The global precision fermentation ingredients market, valued at USD 2.8 billion in 2023, is projected to soar to USD 36.3 billion by 2030, with a remarkable CAGR of 44.0%. This growth is largely driven by the production of precision-fermented ingredients that boast a reduced carbon footprint. The increasing demand for these ingredients arises from their ability to precisely engineer specific molecules, fueling innovation across the food, pharmaceutical, and cosmetics industries, and facilitating the development of unique and unparalleled products.
Precision Fermentation Ingredients Market Drivers: Growing adoption of vegan as well as meat-free lifestyles
According to research conducted by The Hartman Group, the landscape of the North American precision fermentation ingredients market is poised for a transformative shift Around 40% of U.S. adults, over 90 million individuals, are ready to embrace precision fermentation products, projected to reach 132 million consumers by 2027. Younger generations are receptive due to environmental concerns and sustainability, with the second most influential factor being the positive impact on the environment. This aligns with their preference for sustainable consumption. The link between precision fermentation and sustainability, including reduced greenhouse gas emissions, natural farming, and sustainable packaging, offers innovation potential. Millennials and Gen Z are willing to pay up to 10% more for such products. This technology serves as a catalyst for a more sustainable and technologically advanced market landscape shaped by evolving consumer preferences and environmental consciousness. This trend invariably is supporting the precision fermentation ingredients market growth.
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By end-use industries, the pharmaceuticals segment is projected to grow with the second-highest CAGR in the precision fermentation ingredients market during the forecast period.
Advancements in biotechnology are driving significant growth, particularly through pioneering efforts in precision fermentation. This innovative technique plays a fundamental role in generating intricate pharmaceutical compounds efficiently. By precisely manipulating microorganisms, it enables cost-effective synthesis of active pharmaceutical ingredients (APIs), thereby accelerating drug development processes. Notably, this method reduces dependence on conventional extraction methods, leading to streamlined production, minimized environmental footprint, and enhanced product consistency. As the pharmaceutical sector prioritizes sustainable and regulated manufacturing approaches, precision fermentation emerges as a transformative force, reshaping the industry's landscape.
By microbe type, the fungi segment constitutes around one-fourth of the global demand.
Extensive exploration and development efforts within the realm of precision fermentation have facilitated the transformation of animal-free protein alternatives by harnessing microbes like bacteria, yeast, and fungi. One key advantage of leveraging fungal metabolic engineering lies in their eukaryotic origins, enabling them to effectively tolerate and express heterologous eukaryotic proteins and enzymes. This capability ensures proper protein folding and post-translational modifications. Notably, Better Meat Co., a US-based firm, pioneered a process for biomass protein extraction from the filamentous fungi Neurospora crassa. Additionally, in February 2022, the VTT Technical Research Centre of Finland achieved a breakthrough by producing egg white protein (ovalbumin) from fungi through precision fermentation.
Top Companies in the Precision Fermentation Ingredients Market
Key players operating in this market include Geltor (US), Perfect Day, Inc. (US), The Every Co. (US), Impossible Foods Inc. (US), Motif FoodWorks, INC. (US), Imagindairy Ltd. (Israel), Shiru, Inc. (US), Formo (Germany), Eden Brew (Australia), Change Foods (US), and New Culture (US).
