New York, United States , Nov. 20, 2023 (GLOBE NEWSWIRE) -- The Global Precision Fermentation Ingredients Market Size is to Grow from USD 1.76 Billion in 2022 to USD 62.32 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 42.8% during the projected period.
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Precision fermentation is a novel and advanced technique in which microorganisms such as bacteria, yeast, or fungi are used to produce specific target molecules with high precision and efficiency. Proteins and enzymes, as well as flavor compounds and nutritional additives, are examples of these molecules. This novel method allows for the controlled and long-term production of ingredients that were previously sourced from animals or extracted using resource-intensive methods. As a result of rising demand for sustainable and plant-based alternatives in industries such as food and beverages, pharmaceuticals, and cosmetics, the precision fermentation ingredients market has grown dramatically. This market addresses critical issues such as environmental sustainability, resource scarcity, and ethical concerns in ingredient manufacturing. By leveraging the power of biotechnology and fermentation, companies in this market are revolutionizing how ingredients are sourced, manufactured, and integrated into a wide range of consumer products. While technological advances have increased the efficiency of precision fermentation, production costs can still be relatively high when compared to traditional methods, particularly for certain ingredients. Pricing competition is critical for market penetration, particularly in price-sensitive consumer markets.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Precision Fermentation Ingredients Market Size, Share, and COVID-19 Impact Analysis, By Ingredient (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein), By Microbe (Yeast, Algae, Fungi, Bacteria), By End User (Food & Beverages, Pharmaceutical, cosmetics & Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The whey & casein protein segment is expected to grow at significant pace in the global precision fermentation ingredients market during the forecast period.
The global precision fermentation ingredients market is segmented by ingredient into whey & casein protein, egg white, collagen protein, and heme protein. Among these, the whey & casein protein segment is projected to grow at a rapid pace in the global precision fermentation ingredients market throughout the forecast period. Whey and casein proteins are commonly used in the food and beverage industries due to their high nutritional value and functional properties.
The bacteria segment accounted for the significant share of the global precision fermentation ingredients market in 2022.
The global precision fermentation ingredients market is divided into yeast, algae, fungi, and bacteria based on microbe. In 2022, the bacteria segment accounted for a sizable share of the global precision fermentation ingredients market. Bacteria are frequently used in precision fermentation to produce a wide variety of compounds such as enzymes, vitamins, and bioactive molecules.
The food & beverages segment is expected to hold the largest share of the global precision fermentation ingredients market during the forecast period.
The global precision fermentation ingredients market is segmented by end user into food & beverages, pharmaceutical, cosmetics, and others. Among these, the food and beverages segment is projected to account for the majority of the global precision fermentation ingredients market during the forecast period. In the food and beverage industries, precision fermentation ingredients are widely used. These ingredients can be found in a wide range of products, including dairy alternatives, plant-based meat substitutes, baked goods, beverages, condiments, and snacks.
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North America is anticipated to hold the largest share of the global precision fermentation ingredients market over the predicted timeframe.
The region's advanced biotechnology infrastructure, strong R&D capabilities, and rising demand for sustainable and plant-based products have all aided the market's expansion. The presence of numerous innovative companies and startups specializing in precision fermentation technologies has fueled even more growth in this region.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global precision fermentation ingredients market. Precision fermentation ingredients are becoming increasingly popular in the Asia-Pacific region, which includes China, Japan, South Korea, and Australia. The region's large population, rising disposable income, and shifting dietary preferences are driving demand for alternative protein sources and functional ingredients.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Precision Fermentation Ingredients Market include Geltor, Perfect Day, Inc., The Every Co., Impossible Foods Inc, Motif FoodWorks, INC., Formo, Eden Brew, Mycorena, Change Foods, MycoTechnology, Remilk Ltd, Shiru Inc, and Others.
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Recent Developments
- In May 2023, EVERY Company and Alpha Foods have officially signed a Joint Development Agreement with the goal of bringing next-generation alt-meat products to market. This collaboration aims to accelerate advancements in taste and texture for non-animal products by leveraging EVERY's pioneering expertise in animal-free protein production and Alpha Foods' renowned chef-crafted plant-based foods.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Precision Fermentation Ingredients Market based on the below-mentioned segments:
Global Precision Fermentation Ingredients Market, By Ingredient
- Whey & Casein Protein
- Egg White
- Collagen Protein
- Heme Protein
Global Precision Fermentation Ingredients Market, By Microbe
- Yeast
- Algae
- Fungi
- Bacteria
Global Precision Fermentation Ingredients Market, By End User
- Food & Beverages
- Pharmaceutical
- cosmetics & Others
Global Precision Fermentation Ingredients Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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