Press release
Precision Fermentation Ingredients Market to Surpass $38.02 Billion by 2031
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Driving Forces and Market Dynamics
The report highlights key factors steering the growth of the global precision fermentation ingredients market, including the expanding population, heightened awareness of alternative protein benefits, a rising inclination towards vegan diets, and an increased focus on animal welfare. While these factors propel market growth, challenges emerge from the prevailing preference for animal-sourced products.
Market Opportunities and Challenges
The rising demand for sustainable foods presents lucrative opportunities for market stakeholders, yet the considerable production costs of ingredients pose a significant challenge for industry players.
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Strategic Developments and Industry Innovators
A meticulous examination of the report unveils strategic developments within the precision fermentation ingredients market over the past four years (2021-2024). Key players have engaged in impactful product launches, partnerships, agreements, and collaborations. Leading innovators in the global market include Perfect Day, Inc., Impossible Foods Inc., Geltor, Inc., The EVERY Company, Motif FoodWorks, Inc., MycoTechnology, Inc., MYCORENA AB, Eden Brew Pty Ltd, Change Foods, Formo, Remilk Ltd, Triton Algae Innovations, Nourish Ingredients Pty Ltd., and Imagindairy Ltd., among others.
Market Segmentation and Predictions
The global precision fermentation ingredients market is meticulously segmented by type (whey & casein protein, egg white, collagen protein, heme protein, enzymes, and other ingredients), microbe (yeast, algae, filamentous fungi, and bacteria), and end user (food and beverages industry [meat & seafood products, dairy products, and other food and beverage products], pharmaceutical industry, and other end users).
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Key Insights from the Precision Fermentation Ingredients Market Study:
Egg White Segment: Predicted to register the highest CAGR during the forecast period (2022-2031), driven by its low-fat and high-protein attributes, allergen-free properties, and increasing demand across various food products.
Yeast Segment: Expected to dominate the global precision fermentation ingredients market in 2024 due to its necessity for high-quality proteins and enzymes, high secretion capabilities of some filamentous fungi, and widespread use in food and beverages, attributed to its higher digestible properties and possession of all 20 essential amino acids.
Food and Beverage Industry: Anticipated to hold the largest market share in 2024, with meat & seafood products, dairy products, and other food and beverage products driving growth. Factors such as rapid population growth, consumer preference for natural ingredients, changing eating patterns, and rising demand for dairy alternatives contribute to this dominance.
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Geographic Insights and Growth Prospects
Asia-Pacific Region: Expected to register the highest CAGR during 2024-2031, driven by the increasing preference for a vegetarian diet, health benefits offered by egg alternative protein ingredients, and growing demand for fermented products in countries like India, China, and Japan. Notably, companies in the region are focusing on precision fermentation technology, with notable instances like Cauldron raising USD 7.18 million (AUD 10.5 million) in March 2023.
Mr. Khushal Bombe
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