Global Precision Fermentation Market: Global Size, Trends, Competitive, And Historical & Forecast Analysis, 2022-2028: Rising investment and funding in precision fermentation process and technologies, the growing prevalence of cultured meat amongst consumers, rising interest of consumers in consuming plant-based diet, 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.
Global Precision Fermentation Market is valued at USD 1,300.0 Million in 2021 and is expected to reach USD 17,709.8 Million by 2028 with a CAGR of 45.2% over the forecast period.
Precision fermentation produces components that are like animal proteins by using a large untapped variety of yeasts, fungi, mycelium, and microalgae as hosts. Most essential vitamins, such as A, C, D, E, and K, are manufactured using precision fermentation technology and used to fortify foods or supplement daily diets. It helps in the development of a variety of desired end products that can be used in a various industry such as food, agriculture, pharmaceuticals, and biologics, among others.
Furthermore, precision fermentation has seen a significant increase in commercial applications in recent years. It allows to produce specialized components such as casein, gelatin, and vitamins with less water and land consumption; It also has a lower carbon footprint. Furthermore, as it is not affected by weather properties, the demand is increased in market. The process is carried out in bioreactors under precise conditions to produce dairy products, proteins and other items on a large scale.
Proteins are the most common molecules made with precision fermentation. In the recent year it adds many key characteristics to the products such as flavor, structure, texture, and medicinal value. Simmilarly, other types of molecules, such as fats, oils, and chemical compounds, can be produced using precision fermentation. For example, precision fermentation has been used to create biologics, a type of pharmaceutical that treats a variety of common conditions such as Multiple Sclerosis, inflammation, diabetes, and cancer. Many enzymes used in industrial processing, as well as ingredients for cosmetics, personal care products, and textiles, are made with precision fermentation.
The COVID-19 pandemic had a significant impact on many businesses around the world. The food and beverage industry was mostly affected by the pandemic. demand for processed foods and other food products decreased significantly due to pandemic. The lockdown imposed by several governments within their countries hampered food production and distribution significantly. The precision fermentation industry was also deeply affected as a result of the demolished food and beverage sector. Due to the industrial closure, GMOs, which are already present in a significant number of processed food items, were unable to reach the market.
The global Precision Fermentation market is segmented On the basis of ingredient, microbes, application, end-use Industry, and region & country level. By ingredient, the global Precision Fermentation market is segmented into whey & casein protein, egg white, collagen protein, heme protein, and others. By microbes, the market is segmented into yeast, algae, bacteria, and others. By application, the global Precision Fermentation market is segmented into meat & seafood, dairy alternatives, egg alternatives, and others. By end-use Industry, the global Precision Fermentation market is segmented into food & beverage, pharmaceutical, cosmetic, and others.
The regions covered in the global Precision Fermentation market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. By country level, the market of global Precision Fermentation is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some of the leading players operating in the global precision fermentation market are -
Manufacturers invest significantly in precision fermentation technological development, research and development. Furthermore, manufacturers have increased the production of microalgal proteins and complex organic compounds. Precision fermentation production and manufacturing processes are weather independent and are carried out in large-scale bioreactors under specific conditions. As a result, high financial support for the technological development of this technology is expected to fuel the precision fermentation market. According to a 2018 Food Revolution Organization poll, 50% of respondents supported a slaughterhouse ban. Furthermore, respondents admitted that they are dissatisfied with how animals are treated in the food industry; as a result, consumers are shifting toward animal-free products. Manufacturers introduce various plant-based products into the market to meet the needs of vegan consumers, which incorporate animal-free ingredients from various sources such as plants and microbes, and thus boosting the precision fermentation market. Vegan and meatless lifestyles are becoming increasingly popular in major countries such as the United States and the United Kingdom. According to the Food Revolution Organization, the number of vegans in the United States has increased by 600% in the last three years.
The high cost of producing protein ingredients using precision fermentation processes may restrict the growth of the global precision fermentation market in the coming years. Furthermore, issues encountered while scaling up manufacturing capacities and commercialization may create significant barriers to the global precision fermentation market's expansion in the coming years.
On the other hand, market players' efforts to develop new innovative systems for producing essential protein constituents may boost the growth of the industry in the coming years. Identifying novel protein-generation techniques through targeted R&D and infrastructure investments will continue to be crucial in capturing value, optimizing resources, and developing precision fermentation competitive advantages. Many novel protein production systems are being scaled up and commercialized in order to produce animal-free meat and microalgae while also utilizing novel and unusual feedstocks such as CO2. These novel production systems are expected to gain importance in the same way that traditional food systems have.
North America is expected to emerge as the leading regional market in the coming years. Rising awareness of the health benefits of consuming healthy and vegan food products, as well as an increase in weight management and veganism trends among regional consumers, are fueling the expansion of the North America precision fermentation market. Furthermore, reduced meat consumption and the resulting increase in meat alternative product consumption are aiding market expansion. Moreover, the rising demand for protein products derived from precision fermentation processes for applications such as dairy substitutes, meat extenders, and meat analogs is driving growth in this regional market.
The demand for high-quality fermented foods is growing in developing countries such as India, China, and Japan, owing to rising consumer disposable income, a growing population, and a growing demand for plant-based products. These factors are expected to boost market in Asia Pacific region. The health benefits of egg substitute protein ingredients, such as lower cholesterol and higher content, are also important drivers of product demand in Asia Pacific.
In Jan 2022, Motif Food Works collaborated with Solar Biotech; a technology firm based in Izmir. Following this collaboration, Solar Biotech would use its pilot-scale precision fermentation and downstream processing capacity to assist Motif Food Works in entering new plant-based product markets.
In August 2021, Nourish Ingredients has collaborated with Vow, a cell-based meat company. The companies hoped to offer jointly developed products by adding fats to cell-based meat as part of this collaboration. Furthermore, the collaboration would reflect a growing trend in the food-tech sector to assist startups in developing hybrid cultivated meat.
In Dec 2021, HEMAMI, a plant-based protein, was introduced by Motif Food Works. Through precision fermentation, the new product aimed to provide a meaty aroma as well as umami flavor to sausages, burgers, and other plant-based meat alternatives.
In Oct 2021, EVERY Clear Egg, a nature-equivalent egg protein, was introduced by EVERY Company. Through its versatile, highly soluble, and functional egg white protein, the company aimed to achieve seamless optical clarity as well as a more neutral sensory profile with this launch.
|2015 - 2020
|2021 - 2027
|Market Size in 2021:
|USD 1,300.0 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 17,709.8 Million
|Tables, Charts & Figures:
|The Every Co., Myco Technology, Eden Brew, Formo, Triton Algae Innovations, FUMI Ingredients, Fybraworks Foods, Nourish Ingredients Pty Ltd., Melt & Marble, Shiru, Inc., Impossible Foods, Inc., Helaina Inc., Pefect Day, inc., Geltor, Motif Food Works Inc., Mycorena, Change Foods, Remilk Ltd., Imagindairy Ltd., and New Culture, among others.
|By Ingredient, By Microbes, By Application, By End-user Industry
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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