The report "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), & Region - Global Forecast to 2030" published by MarketsandMarkets, the global precision fermentation market size 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. Production of precision-fermented ingredients with a less carbon footprint is expected to drive the precision fermentation market.
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The meat & seafood segment is projected to grow at the highest CAGR in the precision fermentation market
Plant-based meat products are meat alternatives derived from plant sources such as soy, wheat, and pea. They mimic the properties of animal meat in terms of taste and texture. To imitate the properties of animal meat, plant-based proteins and fats are made of mushrooms, fungi, algae, soy, wheat, and pea and are widely used in meat alternatives via precision fermentation technology. They provide the same tenderness and juiciness as meat, in addition to providing a better nutritional profile.
The heme protein segment is projected to grow with the highest CAGR in the precision fermentation market
The heme protein segment will grow with the highest CAGR in the precision fermentation market based on ingredients. With the growing alternative protein sector, fermentation continues to witness a boost owing to strong technological advancements across all applications in the food industry. Fermentation is utilized to enhance the sensory and functional characteristics, accelerating the alternative protein space to attain the desired taste, identical to regular animal products.
The bacteria segment is anticipated to grow at the highest CAGR in the precision fermentation market
By microbe, the precision fermentation market is segmented into yeast, fungi, bacteria, and algae. Bacteria are mostly utilized in anaerobic fermentation to make organic acids and alcohols, as well as aerobic fermentation to produce enzymes. Lactic acid bacteria (LAB) are well-known natural fermenters for producing lactic acid, as well as Bacillus species such as B. subtilis, B. amyloliquefaciens, B. licheniformis, and B. megaterium for producing antibiotics, enzymes, biopolymers, and surfactins.
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The Asia Pacific region is projected to grow at the highest CAGR in the precision fermentation market during the forecast period
The key factors driving the Asia Pacific precision fermentation market are the changing lifestyles of consumers, the rapid growth of the middle-class population, and rising consumer awareness about health & fitness. Also, investments and expansions in the region drive the growth of the Asia Pacific market.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Geltor (US), Perfect Day, Inc. (US), The Every Co. (US), Impossible Foods Inc. (US), and Motif FoodWorks, Inc. (US).