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Precision Fermentation Ingredients Market Trends

Report ID: GMI7531
Published Date: Nov 2023
Report Format: PDF

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Precision Fermentation Ingredients Market Trends

There is a noticeable demand for sustainable, plant-based substitutes as well as fermented ingredients, which will create more opportunities in the Precision Fermentation Ingredients industry. As consumers become increasingly aware about ethical sourcing and prefer that ethically sourced products while advancements in bio-technological are on the rise, innovation will persist over food, pharmaceutical, agriculture and many other sectors of the economy pointing towards growth and more inventions.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for precision fermentation ingredients was valued at USD 2.2 billion in 2022 and is projected to reach over USD 79.7 billion by 2032, driven by rising calls for more environmentally friendly and superior grade ingredients across diverse sectors.

Food & Beverages segment held a dominant market share of around 44% in 2022 and is expected to grow at a lucrative pace by 2032 owing to wider adoption of precision fermentation techniques by companies, and increasing consumer demand for sustainable and plant-based food options.

U.S. dominated North American market with a valuation of USD 643.8 million in 2022 and is anticipated to expand at a significant pace from 2023-2032 driven by the rising acceptance of vegetable-based fermentation ingredients, indicating an increase in consumer demand for green & eco-friendly products.

Ginkgo Bioworks, Perfect Day, Motif FoodWorks, Impossible Foods, Clara Foodsare some of the major industry contenders.