Global Precision Fermentation Market Report 2022-2027 Featuring New Culture, Perfect Day, Triton Algae, Change Foods, Remilk, Impossible, Motif FoodWorks, Formo Bio, The Every Co, Geltor, Better Dairy
DUBLIN, Oct. 27, 2022 /PRNewswire/ — The “Global Precision Fermentation Market Industry Size By Ingredient Produced, By Microbes, By End-User Industry, and By Region, Forecast and Opportunities, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Precision Fermentation Market was valued at USD293.75 Million in 2021 and is forecast to grow at a CAGR of 38.73%, during the forecast period due to the growing inclination of population toward being vegan and decreasing dependency on animal-based food.
Precision fermentation also helps in planet’s most significant issues such as land conversion, environmental degradation, and climate change.
Furthermore, increasing investments is one of the drivers which is driving the market of precision fermentation. Many startups are entering in this process because this process can form many complex organic compounds without incorporating animals.
No dependency on weather is also a major factor behind the significant growth of precision fermentation’s market. This process is performed under specific conditions in bioreactors for large-scale production of dairy products, proteins, etc.
Growing Adoption of Vegan
In a study conducted by the Food Revolution Organization in 2018, 50% of participants backed the slaughterhouse ban. Additionally, respondents admitted that they are concerned about how animals are treated in the food industry, which is why customers are gravitating toward items made without involvement of animals.
Manufacturers release various plant-based products in the market that include animal-free ingredients from various sources such as plants and microbes to satisfy the need of vegan consumers. Thus, the increasing adoption of a vegan lifestyle drives the precision fermentation market.
Decreasing Dependency on Animal-based products
Due to the COVID-19 pandemic and the war in Ukrainethere’s a shortage of food worldwide and traditional production processes require much time. This is the reason why consumers rely more on alternative products. This crisis depicts the human dependency on plant crops and animal farming for food production.
Precision fermentation is an emerging form of food production based on cellular agriculture by manipulating DNA sequences of animal cells or microorganisms. Food production from microorganisms is independent of any weather change, so it also allows the production of seasonal crops.
Cultured Meat Production
Worldwide, the population is growing, and so is the consumption of meat. Many companies are using substitute technique ie, precision fermentation to produce meat. By using precision fermentation heme proteins are produced which enhance the color and taste of meat.
Regionally, North America dominated the market among Asia-Pacific, Europe, Middle East & Africa and South America region. United States was the largest market in the North America region and stood at USD119.79 million.
Company Profiles: Detailed analysis of the major companies present in Global Precision Fermentation substitute market.
- New Culture Inc
- Perfect Day, Inc
- Triton Algae Innovations
- Change Foods, Inc
- Impossible Foods Inc.
- Motif FoodWorks, Inc
- Formo Bio GmbH
- The Every Company
- Geltor, Inc
- Better Dairy
Precision Fermentation Market, By Ingredient Produced:
- Whey & Casein Protein
- Egg White
- Collagen Protein
- Heme Protein
Precision Fermentation Market, By Microbes:
Precision Fermentation Market, By End User Industry:
- Food & Beverage
Precision Fermentation Market, By Region:
- North America
- United States
- United Kingdom
- South Korea
- Middle East & Africa
- South Africa
- Saudi Arabia
- South America
For more information about this report visit https://www.researchandmarkets.com/r/q32hh8
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SOURCE Research and Markets