Market Overview:
The global fermenters market size stood at USD 1.64 billion in 2023. The market is set to grow from USD 1.71 billion in 2024 to USD 2.63 billion by 2032, exhibiting a CAGR of 5.51% during the forecast period.
In the food industry, fermenters are used for improving the shelf life and sensory attributes of a food item. They are anticipated to record a burgeoning demand over the coming years with an upsurge in the number of microbreweries and craft breweries.
List of Key Players Mentioned in the Report:
Bioengineering AG (Switzerland)
DIOSNA Dierks & Söhne GmbH (Germany)
Pierre Guerin (France)
SYSBIOTECH GmbH (Germany)
CETOTEC GmbH (Germany)
Sartorius AG (Germany)
GEA Group (Germany)
Solaris Biotech (U.S.)
Biotree (India)
Electrolab Biotech (U.K.)
Segmentation:
Semi-Automatic Segment Registers Dominating Share Owing to Advantage of More Control
By the mode of operation, the market is divided into semi-automatic and automatic. The semi-automatic segment accounts for the largest market share. The mode of operation provides more control during the production of various chemicals and beverages, which drives its adoption.
Continuous Segment to Expand at the Highest Growth Rate Due to Benefit of More Product Yield
Based on process, the market is fragmented into batch, fed-batch, and continuous. The continuous segment is slated to surge at the highest growth rate over the analysis period. The advancements in the fermentation process and benefits such as more product yield and minimal operational costs are propelling segment growth.
Stainless Steel Segment Accounts for Leading Share Due to its Reusability and Cost-efficiency
On the basis of material, the market is subdivided into glass, stainless-steel, and others. The stainless steel segment holds a major share in the global market and is set to rise at the highest CAGR over the analysis period. This is driven by the benefits of cost-efficiency and reusability offered by the material.
Food Segment to Exhibit the Highest CAGR Driven by Mounting Popularity of Plant-based Foods
On the basis of application, the market is segmented into food, healthcare & cosmetics, beverages, and others. The food segment is poised to depict the highest CAGR over the analysis period. The fermenters demand is rising impelled by the escalating popularity of plant-based food products across the globe.
By geography, the market for fermenters has been studied across Europe, North America, South America, Asia Pacific, and the Middle East & Africa.
Source: https://www.fortunebusinessinsights.com/fermenters-market-110183
Report Coverage:
The report gives an insight into the prominent strategies deployed by major industry players to gain an edge over their competitors. Other aspects include the latest trends and the pivotal factors set to propel industry expansion. An analysis of the industry on the basis of various segments has also been furnished in the report. The market has been analyzed based on the mode of operation, application, material, process, and geography.
Fermenters Market Future Outlook
Growing Demand for Biotechnology: The rise in biotechnology applications is driving the need for advanced fermenters. These devices are essential for producing enzymes, antibiotics, and other bioproducts.
Increased Focus on Sustainable Practices: Industries are shifting towards sustainable production methods. Fermenters offer eco-friendly solutions by utilizing renewable resources for biofuel and bioplastics production.
Technological Advancements: Innovations in fermentation technology are enhancing efficiency and scalability. This makes it easier for companies to meet increasing production demands while reducing costs.
Expansion in Food and Beverage Sector: The fermentation process is crucial in the food industry. With the popularity of fermented foods, the market for fermenters is expected to grow significantly.
Drivers and Restraints:
Favorable Government Policies to Propel Industry Growth
The globally mounting demand for cultivated and plant-based meat has led the governments of various countries to support industry players in a bid to secure more food safety. There has been a rise in government investments in numerous phases of dairy and meat analogs. These factors are set to propel product demand, driving fermenters market growth.
Nevertheless, the industry expansion could be restrained owing to the high costs associated with product installation.
Regional Insights:
Asia Pacific Accounts for Prominent Share Driven by Soaring Demand for Plant-based Meat and Dairy Products
In 2023, the Asia Pacific market value hit USD 0.60 billion. The regional fermenters market share bags a leading position in the global market as plant-based meat and dairy products gain traction in various countries.
The Europe market is touted to grow owing to the presence of supportive government policies. Besides, the region records a high number of breweries in Italy and France.
Competitive Landscape:
Industry Players Focus on Acquisitions and Mergers to Strengthen Market Positions
Industry participants are undertaking various strategies to increase their clientele base. Acquisitions, mergers, and partnerships are some of the steps deployed by industry players to establish a strong market footing. Solaris Biotech and Pierre Guerin are a few of the major players in the fermenters market.
Key Industry Development:
May 2023 – Wacker Group acquired all shares of ADL Biopharma for EUR 100 million (USD 107.18 million). The move would help the company’s expansion in the field of sustainably produced dietary ingredients.