The North America Precision Fermentation Market would witness market growth of 40.8% CAGR during the forecast period (2022-2028).
When creating a precision fermentation process, there are a number of factors to consider. Choosing the best producing microorganism, streamlining the cultivation procedure, and scaling up the procedure are a few of these aspects. To conduct a precise fermentation process from conception to completion, effective teamwork involving multiple groups, including downstream processing, fermentation, purification, as well as strain engineering, is required. Despite the extensive history of microbial fermentation in food and industrial biotechnology, there is still a ton of unrealized opportunities for innovation.
Due to the enormous biodiversity of microbial species along with their nearly infinite capacity for biological synthesis, fermentation-based methods hold a tremendous amount of potential for the development of novel alternative protein solutions. The five core areas of feedstock optimization, target design and selection, bioprocess design, strain development, and end-product formulation and manufacturing can be used to segment opportunities for developing fermentation.
The food and beverage sector of the region is rapidly expanding in the United States. According to the National Institute of Standard and Technology, the third-largest contributor to the overall manufacturing gross domestic product in the United States is the food and beverage sector. Over 1.8 million people are employed in the sector as a whole, and more than 75% of the 27,000 food manufacturers in the US employ fewer than 100 people. The Food Safety Modernization Act compliance, adopting sustainable packaging and production methods, technological developments, and other issues are only a few of the difficulties faced by the food manufacturing industry.
The US market dominated the North America Precision Fermentation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,035 million by 2028. The Canada market is poised to grow at a CAGR of 44% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 42.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Precision Fermentation Market is Estimated to reach $11.8 Billion by 2028, at a CAGR of 41.5%
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.
By Microbe
By Application
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