DUBLIN–(BUSINESS WIRE)–The “Global Precision Fermentation Market by Ingredient (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein), Microbe (Yeast, Algae, Fungi, Bacteria), Application (Meat & Seafood, Dairy Alternatives, Egg Alternatives), and Region – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global precision fermentation market is estimated to be valued at USD 1.6 billion in 2022 and is projected to reach USD 36.3 billion by 2030, recording a CAGR of 48.1% in terms of value.
By application, the meat & seafood segment is projected to account for the second-largest market share during the forecast period
Based on application, the meat & seafood segment is projected to account for the second-largest market share. The demand for plant-based proteins in the meat alternatives segment is projected to grow at a significant rate in the coming years as the global plant-based meat industry has been showing remarkable growth. Companies like Impossible Foods, Motif FoodWorks, and Melt & Marble have introduced precision-fermented meat-alternative burgers, fats, and proteins, which is expected to boost the growth of the meat & seafood segment in the precision fermentation market.
By ingredient, the whey & casein protein segment formed the second-largest market after enzymes
Whey protein is a type of protein extracted from dairy products like milk. This protein has greater digestibility and amino acid balance score. Whey has a neutral flavor which means it can be used in different products without changing their taste and functionality. Therefore, it is used on a larger scale across the sports nutrition and food & beverage industries.
By microbe, the bacteria segment is forecasted to account for the highest CAGR in the market
The great biological diversity of microbial species and nearly endless biological synthesis capabilities mean that fermentation-based techniques provide enormous potential for novel alternative protein solutions. Microorganism-based proteins, on the other hand, have a long way to go before they attain parity in terms of flavor, texture, and cost with traditional animal proteins.
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period
Awareness through global animal welfare organizations, such as PETA (People for the Ethical Treatment for Animals), has led to people considering a meat-free diet. Non-meat-based meals are already popular in Asia, with tofu used extensively in Asian cuisines and bean-based congees widely consumed in countries such as China. Key factors driving the demand for precision-fermented egg alternatives in Asia are the increasing number of people preferring a vegetarian diet and the rise in prices of eggs. Additionally, health benefits such as low cholesterol and high-protein content offered by egg alternative protein ingredients drive the demand for these products in this region.
- Heavy Investments and Funding in the Precision Fermentation Space
- Growing Adoption of Vegan and Meat-Free Lifestyles
- Production of Precision-Fermented Ingredients to Have a Lower Carbon Footprint
- Higher Manufacturing Costs Associated with the Production of Ingredients Utilizing Precision Fermentation
- Development of Novel Protein Production Systems
- Lower Production and Supply Chain Costs
- Competitive Product Costing Against Animal-based and Other Alternative Proteins
- Commercialization and Scaling Up of Production
- Customer Acceptance of Precision-Fermented Products
- Change Foods
- Eden Brew
- FUMI Ingredients
- Fybraworks Foods
- Helaina Inc.
- Imagindairy Ltd.
- Impossible Foods Inc.
- Motif FoodWorks, Inc.
- MycoTechnology, Inc.
- New Culture
- Nourish Ingredients Pty Ltd.
- Perfect Day, Inc.
- Remilk Ltd.
- Shiru, Inc.
- The Every Co.
- Triton Algae Innovations
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