Microbial Fermentation Technology Market Set to Register a CAGR of 6.5% and Reach US$ 82.3 Billion by 2031 | Growth Plus Reports
Newark, New Castle, USA, May 03, 2023 (GLOBE NEWSWIRE) — According to Growth Plus Reports analysis, the global microbial fermentation technology market was valued at US$ 28.5 billion and is expected to register a revenue CAGR of 6.5% to reach US$ 82.3 billion by 2031.
The global market for microbial fermentation technology was analyzed and is expected to rise significantly during the forecast period. Microorganisms are used in a cutting-edge science termed “microbial fermentation technology” to produce valuable compounds to perform fermentation.
Recent Development in the Global Microbial Fermentation Technology Market:
- In April 2020, Umitomo Chemicals committed a sizeable 30 million dollars to collaborate with the biotechnology company CONAGEN in the US. The objective of this investment is to develop cutting-edge, highly useful products that utilize biological microorganisms to their fullest potential.
- The rising demand and benefits of fermented products drive market revenue share.
- Increasing microbiological and biotechnical R&D activities are propelling market revenue growth.
- Increased demand for biofuels, food preservatives, and enzymes is boosting the market revenue share.
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Microbial Fermentation Technology Market Scope
|Market size value in 2021||US$ 28.5 billion|
|Revenue forecast in 2030||US$ 82.3 billion|
|Growth Rate||CAGR of 6.5% from 2022 to 2030|
|Base year for estimation||2021|
|Segments covered||By Product, End User and Region.|
|Regional scope||North America, Europe, Asia Pacific, and the Rest of the World (ROW)|
Market Drivers and Restraints:
The driving factor for the microbial fermentation technology market revenue is the rising demand for fermented products such as alcohols, amino acids, alkaloids, and enzymes. Furthermore, increasing demand for sustainable and eco-friendly production processes, rising demand for bio-based products, and advancements in genetic engineering and synthetic biology contribute to market revenue growth.
However, some regulatory restrictions and a lack of awareness among the population about fermented microbial technology in rural areas may limit market revenue growth.
Segmentation By Product
Based on product, the global microbial fermentation technology market is segmented into medical & antibiotics, industrial, alcohol and beverages, food, and feed products. Due to the rising number of novel antibiotics and microbial metabolite research, the medical & antibiotics segment accounts for the largest market revenue share.
Segmentation By End-User
Based on the end-user, the global microbial fermentation technology market is segmented into bio-pharmaceuticals industries, the food & feed industry, contract research organizations (CROs) and contract manufacturing organizations (CMOs), and academic research institutes. Due to skilled employees, CROs and CDMOs are increasingly becoming the top options for biotherapeutics manufacturers, and the hospital segment accounts for the largest revenue share.
Regional Growth Dynamics
Based on the region, the global microbial fermentation technology market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to biological research and product development, several contract development firms operating in the region, North America accounts for the most significant revenue share in the global market.
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A list of prominent players operating in the global market for microbial fermentation technology:
- Amyris, Inc.
- BioVectra Inc.
- Danone Uk
- F. Hoffmann-La Roche Ltd
- Koninklijke DSM NV
Growth Plus Reports analyzed the global market for microbial fermentation technology in-depth and analyzed the basic market characteristics, significant investment areas, regional growth analytics, revenue forecast, competitive market players, mergers, and acquisitions.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Years – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trend (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- GLOBAL MICROBIAL FERMENTATION TECHNOLOGY MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Medical & Antibiotics
- Alcohol and Beverages
- Food and Feed Products
- GLOBAL MICROBIAL FERMENTATION TECHNOLOGY MARKET – ANALYSIS & FORECAST, BY END USER
- Bio-Pharmaceuticals Industries
- Food & Feed Industry
- Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOS)
- Academic Research Institutes
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- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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