The Asia Pacific Precision Fermentation Ingredients Market would witness market growth of 44.9% CAGR during the forecast period (2023-2030).
In recent years, the manufacturing cost of these ingredients for the mixture of protein without animal proteins or lipids has increased due to the increasing demand for animal-free products among the vegan population. Using genetically modified yeast or fungus to produce the gene, which is typically encoded in animal DNA, is required for this marketing strategy. Then, bacteria are used to create a product with genuine animal products' texture, flavor, and nutritional profile.
Additionally, precision fermentation contributes to resolving the planet's most serious problems, including land conversion, environmental degradation, and climate change. In addition, one of the factors influencing the market opportunities for these ingredients is the rising investments by the major competitors. Numerous businesses employ precision fermentation technology because it generates many complex organic compounds without using animals.
In addition, increasing investment in the precision fermentation process and technologies, the growing prevalence of cultured meat among consumers, and the rising interest of consumers in consuming a plant-based diet are further supporting the adoption of precision fermentation methods. The rise in the incidences of food allergies, the increasing demand for nutrition, and exceptional food safety are some of the major factors driving the growth of the market.
The development of Japan Agricultural Standards (JAS) for processed vegetarian and vegan meals, as well as food services, has been started in Japan. The Ministry of Agriculture, Forestry, and Fisheries intends to release the JAS proposal in November 2021 and approve it by March 2022. The creation of new voluntary government standards in Japan is likely influenced by the certification requirements for vegetarian and vegan products set by overseas non-governmental organizations. With the rise in vegan food, the market is estimated to grow in Asia in the upcoming years. The significant and rapid expansion of the food and beverages industries of the regional countries along with the vegetarian and vegan population would play a major role in bolstering the growth of the regional market.
The China market dominated the Asia Pacific Precision Fermentation Ingredients Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,624.9 million by 2030. The Japan market is registering a CAGR of 43.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 45.7% during (2023 - 2030).
Based on Ingredients, the market is segmented into Egg White, Collagen Protein, Whey & Casein Protein, Heme Protein, Enzymes, and Others. Based on Microbe, the market is segmented into Yeast, Fungi, Bacteria, and Algae. Based on End Use, the market is segmented into Food & Beverages (Dairy Alternatives, Meat & Seafood, Egg Alternatives, and Others), Pharmaceutical, and Cosmetics & Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Precision Fermentation Ingredients Market is Predict to reach $35.1 Billion by 2030, at a CAGR of 43.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Geltor, Inc., Motif FoodWorks, Inc., Shiru, Inc., Impossible Foods Inc., Perfect Day, Inc., The Every Company, Imagindairy Ltd., New Culture Inc., Eden Brew Pty Ltd and Helaina Inc.
By Ingredients
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