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Report
United States Precision Fermentation Market By Ingredients Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others), By Microbes (Yeast, Algae, Bacteria, Others), By End User (Food & Beverage, Pharmaceutical, Cosmetic, Others), Region, Competition, Forecast & Opportunities, 2018-2028F
Market Report I 2023-08-01 I 77 Pages I TechSci Research
The United States Precision Fermentation market is anticipated to witness a growth of impressive CAGR in the forecast period, 2023-2028. This can be ascribed to the growing adoption of veganism in the country. As of July 2021, about 2% of consumers between 18 and 75 years of age followed a vegan diet in the United States. Additionally, the growing inclination of people across the country to produce animal-free dairy products and restricting intensive animal agriculture is further expected to support the growth of the United States Precision Fermentation Market in the coming years.
Furthermore, the growing investments in precision fermentation and decreasing dependency on animal-based food also influence the growth of the United States Precision Fermentation market. For instance, Every Co., formerly known as Clara Foods, received USD175 million in Series C funding which was headed by Rage Capital and new investor McWin. Temasek, the Wheatsheaf Group of Grosvenor, TO Ventures, and Prosus Ventures are other investors in the company. The latest round raised the funding to USD 233 Million. The company plans to ramp up the production of animal-free protein and enter a new segment of food applications.
Growing Adoption of Vegan Lifestyle
The expansion of the Precision Fermentation market in the United States will be attributed to the rising popularity of vegan cuisine. Customers choose products created without using animals because there is increased public concern about how animals are treated in the food sector. To meet the demands of the vegan community, many businesses are introducing plant-based products in the market that contain substances devoid of animals from many sources, including microorganisms and plants. Using precision fermentation eliminates the need to use animal products as components. The usage of precision fermentation on a large scale can be very effective, in addition to the advantages for animal welfare, the environment, and public health. Precision fermentation solves the issue of animal exploitation. It's vegan. Precision fermentation made veganism much more accessible by enabling delicious new products.
Increasing Concerns Toward Environment
The precision Fermentation process, which uses less water and land to manufacture specialized nutrients like casein, gelatin, and vitamins, helps significantly reduce the carbon footprint. Resource-intensive industrial animal agriculture exacerbates some of the planet's most significant issues, such as land conversion, environmental degradation, and climate change. Global livestock emissions make up 14.5% of all anthropogenic greenhouse gas emissions today, according to research by the UN's Food and Agricultural Organization (FAO). Industrial animal husbandry also poses serious health risks to the population since it has the potential to increase antibiotic resistance and create environments that are conducive to the development of zoonotic diseases like COVID-19.
Supportive Government Initiatives
The United States' potential role in protein production can be determined by the federal government's decision to implement alternative protein policies. The United States Department of Agriculture was the first government to invest USD10 million in Tuft's University to scale up cellular food production in October 2021. All these initiatives by the government are expected to create lucrative opportunities for the growth of the United States Precision Fermentation Market.
Market Segmentation
The United States Precision Fermentation market can be segmented by ingredients produced, microbes, end users, and by region. Based on the ingredients produced, the market can be divided into whey & casein protein, egg white, collagen protein, heme protein, and others. Based on microbes, the market is divided into yeast, algae, bacteria, and others. Based on end-user, the market can be segmented into food & beverage, pharmaceutical, cosmetic, and others.
Market Players
New Culture Inc., Perfect Day, Inc., Triton Algae Innovations, Change Foods, Inc, Remilk, Imposible Foods Inc., Motif FoodWorks, Inc., Formo Bio Gmbh, Every Company, Geltor, Inc, Better Dairy are some of the leading players operating in the United States Precision Fermentation market.
Report Scope:
In this report, United States Precision Fermentation market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
- United States Precision Fermentation Market, By Ingredients Produced:
o Whey & Casein Protein
o Egg White
o Collagen Protein
o Heme Protein
o Others
- United States Precision Fermentation Market, By Microbes:
o Yeast
o Algae
o Bacteria
o Others
- United States Precision Fermentation Market, By End User:
o Food & Beverage
o Pharmaceutical
o Cosmetic
o Others
- United States Precision Fermentation Market, By Region:
o North-East
o Mid-West
o West
o South
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States Precision Fermentation Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. United States Precision Fermentation Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Ingredients Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others)
5.2.2. By Microbe (Yeast, Algae, Bacteria, Others)
5.2.3. By End User (Food & Beverage, Pharmaceutical, Cosmetic, Others)
5.2.4. By Region (2022)
5.2.5. By Company (Major Fundraisers)
5.3. Product Market Map
6. North-East United States Precision Fermentation Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Ingredients Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others)
6.2.2. By Microbe (Yeast, Algae, Bacteria, Others)
6.2.3. By End User (Food & Beverage, Pharmaceutical, Cosmetic, Others)
7. Mid-West United States Precision Fermentation Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Ingredients Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others)
7.2.2. By Microbe (Yeast, Algae, Bacteria, Others)
7.2.3. By End User (Food & Beverage, Pharmaceutical, Cosmetic, Others)
8. West United States Precision Fermentation Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Ingredients Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others)
8.2.2. By Microbe (Yeast, Algae, Bacteria, Others)
8.2.3. By End User (Food & Beverage, Pharmaceutical, Cosmetic, Others)
9. South United States Precision Fermentation Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Ingredients Produced (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein, Others)
9.2.2. By Microbe (Yeast, Algae, Bacteria, Others)
9.2.3. By End User (Food & Beverage, Pharmaceutical, Cosmetic, Others)
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
12. Policy & Regulatory Landscape
13. United States Precision Fermentation: SWOT Analysis
14. Porter's Five Forces Analysis
14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products
15. Competitive Landscape
15.1. Business Overview
15.2. Product Offerings
15.3. Recent Developments
15.4. Financials (As Reported)
15.5. Key Personnel
15.6. SWOT Analysis
15.6.1. New Culture Inc.
15.6.2. Perfect Day, Inc.
15.6.3. Triton Algae Innovations
15.6.4. Change Foods, Inc
15.6.5. Imposible Foods Inc.
15.6.6. Motif FoodWorks, Inc.
15.6.7. The Every Company
15.6.8. Geltor, Inc
16. Strategic Recommendations
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