Precision fermentation Ingredient growth will required
Author : ankita barure | Published On : 28 Mar 2024
Meticulous Research®—a leading global market research company, published a research report titled, 'Precision Fermentation Ingredients Market by Type (Whey & Casein Protein, Egg White, Collagen Protein, Enzymes), Microbe (Yeast, Algae, Filamentous Fungi), End User (Food and Beverage {Dairy Products}, Pharmaceutical Industry)— Global Forecast to 2031.'
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According to this latest publication from Meticulous Research®, the global precision fermentation ingredients market is projected to reach $38.02 billion by 2031, at a CAGR of 43.5% from 2024 to 2031.The growth of the precision fermentation ingredients market is mainly driven by the growing population and rising awareness about the benefits of alternative protein, increasing inclination towards a vegan diet, and the growing focus on animal welfare. However, the high preference for animal-sourced products restricts the market growth to some extent.
Moreover, the rising demand for sustainable foods provides significant growth opportunities for the stakeholders operating in this market. However, the high production cost of ingredients is a major challenge for the players in this market.
Key Findings in the Precision Fermentation Ingredients Market Study:
In 2024, the Whey & Casein Protein Segment is Expected to Dominate the Precision Fermentation Ingredients Market
Based on type, the global precision fermentation ingredients market is segmented into whey & casein protein, egg white, collagen protein, heme protein, enzymes, and other ingredient types. In 2024, the whey & casein protein segment is expected to account for the largest share of the global precision fermentation ingredients market. The large market share of this segment is attributed to the presence of a wide range of applications of whey & casein proteins in several food and beverage products. Moreover, the rising demand for dairy ingredients, consumer awareness towards a healthy diet, rising trend of health clubs and fitness centers, an increasing percentage of older age people, and keen interest of youngsters towards sports and nutrition are some of the factors that further support the growth of this market.
However, the egg white segment is projected to register the highest CAGR during the forecast period of 2024–2031 due to egg whites providing a low-fat and high-protein option, its increasing demand due to its uses in various food products, and egg whites being allergen free. In addition, growing vegetarianism and increasing preference for sustainably sourced products are driving the growth of the segment.
In 2024, the Yeast Segment is Expected to Dominate the Global Precision Fermentation Ingredients Market
Based on microbe, the global precision fermentation ingredients market is segmented into yeast, algae, filamentous fungi, and bacteria. In 2024, the yeast segment is expected to account for the largest share of the global precision fermentation ingredients market. The large market share of this segment is attributed to the need for high-quality proteins and enzymes, the high secretion capabilities of some filamentous fungi, and its high usage in food and beverages due to its higher digestible properties and containing all the 20 essential amino acids.
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In 2024, the Food and Beverage Industry Segment is Expected to Dominate the Global Precision Fermentation Ingredients Market
Based on end user, the global precision fermentation ingredients market is segmented into food and beverage industry, pharmaceutical industry, and other end users. In 2024, the food and beverage industry segment is expected to account for the largest share of the global precision fermentation ingredients market. The large market share of this segment is attributed to the growing demand for food and beverage products due to rapid population growth, increasing consumer preference for foods and beverages containing natural ingredients, shifts in consumer eating patterns and changes in diet trends, and rising demand for dairy alternative due to increasing milk allergies and lactose intolerance cases. Based on end user, the food and beverage industry is further segmented into meat & seafood products, dairy products, and other food and beverage products.
Key Players
The key players operating in the global precision fermentation ingredients market are Perfect Day, Inc. (U.S.), Impossible Foods Inc. (U.S.), Geltor, Inc. (U.S.), The EVERY Company (U.S.), Motif FoodWorks, Inc. (U.S.), MycoTechnology, Inc. (U.S.), MYCORENA AB (Sweden), Eden Brew Pty Ltd (Australia), Change Foods (U.S.), Formo (Germany), Remilk Ltd (Israel), Triton Algae Innovations (U.S.), Nourish Ingredients Pty Ltd. (Australia), and Imagindairy Ltd. (Israel), among others.
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