Precision Fermentation Market by Microbe, Ingredient, Application, End-User

List of Tables

[198 Pages Report] The Precision Fermentation Market size was estimated at USD 3.05 billion in 2023 and expected to reach USD 3.43 billion in 2024, at a CAGR 12.84% to reach USD 7.12 billion by 2030.

Precision fermentation refers to a novel food technology utilizing genetically modified microorganisms to produce specific proteins, enzymes, and other compounds. Precision fermentation is used in both the food industry and pharmaceutical industries to produce biopharmaceuticals and in the petroleum and diesel industries to produce microbe-based fuels. The driving growth factors for the growth of the precision fermentation industry include rising consumer awareness regarding the consumption of healthy food and increasing government regulations towards animal welfare. Additionally, expanding acceptance of vegan and vegetarian diets across the world has further cemented the adoption of precision fermentation to cater to consumer demand for alternative dairy and protein sources. However, the initial establishment cost for precision fermentation technologies is high, and challenges around scale-up often result in high production costs. Furthermore, consumer acceptance of products produced through this technology may be slow to gain momentum due to unfamiliarity and perceived artificiality of the technology. However, efforts by major manufacturers and government organizations about the health and environmental benefits of the adoption of precision fermentation can overcome challenges related to unfamiliarity with the technology. Key areas of growth include investing in technologies that increase yield or make the fermentation process more efficient and sustainable.

KEY MARKET STATISTICS
Base Year [2023]	USD 3.05 billion
Estimated Year [2024]	USD 3.43 billion
Forecast Year [2030]	USD 7.12 billion
CAGR (%)	12.84%

Microbe: Expanding adoption of yeast in food and beverage industries

Algae refers to a group of aquatic eukaryotic organisms capable of performing photosynthesis. They are rich in proteins and carbohydrates, making them viable choices in the production of sustainable, nutrient-rich foods. Bacteria refer to small, microscopic living organisms that have only one cell. They are feasible options for fermentation because of their robustness in various environmental conditions and their proficiency in producing specific enzymes or proteins of interest. Fungi refer to eukaryotic organisms, including yeasts, molds, and mushrooms. Fungi are associated with strong environmental adaptability, making them suitable microbial hosts for precision fermentation. Yeasts, classified as fungi, refer to eukaryotic, single-celled microorganisms. Precision fermentation uses yeast to produce dairy proteins (whey and casein), delivering the familiar flavor and texture of foods such as cheese and milk without the involvement of animals.

Ingredient: Utilization of precision fermentation for production of enzymes in dairy industries

Collagen is an important human protein that provides structure, support, or strength to skin, muscles, bones, and connective tissues. Proteins such as collagen produced through fermentation serve as key animal-free components of scaffolding for more complex, highly-structured cultivated meat products. Egg white refers to clear liquid (also called albumen) contained within an egg and contains mostly water. With precision fermentation, companies can now produce egg whites in labs, which can reduce egg farming's environmental impact and create cruelty-free alternatives fit for vegan diets. Enzymes, such as amylase, cellulase, and protease, play crucial roles in the food and beverage sectors. Precision fermentation can produce enzymes used in dairy production, which traditionally were extracted from livestock. A hemeprotein, or heme protein, belongs to the class of metalloproteins containing the heme prosthetic group. Heme protein can be cultured using precision fermentation, giving rise to meat-free protein and meat substitutes. Whey protein offers a rapid spike in blood amino acid levels, while casein provides a steady stream. Production of whey and casein using precision fermentation can drive adoption among fitness enthusiasts and athletes.

Application: Inclination towards adoption of meat & seafood alternatives due to ethical considerations and veganism

The dairy alternative space has seen substantial growth over the past few years, driven by increasing lactose intolerance and the rise in veganism. Precision fermentation can be used to produce alternatives to cheese, milk, butter, and milk-based products such as ice cream. The adoption of precision fermentation by the egg alternatives industry is largely driven by consumers with an allergy to eggs and an inclination towards veganism. Precision-fermented eggs can also be made by controlling bacteria to produce proteins identical to those found in animal eggs. In the field of meat and seafood alternatives, the industry is characterized by innovation, largely driven by flexitarians looking to reduce their meat consumption for health, environmental, and ethical reasons.

End-user: Widespread application of precision fermentation in food & beverage end-users to product cruelty-free food products

The cosmetic industry utilizes precision fermentation in the production of its range of skincare, haircare, and other beauty-related products. This technology is employed to produce bio-fermented ingredients enriched with active compounds for an enhanced and lasting impact, ensuring superior product quality and performance. The adoption of precision fermentation equips cosmetic companies with the ability to create cruelty-free and vegan-friendly products. The food & beverage industry leverages precision fermentation in a diverse array of applications, including the production of enzymes, vitamins, probiotics, and other ingredients. As an innovative tool for food science, it aids in improving productivity, cost efficiency, product quality, safety, and sustainability. The fermented food products offer consumers nutritious food that also has an extended shelf life. The pharmaceutical industry employs precision fermentation as a means to produce medications with a high degree of purity and consistency. It is used for the production of antibiotics, hormones, vaccines, and other critical biologics, making life-saving medical procedures possible.

