Precision Fermentation Ingredients market soars to USD 46.6 billion by 2032, achieving a remarkable 44.50% CAGR from 2023 to 2032.
Research Reports
Dec 06, 2023
Market Overview
In 2022, the precision fermentation ingredients market size was estimated to be worth USD 1.7 billion. According to projections, the Precision Fermentation Ingredients Market would expand at a compound annual growth rate (CAGR) of 44.50% from USD 2.4 billion in 2023 to USD 46.6 billion by 2032. The primary factors propelling the market expansion are the rising acceptance of plant-based diets and the rising desire from consumers for sustainable substitutes.
Growing more aware of their influence on the environment, people are looking for ways to cut back on resource use and greenhouse gas emissions. Ingredients for precision fermentation provide an effective and sustainable way to produce a variety of chemicals used in food, beverage, pharmaceutical, and cosmetic applications.
The technique of using microorganisms to produce certain components through controlled fermentation processes is known as precision fermentation. Traditional agricultural methods, such as farming or animal-based extraction, usually need enormous quantities of land, water, and energy. This technique eliminates the necessity for these methods. Precision fermentation components can help businesses reduce their carbon footprint and contribute to a more sustainable future. Precision fermentation also makes it possible to produce materials that would be costly or difficult to get through conventional means. This opens up possibilities for innovative product creation, giving both manufacturers and customers more alternatives.
Another factor propelling the market for precision fermentation ingredients is the rising acceptance and utilisation of plant-based and alternative protein sources.
The demand for plant-based ingredients that can replicate the flavour, texture, and nutritional profile of animal-based products is rising as more individuals choose vegetarian, vegan, and flexitarian diets. For the production of these materials, precision fermentation offers a scalable and sustainable substitute to conventional agricultural and animal husbandry.
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Segmentation
Yeast, algae, fungus, and bacteria are included in the Precision Fermentation Ingredients Market segmentation based on Microbe.
Whey and casein protein, egg white, collagen protein, heme protein, enzymes, and other ingredients are included in the market segmentation of precision fermentation ingredients based on ingredients. Protein made mostly of whey and casein makes up the market.
The food and beverage, pharmaceutical, cosmetics, and other segments are included in the market segmentation for precision fermentation ingredients based on ingredients.
The Components of Precision Fermentation Seafood and meat products, dairy substitutes, egg substitutes, and other products are included in the market segmentation based on food and beverage applications. The bulk of the market is accounted for by the meat and seafood division.
Regional Analysis
The report offers market information for North America, Europe, Asia-Pacific, and the rest of the world, broken down by region. The market is dominated by North America because of the region’s increasing demand for plant-based and sustainable goods. The United States is the region’s largest market, and the market is divided into the United States and Canada. Furthermore, the need for plant-based meat substitutes is rising in the area. Due to the increased demand for dairy goods like cheese and plant-based milk, the market for dairy alternatives is likewise growing quickly.
Major players in the Precision Fermentation Ingredients Market, including
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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COVID-19 Analysis
The Covid-19 epidemic in 2020 increased demand for contact-free biometric services at airports because they provide identity and verification without any physical touch. Contactless biometric services provide quick and accurate identification while limiting exposure. Additionally, the pandemic has compelled airport management to implement contactless thermal checking biometric equipment to monitor passenger admission by measuring body temperature. Throughout the projected period, it is anticipated that the contactless airport biometric services industry will continue to rise. Airports all around the world are quickly implementing contactless biometric services including face recognition, voice recognition, & 3D advanced fingerprint recognition.
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