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.

Download PDF Brochure

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.

Make an Inquiry

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.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441