Ottawa, July 18, 2023 (GLOBE NEWSWIRE) -- The precision fermentation market size was valued at USD 1,930 million in 2022. Precision fermentation is a technology that uses microorganisms, such as bacteria, yeast, and fungi, to produce high-value compounds like proteins, enzymes, and other specialty chemicals. The process involves modifying the genetic makeup of these microorganisms to produce specific compounds with high purity and yield.
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Precision fermentation offers several advantages over traditional chemical synthesis methods, including greater efficiency, sustainability, and the ability to produce complex molecules that are difficult to synthesize through traditional methods. The technology is particularly useful in producing plant-based products, as it creates sustainable and environmentally friendly alternatives to animal-based products like meat, dairy, and leather.
Report highlights
- On the basis of application, it is divided into meat & seafood, dairy alternatives, egg alternatives, and others. The dairy alternatives segment has gained a major share of 58.65% in 2022.
- On the basis of ingredients, it is divided into whey & casein protein, egg white, collagen protein, heme protein, enzymes, and others. The whey & casein protein segment has gained a major share of 40% in 2022.
- On the basis of the microbe, it is divided into yeast, algae, fungi, and bacteria. The 6–9 kW segment has gained a major global market share.
- By fermentation type, the biomass fermentation segment has generated 51.47% of revenue share in 2022.
- Based on geography, the Precision fermentation market has been expected to experience the highest market share from the North America region during the forecast period.
- On the basis of geography, the Precision fermentation market in North America is serving as the most dominating region among others. The dominance of the Precision fermentation market is largely due to consumer preferences towards healthy and natural products in the North American region.
Regional Snapshots
The Precision fermentation market is expected to experience the highest market share from the North America region during the forecast period. This is due to its ability to produce sustainable, plant-based products with improved nutritional value and functionality. The market is driven by the rising demand for eco-friendly and sustainable products, increasing investments in research and development, and the rising awareness of the health benefits of plant-based foods.
The United States is North America's largest precision fermentation market, followed by Canada. The US is home to some of the world's largest biotechnology companies and has a robust research and development infrastructure, making it a natural market for precision fermentation. In addition, the US government is promoting the adoption of precision fermentation technology to improve food security and sustainability.
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Precision Fermentation Market, by Region 2022-2032 (USD Million)
| Region | 2022 | 2023 | 2031 | 2032 | CAGR (2023-32) | |
| North America | 528.2 | 747.4 | 15,428.5 | 23,223.6 | 46.5 | % |
| Europe | 647.0 | 916.1 | 18,983.6 | 28,588.1 | 46.6 | % |
| Asia Pacific | 247.0 | 350.9 | 7,462.3 | 11,272.3 | 47.0 | % |
| LAMEA | 177.8 | 241.6 | 3,395.7 | 4,821.3 | 39.5 | % |
Market Dynamics
Drivers
Governments can promote the adoption of sustainable production methods by implementing policies that incentivize the adoption of precision fermentation technology. They can offer tax breaks, grants, or other financial incentives to companies that invest in precision fermentation technology to produce sustainable and eco-friendly products. Such incentives can encourage companies to invest in the technology, thereby driving demand for precision fermentation products. Furthermore, governments can also fund research and development in precision fermentation to support the development of new and innovative products. By funding academic institutions, research organizations, and private companies to develop new technologies, products, and applications for precision fermentation, governments can help drive innovation and create new markets for these products.
In addition, governments can encourage the adoption of precision fermentation in agriculture to improve food security and reduce the environmental impact of agriculture, such as by funding for research and development of precision fermentation products for use in animal feed or by promoting precision fermentation to produce plant-based alternatives to traditional animal-based products, governments can help create new markets for precision fermentation products. Moreover, government support can help to create a supportive regulatory and economic environment that encourages innovation and growth in the precision fermentation market. Thus, government support can play a significant role in driving demand for the precision fermentation market.
Opportunities
Precision fermentation is a rapidly advancing field gaining popularity due to its ability to produce high-value compounds with diverse applications. One of the most promising areas for precision fermentation is biomedical applications, which offer significant opportunities for the precision fermentation market. Precision fermentation can produce many biopharmaceuticals, including proteins, enzymes, and antibodies. These products can potentially revolutionize the treatment of many diseases, including cancer, autoimmune disorders, and genetic diseases. For example, precision fermentation can produce monoclonal antibodies that target specific cancer cells, offering a more targeted and effective treatment for cancer.
Furthermore, precision fermentation in biomedicine produces cell and gene therapies. It can produce viral vectors, which are essential components of gene therapy. These vectors can deliver therapeutic genes to specific cells in the body, offering a potential cure for genetic diseases. Moreover, it can also produce probiotics, beneficial bacteria that can improve gut health and support the immune system. Probiotics can treat various conditions, including inflammatory bowel disease, allergies, and mental health disorders like depression and anxiety. Thus, biomedical applications for precision fermentation represent a significant opportunity for the market.
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Recent developments
- In June 2019, Ginkgo Bioworks, a US-based biotechnology company, partnered with Sumitomo Chemical to develop a new technology platform for producing high-value chemicals using precision fermentation.
- In October 2020, the US-based biotech company Amyris announced a partnership with the French fragrance and flavor company Robertet to develop and commercialize a range of sustainable and natural fragrances using precision fermentation.
- In January 2021, the Swiss biotech company Evolva launched a new line of natural sweeteners called L-arabinose and D-allulose, produced using precision fermentation technology.
Market Segmentation
By Application
- Meat & Seafood
- Dairy Alternatives
- Egg Alternatives
- Others
By Ingredient
- Whey & Casein Protein
- Egg White
- Collagen Protein
- Heme Protein
- Enzymes
- Others
By Microbe
- Yeast
- Algae
- Fungi
- Bacteria
By Fermentation Type
- Precision Fermentation
- Biomass Fermentation
- Traditional Fermentation
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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