Fermentation Enabled Alternative Protein Market worth $1191.0 Million by 2031 - Exclusive Report by InsightAce Analytic

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Jul 26, 2023, 11:30 ET

JERSEY CITY, N.J., July 26, 2023 /PRNewswire/ -- 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:

Better Dairy
Bolder Foods
Bosque Foods GmbH
Clara Food (EVERY Company)
Geltor
Impossible Foods
MeliBio
Melt&Marble
Mighty Drinks
Tofurky (Aquired by Morinaga Nutritional Foods)
Mycorena
Nature's Fynd
Noblegen
NoPalm Ingredients
Nourish Ingredients
Nutropy
Odontella
Perfect Day
Planterra
Prime Roots
Quorn
Other Prominent Players

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:

In March 2023, Impossible Foods launched its leanest, most protein-packed beef from plants. Impossible Beef Lite, made from plants, has 75% less saturated fat than lean beef made from animals, no cholesterol, & a lighter footprint on the planet.
In May 2022, Melt&Marble advanced the production of fermentation-derived animal fats and secured a €5M round. Melt&Marble's precision fermentation platform enables it to create customized fats with molecular properties mirroring those of animal fats, allowing for ingredients that deliver the flavour, melt, and mouthfeel of natural animal fat.
In March 2021, Nourish Ingredients raised $11M USD to create sustainable, better-tasting, animal-free fats. The company uses fermentation to develop sustainably-sourced fat compounds for use in plant-based alternative protein food products.

Market Segments

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Process

Precision fermentation
Biomass fermentation
Traditional Fermentation

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Application

Dairy
Meat
Egg white
Others (Beverages, Snacks And Cereals, Fats & Oils, Collagen, Gelatin, Animal Feed, Aquaculture)

Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2023 to 2031 based on Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

North America Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031

U.S.
Canada

Europe Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031

Germany
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031

India
China
Japan
South Korea
Australia & New Zealand

Latin America Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031

Brazil
Mexico
Rest of Latin America

Middle East & Africa Fermentation Enabled Alternative Protein Market Revenue (US$ Million) by Country, 2023 to 2031

GCC Countries
South Africa
Rest of Middle East & Africa

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Why should buy this report:

Ø To receive a comprehensive analysis of the prospects for the global fermentation enabled alternative protein market

Ø To receive an industry overview and future trends in the global fermentation enabled alternative protein market

Ø To analyze the fermentation enabled alternative protein market drivers and challenges

Ø To get information on the fermentation enabled alternative protein market size value (US$ Mn) forecast till 2031

Ø Major Investments, Mergers & Acquisitions in the global fermentation enabled alternative protein market

Other Related Reports Published by InsightAce Analytic:

https://www.insightaceanalytic.com/report/global-alternative-proteins-market/1085

https://www.insightaceanalytic.com/report/global-animal-microbiome-market/1046

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