BANGALORE, India, Aug. 10, 2023 /PRNewswire/ -- Precision Fermentation Market by Application (Meat, Seafood, Dairy, Egg, Others), by Microbe (Bacteria, Yeast, Algae, Fungi, Others), by Ingredient (Egg White, Whey and Casein Protein, Collagen Protein, Heme Protein), by End User (Food and Beverage, Pharmaceutical, Cosmetic, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.
The global precision fermentation market size was valued at USD 1.3 billion in 2021 and is estimated to reach USD 34.9 billion by 2031, growing at a CAGR of 40.5% from 2022 to 2031.
Major Factors Driving The Growth of Precision Fermentation Market
The Global Precision Fermentation Market is expanding as a result of factors including increased innovation and investment, rising protein demand globally, and shifting consumer preferences and tastes.
The demand for precise fermentation is also being driven by the increasing acceptability of vegetarian and vegan lifestyles. These modifications can be ascribed to the rising number of vegans as well as increased consumer awareness of the unfair and inhumane treatment of animals in the food industry.
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TRENDS INFLUENCING THE GROWTH OF PRECISION FERMENTATION MARKET
The Precision Fermentation Market is being driven by an increase in protein demand globally, shifting consumer preferences and tastes, and increased innovation and investment. Alternative proteins are becoming more and more popular among consumers in wealthy nations. For many years, meat has been the primary source of protein in developed countries, and in recent years, traditional protein has seen an increase in popularity in developing areas. However, the market for alternative proteins is expanding as a result of shifting consumer preferences and interest in sources of alternative protein, which is partly driven by concerns about animal welfare, the environment, and health. A number of new players in the alternative-protein sector are already releasing innovative products and components, and some are working to establish themselves as market leaders.
The demand for precise fermentation is being driven by the increasing adoption of vegetarian and vegan lifestyles. An increasing vegan population's need for more products free of animal products has increased the manufacturing cost of precise fermentation for the protein mixture without the use of animal proteins or lipids. The gene, which is typically encoded by animal DNA, is produced by genetically modified yeast or fungus in this marketing strategy. The next step is to use bacteria to create the desired product, which mimics the appearance, flavor, and nutritional value of real animal products. The most pressing problems facing the earth, including climate change, environmental deterioration, and land conversion, are also helped by precision fermentation.
Precision fermentation, also known as bacterial and microbial fermentation, is a method that is increasingly in demand for the production of biopharmaceuticals including recombinant proteins and bioconjugates. Prior to the development of smaller, more complicated next-generation pharmaceuticals, microbial fermentation was preferred over mammalian cell culture. However, the trend is now returning to microbial fermentation.
Additional factors contributing to the growth of the global precision fermentation market include increasing funding and investment in the process and technologies for precision fermentation, the rising popularity of cultured meat among consumers, consumers' growing interest in eating a plant-based diet, the rise in cases of food allergies, the rising demand for nutrition, and unmatched food safety.
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PRECISION FERMENTATION MARKET SHARE ANALYSIS
Based on application, the meat sub-segment is predicted to develop at the quickest rate over the projected period, while the dairy sub-segment became the global leader in 2021.
According to microorganisms, the bacteria sub-segment is expected to develop at the quickest rate in the following years, while the algae sub-segment will become the world leader in 2021.
The egg white sub-segment, which is based on ingredients, became the global leader in 2021 and is predicted to increase at the fastest rate over the projection period.
The food and beverage sub-segment, based on end users, became the global leader in 2021 and is predicted to expand the quickest throughout the course of the forecast period.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Perfect Day Inc
- Impossible Foods, Inc.
- Geltor
- Eden Brew
- Imagindairy Ltd.
- Motif FoodWorks
- Nourish Ingredients
- Shiru
- FUMI Ingredients
- Change Foods
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