Precision Fermentation Market to Grow with a CAGR of 38.73% through 2027
Environmental benefits, growing adoption of being vegan,
decreasing dependency on animal-based food are driving demand for dental bone
grafts during the forecast period of 2017-2027.
According
to TechSci Research report, “Precision
Fermentation Market - Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”,
the Global Precision
Fermentation market stood at USD 293.75 in 2021 and is anticipated to grow with
a CAGR of 38.73% in the forecast period, 2024-2027. The major factors driving
the growth of Precision Fermentation Market include decreasing dependency on animal-based
food, growing adoption of being vegan, Cultured meat production.
Precision Fermentation is microorganisms' genetic
modification and fermentation to create organic molecules. The products
produced through the process will be cheaper in the future than those produced
from animals. Precision fermentation does not depend upon climatic changes. The food items produced from precision fermentation
are regulated like any other food ingredient. As these products are
animal-free, vegans still have some allergen capabilities due to their animal
counterparts.
Many startups are investing in precision
fermentation. These startups include Israel’s Remilk and Imagindairy, Estonia’s
ProProtein, the UK-based Better Dairy, and German operation Formo. Berlin-based
Formo invested USD50 million to form lab-grown dairy products in September 2021.
Companies are investing in precision fermentation because this process can
create many complex organic molecules without incorporating animals. The US
Department of Agriculture was the first government to invest USD10 million in
Tuft’s University to scale up cellular food production in October 2021. Between
2018 and 2020, the Good Food Institute, a non-profit institute in Washington
DC, dispensed almost US$3 million in supporting fundamental research on
scaling.
Browse over 135 market data Figures spread through 271 Pages and an in-depth TOC on "Global Precision Fermentation Market"
The Global Precision
Fermentation Market is segmented into Ingredient Produced, Microbes, End User
Industry, Region, and By Company.
The market is segmented
into Whey & Casein Protein, Egg White, Collagen Protein, Heme protein and
Others based on ingredient produced. In 2021, Whey & Casein protein segment
holds the major revenue share i.e., 42.68%. Whey & Casein protein is
majorly used in the production of dairy products and this process is
significantly involve in the production of dairy products. Heme Protein is the
fastest growing in forecast years due to the growing adoption of being vegan.
The market is classified
into three categories based on the microbe: Yeast,
Algae, Bacteria. With a market share of
46.47% in 2021, the yeast is dominating the Global Precision Fermentation
Market. The products made by the procedure of precision fermentation are mostly
by the help of yeast because it doesn’t require specific environmental
condition for its growth and yeast is anaerobic. Followed by algae, for some
products algae is also used to produce by precision fermentation.
Based on regional
analysis, in terms of revenue share in 2021, North America dominated the global
precision fermentation market with the market share of 47.26%. Because the
startups doing the process to produce dairy products and protein are mainly
North America based. North America account major share also due to the highest
investments in the region.
The leading companies
operating in the Global Precision Fermentation Market are:
- New Culture Inc
- Perfect Day, Inc
- Triton Algae Innovations
- Change Foods, Inc
- Remilk
- Impossible Foods Inc.
- Motif FoodWorks, Inc
- Formo Bio Gmbh
- The Every Company
- Geltor, Inc
- Better Dairy
Download Free Sample Report
Customers can also request for 10% free
customization on this report.
“Global Precision Fermentation Market will
see a robust growth during the forecast period of 2017-2027. The
market of precision fermentation is expected to develop because people are more
concerned regarding the treatment of animals in slaughterhouse, nowadays. Due
to that people are focused on the production of food which doesn’t require the
use of animals.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Precision
Fermentation Market - Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, Segmented By Ingredient Produced (Whey & Casein
Protein, Egg White, Collagen Protein, Heme Protein, Others), By Microbe (Yeast, Algae, Bacteria, Others), By End User Industry (Food & Beverage, Pharmaceutical,
Cosmetic, Others), By Region”, has evaluated the future growth potential
of Global Precision Fermentation Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Global Precision Fermentation Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com