Global Fermentation for Alternative Protein Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fermentation for Alternative Protein Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fermentation is a powerful, flexible process for using microorganisms to produce alternative proteins. Fermented alternative proteins are made using one of three production types: traditional fermentation, biomass fermentation or precision fermentation. This report studies the global Fermentation for Alternative Protein market.

Market Overview:

The latest research study on the global Fermentation for Alternative Protein market finds that the global Fermentation for Alternative Protein market reached a value of USD 470.77 million in 2022. It’s expected that the market will achieve USD 7987.44 million by 2028, exhibiting a CAGR of 60.3% during the forecast period.

Influence of COVID-19 Outbreak on Fermentation for Alternative Protein Industry Development

In order to curb the COVID-19 epidemic, most countries have introduced many policies, including border blockade and social distancing. The epidemic prevention and control measures will affect the flow of people and activities, and in turn affect logistics, making the production of alternative protein, affected by the supply of raw materials and labor shortages.For the Fermentation for Alternative Protein industry, the blockade policy will affect the supply of raw materials and production of products. The social distancing policy may have a great impact on the production of products, especially for factories, they will spend more money to maintain production during the epidemic, and factories may face the risk of closure in some areas. With the gradual control of the epidemic, some factories began to resume operation. However, while operating production, enterprises need to protect the life and health of employees, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after the production, and testing the body temperature of employees every day to ensure the health of employees. These measures will increase the production cost of enterprises and affect the development of enterprises.But in the long term, the COVID-19 outbreak may cause more factories to start using more automated production lines to avoid the pandemic's impact on the industry. In addition, the application of IoT technology may also bring more opportunities for industry participants.

Drivers

Growing world population is expected to reach 9.8 billion people over the next 30 years, requiring a reliable and sustainable source for proteins essential to human health. The world's growing population and its increasing demand for protein require efficient and sustainable methods to meet these demands. The current industrial production methods, such as feeding grains and soybeans to animals in industrial farms, will put pressure on the environment and require a lot of energy, land and water. Factory farms are also a concern of animal welfare. It is a sustainable and humane way to produce animal protein by using the technology of fermentation to produce protein, which can provide people with the animal food they want to eat.

Industry Limitations

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made. The Fermentation for Alternative Protein industry is facing a fierce competitive position. Many companies have been doing business in this industry. They pay more attention to R&D, product innovation, channel construction and customer relationship management, trying to gain greater market share and competitive advantage.

Industry Opportunities

Traditional fermentation produces products with unique flavor and nutritional characteristics and improved texture. Biomass fermentation utilizes the rapid growth of many microorganisms and high protein content to efficiently produce a large number of protein. Precision fermentation can produce enzymes, flavoring agents, vitamins, natural pigments and fats. Examples include Perfect Day's dairy proteins, Clara Foods' egg proteins, and Impossible Foods' heme protein. Although microbial fermentation has a long history in the field of food and industrial biotechnology, the great innovation potential has not been developed yet. The great biodiversity of microbial species, coupled with almost unlimited biosynthetic capacity, has turned into a great opportunity to produce new alternative protein solutions from fermentation methods. Selection and design, strain development, raw material optimization, biological process design and final product formulation and manufacturing will bring opportunities for fermentation innovations, thus promote the industry.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview

Impossible Foods is one of the major players operating in the Fermentation for Alternative Protein market, holding a share of 23.75% in 2021.Impossible Foods Inc. is a company that develops plant-based substitutes for meat products. The company's stated aim is to give people the taste and nutritional benefits of meat without the negative health and environmental impacts associated with livestock products.Quorn Foods is a pioneering food company that believes all need to make changes to what people eat. Since 1985, via brands Quorn and Cauldron, Quorn have been providing delicious food that is healthy for both the planet and its people, with protein cultivated from non-animal sources.

Segmentation Overview:

By type, Precision fermentation segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Offline segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Fermentation for Alternative Protein market covered in Chapter 3:

Motif FoodWorksMycorenaPerfect DayThe EVERY CompanyImpossible FoodsPrime RootsMoocho foodsQuornNature's FyndMycoTechnologyPlanterra FoodsGeltorThe Protein BreweryAtlast Food Co.,Meati FoodsGood CatchBetter Nature

In Chapter 4 and Chapter 14.2, on the basis of types, the Fermentation for Alternative Protein market from 2018 to 2029 is primarily split into:

Precision fermentationBiomass fermentationTraditional fermentation

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fermentation for Alternative Protein market from 2018 to 2029 covers:

OnlineOffline

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)Latin America (Brazil, Mexico, Argentina)Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)