Spain Fermentation Ingredients Market Competitors, Growth Opportunities, and Forecast 2030
Spain Fermentation Ingredients Market Overview:
The Spain fermentation ingredients
market, as discussed in the report of Market Research Future (MRFR) is expected
to rise by 5.8% during the forecast period (2022-2030) and reach a valuation of
USD 1,578 million by the end of 2030.
Fermentation brings in chemical changes via
the metabolic process. The process requires enzymes and works well in organic
substrates. Microorganisms present in the food brings in the desirable change.
The Spanish market gets maximum production for such ingredients from Andalusia
and Catalonia provinces. These two regions, as of 2017, produce almost 50% of
the total Spanish fermentation ingredients production. MRFR in their report on
the Spain
fermentation ingredients market puts special emphasis on the segments that
give a proper view of the entire market both volume-wise and value-wise.
Simultaneously, the Spain fermentation ingredients market report includes a
detailed analysis of the factors that can play vital in the growth of the
market in the coming years.
Among the major factors, increasing
awareness for personal care products and a rising preference for fermented food
and beverages can provide the Spain fermentation ingredients market with a
solid foundation during the forecast period. The market is also gaining strong
traction from the pharmaceutical sector. The production system is also turning
eco-friendly in many ways which are supporting the global call for sustainable
products.
Competitive Landscape:
The Spain
fermentation ingredients key market players, as reported by MRFR in their
report, are Archer-Daniels-Midland Co., The Dow Chemical Co., Cargill,
Incorporated, I. du Pont de Nemours & Co., Evonik Industries AG, Novozymes
A/S, and Uquifa.
Segmentation:
MRFR segments the entire Spain fermentation
ingredients market overview by type, form, application, and feedstock for a
comprehensive overview of the market in the coming years.
Based on type, the Spain fermentation
ingredients market can be segmented into alcohol, amino acids, antibiotics,
polymers, vitamins, enzymes, organic acids, and others. The alcohol and
antibiotics segments hold the maximum market share together; they claim
prominence over almost 50% of the total market share due to their high intake
in the pharmaceutical sector. Polymers and organic acids are also enjoying
substantial traction.
Based on the form, the Spain fermentation
ingredients market ca be segmented into dry, liquid, and others. Liquid form
has control over almost 55% of the entire market value due to the high intake
of alcohol and organic acid as ingredients. But the rise in polymer intake can
boost growth in dry form during the forecast period.
Based on the application, the Spain
fermentation ingredients market includes chemicals, food & beverages,
pharmaceuticals, animal feed, and others. Growth in the intake of personal
products can boost the market substantially. Pharmaceuticals can also ensure
the future growth of the market.
Based on the feedstock, the Spain
fermentation ingredients market comprises sugar beet, wheat, corn, and others.
Rising demand for fermented foods and beverages can trigger segmental growth.
Regional Analysis:
Andalusia, Catalonia, Madrid, the Valencian
Community, and the Rest of Spain are the five major geographic regions that
make up the Spain fermentation ingredients market size.
Andalusia and Catalonia are two provinces
with great growth prospects. These regions grow more than 50% of the total
fermentation ingredients produced in the market. Andalusia is known for its
production of several chemical products that have huge traction in the
pharmaceutical sector. Madrid is expected to witness significant growth during
the forecast period. With the Valencian community, the region covered almost
35% of the entire market in 2017. The Valencian province can provide
substantial growth to the Spain fermentation ingredients market by acquiring a
moderate CAGR during the forecast period.
Industry News
In 2018, Senofyx declared that its research
and development team had achieved a way out that can produce siratose from monk
fruit. The new product is evidently more potent, better-tasting, soluble, and
stable in low pH beverages than the original monk fruit. This can substantially
impact the soft drinks production worldwide, and Spain can benefit grandly.
Contact us:
Market Research Future (part of Wantstats Research and Media Private
Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States
of America
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