New York, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Precision Fermentation Market Industry Size By Ingredient Produced, By Microbes, By End-User Industry, and By Region, Forecast and Opportunities, 2017-2027" - https://www.reportlinker.com/p06317597/?utm_source=GNW
The Global Precision Fermentation Market was valued at USD293.75 Million in 2021 and is forecast to grow at a CAGR of 38.73%, during the forecast period due to the growing inclination of population toward being vegan and decreasing dependency on animal-based food. Precision fermentation also helps in planet’s most significant issues such as land conversion, environmental degradation, and climate change.
Furthermore, increasing investments is one of the drivers which is driving the market of precision fermentation.Many startups are entering in this process because this process can form many complex organic compounds without incorporating animals.
No dependency on weather is also a major factor behind the significant growth of precision fermentation’s market. This process is performed under specific conditions in bioreactors for large-scale production of dairy products, proteins, etc.
Growing Adoption of Vegan
In a study conducted by the Food Revolution Organization in 2018, 50% of participants backed the slaughterhouse ban.Additionally, respondents admitted that they are concerned about how animals are treated in the food industry, which is why customers are gravitating toward items made without involvement of animals.
Manufacturers release various plant-based products in the market that include animal-free ingredients from various sources such as plants and microbes to satisfy the need of vegan consumers. Thus, the increasing adoption of a vegan lifestyle drives the precision fermentation market.
Decreasing Dependency on Animal-based products
Due to the COVID-19 pandemic and the war in Ukraine, there’s a shortage of food worldwide and traditional production processes require much time.This is the reason why consumers rely more on alternative products.
This crisis depicts the human dependency on plant crops and animal farming for food production.Precision fermentation is an emerging form of food production based on cellular agriculture by manipulating DNA sequences of animal cells or microorganisms.
Food production from microorganisms is independent of any weather change, so it also allows the production of seasonal crops.
Cultured Meat Production
Worldwide, the population is growing, and so is the consumption of meat. Many companies are using substitute technique i.e., precision fermentation to produce meat. By using precision fermentation heme proteins are produced which enhance the color and taste of meat.
Market Segmentation
The Global Precision Fermentation Substitute Market is segmented based on ingredient produced, microbes, end-user industry, regional distribution, and competitive landscape.Based on ingredient produced, the market can be split into whey & casein protein, egg white, collagen protein, heme protein, and others.
Based on microbes, the market can be divided into Yeast, Algae, Bacteria, Others.Based on End User Industry, the market is divided into Food & Beverage, Pharmaceutical, Cosmetic, Others.
Regionally, North America dominated the market among Asia-Pacific, Europe, Middle East & Africa and South America region. United States was the largest market in the North America region and stood at USD119.79 million.
Company Profiles
New Culture Inc, Perfect Day, Triton Algae Innovations, Change Foods, Remilk, Impossible Foods, Motif FoodWorks, Formo Bio Gmbh, The Every Company, Geltor Inc., Better Dairy are among the major market players in the global platform that lead the market growth of the global precision fermentation market.
Report Scope:
In this report, Global Precision Fermentation Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Precision Fermentation Market, By Ingredient Produced:
o Whey & Casein Protein
o Egg White
o Collagen Protein
o Heme Protein
o Others
• Precision Fermentation Market, By Microbes:
o Yeast
o Algae
o Bacteria
o Others
• Precision Fermentation Market, By End User Industry:
o Food & Beverage
o Pharmaceutical
o Cosmetic
o Orthers
• Precision Fermentation Market, By Region:
o North America
United States
Canada
Mexico
o Europe
Germany
Belgium
United Kingdom
France
Spain
Sweden
Denmark
Italy
o Asia-Pacific
China
Australia
India
Japan
Singapore
South Korea
o Middle East & Africa
Israel
UAE
South Africa
Turkey
Saudi Arabia
o South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Precision Fermentation substitute market.
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06317597/?utm_source=GNW
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