Advancing technology is driving the growth in Global Precision Fermentation Market in the forecast period, 2022-2026.
According to TechSci Research report, “Precision Fermentation Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026”, the global precision fermentation market has a potential to project an impressive CAGR toward forces growth in the period, 2022-2026, on the account of evolving eating habits and changing lifestyles of consumers. Increasing concerns toward environment is also driving the growth of the global precision fermentation market in the upcoming five years.
Also, surge in the demand for alternative proteins for animal proteins is supporting the growth of the global precision fermentation market in the next five years. Growing reluctance toward consuming animal-based food product like meat is substantiating the growth of the global precision fermentation market in the future five years.
Moreover, added advantages like production of protein that have hypoallergic characteristics; that means these proteins are beneficial and acceptable for the consumers who are allergic to certain kinds of [proteins and thus aids the growth of the global precision farming market. Also, advancing biotechnological advancements and involvement of microbes for the increased quality and quantity of the organic molecules is further supporting the growth of the global precision fermentation market in the forecast years, until 2026.
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The global precision fermentation market is segmented on the basis of ingredient produced, microbe, end user industry, competitional landscape, and regional distribution. Based on ingredient produced, the market is further fragmented into whey & casein protein, egg white, collagen protein, heme protein, and others.
Whey & casein protein is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing demand for the higher quality protein that is satisfied by the whey and casein protein.
Moreover, increased consumption of these proteins for the bodybuilding, and by gym enthusiasts is further substantiating the growth of the global precision fermentation market along with the growth of the sub-segment in the next five years. Increasing demand for heme protein is also substantiating the growth of the global precision fermentation market in the future five years.
On the basis of microbe, the market is bifurcated into yeast, algae, bacteria, and others. Yeasts are anticipated to dominate the market segment and register largest revenue shares of the market in the upcoming five years on the grounds of increased utilization of yeasts for the production of higher quality protein. Moreover, extraction of protein from the yeast cells is easier as compared to bacterial or fungal growths and thus supports the sub-segment growth along with driving the growth of the global precision fermentation market in the next five years.
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Based on end user industry, the market is again sub-segmented into food & beverage, cosmetic, pharmaceutical, and others. Food & beverage industry is anticipated to register largest revenue shares of the market and dominate the market segment in the next five years on the grounds of advancements in the industry. Moreover, fermentation process is traditionally utilized in beer making, and other food processing like cheese making. The growing demands of such food & beverage product is substantiating the growth of the global precision fermentation market in the forecast years.
Some of the market players, dominating the global market are:
- Legendairy Foods Gmbh
- Clara Foods Co.
- Geltor, Inc.
- Impossible Foods Inc.
- Motif FoodWorks, Inc.
- Change Foods, Inc.
- Motif FoodWorks, Inc.
- New Culture Company
- Provenance Biopharmaceuticals Corp
- Perfect Day, Inc.
- Triton Algae Innovations
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“North America is anticipated to hold the largest revenue shares of the market and assert its dominance in the subsequent five years on the account of increasing research and technological advancement in the region. Countries like the United States, and Canada are leading the market on the backbone of rapidly expanding biotechnological industry and its procedural implication on various other industries like pharmaceutical industry, food industry, etc. Moreover, increasing number of market players in the countries are also supporting the growth of the global precision fermentation market in the next five years. Furthermore, venture capital investment across the alternative protein advancement is supporting the market growth of the global precision fermentation market in the future five years. Asia Pacific region is also anticipated to register significant growth in the upcoming five years in the account of advancing food and agriculture industry in the region. Countries like India, China is heavily dependent on the food and agriculture sector for the economic growth. Increasing latest opportunities and advancing technological involvement is anticipated to support the growth of the region as well as the growth of the global precision farming market in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Precision Fermentation Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 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, Cosmetic, Pharmaceutical, Others), By Region”, has evaluated the future growth potential of global precision fermentation 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.
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