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InsightAce Analytic Pvt. Ltd. announces the release of the market assessment report on “Global Fermentation Enabled Alternative Protein Market Size, Share & Trends Analysis Report By Process (Precision, Biomass, and Traditional Fermentation), By Application (Food (Dairy, Meat, Egg white, others) Market Outlook And Industry Analysis 2031″
According to the latest research by InsightAce Analytic, the Global Fermentation Enabled Alternative Protein Market Size is valued at US$ 370.39 Mn in 2022, and it is expected to reach US$ 1191.06 Mn in 2031, recording a promising CAGR of 14% during the forecast period of 2023-2031.
The fermentation process uses microbial organisms to break down compounds and produce proteins, or specialized ingredients, such as flavourings, enzymes, proteins, and fats, for incorporation into plant-based products or cultivated meat.
The fermentation-enabled alternative protein market players most commonly imply traditional biomass and precision fermentation. Plant-derived ingredients are created and processed by using microorganisms in traditional fermentation. Biomass fermentation effectively produces significant amounts of protein by utilizing microorganisms’ rapid growth and high protein content. Whereas specially designed microorganisms are used in precision fermentation to produce functional ingredients.
Most market players have been developing fermentation methods to produce alternative proteins in the past five years, with over 50 players in the industry (the majority concentrating in the US).
Key players in this sector are partnering with companies across the globe to drive investment, accelerate innovation, improve product taste, and scale the supply chain, all faster than market forces alone would allow. The result will be better quality and price of end products, boosting further adoption.
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Some of the prominent players in the Fermentation Enabled Alternative Protein Market are:
Fermentation Enabled Alternative Protein Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 370.39 Mn |
|
Revenue Forecast In 2031 |
USD 1191.06 Mn |
|
Growth Rate CAGR |
CAGR of 14 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Process, By Application |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Better Dairy, Bolder Foods, Bosque Foods GmbH, Clara Food, Geltor, Impossible Foods, MeliBio, Melt&Marble, Mighty Drinks, Tofurky, Mycorena, Nature’s Fynd, Noblegen, Noma, NoPalm Ingredients, Nourish Ingredients, Nutropy, Odontella, Perfect Day, Planterra, Prime Roots, Quorn, and others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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Market Dynamics:
Drivers:
The Fermentation Enabled Alternative Protein Market is driven by increasing consumer demand for alternative proteins that are as delicious, affordable, and accessible as conventional products. Furthermore, the high demand for sustainable & eco-friendly products, increasing demand for plant-based and alternative dairy products, advancements in fermentation technologies, and R&D efforts for alternative protein improvements are accelerating the market growth.
Increasing Consumer Demand For Alternative Proteins
Changing consumer behaviour and interest in alternative-protein sources—due to health and environmental considerations and animal welfare have made way for growth in the fermentation-enabled alternative protein market. Moreover, precision fermentation allows for producing plant-based products high in protein, such as meat substitutes, without the need for animal agriculture.
Challenges:
Most consumers prefer traditional production methods and are unwilling to switch to alternative products, even if they are more sustainable and eco-friendly. To overcome such challenges, companies need to focus on creating awareness about the safety and benefits of alternative proteins and developing products that meet consumer preferences & taste expectations. This could involve conducting taste tests, consumer surveys and investing more in marketing & advertising to get feedback and make improvements. The cost of production, complicated extraction processes, and region-wise changes in regulatory standards are also concerns of this market.
Regional Trends:
The North American fermentation-enabled alternative protein market is expected to grow at the fastest growth rate over the forecast period. The market’s growth is primarily driven by increased demand for sustainable and alternative protein sources and technological advancements. In addition, the Europe market holds the second-highest revenue share of the fermentation-enabled alternative protein market. This development can be attributed to the growing investments in R&D, increasing consumer preferences for sustainable & eco-friendly products, and the increasing public awareness regarding the benefits of plant-based food products.
Key Developments In The Market:
Market Segments
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Process
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Application
Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Region
North America Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031
Europe Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031
Asia Pacific Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031
Latin America Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031
Middle East & Africa Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031
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