Spain fermentation ingredients market is projected to reach USD 1,530 million by the year 2023 with growth rate of 3.46%. Andalusia and Catalonia together holds more than 50% of market share in 2017 as large fermentation ingredients companies are located in Catalonia and Andalusia. Spain is the third major country for production of fermentation ingredients for chemical and pharmaceuticals application which is supporting the growth of the market in Spain. Madrid will witness higher growth rate during the forecast period.
On the basis of type, Alcohol (i.e. Ethanol, butanol, BDO and Acetone) and Antibiotics (i.e. Beta-lactam, tetracycline and clavulic acid) fermentation ingredients holds more than 50% market share in the year 2017 as in Spain majority of fermentation ingredients is used for chemical and pharmaceutical application. Amino acid is projected to grow at higher rate during the forecast period. Polymers and organic acids together holds more than 30% of market share in the year 2017due to increasing demand of polymer over organic acid in Spain.
Liquid form of fermentation ingredients holds more than 55% market share in the year 2017, as in Spain majority of fermentation ingredients such as alcohol and organic acid are produced in the form of liquid. Dry form is projected to grow at higher rate compare to liquid form during the forecast period due to increasing demand of polymer and industrial enzymes from last few years.
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Spain Fermentation Ingredients Market segmented as:
- ByType (Alcohol. Amino acid, Antibiotics, Polymer, Vitamins, Enzymes, Organic acid and Others)
- By Form (Dry, Liquid and Others)
- By Application (Chemical, Food & beverages, Pharmaceutical, Animal Feed and Others)
- By Feedstock (Sugar beet, Wheat, Cornand Other)
The leading market players in the Spain Fermentation Ingredients market primarily are Archer-Daniels-Midland Co., The Dow Chemical Co, Cargill, Incorporated, E.I. du Pont de Nemours & Co., Evonik Industries AG, Novozymes A/S and Uquifa
Key players are focusing on expansion of their fermentation ingredient business. From six years, strategy of product launch and expansion of the fermentation ingredients business together holds around 50% of strategy share by key players. Acquisitions and agreement are two main factors which are contributing more than 40% of strategy share as it helping company to enhance their fermentation ingredients production capacity and to capture more market share in Spain and other regions in Europe.
- Fermentation Ingredients Manufacturers
- Food and beverage Industry
- Chemical Industry
- Pharmaceutical Industry
- Retailers and wholesalers
- Traders, importers and exporters
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- The Spain Fermentation Ingredients market is projected to reach USD 1,530 million by 2023 of 3.46%
- In Spain, application of fermentation ingredients in pharmaceutical is growing at higher rate of 3.83%
- In Spain., Alcohol fermentation ingredients type holds the major market share for the year 2017
Regional and State wise Analysis of Spain Fermentation Ingredients market Development and Demand Forecast to 2023 Market
The reports also cover region level analysis:
- Valencian Community
- Rest of Spain
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