Market research firm Research and Markets has published a new trend report on the global precision fermentation ingredients market. According to the report, the global market could reach an estimated value of $31.2 billion by 2030, with a strong compound annual growth rate (CAGR) of 42.6% between 2024 and 2030.
The future of the global precision fermentation ingredients market looks promising, says the report, with opportunities in the food and beverage, pharmaceutical and cosmetics markets. The key drivers for this market are increasing consumer demand for sustainable and ethically sourced ingredients, growing awareness of health benefits, and ongoing advances in biotechnology and fermentation processes.
According to the authors of the new report, mushrooms will remain the largest segment in the market during the forecast period. North America will be the region with the highest growth potential during the forecast period due to increasing consumer awareness and increasing consumption of healthy food ingredients. Within the global market, the food industry will experience the greatest growth alongside the pharmaceutical industry.
Key players in the food ingredients and precision fermentation products market include companies such as Perfect Day, The Every Co, Motif FoodWorks, and Imagindairy. The key players in this market are focused on expanding their production facilities, R&D investments, infrastructure development and leveraging integration opportunities across the value chain. With these strategies, precision fermentation ingredient companies want to meet increasing demand, ensure their competitiveness, develop innovative products and technologies, reduce their often very high production costs, and expand their customer base.
Explore Cultivated X: The new cellular agriculture business magazine
Last week, vegconom GmbH, the company behind vegconomist, launched a new online publication, the specialist magazine Cultivated X, with a focus on all news in the cell-ag and precision fermentation space.
