Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Precision Fermentation Market size is expected to reach $11.8 billion by 2028, rising at a market growth of 41.5% CAGR during the forecast period.
The Yeast segment is leading the Global Precision Fermentation Market by Microbe in 2021, thereby, achieving a market value of $4.45 Billion by 2028. The surge in the growth of this segment is majorly attributed to the advent of the COVID-19 pandemic. Yeast can significantly improve and bolster the function of the immune system of a person. During the pandemic, a considerable number of people were focusing on the enhancing their immune system. Owing to this, the demand for fermented yeast boosted.
The Meat & Seafood segment is showcasing a CAGR of 41.7% during (2022 - 2028). Products made from plants like wheat, soy, and pea are known as plant-based meat alternatives. In terms of texture and taste, they resemble the characteristics of animal meat. The precision fermentation technique is commonly used to produce plant-based proteins and lipids from mushrooms, algae, fungi, soy, wheat, and pea that closely resemble the characteristics of animal flesh.
The Enzymes segment acquired maximum revenue share in the Global Precision Fermentation Market by Ingredient in 2021 thereby, achieving a market value of $3.8 Billion by 2028. The growth of the segment is rising due to a rise in the number diseases that affect the stomach of the patient. As enzymes are beneficial in addressing disorders related to digestion and liver, the demand for fermentation of enzymes is being accelerated.
The North America market dominated the Global Precision Fermentation Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.2 Billion by 2028. The Europe market is exhibiting a CAGR of 40.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase highest CAGR of 42.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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