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blog details: Meticulous Research®—a leading global market research company, published a research report titled, 'Precision Fermentation Ingredients Market by Type (Whey & Casein Protein, Egg White, Collagen Protein, Enzymes), Microbe (Yeast, Algae, Filamentous Fungi), End User (Food and Beverage {Dairy Products}, Pharmaceutical Industry)— Global Forecast to 2031.'
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According to this latest publication from Meticulous Research®, the global precision fermentation ingredients market is projected to reach $38.02 billion by 2031, at a CAGR of 43.5% from 2024 to 2031.The growth of the precision fermentation ingredients market is mainly driven by the growing population and rising awareness about the benefits of alternative protein, increasing inclination towards a vegan diet, and the growing focus on animal welfare. However, the high preference for animal-sourced products restricts the market growth to some extent.
Moreover, the rising demand for sustainable foods provides significant growth opportunities for the stakeholders operating in this market. However, the high production cost of ingredients is a major challenge for the players in this market.
Key Players:
The global precision fermentation ingredients market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the global precision fermentation ingredients market are Perfect Day, Inc. (U.S.), Impossible Foods Inc. (U.S.), Geltor, Inc. (U.S.), The EVERY Company (U.S.), Motif FoodWorks, Inc. (U.S.), MycoTechnology, Inc. (U.S.), MYCORENA AB (Sweden), Eden Brew Pty Ltd (Australia), Change Foods (U.S.), Formo (Germany), Remilk Ltd (Israel), Triton Algae Innovations (U.S.), Nourish Ingredients Pty Ltd. (Australia), and Imagindairy Ltd. (Israel), among others.
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The global precision fermentation ingredients market is segmented by type (whey & casein protein, egg white, collagen protein, heme protein, enzymes, and other ingredients), by microbe (yeast, algae, filamentous fungi, and bacteria), end user (food and beverages industry [meat & seafood products, dairy products, and other food and beverage products], pharmaceutical industry, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on end user, the global precision fermentation ingredients market is segmented into food and beverage industry, pharmaceutical industry, and other end users. In 2024, the food and beverage industry segment is expected to account for the largest share of the global precision fermentation ingredients market. The large market share of this segment is attributed to the growing demand for food and beverage products due to rapid population growth, increasing consumer preference for foods and beverages containing natural ingredients, shifts in consumer eating patterns and changes in diet trends, and rising demand for dairy alternative due to increasing milk allergies and lactose intolerance cases. Based on end user, the food and beverage industry is further segmented into meat & seafood products, dairy products, and other food and beverage products.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (U.K., Netherlands, Spain, Germany, France, and Rest of Europe), Asia-Pacific (China, Singapore, Japan, India, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, Mexico, and Rest of Latin America) and the Middle East and Africa. In 2024, North America is expected to account for the largest share of the global precision fermentation ingredients market. The large share of this market is mainly attributed to the huge presence of key stakeholders in the region, the rising health awareness among the people, and their shift towards veganism. Moreover, increasing consumer preference towards meat alternatives to reduce animal-sourced meat consumption, focus on producing protein using sustainable methods due to the environmental concerns, and ethical aspects associated with animal protein further support the growth of this market.
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