Precision Fermentation Market

Global Precision Fermentation Market: Overview

In the past few years, considerable breakthroughs have been made in the field of genetic engineering. This has resulted in the emergence of sustainable methods for reprogramming of various micro-organisms for the betterment of the synthetic biology domain for development of a massive range of specialized protein foods and constituents. Additionally, these breakthroughs have also helped in lowering the costs of these protein products. These factors are anticipated to promote the expansion of the global precision fermentation market in coming years.

Increasing inclination of a large group of the global population to consume vegan food has led to an increase in the number of meat alternative products in the world. This trend is aiding in the expansion of the market. Some other key drivers for the global precision fermentation market include rising interest of consumers in consuming plant-based diet, increase in the instances of food allergies, rising demand for nutrition and unparalleled food safety, and various health benefits offered by these meat –free protein alternatives.

Global Precision Fermentation Market: Major Trends and Drivers

Rising demand for protein across the world, shifting preferences and tastes of consumers, and increase in the number of both - innovations and investments are some of the key drivers propelling growth within the global precision fermentation market. In addition to this, rising preference and adoption of meat-free as well as vegan lifestyles is also fueling the demand within the global precision fermentation market. These trends can be attributed to an increase in the awareness among customers about unfair and cruel treatment of animals in the food sector, as well as the rising vegan population.

However, the high cost required for manufacturing of protein ingredients through usage of precision fermentation processes may hinder the growth of the global precision fermentation market in near future. Furthermore, issues faced while scaling up the manufacturing capacities and commercialization may also create substantial barriers for the expansion of global precision fermentation market in coming years. On the other hand, efforts taken by market players for developing innovative new systems for production of essential protein constituents may bolster the industry’s growth in years to come. Players in the global precision fermentation market are achieving this through targeted research and development efforts.

Global Precision Fermentation Market: Key Players and Manufacturers

Some of the leading players operating in the global precision fermentation market are Impossible Foods, Inc., The Every Co., Myco Technology, Eden Brew, Formo, Triton Algae Innovations, FUMI Ingredients, Nourish Ingredients Pty Ltd., Shiru, Inc., Helaina Inc., Pefect Day, inc., Geltor, Motif Food Works Inc., Mycorena, Change Foods, Remilk Ltd., Melt & Marble, Fybraworks Foods, Imagindairy Ltd., and New Culture, among others. Players in the market are launching new plant-based meat alternative products to capture a larger consumer base.

For example, Impossible Sausage Patties and Impossible Chicken Nuggets, two food products produced using animal-free ingredients were launched by Impossible Foods in May of 2022 in the United Kingdom. Similarly, an animal-free version of beef fat was launched by Melt & Marble in May of 2022. Furthermore, a new candy bar that consists of animal-free whey protein, cow-free nougat, organic peanuts, chocolate, and caramel, was launched by Betterland Foods in Match of 2022, using animal-free ingredients provided by Perfect Day.

Global Precision Fermentation Market: Regional Assessment

Regionally, North America is anticipated to emerge as the leading regional market in coming years. Rising awareness regarding health benefits of consuming healthy and vegan food products, as well as increase in trends of weight management and veganism amongst regional consumers is propelling the growth of North America precision fermentation market. Furthermore, reduced meat consumption and resulting increase in the consumption of meat alternative products is also aiding in the expansion of the market. Moreover, increasing demand for protein products derived through precision fermentation processes for applications such as dairy alternatives, meat extenders, and meat analogs, is also supporting the growth within this regional market.