Environmental benefits, growing adoption of being vegan, and decreasing dependency on animal-based food are driving demand for dental bone grafts during the forecast period of 2017-2027. According to the TechSci Research report, “Precision Fermentation Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027”, the Global Precisions Fermentation market stood at USD 293.75 in 2021 and is anticipated to grow with CAGR of 38.73% in the forecast period, 2024-2027.
The Major Factors of the Precision Fermentation Market
The major factors driving the growth of the Precisions Fermentation Market include decreasing dependency on animal-based food, growing adoption of being vegan, and Cultured meat production.
Precision Fermentation is microorganisms’ genetic modification and fermentation to create organic molecules. The products produced through the process will be cheaper in the future than those produced by animals. Precision fermentation does not depend upon climatic changes. The food items produced from precision fermentation are regulated like any other food ingredient. As these products are animal-free, vegans still have some allergen capabilities due to their animal counterparts.
Many startups are investing in precision fermentation. These startups include Israel’s Remilk and Imagindairy, Estonia’s ProProtein, the UK-based Better Dairy, and German operation Formo. Berlin-based Formo invested USD50 million to form lab-grown dairy products in September 2021. Companies are investing in precision fermentation because this process can create many complex organic molecules without incorporating animals. The US Department of Agriculture was the first government to invest USD10 million in Tuft’s University to scale up cellular food production in October 2021. Between 2018 and 2020, the Good Food Institute, a non-profit institute in Washington DC, dispensed almost US$3 million in supporting fundamental research on scaling.
Browse over 135 market data Figures spread through 271 Pages and an in-depth TOC on the “Global Precision Fermentation Market” @ https://www.techsciresearch.com/report/precision-fermentation-market/8073.html
The Global Precisions Fermentation Market is segmented into Ingredient Produced, Microbes, End User Industry, Region, and By Company.
The market is segmented into Whey & Casein Protein, Egg White, Collagen Protein, Heme protein, and Others based on the ingredients produced. In 2021, Whey & Casein protein segment holds the major revenue share i.e., 42.68%. Whey & Casein protein is majorly used in the production of dairy products and this process is significantly involved in the production of dairy products. Heme Protein is the fastest growing in forecast years due to the growing adoption of being vegan.
The market is classified into three categories based on the microbe: Yeast, Algae, and Bacteria. With a market share of 46.47% in 2021, yeast is dominating the Global Precision Fermentation Market. The products made by the procedure of precision fermentation are mostly with the help of yeast because it doesn’t require specific environmental conditions for its growth and yeast is anaerobic. Followed by algae, for some products algae are also used to produce by precision fermentation.
Based on regional analysis, in terms of revenue share in 2021, North America dominated the global precisions fermentation market with a market share of 47.26%. Because the startups doing the process to produce dairy products and protein are mainly in North America based. North America accounts major share also due to the highest investments in the region.
The leading companies operating in the Global Precision Fermentation Market are:
- New Culture Inc
- Perfect Day, Inc
- Triton Algae Innovations
- Change Foods, Inc
- Remilk
- Impossible Foods Inc.
- Motif FoodWorks, Inc
- Formo Bio Gmbh
- The Every Company
- Geltor, Inc
- Better Dairy
Download Free Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=8073
Customers can also request 10% free customization on this report.
“Global Precision Fermentation Market will see robust growth during the forecast period of 2017-2027. The market for precision fermentation is expected to develop because people are more concerned regarding the treatment of animals in slaughterhouses, nowadays. Due to that people are focused on the production of food which doesn’t require the use of animals.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Precision Fermentation Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028, Segmented By Ingredient Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others), By Microbe (Yeast, Algae, Bacteria, Others), By End User Industry (Food & Beverage, Pharmaceutical, Cosmetic, Others), By Region”, has evaluated the future growth potential of Global Precision Fermentation Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Precision Fermentation Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Web: https://www.techsciresearch.com
