The InsightAce Analytic Pvt. Ltd. A US market research and consulting firm, has released a 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”
It concluded that 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 (Compound Annual Growth Rate) of 14% during the forecast period of 2023-2031.
The fermentation process uses microscopic bacteria and fungi to produce proteins or other biological molecules that can become ingredients (such as flavourings, enzymes, proteins, and fats) to be incorporated into plant-based products. Fermentation should not be confused with the growing of lab meat (aka cultivated meat or cell meat), which, rather than using bacteria and fungi to multiply producing organic molecules we can use, it grows animal tissues from animal cells.
Advances in the fermentation process are in two fields, biomass fermentation which allows scaling of the production of traditional fermentation techniques into producing great quantities of particular nutrients such as proteins, or precision fermentation which can be designed, often through genetic manipulation, to produce very specific molecules that the microorganism may not necessarily produce in the wild. According to the reports, 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).
The Fermentation Enabled Alternative Protein Market is driven by increasing consumer demand for alternative proteins, and the high demand for sustainable and eco-friendly products, including plant-based and alternative dairy products. To phase out animal agriculture, precision fermentation and regenerative veganic farming can play pivotal roles to be able to feed an increasing number of humans.