Market Leaders: Geltor (US), Perfect Day, Inc. (US), the Every Co. (US), Impossible Foods Inc. (US), and Motif Foodworks, Inc. (US) are Increasing their Respective Market Shares Steadily Through Expansion and New Product Launches in Precision Fermentation Ingredients Market
The global precision fermentation ingredients market size is estimated to be valued at USD 2.8 billion in 2023 and is projected to reach USD 36.3 billion by 2030, recording a CAGR of 44.0% in terms of value The demand for precision fermentation ingredients is increasing due to the increasing demand for plant-based alternative products worldwide.
Key players operating in this market include Geltor (US), Perfect Day, Inc. (US), The Every Co. (US), Impossible Foods Inc. (US), Motif FoodWorks, INC. (US), Imagindairy Ltd. (Israel), Shiru, Inc. (US), Formo (Germany), Eden Brew (Australia), Change Foods (US), and New Culture (US).
The precision fermentation ingredients market showcases competition among established players seeking market share expansion, while newer start-ups are being established rapidly in the market. Further, regional players contribute significantly to investments and funding. Notably, the Asian countries are witnessing the rise of numerous new and established companies.
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Geltor is a prominent bio-design firm that pioneers in advanced designer proteins. Integrating fermentation, biology, and protein optimization, Geltor produces sustainable and efficient alternative proteins with enhanced functionality. Their 100% animal-free and GMO-free ingredients are globally scalable and cultivated sustainably. Leveraging microbes, the company employs a fermentation process to create products using plant-based and renewable resources. In 2023, Geltor introduced Nucoll and Caviance, novel products catering to haircare and skincare needs. This evolution signifies a transformative approach to beauty and wellness, harnessing biotechnology's potential for creating effective and eco-friendly alternatives.
Perfect Day, Inc. stands out as a prominent manufacturer of animal-free dairy products. It employs safe and established fermentation techniques to create animal-free whey protein using microflora. In contrast to conventional whey production methods, Perfect Day's whey protein powder production achieves remarkable environmental efficiencies: a 99% reduction in water usage, a 97% decrease in greenhouse gas emissions, and approximately 60% lower non-renewable energy consumption. These figures are verified through ISO-compliant, third-party-reviewed life cycle assessments (LCAs). The company has established partnerships with multiple brands, expanding its presence in over 5,000 stores across the United States. Its market influence extends across North America and the Asia Pacific region as well.
In 2022, Perfect Day expanded its global presence in India. The Food Safety and Standards Authority of India approved its animal-free milk proteins for commercialization in the country. Additionally, the acquisition of Sterling Biotech Limited doubles its production capacity, with four new facilities and enhanced precision fermentation capabilities to meet the growing global demand for animal-free protein.
Impossible Foods is engaged in providing plant-based fish, dairy, and meat products. The company’s product portfolio includes various plant-based products such as burgers, sausages, chicken nuggets, pork, and meatballs. Impossible Foods includes soy leghemoglobin manufactured through precision fermentation into its plant-based burger to provide the end product with the desired meat-like texture and taste. The company has its manufacturing facility located in Oakland, CA, US. Additionally, the company has partnered with one of the foremost food processing companies in the US, OSI Group, which provides extra manufacturing space to produce the popular Impossible Sausage and Impossible Burger. As a globally recognized entity, Impossible Foods serves customers across multiple countries, including the United States, Australia, Canada, Hong Kong, Macau, New Zealand, Singapore, the United Arab Emirates, and the United Kingdom.
Related Reports:
Precision Fermentation Ingredients Market by Ingredient (Whey & Casein Protein, Egg White, Collagen Protein, Heme Protein), Microbe (Yeast, Algae, Fungi, Bacteria) End User, Food & Beverage Application, and Region - Global Forecast to 2030
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