Spain Fermentation Ingredients Market Segmented by Type, Form, Global Industry Size, Source, Forecast To 2023
Spain Fermentation Ingredients Market Overview
Spain Fermentation Ingredients Market is projected to reach USD 1,530 million by the year 2023 with Growth Rate of 3.46%. 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. Key players in the Spain Fermentation Ingredients Market are looking forward to increasing their investment in product innovation in order to expand their operations to newer markets. These companies are also focusing on research and development activities to gain competitive edge in the market. Key players from developed countries are focusing on their expansion in Spain due to availability of resources and huge opportunities to expand their business in Spain and other European region.
Increasing awareness about application of fermentation ingredients in personal care and pharmaceutical products is driving the growth of fermentation ingredients market. Rising popularity of food and beverages products made by using fermentation ingredients is boosting the market growth in Spain. Introduction eco-friendly production system from fermentation ingredients manufacturers and advance technologies in fermentation process is also influencing the growth of the market. Rising production of sugar cane, beet, tapioca and corn is playing the major role in the growth of fermentation ingredients market in Spain.
Major polymer Fermentation Ingredients produced in Spain includes Xanthan and PHP. In terms of antibiotic ingredients market, Andalusia and Catalonia together holds around 50% of market in the year 2017. Antibiotics fermentation ingredient market in Madrid is growing at higher rate compare to other regions as major polymer producer are in Madrid. 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 liquid form. Dry form is projected to grow at higher rate during the forecast period. Increasing awareness about application of fermentation ingredients in chemical and pharmaceutical products is driving the growth of fermentation ingredients market in Spain.
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The leading market players in the Spain Fermentation Ingredients market primarily are Archer-Daniels-Midland Co., The Dow Chemical Co, Cargill, and Incorporated, E.I. du Pont de Nemours & Co., Evonik Industries AG, Novozymes A/S and Uquifa
Spain Fermentation Ingredients Market is segmented by type which includes Alcohol. Amino acid, Antibiotics, Polymer, Vitamins, Enzymes, Organic acid and others
Spain Fermentation Ingredients Market is segmented by form which includes dry, liquid and others
Spain Fermentation Ingredients Market is segmented by application which includes Chemical, Food & beverages, Pharmaceutical, Animal Feed and Others
Spain Fermentation Ingredients Market is segmented by feedstock which includes Sugar beet, Wheat, Corn and Other
Andalusia and Catalonia together hold more than 50% of market share in 2017. Madrid will witness higher growth rate during the forecast period due to availability of resources and major fermentation ingredients companies are in Madrid and Andalusia. Madrid and Valencian Community together holds more than 35% of market share in year 2017. Fermentation ingredients market in Valencian Community is growing at moderate rate of during the forecast period which will influence the growth of other regions (province) from Spain.
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