Regional Insights

In the Americas, the United States leads the adoption and demand for precision fermentation, primarily due to its robust biotechnology sector, extensive research and development, and investment in innovation. The market is stimulated by the food and beverage industry's urge to produce novel, sustainable, and cost-effective plant-based proteins using precision fermentation. The growing trend towards veganism and plant-based diets has further compounded this demand. Europe exhibits a significant application of precision fermentation in the brewing industry, where specific strains of yeast and bacteria are controlled to produce desired characteristics in alcoholic beverages. The shift towards personalized and health-centric products propels the use of precision fermentation. Moreover, European regulations encouraging sustainability and reduction in greenhouse gas emissions and ethical standards concerning animal cruelty have engendered interest in precision fermentation as a renewable and cruelty-free method of protein production. In the APAC region, precision fermentation's adoption is driven by the region's burgeoning food and drink sector, particularly in countries such as China, Japan, and South Korea. The utilization of precision fermentation is significant in the fermentation of traditional food and beverages, dairy alternatives, and the production of clean meat. The region is also characterized by the presence of emerging startups that are actively exploring alternative dairy products and vegan food items.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Precision Fermentation Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Precision Fermentation Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Precision Fermentation Market, highlighting leading vendors and their innovative profiles. These include Cargill, Incorporated, Cauldron Ferm, Change Foods, Inc., De Novo Foodlabs, Eden Brew Pty Ltd., Evonik Industries AG, Fonterra Co-operative Group Limited, Formo, Fybraworks Foods, Inc., Geltor, Inc., Helaina Inc., ICL Food, Imagindairy Ltd., Impossible Foods Inc., KeyLeaf Life Sciences, Koninklijke DSM N.V., Liberation Labs Holdings, Inc., Melt&Marble AB, Motif FoodWorks, Inc., Mycorena AB, MycoTechnology, Inc., Nourish Ingredients Pty Ltd., Novozymes, Onego Bio Ltd., Perfect Day, Inc., Remilk Ltd., Shiru, Inc., The Archer-Daniels-Midland Company, The Every Company, and Triton Algae Innovations, Ltd..

Market Segmentation & Coverage

This research report categorizes the Precision Fermentation Market to forecast the revenues and analyze trends in each of the following sub-markets:

Microbe
- Algae
- Bacteria
- Fungi
- Yeast

Ingredient
- Collagen Protein
- Egg White
- Enzymes
- Heme Protein
- Whey & Casein Protein

Application
- Dairy Alternatives
- Egg Alternatives
- Meat & Seafood

End-User
- Cosmetic
- Food & Beverage
- Pharmaceutical

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Precision Fermentation Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Precision Fermentation Market?

3. What are the technology trends and regulatory frameworks in the Precision Fermentation Market?

4. What is the market share of the leading vendors in the Precision Fermentation Market?

5. Which modes and strategic moves are suitable for entering the Precision Fermentation Market?

Product Code: MRR-0D217D5AE03B

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing adoption of sustainable, vegan and healthy food and beverages
  - 5.1.1.2. Increasing demand for plant based GMO protein worldwide and changing consumer tastes and preferences
  - 5.1.1.3. Rising demand of vegan, and animal-free cosmetics
- 5.1.2. Restraints
  - 5.1.2.1. Regulatory hurdles and consumer acceptance
- 5.1.3. Opportunities
  - 5.1.3.1. Development of novel protein production systems for alternative protein producers for healthcare benefit
  - 5.1.3.2. Massive investments and funding in the precision fermentation space
- 5.1.4. Challenges
  - 5.1.4.1. Commercialization and scaling up of production
5.2. Market Segmentation Analysis
- 5.2.1. Microbe: Expanding adoption of yeast in food and beverage industries
- 5.2.2. Ingredient: Utilization of precision fermentation for production of enzymes in dairy industries
- 5.2.3. Application: Inclination towards adoption of meat & seafood alternatives due to ethical considerations and veganism
- 5.2.4. End-user: Widespread application of precision fermentation in food & beverage end-users to product cruelty-free food products
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Precision Fermentation Market, by Microbe

6.1. Introduction
6.2. Algae
6.3. Bacteria
6.4. Fungi
6.5. Yeast

7. Precision Fermentation Market, by Ingredient

7.1. Introduction
7.2. Collagen Protein
7.3. Egg White
7.4. Enzymes
7.5. Heme Protein
7.6. Whey & Casein Protein

8. Precision Fermentation Market, by Application

8.1. Introduction
8.2. Dairy Alternatives
8.3. Egg Alternatives
8.4. Meat & Seafood

9. Precision Fermentation Market, by End-User

9.1. Introduction
9.2. Cosmetic
9.3. Food & Beverage
9.4. Pharmaceutical

10. Americas Precision Fermentation Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Precision Fermentation Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Precision Fermentation Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Formo to Launch "New Class of Products" With Precision Fermentation Eggs
- 13.3.2. Novozymes and Arla Foods Ingredients partner on precision fermentation
- 13.3.3. Cauldron Raises USD 7 Million to Expand Precision Fermentation Platform
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio