FERMENTER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Fermenter Market Size and Trends

The fermenter market is estimated to be valued at USD 1.98 Bn in 2024 and is expected to reach USD 3.37 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.

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The fermenter market is expected to witness significant growth over the forecast period. The growth of the market is attributed to increasing focus on reducing contamination during fermentation as fermenters help eliminate manual interventions. Additionally, rising demand from industries, such as food and beverages, pharmaceuticals, and chemicals, is also fueling the demand for advanced fermenters. Growing need for continuous fermentation process among end-use industries is further expected to drive the market during the forecast period.

Rising Demand from Pharmaceutical Industry

The fermenter market is expected to witness significant growth in the coming years driven majorly by the rising demand from the pharmaceutical industry. The industry has been relying heavily on fermenters for the commercial production of various biologics and biosimilars. Most of the therapeutic proteins and antibodies used in the treatment of chronic diseases such as cancer, diabetes, etc. are developed through fermentation processes using microorganisms. With increasing prevalence of these diseases globally and rising demand for affordable biologics, pharmaceutical companies around the world have been ramping up their production capacities. This in turn has boosted the sales of large-scale fermenters substantially. Moreover, with the patent expiry of blockbuster biologics, many pharma companies are investing in developing biosimilars. Since fermentation remains the most economic production method for biosimilars as well, it is leading to additional requirements for fermenters in this domain. 

Another key driver has been the rising deployment of fermenters in food and beverage applications. Fermentation is vital for producing a variety of food items consumed globally on a daily basis. Right from bread, yogurt, cheese to alcoholic beverages, fermented foods constitute a major part of the human diet. With growing health-consciousness, the demand for probiotic products with live cultures has surged significantly. Also, the rising income levels and changing demographics in emerging countries is driving higher spending on value-added, ready-to-eat and fortified food products which uses fermenters. Furthermore, the brewing industry too has witnessed expansion worldwide. The market for craft beers in particular has boomed with consumers preferring diversified flavors. This has spurred microbreweries to invest in fermenting systems for trial runs and scaling up niche brews, therefore the growing food industry is expected to drive the market growth. For instance, according to data published by Invest India in 2022, by 2025 the Indian food processing market is estimated to reach US$ 535 Bn, growing at a compound annual growth rate of 15.2%.