The fermentation chemicals are tailored to utilize sugary components present in the raw feedstock, followed by their conversion into industrial byproducts such as commercial enzymes, alcohol, organic acids or gases. The fermentation chemicals operate in the absence of oxygen and uses microorganisms to manufacture industrially valuable products. The robustly growing biotechnology industry, ongoing industrialization, rising urbanization and increasing alcohol consumption in the country are some of the factors which would positively influence the India Fermentation Chemicals Market through 2026. Moreover, the favorable regulations by the Government of India would further augment the demand for eco-friendly fermentation chemicals in India.
Snapshot of Top 3 Product Types in India Fermentation Chemicals Market:
Alcohol: Growing working age population, rising per capita income, changing lifestyle of the consumers are fueling the consumption of alcoholic beverages in the country which in turn is driving the demand for fermentation chemicals. Moreover, with the alcohol becoming a crucial part of socializing activities in bars, cafes, pubs and lounges, the increasing footfall of students at such hubs is further accelerating alcohol consumption, consequently boosting the India fermentation chemicals market. For instance, the per capita consumption of beer in the country in 2016 rose to 4.6 liters as compared to 1.5 liters in 2015. As a result, the growing application of fermentation chemicals in the alcohol product segment is reflecting positive growth trend for the Indian fermentation chemicals manufacturers.
India PBCL Market Size, By Value (USD Billion)
Source: TechSci Research Estimates
Organic Acid: Organic acids majorly find its application in food & beverage, agriculture, chemicals and animal feed processing industries. Rising consumer per capita income has increased the living standards and spending power of the consumers and therefore drives the demand value added food products in India. Rising production base of the food & beverage industries coupled with increasing government initiatives to boost the growth of agriculture and food industry is anticipated to strengthen the growth of organic acids in the country. As a result, the growing consumption for the food, beverage along with drugs and other products propel the demand for various types organic acids as they have various functional properties which is expected to propel the India Fermentation Chemicals Market.
India Organic Acid Market Size, By Volume, 2016-2026F (‘000 Metric Ton)
Source: TechSci Research Estimates
Industrial Enzymes: The rapid scale of industrialization in India is escalating the consumption of varied types of industrial enzymes in numerous end-use applications ranging from food and beverage, household care, animal feed processing, to pharmaceuticals. As reported by TechSci Research, the India Industrial enzymes market is forecast to surpass US$ 361 million by 2020 on account of increasing food processing facilities, growing number of tanneries and rising textile manufacturing facilities in the country, which would tremendously affect the demand curve of fermentation chemicals as well.
In conclusion, the India Fermentation Chemicals market is expected to demonstrate steady growth over the coming years on account of growing demand from the healthcare industry of the nation. The increasing geriatric population as well as rising awareness regarding several types of lifestyle related health disorders in the country is augmenting the demand for fermentation chemicals in the pharmaceutical sector. Additionally, the fermentation chemicals are widely in demand by the food & beverages manufacturers, particularly by alcohol industry. Consequently, the demand for environment friendly fermentation chemicals in the manufacturing of organic food & food additives, therapeutic proteins, antibodies, vaccines, etc. would cumulatively foster the India fermentation chemicals market through 2026.
India Fermentation Chemicals market is controlled by these major players, namely– Aumgene Biosciences, Sequence Biotech Pvt. Ltd., Biocon Limited, LUMIS BIOTECH PVT LTD., Enzyme India Pvt. Ltd., TCI Chemicals (India) Pvt. Ltd., Teva Pharmaceutical Industries Ltd., etc.
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