United States, Rockville MD, July 27, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global air-based foods market is expected to expand at an impressive CAGR of 11.7% to reach a market valuation of US$ 100 million by 2032. The market is surging due to remarkable food offerings that can be made independent of the land and sea by key market players.
Rising veganism and the need for sustainable food production are pushing forward the alternative protein industry. However, the forecast years’ alternative protein market will be far beyond plant-based protein and clean meat. In an attempt to seek the perfect source of clean, sustainable, and resource-conscious protein, researchers have developed technology to replicate meat from carbon dioxide, oxygen, and nitrogen naturally present in the air.
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Solar Foods, Air Protein and, Deep Branch Biotechnology are some of the pioneers of the air-based food revolution. These air-based foods, such as beer or yoghurt, use fermentation, but the process is much faster and mostly carbon-negative. Another technology works on the model where carbon dioxide is combined with water, nutrients, and electricity to yield protein flour.
With the world leading towards sustainable food production using minimal resources, the air-based foods market is expected to transform the alternative protein industry and find applications in broader domains.
Additionally, growing government funding for protein obtained from microbes that feed on CO2 is boosting the air-based protein market. For instance, European companies that produce protein using carbon emissions or atmospheric CO2 may be able to reduce their production costs with reimbursements for the CO2 they utilise. For such payments, their procedures must be accepted by the European Emissions Trading System. Each metric tonne of CO2 consumed would profit businesses roughly US$ 29. Such initiatives will aid in the decrease of product cost and increase its adoption.
What Difficulty Might Air-based Food Producers Face?
“Low Acceptance of Novel Food Products among Population Can Limit Market Growth”
There are mixed sentiments of consumers in terms of acceptance when it comes to any new product with such innovative food technology. Explorers are open to new offerings; however, establishing a brand identity is of prime importance to increase penetration amongst conserved consumers. Consumers may find air-based food less appealing if they think of it as a research lab food rather than regular food.
Another challenge for novel food manufacturers is stringent government regulations. As the food industry becomes more globally interconnected, political and regulatory elements are becoming more and more important.
Accelerated integration of global markets and rising number of international joint ventures lead to international legislations, influencing the food companies, especially novel food and novel food ingredients. This could affect the product launch dates of air-based foods in the market.
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Key Segments Covered in Air-based Foods Industry Survey
- By Product Type :
- Protein
- Sugar
- Protein
- By End Use :
- Aqua Feed
- Animal Feed
- Human Food
- Aqua Feed
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
- North America
Competitive Landscape
Prominent air-based food manufacturers are Kiverdi, Solar Foods, Deep Branch Biotech, Novonutrients, Calysta, and Air Co.
Leading manufacturers of air-based food products use sustainable technologies and end-user-specific optimization techniques. As air-based protein does not require fertile soil for its processing, key manufacturers are concentrating on developing innovative product designs to address the challenges with product placement in harsh operating environments such as desert areas.
- In September 2019, Solar Foods entered into an agreement with Fazer to develop products using Solein, which can then be used in future products such as lab-grown meat or already-existing plant-based products.
- In January 2020, A US$ 32 million investment venture for Air Protein, a firm that uses fermentation to create a meat substitute out of components in the air, was organized by ADM Ventures, Barclays, and GV (previously Google Ventures).
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Key players in the Air-based Foods Market
- Air Protein (Kiverdi)
- Solar Foods
- Calysta
- Novonutrients
- Deepbranch
- Air Company
Key Takeaways from Air-based Foods Market Study
- The global air-based foods market is projected to expand at an impressive CAGR of 11.7% through 2032.
- In the short term, air-based foods will experience rapid adoption in North America and Europe.
- In the mid and long term, air-based foods will experience broader acceptance across several geographical regions.
- Although, the primary goal of developing air-based foods was to feed humans in space, aqua feed will dominate the market by end use in the introductory phase.
Fact.MR’s Domain Knowledge in Food & Beverages
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Food & Beverages team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Food & Beverages division across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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