Market Overview:
Fermentation ingredients market in Spain will witness the significant growth due to huge demand for fermentation ingredients in the pharmaceutical and personal care products especially for antibiotics in the pharmaceutical sector and organic acids in the personal care products. The fermentation products have huge demand across wide range of pharmaceutical products, targeting practically any medical indication. Higher demand for bio-based alcohols produced through fermentation is supporting the fermentation ingredients market. Comparatively lower costs than compared to petroleum-based chemicals is encouraging bio refiners to encourage more fermentation ingredients production in Spain.
Spain fermentation ingredients market is projected to reach USD 1,530 million by the year 2023 with growth rate of 3.46%. Andalusia and Catalonia together holds more than 50% of market share in 2017 as large fermentation ingredients companies are located in Catalonia and Andalusia. , Chemical along with food and beverages application holds more than 60% market share in the year 2017. In Spain, major share of fermentation ingredients is used by chemical and pharmaceutical industry. Pharmaceutical is projected to grow at higher rate during the forecast period. Pharmaceutical and animal feed together holds more than 30% of market share in the year 2017 due to increasing demand of fermentation ingredients in pharmaceutical sector.
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On the basis of type, Alcohol (i.e. Ethanol, butanol, BDO and Acetone) and Antibiotics (i.e. Beta-lactam, tetracycline and clavulic acid) fermentation ingredients holds more than 50% market share in the year 2017 as in Spain majority of fermentation ingredients is used for chemical and pharmaceutical application. Amino acid is projected to reach at higher rate of during the forecast period. Polymers and organic acids together holds more than 30% of market share in the year 2017due to increasing demand of polymer over organic acid in Spain.
There has been strong demand for fermentation ingredients in the food and beverage industry mainly in the baking products and beverages. Use of fermentation ingredients enable enhanced nutrition in foods and beverages. Hence, there has been higher demand for probiotics. Higher demand for clean fuel is supporting ethanol market which is creating higher demand for ethanol.
Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major Fermentation Ingredients market players present in Spain. It further includes product portfolios, developments of leading major players which includes.
- Archer-Daniels-Midland Co
- The Dow Chemical Co
- Cargill, Incorporated
- E.I. du Pont de Nemours & Co
- Evonik Industries AG
- Novozymes A/S and
- Uquifa
Key players are focusing on expansion of their fermentation ingredient business. From six years, strategy of product launch and expansion of the fermentation ingredients business together holds around 50% of strategy share by key players. Acquisitions and agreement are two main factors which are contributing more than 40% of strategy share as it helping company to enhance their fermentation ingredients production capacity and to capture more market share in Spain and other regions in Europe.
Industry Segment:
Spain Fermentation Ingredients market is segmented by type which includes Alcohol. Amino acid, Antibiotics, Polymer, Vitamins, Enzymes, Organic acid and Others
Spain Fermentation Ingredients market is segmented by form which includes dry, liquid and others
Spain Fermentation Ingredients market is segmented by application which includes Chemical, Food & beverages, Pharmaceutical, Animal Feed and Others
Spain Fermentation Ingredients market is segmented by feedstock which includes Sugar beet, Wheat, Corn and Other
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Key Findings:
The Spain Fermentation Ingredients market is projected to reach USD 1,530 million by 2023 of 3.46%
In Spain, application of fermentation ingredients in pharmaceutical is growing at higher rate of 3.83%
In Spain., Alcohol fermentation ingredients type holds the major market share for the year 2017
Regional and State wise Analysis of Spain Fermentation Ingredients market Development and Demand Forecast to 2023 Market
Reports Also Cover Region Level Analysis:
Spain:
- Andalusia
- Catalonia
- Madrid
- Valencian Community
- Rest of Spain
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