Precision Fermentation Market Share, Analysis : Industry Growth Report

Precision Fermentation Market by Ingredient (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein), Microbe (Yeast, Algae, Fungi, Bacteria), Application (Meat & Seafood, Dairy Alternatives, Egg Alternatives), & Region - Global Forecast to 2030


Northbrook, IL 60062 -- (SBWIRE) -- 06/23/2023 -- According to a market report published by MarketsandMarkets, the global precision fermentation market is expected to grow significantly. It is estimated to reach a value of USD 1.6 billion in 2022 and is projected to reach USD 36.3 billion by 2030, with a compound annual growth rate (CAGR) of 48.1% in terms of value. The market growth is primarily driven by the production of precision-fermented ingredients that have a reduced carbon footprint.

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The meat and seafood segment is expected to experience the highest CAGR in the precision fermentation market. Plant-based meat products, which are alternatives to animal meat, utilize precision fermentation technology to create plant-based proteins and fats that mimic the taste, texture, and nutritional profile of animal meat.

Among the different ingredients, the heme protein segment is projected to grow at the highest CAGR. The alternative protein sector is witnessing strong growth, and precision fermentation plays a crucial role in achieving the desired taste and characteristics of regular animal products. Fermentation is used to enhance the sensory and functional properties of heme proteins, contributing to their increasing demand.

In terms of microbes used in precision fermentation, the bacteria segment is anticipated to grow at the highest CAGR. Bacteria are widely utilized in both anaerobic and aerobic fermentation processes to produce organic acids, alcohols, enzymes, antibiotics, biopolymers, and surfactins. Lactic acid bacteria and Bacillus species are prominent examples of bacteria used in precision fermentation.

The Asia Pacific region is expected to exhibit the highest CAGR in the precision fermentation market during the forecast period. Factors such as changing consumer lifestyles, the growth of the middle-class population, and increased consumer awareness about health and fitness are driving the market in this region. Additionally, investments and expansions in the Asia Pacific region contribute to market growth.

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Leading companies in the precision fermentation market, such as Geltor, Perfect Day Inc., The Every Co., Impossible Foods Inc., and Motif FoodWorks Inc., have implemented various marketing and development strategies. The report provides detailed profiles of these companies, along with an analysis of their product portfolios.

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