According to Custom Market Insights (CMI), The Global Microbial Fermentation Technology Market is expected to grow at a compound annual growth rate of 7.8% during the forecast period. As a result, the market is valued at USD 28.23 Billion in the year 2021, and it is expected to grow to USD 52.12 Billion by 2030.
Browse the full “Microbial Fermentation Technology Market Size, Trends, and Insights By Product (Medical, Antibiotics, Probiotics, Monoclonal Antibodies, Recombinant Proteins, Other Biosimilars, Alcohol Beverages, Beer, Spirits, Wine, Others, Industrial, Acetone, Ethanol Butanol, Enzymes Amino Acids, Food, and Feed Products), By End User (Bio-Pharmaceutical Industries, Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOS), Academic Research Institutes, Food, and Feed Industry, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/microbial-fermentation-technology-market/
Market Dynamics
Drivers
The increasing awareness regarding the environment and animal products has boosted the demand for vegan food products or animal-free food products. This purpose can be fulfilled with the help of products made from plants and can also be supported with the use of microbes that provide the fermentation process. The developed countries have mainly concentrated on shifting to vegan food products that help to protect the animals and the environment.
The rapid increase in the number of chemical industries worldwide has emerged as a significant growth factor for the microbial fermentation technology market. In addition, many consumers have reported against using animal products, and hence vegan food products have experienced a massive demand from the present market, which is supported by the help of microbial fermentation technology. These reasons will emerge as the driving forces for the growth of the microbial fermentation technology market during the forecast period.
Restraints
The total cost of manufacturing the various products obtained from microbial fermentation is relatively high and hence emerges as a significant obstruction in the growth phase of the microbial fermentation market. Furthermore, the products obtained from microbial fermentation require proper storage and preservation, without which it can be harmful to the consumers, and hence it emerges as a significant challenge for the growth of the microbial fermentation market.
The complex procedures involved with microbial fermentation to create the various food products impose a high cost on the key market players and hence emerge as a significant challenge for the market’s growth during the forecast period. Therefore, these multiple reasons have emerged as the restraining factors for developing the microbial fermentation market during the forecast period.
Opportunities
The increasing demand for protein among consumers all over the world has emerged as a significant opportunity for the growth of the microbial fermentation technology market, which provides the necessary food products that help to obtain the maximum amount of proteins without consuming the animal food products that in turn hamper the ecological system and the environment.
The extensive research and development programs carried out by the key market players worldwide have emerged as a significant opportunity for the growth of the microbial fermentation technology market, which is expected to grow similarly in the future. In addition, the key market players’ recent innovations have emerged as significant opportunities for market growth.
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Challenges
Extensive commercialization of the various products that are formed with the help of microbial fermentation imposes a high cost on the manufacturers, which hampers the demand and supply chain among the people to a great extent. Various other options available in the market that do not require microbial fermentation emerge as a significant challenge for the growth of the microbial fermentation technology market.
An increase in the production of food created with the help of microbial fermentation also emerges as a significant challenge for the market’s growth. Therefore, these multiple reasons will emerge as challenges for developing the microbial fermentation market during the forecast period.
Report Highlights
Based on product type, the segment of alcoholic beverages has emerged as the most significant global market about the considerable demand experienced by people worldwide for high-quality alcoholic beverages.
The usual number of people who demand alcoholic beverages emerged as the primary driving force for the microbial fermentation technology market. Based on end-user, the segment of chemical industries has emerged as the most significant global market for microbial fermentation technology, which uses these processes for various chemical reactions that need to be carried out to produce several different chemical combinations and products used daily over the world. Based on geography, the region of Asia Pacific has emerged as the most significant global market because of the considerable number of chemical industries located in this region that use microbial fermentation technology for several processes. In addition, rapid modernization and urbanization have given rise to several industrial sectors in this region, which demand advanced microbial fermentation technologies to make the process faster and more efficient.
Regional Snapshots
The geographical sector of Asia Pacific has emerged as the largest market for microbial fermentation technology owing to the vast number of industries and factories that deal with chemical-based products and require advanced technologies for producing several goods and products. The rapid industrialization which has taken place in this part of the world has been a significant reason for boosting the market for microbial fermentation technology, which is used in several chemical industries and factories.
The region of North America has also contributed significantly to the growth of microbial fermentation technology owing to the vast number of chemical industries and factories. The key market players in this region are mainly responsible for this market’s rapid growth. The extensive research and development programs carried out by the key market players for introducing new products into the market have mainly been responsible for boosting the economy for microbial fermentation technology, which is expected to grow further in a similar fashion and hence will contribute significantly to the growth of the market during the future as well. The European region has also considerably contributed to developing the microbial fermentation technology market.
Table of Contents: https://www.custommarketinsights.com/report/microbial-fermentation-technology-market/#table-of-contents
Key Players
- Danone U.K.
- F. Hoffmann-La Roche AG
- Koninklijke DSM NV
- Lonza Group AG
- Novozymes A/S
- Amyris, Inc.
- Biocon Ltd.
- BioVectra Inc.
- TerraVia Holdings, Inc.
- United Breweries Ltd.
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