Microbial Fermentation Technology Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The microbial fermentation technology market size has grown strongly in recent years. It will grow from $34.56 billion in 2023 to $37.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased demand for rapid and accurate microbial identification methods, expansion of the pharmaceutical industry, increased preference for automation and sterility testing in pharmaceutical industry, rise in demand for consumer products and rise in population worldwide, rise in application of industrial microbiology.
The microbial fermentation technology market size is expected to see strong growth in the next few years. It will grow to $52.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to increasing demand for alcoholic beverages, rising need for fermented food, increasing popularity of crispr-9 technology, growing production of biosimilars, rise in demand for fossils fuel alternative. Major trends in the forecast period include adoption of synthetic biology techniques, developments in bio-processing and creation of novel microbial strains, adoption of advanced technologies like molecular diagnostics, genomics, and proteomics, adoption of testing procedures within the food & beverage industry, technological innovations in fermenters.
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Scope Of Microbial Fermentation Technology MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Microbial Fermentation Technology Market Overview
Market Drivers –
The increasing demand for alcoholic beverages is expected to propel the growth of the microbial fermentation technology market going forward. Alcoholic beverages are fermented liquors containing ethyl alcohol or ethanol as an intoxicating agent, produced from sugars in fruits, berries, grains, and other ingredients such as plant saps, tubers, honey, and milk. The increasing demand for alcoholic beverages can be attributed to changing lifestyles and growing healthier alcoholic options, such as low-calorie, low-alcohol, or organic alcoholic beverages. Microbial fermentation technology is essential for the production of alcoholic beverages, providing precise control, customization, scalability, and environmental sustainability in the fermentation process. For instance, in February 2023, according to Statistics Canada, a Canada-based national statistical agency, liquor authorities and other retail businesses sold $26.1 billion worth of alcoholic beverages in the fiscal year that ended in March 2022, a 2.4% rise over the previous year. Therefore, an increasing demand for alcoholic beverages drives the microbial fermentation technology market.
Market Trends –
Major companies operating in the microbial fermentation technology market are focused on making strategic partnerships to enhance their research and development capabilities, expand their product portfolios, and accelerate the commercialization of innovative fermentation-derived products. These collaborations often aim to leverage complementary expertise, access new markets, and achieve economies of scale, ultimately driving growth and competitiveness in the rapidly evolving field of microbial fermentation technology. For instance, in November 2022, Planetary, a Switzerland-based biotechnology company, signed a Memorandum of Understanding with Konica Minolta, a Japan-based technology company, to launch AI and data-driven technologies for optimizing the control of fermentation processes. The partnership would focus on developing data-driven solutions that can analyze bioprocess data to optimize fermentation processes, reducing the risk of lost production batches and increasing overall efficiency.
The microbial fermentation technology market covered in this report is segmented –
1) By Type: Medical, Industrial, Alcohol Beverages, Food And Feed Products
2) By Application: Antibiotics, Probiotics Supplements, Monoclonal Antibodies, Recombinant Proteins, Biosimilars, Vaccines, Enzymes, Small Molecules
3) By End Users: Bio-Pharmaceutical Companies, Contract Research Organizations (CROs), Contract Manufacturing Organization (CMOs) And Contract Development And Manufacturing Organization (CDMOs), Academic And Research Institutes
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Regional Insights –
Asia Pacific was the largest region in the microbial fermentation technology market in 2023. The regions covered in the microbial fermentation technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the microbial fermentation technology market are Cargill Inc. , Archer Daniels Midland Company , BASF SE, F.Hoffmann-La Roche AG, The Dow Chemical Company , Evonik Industries AG , Royal DSM NV, Ajinomoto Co Inc., Givaudan SA, Lonza Group, AGC Group, Novozymes A/S, United Breweries Ltd, Ginkgo Bioworks Inc., Amyris Inc., Biovectra Inc., BIOZEEN, MycoTechnology Inc., Unibio A/S, Locus Fermentation Solutions, Lygos Inc., Amano Enzyme Inc. , ZymoChem Inc., Conagen inc., NovoNutrients
Table of Contents 1. Executive Summary2. Microbial Fermentation Technology Market Report Structure3. Microbial Fermentation Technology Market Trends And Strategies4. Microbial Fermentation Technology Market – Macro Economic Scenario5. Microbial Fermentation Technology Market Size And Growth…..27. Microbial Fermentation Technology Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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