India Fermentation Chemicals Market to Grow with a CAGR of 5.51% through 2029
Growing demand of fermentation chemicals in plastics
industry is expected to drive the India Fermentation Chemicals Market growth in
the forecast period, 2025-2029.
According to TechSci Research report, “India
Fermentation Chemicals Market- By Region, Competition, Forecast
and Opportunities, 2019-2029”, the India Fermentation Chemicals Market stood at USD 4.70 billion in 2023 and is anticipated to grow with a CAGR of 5.51% in the forecast
period, 2024-2029. Initiatives taken by government based on fermentation chemicals
has led to favorable market conditions for the India Fermentation Chemicals
Market. Several factors contribute to the growth of various fermentation chemicals
products.
One of the prominent initiatives is the Ethanol
Blending Roadmap 2020-25. This program, spearheaded by the Indian government,
aims to blend locally produced ethanol with petrol, thereby reducing the
country's dependence on imported fossil fuels. By integrating ethanol into the
fuel supply, India not only strengthens its energy security but also supports
local enterprises and farmers involved in ethanol production. This initiative
also contributes to a cleaner environment by promoting the use of cleaner fuels.
In addition to the Ethanol Blending Roadmap, the
Indian government has demonstrated its commitment to innovation and
sustainability by granting significant funds for cell-based meat research. This
emerging field, which often involves fermentation processes, has gained
attention as a potential solution to address the environmental impact of
traditional meat production. The government's investment in this area
highlights the recognition of the transformative potential of cell-based meat
and its ability to revolutionize the food industry while promoting sustainable
practices.
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Fermentation Chemicals Market”
Fermentation chemicals, such as organic acids and
enzymes, play a crucial role in the production of bioplastics. These
bioplastics, derived from renewable biomass sources, offer a sustainable
alternative to traditional plastics derived from petroleum. Through
fermentation processes, biomass is converted into the necessary monomers that
form these bioplastics, ensuring a reduced environmental impact.
In addition to advancements in bioplastic production,
government regulations also contribute significantly to the adoption of
eco-friendly alternatives. For example, many countries, including India, have
implemented policies that restrict the use of traditional plastics, encouraging
the demand for bioplastics. These regulations not only address environmental
concerns but also promote the development of a circular economy, where
resources are used more efficiently, and waste is minimized.
As the global shift towards sustainability continues,
the importance of fermentation chemicals and government regulations in the
bioplastics industry cannot be understated. These factors collectively drive
innovation and pave the way for a greener and more sustainable future.
The India Fermentation Chemicals Market is segmented
into product type, application, regional distribution, and company
Based on its product type, the alcohols segment held
the largest market share in the forecast period. Alcohol, particularly ethanol,
is a versatile compound that finds extensive use in numerous industries. In the
pharmaceutical and personal care sectors, ethanol's antiseptic properties make
it a valuable ingredient, ensuring safety and hygiene in various products.
Moreover, in the food and beverage industry, ethanol serves as both a flavor
enhancer, adding depth and richness to culinary creations, and a preservative,
prolonging the shelf life of perishable goods. The diverse applications of
alcohol across these industries fuel its demand in the fermentation chemicals
market, contributing to its widespread use and significance.
Based on region, West India segment is expected to
grow during the forecast period.
West India's well-developed infrastructure and
excellent connectivity have played a significant role in reinforcing its market
dominance. The region's robust transport links, including a well-connected
network of roads, railways, and ports, ensure efficient distribution and supply
chains, which are vital for the smooth operation of various industries,
including the fermentation chemicals market. This strategic advantage allows
businesses to seamlessly transport their products across the region, reaching
customers in a timely manner.
Major companies operating in India Fermentation
Chemicals Market are:
- Sequence Biotech Pvt. Ltd.
- Biocon Limited
- LUMIS BIOTECH PVT. LTD.
- Enzyme India Pvt. Ltd.
- TCI Chemicals (India) Pvt. Ltd.
- BASF India Ltd.
- Dow Chemical International Private Limited
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“Growing application of Fermentation Chemicals in
various end user industries are key drivers of the fermentation chemicals market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of fermentation chemicals
with every passing year are anticipated to register an impressive growth to India
Fermentation Chemicals Market in the forecast period.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“India Fermentation Chemicals Market By
Product Type (Alcohols, Organic Acids, Enzymes, Others), By
Application (Plastics & Fibres, Industrial, Pharmaceutical &
Nutritional, Food & Beverages, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Fermentation Chemicals Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Fermentation Chemicals Market.
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