NEW YORK, Jan. 3, 2023 /PRNewswire/ -- A latest research report [115+ pages] with 360-Degree visibility, titled "Precision Fermentation Market Share, Size, Trends, Industry Analysis Report, By Microbe (Yeast, Algae, Fungi, Bacteria); By Application (Dairy Alternatives, Meat & Seafood, Egg Alternatives, Others); By Ingredient; By Region; Segment Forecast, 2022 - 2030" published by Polaris Market Research in its research repository.
According to the research report, the global precision fermentation market size & share was valued at USD 1.30 billion in 2021 and is expected to reach USD 37.35 Billion by 2030, growing at a CAGR of 48.3% during the forecast period.
What is Precision Fermentation? How Big is Precision Fermentation Market Size?
- Overview
Precision Fermentation is the process of using living microorganisms to produce complex organic molecules. It's a new food technology that is entering the marketplace. The large untapped variety of microorganisms such as yeasts, fungi, mycelium is programmed using various in-vitro nucleic acid techniques, including CRISPR, gene editing, or cloning, in order to produce proteins that are biologically similar to animal products.
Food technologists believe that precision fermentation can bring in a revolution as it reduces the requirement of animals in the fermentation process. This process finds applications across industries such as food, agriculture, pharmaceutical, biologics, textile, and personal care. The precision fermentation market is majorly driven by the rapid adoption of vegan diets and the rising supply of meat alternatives.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)
Highlights of The Report
- All-inclusive information on the product portfolios of the top players in the market.
- An in-depth assessment of the geographic and business segments of the market.
- Market segmentation on the basis of the type of product, application, and region.
- It offers a forward-looking perspective on the developing elements driving or controlling the business area's development.
- The recent research and development projects performed by each key player.
- A thorough analysis of the market's value chain and assess the effect of Porter's five forces.
Some of the Top Market Players Are:
- Change Foods
- Geltor
- Helania Inc
- Formo
- FUMI Ingredients
- Fybraworks Foods
- Imagindairy Ltd
- Eden Brew
- Impossible Foods Inc
- Melt & Marble
- Motif Foodworks Inc
- Mycorena
- Myco Technology
- New Culture
- Nourish Ingredients
- Perfect Day Inc
- Remilk Ltd
- Shiru Inc
- The Every Co.
- Triton Algae Innovations
For Additional Information on Market Players and Detail List, Download a Report PDF Brochure
Growth Driving Factors
- Rising consumer shift towards anima-free products drives the market growth
The growing use of precision fermentation across various industries for developing several desired end products flourishes the market growth. It is also increasingly used in commercial applications, which enhances its demand. Rising demand for protein globally, changing consumer preferences, and increasing investments are some of the major precision fermentation market trends fueling its growth. Introduction of various plant-based products by manufacturing that incorporate animal-free ingredients is further expected to drive the industry growth.
Moreover, the increased population adopting vegan and animal-free lifestyles in nations like US and UK supports the precision fermentation market size. Rising awareness among customers about the cruel treatment of animals in the food sector further enhances market growth. In addition, the industry is booming with growing demand for nutrition and unparalleled food safety coupled with various health benefits offered by these animal-free protein products.
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Recent Developments
- In January 2022, Solar Biotech and food technology company, Motif Foodworks expanded their development and manufacturing partnership to improve the flavor and nutrient content of plant-based foods
Segmental Analysis
- Meat & seafood category is expected to experience the fastest growth during the forecast period
Based on application, the meat & seafood segment of the precision fermentation market is projected to grow at the fastest rate during the anticipated period. Plant-based meat is manufactured to feel and taste like regular meat. Now, customers are rapidly shifting towards plant-based meat substitutes, including crumbles and even burger patties. Further, the egg alternatives segment is projected to show the second highest growth due to the rising consumer preference for egg substitutes considering factors like food safety and health advantages.
- Egg white segment held the largest precision fermentation market share
On the basis of ingredients, egg white category recorded the greatest revenue share because vegan eggs provide several health benefits. Plant-based eggs are manufactured using natural substances without animal-related ingredients. Thee egg are cholesterol and allergens-free. The increasing consumption of vegan eggs by people with allergies to albumin and animal eggs is driving market growth.
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Geographic Overview
- North America dominated the highest market share in 2021
By geography, the precision fermentation market in North America witnessed the largest revenue share in 2021 owing to a surge in requirement for protein products made through precision fermentation processes for an application like dairy alternatives, meat extenders, and meat analogs. Also, the growing preference for vegetarian diets is expected to favor the demand for precision fermented egg alternatives in Asia.
Further, Asia Pacific is anticipated to grow throughout the study period due to the rising demand for high-quality fermented foods in developing countries such as India, China, and Japan. In addition, growing disposable income, rising population, and increasing demand for plant-based products are the key factors flourishing the precision fermentation industry growth in the region.
Browse the Detail Report "Precision Fermentation Market Share, Size, Trends, Industry Analysis Report, By Microbe (Yeast, Algae, Fungi, Bacteria); By Application (Dairy Alternatives, Meat & Seafood, Egg Alternatives, Others); By Ingredient; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/precision-fermentation-market
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Precision Fermentation Market Report Highlights
- Based on the application, the meat & seafood segment is expected to spearhead revenue growth owing to consumers' demand for meat alternatives for their meals; there has been an increase in the number of innovative products on the market.
- In addition, the consumption of seafood that contains harmful contaminants, including mercury, is leading to an increase in the incidence of chronic gastrointestinal disorders, which is driving the growth of the plant-based seafood segment.
- The production of plant-based eggs is more environment friendly than the processes used in the manufacture of conventional eggs. As a result of this, the egg white segment is expected to grow over the forthcoming period.
- The algae segment accounted for the largest share as a large amount of purified end product are being produced due to the rapid multiplication rate of algae sources.
Polaris Market Research has segmented the precision fermentation market report based on application, ingredient, microbe, and region:
By Application Outlook
- Meat & Seafood
- Dairy Alternatives
- Egg Alternatives
- Others
By Ingredient Outlook
- Whey & Casein Protein
- Egg White
- Collagen Protein
- Heme Protein
- Enzymes
- Others
By Microbe Outlook
- Yeast
- Algae
- Fungi
- Bacteria
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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