of sustainable alternatives in fermented ingredients is a key trend gaining popularity in the market. The use of bioreactors instead of using animals and fields for food production requires fewer environmental inputs, especially water and land. For instance, Finland-based VTT Technical Research Centre uses fungus to create nature-identical egg white protein. Fermentation can be used to make a range of foods by cultivating plant cells, including avocado, cocoa, or berries. Also, Netherlands-based The Protein Brewery makes meat alternatives from fungi under its Fermotein brand.
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Major Key Players of the Market:
Lallemand Inc., Chr. Hansen Holding A/S, Ajinomoto Co. Inc., BASF SE, DuPont de Nemours Inc., Döhler Plc, Cargill Inc., Angel Yeast Co. Ltd., Vander Mill LLC, Citizen Cider LLC, India Cocoa Pvt. Ltd., Red Boat Trading Co. Ltd., Squid Ltd., Angel Yeast Co. Ltd., E.I. du Pont de Nemours and Company, International B.V, Kerry plc, DIANA Group Ltd., Olam International Ltd., Koninklijke DSM NV, Associated British Foods plc, Angel yeast Co. Ltd., Bakel Group, Lactobacillus, Chr. Hansen Holding A/S, Orkla ASA, Kyowa Hakko Kirin Co. Ltd., Evonik Industries AG, Riken Vitamin Co. Ltd., Oleon NV, Zhengzhou Honest Food Co. Ltd., Stepan Company, Dohler Group SE
Fermented Ingredients Market 2024 Key Insights:
• The fermented ingredients market size is expected to see strong growth in the next few years. It will grow to $54.44 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• Increasing Digestive Health Concerns And Obesity Drive Fermented Ingredient Market Growth
• Growing Sustainable Alternatives Enhance Fermented Ingredients Market
• North America was the largest region in the fermented ingredients market in 2023
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