Asia Pacific Precision Fermentation Market Size, Share & Industry Trends Analysis Report By Microbe, By Application (Dairy Alternatives, Meat & Seafood, Egg Alternatives and Others), By Ingredient, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Precision Fermentation Market would witness market growth of 42.2% CAGR during the forecast period (2022-2028).
The usage of pure soy leg hemoglobin is a significant example of precision fermentation's application to alternative proteins. Moreover, Heme, a flavoring component made from Pichia pastoris, is also being added to burgers by several brands to give the finished product a variety of organoleptic qualities. Due to their distinct activity in dairy products, other recombinant proteins, including casein and whey are important targets. To make a finished product, these proteins can be mixed with components produced from plants. For instance, the ice cream base for Perfect Day is created by mixing coconut oil, sugar, and sunflower oil with recombinant whey produced through fermentation.
In order to produce cultured meat, target molecules, such as growth factors free of animal origin, are used. Existing players in this market include ORF Genetics, Richcore, and Peprotech. Furthermore, the major animal-free components of the architecture for more sophisticated, highly structured farmed meat products may include proteins created through fermentation, like collagen or fibronectin.
The majority of the F&B revenue in China is produced by non-franchised businesses, which presents a growth opportunity for franchised brands. The China Chain Store & Franchise Association stated that China's food and beverage (F&B) industry reached approximately $595 billion in 2019, an increase of 7.8% from 2018. While quick-service restaurant (QSR) franchises in China are still successful, they are now up against more Chinese franchisees in markets like leisure beverages and hotpot eateries that serve takeout food. In China's smaller, less established Tier 3 and Tier 4 cities, franchisors can have less competition. The graph below contrasts the expansion rates of new franchise locations in China's larger and smaller cities.
The China market dominated the Asia Pacific Precision Fermentation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $964.9 million by 2028.The Japan market is estimated to grow a CAGR of 41.3% during (2022 - 2028). Additionally, The India market would experience a CAGR of 43% during (2022 - 2028).
Based on Microbe, the market is segmented into Yeast, Fungi, Algae and Bacteria. Based on Application, the market is segmented into Dairy Alternatives, Meat & Seafood, Egg Alternatives and Others. Based on Ingredient, the market is segmented into Enzymes, Heme Protein, Egg White, Collagen Protein, Whey & Casein Protein and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Motif FoodWorks, Inc., Perfect Day, Inc., Geltor, Inc., Nourish Ingredients Pty Ltd., The Every Company, Impossible Foods, Inc., Shiru, Inc., Mycorena AB, Remilk Ltd., and Triton Algae Innovations, Ltd.
Scope of the Study
Market Segments Covered in the Report:
- Dairy Alternatives
- Meat & Seafood
- Egg Alternatives
- Heme Protein
- Egg White
- Collagen Protein
- Whey & Casein Protein
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Motif FoodWorks, Inc.
- Perfect Day, Inc.
- Geltor, Inc.
- Nourish Ingredients Pty Ltd.
- The EVERY Company
- Impossible Foods, Inc.
- Shiru, Inc.
- Mycorena AB
- Remilk Ltd.
- Triton Algae Innovations, Ltd.
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