Precision Fermentation Ingredients Market Trends and Projections

Precision Fermentation Ingredients Market by Ingredient (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein), Microbe (Yeast, Algae, Fungi, Bacteria) End User, Food & Beverage Application, and Region - Global Forecast to 2030


Northbrook, IL 60062 -- (SBWIRE) -- 08/24/2023 -- According to a recent research report titled "Precision Fermentation Ingredients Market by Ingredient, Microbe, End User, Food & Beverage Application, and Region - Global Forecast to 2030" published by MarketsandMarkets, the global precision fermentation ingredients market is anticipated to witness substantial growth. The market's value is estimated to be USD 2.8 billion in 2023 and is projected to reach USD 36.3 billion by 2030, with a remarkable CAGR of 44.0%. This growth is attributed to the increasing demand for precision-fermented ingredients that offer a reduced carbon footprint, driving innovation across various sectors such as food, pharmaceuticals, and cosmetics.

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The cosmetics & others segment is expected to experience the highest Compound Annual Growth Rate (CAGR) in the precision fermentation ingredients market. This segment's growth aligns with the 2022 cosmetic trend, driven by the profound benefits of fermented cosmetic products. These products enhance skin absorption of nutrients, providing deeper nourishment compared to non-fermented alternatives. Geltor, a key player in this sector, specializes in fermented cosmetics for hair and skincare needs.

In the food & beverages precision fermentation ingredients market, the meat & seafood segment is anticipated to witness the highest CAGR. Precision fermentation is used to create plant-based proteins and fats for meat alternatives, offering similar texture and nutrition to traditional meats. This growth reflects the increasing consumer preference for sustainable and health-conscious dietary choices.

The heme protein segment is projected to experience the highest CAGR in the precision fermentation ingredients market. Heme proteins are synthesized through microbial processes, reducing the reliance on animal-derived sources. Notably, the United States leads in heme protein production for plant-based meat alternatives, driven by companies like MycoTechnology Inc. and Impossible Foods.

Among microbial categories, the bacteria segment is poised to grow at the highest CAGR in the precision fermentation ingredients market. Bacteria, including lactic acid bacteria and Bacillus species, are utilized for various fermentation processes, contributing to the production of organic acids, enzymes, and other compounds. Companies like Perfect Day incorporate diverse microbes, including archaebacteria, into their products, showcasing their potential in modern applications.

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The Asia Pacific region is expected to exhibit the highest CAGR in the precision fermentation ingredients market during the forecast period. Rapid urbanization, changing lifestyles, and increasing demand for specialized products drive this growth. The region's focus on technological advancements and innovation complements the cutting-edge nature of precision fermentation ingredients.

The report includes insights into marketing and development strategies, along with the product portfolios of leading companies in the precision fermentation ingredients market. Key players highlighted in the report are Geltor (US), Perfect Day, Inc. (US), The Every Co. (US), Impossible Foods Inc. (US), and Motif FoodWorks, Inc. (US).

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