According to a new report published by Allied Market Research, titled,"Fermenters Market by Process, Application, and Mode of Operation: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the fermenters market size was $1,211.5 million in 2018, and is projected to reach $1,781.3 million by 2025, registering a CAGR of 5.7% from 2018 to 2025. In 2017, the continuous fermentation segment accounted for more than 51% share of the global fermenters market in terms of value.
Fermentation is a metabolic process in which microorganisms convert carbohydrates such as starch and sugar to organic acids, alcohols, and other useful byproducts. This process takes place in specially designed vessel called fermenter, also known as bioreactors. Fermenters are cylindrical shaped containers in which biological processes are carried out under controlled environment. They consist of wide array of instruments to maintain optimum conditions inside the vessel. It mainly consists of sensors, actuators, and control systems to monitor and maintain desired environment inside the fermenter.
Fermenters are used for the controlled cultivation of fungi, yeast, and bacteria to generate products such as organic acids, enzymes, starter culture, insulin, and vaccines. They are also designed to process insect, mammalian, and hybridoma cells for the production of monoclonal antibodies hormones, vaccines, etc.
Rise in demand for advanced vaccinations and expansion in the food, beverage, and pharmaceutical industries are expected to exhibit high demand for fermenters in future. In addition, inclusion of technically advanced fermenters such as miniaturized fermenters, fermenters with smart technology and rise in the demand for beer and wines further propel the fermenters market growth in the future, which in turn is expected to fuel the growth of the fermenters market.
On the other hand, fermenters are very costly owing to presence of advanced technological devices such as sensors, actuators, and control systems to name few. High cost of fermenters is expected to impend the market growth. In addition, optimization and integration of large-scale fermenters are major concerns for stakeholders in the fermenters industry. Manufacturers of fermenters are continuously engaged in the development of commercially viable fermenters at very large scale in order to cater increase in demand for large-scale fermenters especially from the food & beverage industry. As the global demand for fermenters continues to expand, engaged stakeholders will be challenged to continue to improve efficacy and yield of fermenters. Furthermore, adapting to evolving customer demand will require collaboration throughout the value chain
Key Findings Of The Fermenters Market:
The continuous fermentation segment was the highest contributor to the fermenters market in 2017, and is projected to grow at a CAGR of 6.1%.
There is a continuous increase in the demand for fermenters in the healthcare & personal care segment. The demand is projected to grow at a highest CAGR of 6.6% during the fermenters market forecast period.
Automatic segment accounted for the highest share with 63% of fermenters market share in the global fermenters market, in 2017.
Asia-Pacific is projected to exhibit rapid growth in the fermenters, owing to easing regulations, high foreign direct investment, and establishment of R&D centers in the region. Asia-Pacific is projected to grow at the CAGR of 7.6% from 2018 to 2025.
t CAGR of 8.7% during the forecast period.Among countries, India is projected to grow with highes
Asia-Pacific and LAMEA collectively accounted for around one-fourth revenue share of the global fermenters market in 2017. The key players operating in the fermenters market include AB Electrolux, Qingdao Haier Co., Ltd. (Haier), Hitachi, Ltd., LG Electronics Inc. (LG), Midea Group Co., Ltd. (Midea), Panasonic Corporation (Panasonic), Robert Bosch GmbH, Samsung Electronics Co., Ltd., Sharp Corporation (Sharp), and Whirlpool Corporation.