Increase in demand for advanced vaccinations and expansion in the food, beverage, and pharmaceutical industries drive the growth of the global fermenters market
PORTLAND, Oregon, April 2, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Fermenters Market by Process (Batch Fermentation, Continuous Fermentation, and Others), Application (Food, Beverage, Healthcare & Personal Care, and Others), and Mode of Operation (Semi-automatic and Automatic): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global fermenters market generated $1.13 billion in 2017 and is projected to reach $1.78 billion by 2025, registering a CAGR of 5.7% from 2018 to 2025.
Growing demand for active pharmaceutical ingredient, bio-fuels, and alcohol such as wine and beer in developing economies drive the growth of the global fermenters market. However, high cost of fermenters and commercial viability of very large-scale fermenters restrain the growth of the market. Conversely, inclusion of technically advanced fermenters such as miniaturized fermenters, fermenters with smart technology, and rise in the demand for beer and wines create new opportunities for the market growth.
Continuous fermentation segment to be lucrative through 2025
Among processes, the continuous fermentation segment accounted for more than half of the market share in 2017 and would retain its dominance through 2025. It would also exhibit the fastest CAGR of 6.1% during the forecast period, 2018-2025. The continuous fermenters provide greater efficacy in growth and production of microbes and as a result, they are gaining huge traction from different end use industries.
Beverage segment to be dominant through 2025
Among applications, the beverage segment garnered 42% of the market share in 2017 and would maintain its dominance through 2025. High demand of fermenters from beer and wine industry to aid market growth. However, the healthcare & personal care segment would grow at the fastest CAGR of 6.6% from 2018 to 2025.
Automatic segment to be lucrative through 2025
Among mode of operations, the automatic segment was the largest in 2017, capturing 63% of the market share. The same would grow at the fastest CAGR of 6.3% during the study period. Automatic fermenters allow cost efficacy of batch processing and the commercial scalability along with in situ sterilizable capabilities, resulting in increased adoption from different end use industries.
North America to be dominant, Asia-Pacific to exhibit the fastest growth through 2025
North America captured nearly half of the market share in 2017 and is likely to dominate the market through 2025. This is due to the presence of pharmaceutical, food processing, and bio fuel industries in the region. However, Asia-Pacific is expected to register the fastest CAGR of 7.6% from 2018 to 2025.
Key players of the industry
Leading market players analyzed in the research include Eppendorf AG, Sartorius AG, Thermo Fisher Scientific Inc., GEA Group Aktiengesellschaft, General Electric Company, PIERRE GUERIN SAS, CerCell ApS, Electrolab Biotech Ltd., Applikon Biotechnology BV, Bioengineering AG, ZETA Holding GmbH, and BBI-Biotech GmbH. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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