Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "United States Precision Fermentation Market By Ingredients Produced, By Microbes, By End User, Region, Competition, Forecast & Opportunities, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The United States Precision Fermentation market is poised for impressive growth in the forecast period from 2023 to 2028. This growth is attributed to the increasing adoption of veganism in the country, with around 2% of consumers between 18 and 75 years of age following a vegan diet as of July 2021.
Moreover, the rising inclination towards animal-free dairy products and the drive to reduce intensive animal agriculture are expected to further boost the market's expansion. Additionally, growing investments in precision fermentation and the shift away from animal-based food products are influencing the market's trajectory.
For example, Every Co. (formerly Clara Foods) secured a substantial USD 175 million in Series C funding led by Rage Capital and new investor McWin, along with other investors like Temasek, the Wheatsheaf Group of Grosvenor, TO Ventures, and Prosus Ventures, raising the total funding to USD 233 million.
With plans to increase the production of animal-free protein and explore new food applications, the United States Precision Fermentation market is poised for remarkable growth in the coming years.
Growing Adoption of Vegan Lifestyle
The expansion of the Precision Fermentation market in the United States will be attributed to the rising popularity of vegan cuisine. Customers choose products created without using animals because there is increased public concern about how animals are treated in the food sector.
To meet the demands of the vegan community, many businesses are introducing plant-based products in the market that contain substances devoid of animals from many sources, including microorganisms and plants. Using precision fermentation eliminates the need to use animal products as components.
The usage of precision fermentation on a large scale can be very effective, in addition to the advantages for animal welfare, the environment, and public health. Precision fermentation solves the issue of animal exploitation. It's vegan. Precision fermentation made veganism much more accessible by enabling delicious new products.
Increasing Concerns Toward Environment
The precision Fermentation process, which uses less water and land to manufacture specialized nutrients like casein, gelatin, and vitamins, helps significantly reduce the carbon footprint. Resource-intensive industrial animal agriculture exacerbates some of the planet's most significant issues, such as land conversion, environmental degradation, and climate change.
Global livestock emissions make up 14.5% of all anthropogenic greenhouse gas emissions today, according to research by the UN's Food and Agricultural Organization (FAO). Industrial animal husbandry also poses serious health risks to the population since it has the potential to increase antibiotic resistance and create environments that are conducive to the development of zoonotic diseases like COVID-19.
Supportive Government Initiatives
The United States' potential role in protein production can be determined by the federal government's decision to implement alternative protein policies.
The United States Department of Agriculture was the first government to invest USD10 million in Tuft's University to scale up cellular food production in October 2021. All these initiatives by the government are expected to create lucrative opportunities for the growth of the United States Precision Fermentation Market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States Precision Fermentation Market.
- New Culture Inc.
- Perfect Day, Inc.
- Triton Algae Innovations
- Change Foods, Inc
- Imposible Foods Inc.
- Motif FoodWorks, Inc.
- The Every Company
- Geltor, Inc
Report Scope:
United States Precision Fermentation Market, By Ingredients Produced:
- Whey & Casein Protein
- Egg White
- Collagen Protein
- Heme Protein
- Others
United States Precision Fermentation Market, By Microbes:
- Yeast
- Algae
- Bacteria
- Others
United States Precision Fermentation Market, By End User:
- Food & Beverage
- Pharmaceutical
- Cosmetic
- Others
United States Precision Fermentation Market, By Region:
- North-East
- Mid-West
- West
- South
For more information about this report visit https://www.researchandmarkets.com/r/2sn2a2
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