The global precision fermentation ingredients market is growing rapidly, with a value of $2.8 billion in 2023 and projected to reach $36.3 billion by 2030, at a CAGR of 44.0%. The market is driven by shifting consumer preferences towards veganism, increased protein consumption, and investments in cutting-edge innovations. Companies like Geltor, Perfect Day, and Impossible Foods are leveraging technological advancements to develop specialized food protein constituents through precision fermentation. The North American market is expected to maintain its dominance, driven by increasing consumer awareness, preference for healthier food ingredients, and the growing trend of veganism. The cosmetics & others segment is projected to have the highest CAGR, driven by the demand for fermented cosmetic products that offer nutrient absorption and skincare benefits. The meat & seafood alternatives segment is also experiencing significant growth, driven by the increasing demand for plant-based proteins and fats that replicate the taste, texture, and nutritional profile of meat products.
The fermentation ingredients market is expanding at a 44% Compound Annual Growth Rate (CAGR), fueling high demand for precision fermentation solutions.
