Richmond, Jan. 29, 2024 (GLOBE NEWSWIRE) -- According to a research report "Precision Fermentation Ingredients Market”, By Microbe (Yeast, Algae, Fungi, Bacteria) Ingredients (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Enzymes, Others), End Use Industry (Food & Beverages {Meat & seafood, Dairy alternatives, Egg alternatives, Others} Pharmaceutical, Cosmetics, Others), and Region - Global Forecast to 2030.
Global Precision Fermentation Ingredients Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 3.01 Billion |
| Market size value in 2030 | USD 53.2 Billion |
| CAGR (2023-2030) | 43.2% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Microbe, Ingredients, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Precision Fermentation Ingredients Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Precision Fermentation Ingredients Market is witnessing significant growth and evolution, driven by the increasing demand for high-quality crops, sustainable agriculture practices, and advancements in manufacturing processes. With a focus on addressing micronutrient deficiencies in soil, metal chelates play a pivotal role in enhancing nutrient absorption by plants, thereby improving crop yield and quality. The market is propelled by the global imperative to optimize agricultural productivity to meet the rising food demand of a growing population. Additionally, the expanding awareness of environmental sustainability has spurred the adoption of metal chelates in eco-friendly fertilization strategies and water treatment applications. Ongoing research and development efforts aimed at developing novel chelating agents with enhanced properties underscore the industry's commitment to innovation. As a result, the Precision Fermentation Ingredients Market is poised for continued expansion, offering opportunities for companies to capitalize on the intersection of agricultural efficiency, environmental responsibility, and technological innovation.
Major Vendors in the Global Precision Fermentation Ingredients Market:
- Change Foods
- Eden Brew
- Formo
- Fybraworks Foods
- Geltor
- Helaina Inc
- Imagindairy Ltd.
- Impossible Foods Inc.
- Melt&Marble
- Motif FoodWorks, Inc.
- Myco Technology
- Mycorena
- New Culture
- Nourish Ingredients Pty Ltd.
- Perfect Day, Inc.
- Remilk Ltd.
- REVYVE
- Shiru, Inc.
- The Every Co.
- Triton Algae Innovations
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Growing consumer demand for sustainable and ethically sourced ingredients
The growing consumer demand for sustainable and ethically sourced ingredients has emerged as a significant driver for the Precision Fermentation Ingredients Market. As awareness about environmental concerns, resource depletion, and ethical considerations continues to rise among consumers, there is an increasing preference for products that are produced through sustainable and environmentally friendly practices. Precision fermentation offers a promising solution by providing an efficient and controlled method of ingredient production, reducing the need for traditional agriculture with its associated land use, water consumption, and pesticide utilization. This method aligns with consumers' desires for products that have a lower environmental impact, contributing to a more sustainable and ethical food supply chain. The precision fermentation approach not only addresses the ecological footprint but also has the potential to enhance the traceability and transparency of ingredient sourcing, meeting the evolving preferences of conscious consumers in today's market.
Market Dynamics
Drivers:
- Growing interest in personalized nutrition
- Increasing disposable income and premiumization trends
- Surging popularity of vegan and flexitarian diets
Opportunities:
- Expanding applications across diverse industries
- Advancements in fermentation technology
Increasing Artificial intelligence
The trend of incorporating artificial intelligence (AI) in the Precision Fermentation Ingredients Market is poised to revolutionize and optimize fermentation processes. AI technologies, such as machine learning algorithms and data analytics, can analyze vast datasets generated during precision fermentation, enabling real-time monitoring and control of the fermentation parameters. This leads to enhanced efficiency, improved product quality, and reduced production costs. AI-driven models can predict optimal conditions for microorganism growth, nutrient utilization, and product formation, enabling precise adjustments for maximum yield. Additionally, AI aids in process automation, minimizing human intervention and errors. The ability to swiftly adapt and optimize fermentation conditions through AI not only accelerates product development but also facilitates the scalability of precision fermentation, positioning it as a key driver in the growth of the Precision Fermentation Ingredients Market.
The market for Precision Fermentation Ingredients Market is dominated by North America.
North America has maintained its position as the dominant market for precision fermentation ingredients, driven by increasing consumer awareness, a rising demand for healthy food ingredients, and the growing trend of veganism. The North American landscape for precision fermentation ingredients is on the brink of a significant transformation, with approximately 40% of U.S. adults, totaling over 90 million individuals, expressing readiness to adopt precision fermentation products. This number is anticipated to reach 132 million consumers by 2027, as reported by The Hartman Group. The younger generations, particularly Millennials and Gen Z, are particularly receptive due to their environmental concerns and commitment to sustainability, with positive impacts on the environment being a key motivating factor. This aligns with their inclination towards sustainable consumption practices. The correlation between precision fermentation ingredients and sustainability, encompassing reduced greenhouse gas emissions, natural farming methods, and sustainable packaging, presents substantial innovation potential. Millennials and Gen Z are willing to pay a premium of up to 10% for products that align with these principles. In essence, precision fermentation technology is acting as a catalyst, shaping a more sustainable and technologically advanced market landscape in response to evolving consumer preferences and heightened environmental consciousness.
Whey & Casein Protein Segment is anticipated to hold the Largest Market Share during the Forecast Period
Based on Ingredients segment is categorized into Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Enzymes and Others. In the Precision Fermentation Ingredients Market, whey and casein proteins stand out as holding a significant share due to their widespread applicability and nutritional benefits. Whey and casein, derived from milk, are highly sought-after protein sources that play a crucial role in various food and beverage products.
Precision fermentation allows for the controlled and efficient production of these proteins, meeting the increasing consumer demand for high-quality, animal-free protein alternatives. With a broad range of applications, including sports nutrition, functional foods, and beverages, whey, and casein proteins have established themselves as versatile ingredients. The precision fermentation process ensures the consistent and scalable production of these proteins, contributing to their dominance in the market. As consumer preferences continue to shift towards sustainable and ethical choices, precision fermentation offers a viable solution for producing these proteins with reduced environmental impact, further solidifying the leading position of whey and casein in the Precision Fermentation Ingredients Market.
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