The global precision fermentation market size is expected to reach USD 37.35 billion by 2030, according to a new study by Polaris Market Research. The report “Precision Fermentation Market Share, Size, Trends, Industry Analysis Report, By Application (Meat & Seafood, Dairy Alternatives, Egg Alternatives, Others); By Ingredient; By Microbe (Yeast, Algae, Fungi, Bacteria); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
Manufacturers introduce a variety of plant-based products into the market that contain nutrients procured from sources other than animals, including plants, to fulfill the needs of the vegan consumer. Therefore, the increasing popularity of the vegan diet drives the precision fermentation market.
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Precision fermentation is a safe and efficient method for producing insulin, as well as the huge number of vitamins and many enzymes included in all commercially manufactured foods. In addition, precision fermentation methods increase protein production, and the product’s non-allergic qualities are superior to those of animal protein.
Precision Fermentation Market Report Highlights
- Based on the application, the meat & seafood segment is expected to spearhead revenue growth owing to consumers’ demand for meat alternatives for their meals; there has been an increase in the number of innovative products on the market
- In addition, the consumption of seafood that contains harmful contaminants, including mercury, is leading to an increase in the incidence of chronic gastrointestinal disorders, which is driving the growth of the plant-based seafood segment
- The production of plant-based eggs is more environment friendly than the processes used in the manufacture of conventional eggs. As a result of this, the egg white segment is expected to grow over the forthcoming period.
- The algae segment accounted for the largest share as a large amount of purified end product are being produced due to the rapid multiplication rate of algae sources
- The growth of the North American precision fermentation market has been driven by growing veganism trends among local customers, as well as the expanding health benefits of eating healthy and the usage of meat alternatives has increased
- Major players operating in the industry include Change Foods, Geltor, Helania Inc, Formo, FUMI Ingredients, Fybraworks Foods, Imagindairy Ltd, Eden Brew, Impossible Foods Inc, Melt & Marble, Motif Foodworks, Inc, Mycorena, Myco Technology, New Culture, Nourish Ingredients, Perfect Day Inc, Remilk Ltd, Shiru Inc, The Every Co., and Triton Algae Innovations.
Polaris Market Research has segmented the precision fermentation market report based on application, ingredient, microbe, and region:
Precision Fermentation, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Meat & Seafood
- Dairy Alternatives
- Egg Alternatives
Precision Fermentation, Ingredient Outlook (Revenue – USD Billion, 2018 – 2030)
- Whey & Casein Protein
- Egg White
- Collagen Protein
- Heme Protein
Precision Fermentation, Microbe Outlook (Revenue – USD Billion, 2018 – 2030)
Precision Fermentation, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa