Precision Fermentation Market Is Expected To Reaching Nearly USD 34.9 Billion By 2031 | CAGR of 40.5%

The global precision fermentation industry generated $1.3 billion in 2021, and is anticipated to generate $34.9 billion by 2031, witnessing a CAGR of 40.5% from 2022 to 2031.

Increasing protein demand worldwide, changing consumer preferences and tastes, the growing preference for the acceptance of meat-free and vegan lifestyles and rising innovation and investment drive the growth of the global precision fermentation market. However, the high cost of producing protein ingredients by using precision fermentation technology restricts the market growth. Also, health risks associated with precision fermentation are expected to hinder the market growth. Moreover, significant financial support for the technological development of this technology is anticipated to present new opportunities in the coming years.

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Rising investment and funding in the precision fermentation process and rising consumer interest in consuming a plant-based diet, increase in food allergies cases, rising demand for nutrition, and unparalleled food safety are the major factors contributing to the precision fermentation market growth in the upcoming years.

Precision fermentation is a method of producing insulin and vitamins, enzymes, milk proteins including casein, whey, and other functional components. Precision fermentation refers to the method of using microbes as cell factories to produce useful substances. The rising use of meat or animal-derived dietary products is generating environmental concerns. The production of animal-derived food items produces a large amount of greenhouse gases such as carbon dioxide and methane, which further result in degrading air quality. Precision fermentation technology increases protein output since it is cost-effective, efficient, and environmentally gentle. Moreover, when compared to animal or plant-derived proteins, proteins generated by precision fermentation are non-allergic. Developing biotechnological methods to use fermentation to produce high-quality animal protein through yeast, fungus, and other microbes are expected to boost the global precision fermentation market growth during the forecast period.

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The manufacturing cost of precision fermentation for the mixture of protein without the use of animal proteins or lipids has gained pace in recent years owing to the growing vegan population's need for more animal-free goods. This market method entails genetically engineered yeast or fungus to produce the gene, normally encoded by animal DNA. Bacteria are then used to make a desired product that resembles the texture, taste, and nutritional composition of actual animal products.

Precision fermentation also helps with the planet's most significant issues such as land conversion, environmental degradation, and climate change. In addition, one of the factors influencing the precision fermentation market opportunities is rising investments in the market by the major players. Precision fermentation technology is being used by numerous companies since it creates a wide range of complex organic compounds without using any animals. Additionally, rising investment and funding in the precision fermentation process and technologies, the growing prevalence of cultured meat amongst consumers, the rising interest of consumers in consuming a plant-based diet, the increase in the instances of food allergies, rising demand for nutrition, and unparalleled food safety are some of the major factors driving the growth of the global precision fermentation market.

The precision fermentation market share is segmented on the basis of application, microbe, ingredient, end user, and region. By application, it is classified into meat, seafood, dairy, egg, and others. By microbe, it is classified into bacteria, yeast, algae, fungi, and others. By ingredient, it is classified into egg white, whey and casein protein, collagen protein, and heme protein. By end user, it is classified into food and beverage, pharmaceutical, cosmetic, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global precision fermentation market size, and is likely to dominate the market during the forecast period. Increasing awareness of the health advantages of eating healthy and vegan food items, as well as an increase in the trend of weight control and veganism among regional consumers, are driving the growth of the North American precision fermentation market. However, the Asia- Pacific region is expected to witness the fastest CAGR of 42.4% from 2022 to 2031. The health benefits of egg alternative protein ingredients, such as reduced cholesterol and higher content, are also important drivers of product demand in the Asia-Pacific region.

Leading Market Players: -

Geltor inc.,
Imagindairy Ltd,
Change Foods,
Eden Brew,
Impossible Foods Inc,
Motif Foodworks, Inc,
Nourish Ingredients,
Shiru Inc,
FUMI Ingredients,
Perfect Day Inc

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