London, April 08, 2024 (GLOBE NEWSWIRE) -- Precision fermentation market is projected to undergo a significant surge and value at US$18.1 Bn in 2030 from US$1.7 Bn attained in 2022. This significant growth is estimated at a healthy CAGR od 39.7% propelled by the technological advancements in bioprocessing and rocketing sales of nutraceuticals and functional ingredients.
The precision fermentation market is being driven by key factors that are reshaping industry, which include increasing awareness of environmental sustainability and climate change, rising consumer focus on health and wellness and the rise of alternative proteins produced through microbial fermentation.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Market Size in 2022 | US$1.7 Bn | |
| Estimated Market Size in 2030 | US$18.1 Bn | |
| CAGR | 39.7% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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Precision fermentation plays a key role in the transition to a circular economy by upcycling waste streams and by products into value-added products. Precision fermentation enables the production of plant-based proteins, such as soy, pea, and mycoprotein, as well as cell-based meats and seafood, offering sustainable and animal-free alternatives to traditional animal agriculture.
“Microbial fermentation allows for the production of novel flavours, fragrances, and aroma compounds that mimic natural ingredients or create entirely new sensory experiences. This trend is driving innovation in the food, beverage, and fragrance industries, enabling the development of unique and customizable products,” says the analyst.
Growing consumer awareness of sustainability, health, and ethical considerations is driving demand for products produced through precision fermentation. Consumers are increasingly seeking out sustainable and ethically sourced products, driving market demand for precision fermentation-derived ingredients and products.
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Key Research Insights
- Collagen protein is the leading ingredient type in the market.
- The meat and seafood category to dominate the precision fermentation market.
- The precision fermentation market is expanding at the quickest rate in the Asia-Pacific area.
- Europe is currently the second-largest geographical area in the market.
Insights into Segmentation Analysis
The Meat and Seafood Category Dominates Precision Fermentation Area
- The meat and seafood category dominates precision fermentation as consumer preferences move toward plant-based and sustainable protein sources.
- The manufacturing of substitute meat and fish products is made possible by precision fermentation, which addresses environmental issues related to conventional animal husbandry.
Collagen Protein Continues to Dominate over Heme Protein
- The precision fermentation market is dominated by collagen protein, which is primarily attributed to its extensive utilisation in the food, beverage, and cosmetic sectors.
- Collagen's dominance in the market is largely due to the combination of rising consumer demand for functional and health-enhancing products and collagen's adaptability in formulations.
- Precision fermentation makes it possible to produce collagen without using conventional animal sources, which is in line with consumers' growing need for components that are cruelty-free and sustainable.
- The market for precision fermentation is expanding at significant rate in the heme protein category due to the increased demand for plant-based meat substitutes.
Key Report Highlights
- The pharmaceutical industry offers a substantial possibility for growth through precision fermentation.
- The precision fermentation market is poised for continued growth and innovation, driven by advancements in biotechnology, and fermentation technology.
- Precision fermentation enables the production of bioactive compounds, vitamins, antioxidants, probiotics.
Insights into Regional Analysis
North America Holds Leadership Position in the Market
- North America’s dominant position in the precision fermentation market can be attributed to several factors, including robust investments in research and development, established biotechnology and food sectors.
- The consumer base in the region is showing inclination toward alternative and sustainable food sources, which is consistent with precision fermentation's potential.
- North America's supremacy is further bolstered by the presence of key industry players, and a supportive legislative framework.
Asia Pacific to Gain from an Increasing Consumer Tendency to Pick Sustainable Choices
- The precision fermentation market is expanding at notable rate in Asia Pacific area in the coming years due to factors such as changing food habits, population growth, and increased emphasis on sustainable practices.
- Precision fermentation technologies are in more demand due to the region's strong economic growth, and growing public awareness of environmental and health issues.
- To address the changing demands of a vibrant and populated market, businesses in Asia Pacific are making investments in research and development, stimulating innovation, and propelling the implementation of precision fermentation.
Key Companies Profiled in the Global Precision Fermentation Market
- Helania Inc.
- Geltor
- Mycorena
- Formo
- Change Foods
- Impossible Foods Inc.
- Melt & Marble
- Eden Brew
- Motif Foodworks, Inc.
- Nourish Ingredients
- Perfect Day Inc.
Global Precision Fermentation Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - (By Ingredient Coverage, By Microbe Coverage, By Application Coverage,By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/precision-fermentation-market
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