Precision Fermentation Market Analysis, Statistics and Forecast to 2030

The Precision Fermentation Market is expected to reach a value of USD 36.3 billion by 2030, with a compound annual growth rate of 48.1%. The market is projected to be worth USD 1.6 billion in 2022. The growth of the market is driven by factors such as increasing global demand for protein, changing consumer preferences, and rising investments and innovations in the protein industry. Recent advancements in genetic engineering have enabled the cost-effective and sustainable reprogramming of microorganisms to produce a range of specialized food protein components.

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The adoption of vegan and meat-free lifestyles is a key driver of the Precision Fermentation Market. In a 2018 survey by the Food Revolution Organization, 50% of respondents supported a ban on slaughterhouses, indicating a growing discomfort with the treatment of animals in the food industry. To meet the demands of vegan consumers, manufacturers are introducing plant-based products with animal-free ingredients from various sources such as plants and microbes. This trend has led to a substantial increase in the adoption of vegan and meat-free lifestyles in countries such as the US and UK.

One of the challenges of Precision Fermentation is the higher manufacturing costs associated with producing ingredients using this method. Microorganisms are genetically engineered to produce the gene that is normally encoded by animal DNA, and then used to develop products that mimic the texture, taste, and nutritional profile of animal-based products. While this approach offers benefits such as reduced land and water usage, greenhouse gas emissions, and health problems associated with animal-based products, it is currently not commercially viable for producing commodity components.

There are opportunities for developing novel protein production systems through targeted research and development and infrastructure investments. Innovative protein production systems are being scaled up and commercialized to produce animal-free meat and microalgae, and to use new and uncommon feedstocks such as CO2. These novel production systems are expected to gain importance as traditional food systems evolve.

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The North American market is the largest for Precision Fermentation due to increasing consumer awareness of healthy food ingredients, the trend of veganism, and weight management. Precision fermentation can produce highly versatile proteins that can be used in applications such as meat analogs, dairy alternatives, and meat extenders.

Key players in this market include Geltor, Perfect Day, The Every Co., Impossible Foods, Motif FoodWorks, Formo, Eden Brew, Mycorena, Change Foods, and MycoTechnology.

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