The market size of the Global Fermented Food and Ingredients market in the year 2021 is valued at 622.90 billion and is predicted to reach 1219.91 billion by the year 2030 at an 7.99% CAGR during the forecast period.
The combination of fermented foods, including dairy products, bread & confectionary items, vegetables, and others, is referred to as the fermented food and ingredients market (non-alcoholic beverages, ingredients such as vitamins, organic acids, amino acids, and industrial enzymes). By boosting the product's micronutrient content, removing the anti-nutrients, and extending its shelf life, the food fermentation process aids in protecting the food against spoiling. Due to the population's increasing concern over their health, the industry is anticipated to rise significantly. The market is primarily driven by rising health consciousness among the people. The growing desire for fresh food with a longer shelf life is predicted to stimulate demand for fermented foods and ingredients. Furthermore, the increased need for food preservation is a major driver driving market expansion. Rising urbanization and rising purchasing power in developing economies have moved consumer tastes toward fermented beverages, bakery, and confectionery items.
The rising demand for fermented components is mostly due to the rising popularity of fermented beverages. The market's expansion is anticipated to be constrained by health risks related to ingredients and food that have undergone fermentation. Additionally, the demand for fermented components and meals may be hampered by the high cost and erratic supply of raw materials.
The Fermented Food and Ingredients market is segmented on the ingredient type, food type, and distribution channel. Based on ingredient type, the market is segmented into amino acids, organic acids, vitamins, industrial enzymes and others. Based on food type, the Fermented Food and Ingredients are segmented into fermented dairy products, fermented beverages, fermented confectionary and bakery products, fermented vegetables and others. Based on the distribution channel, the Fermented foods and Ingredients are segmented into supermarkets/hypermarkets, online stores and others.
Based on ingredient type, the amino acid segment is accounted as a major contributor to the Fermented Food and Ingredients market
Based on ingredient type, the market is segmented into amino acids, organic acids, vitamins, industrial enzymes and others. The amino acids segment dominated the market. The use of fermented amino acids in manufacturing dairy and beverage products has expanded due to the food and beverage industries' growing desire to improve the texture, quality, and flavor of food items. Additionally, the expansion of R&D led to improvements in microbiology and biotechnology research, which led to improved fermented components. The demand for amino acids has increased due to the rising popularity of high-protein diets among health-conscious consumers.
The fermented beverage segment witnessed growth at a rapid rate
Based on food type, the Fermented Food and Ingredients are segmented into fermented dairy products, fermented beverages, fermented confectionary and bakery products, fermented vegetables and others. The fermented beverage segment dominated the market. The demand for fermented ingredients is anticipated to rise as fermented beverages, and beer popularity rises. Additionally, the market is expanding due to the population's shifting food habits among the health-conscious. The rising population in emerging countries leads to a sedentary lifestyle and has changed eating habits, fueled the demand for processed foods and beverages and increased the use of fermented components in producing processed beverages.
The Europe Fermented Food and Ingredients market holds a significant revenue share in the region.
The European Fermented Food and Ingredients market is expected to register the highest market share shortly. The rising popularity of fermented foods and drinks like yogurt, cheese, and wine is fueling the region's economic expansion. The demand for products and meals that have undergone fermentation is also fueled by rising awareness among the health-conscious populace. In addition, Asia Pacific is projected to grow rapidly in the global Fermented Food and Ingredients market. The demand for processed foods and drinks has increased along with the use of fermented ingredients in their manufacture due to changing eating patterns brought on by rising urbanization and consumer spending power. The region's market has expanded due to the improved food and beverage sector and enhanced agricultural growth in emerging economies.
The key players in the Fermented Food and Ingredients market have shifted their focus toward product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance their product portfolio and strengthen their global market footprint. Some key players in the Fermented Food and Ingredients market are Danone, Cargill Inc., Royal DSM, E. I. du Pont de Nemours and Company, Flower Group, and Archer Daniels Midland Company