Microbial Fermentation Technology Market Size, Share, Industry 2030

Industry Prospective:

The Microbial Fermentation Technology Market was worth around USD 2,151.8 million in 2021 and is estimated to grow to about USD 3,017.9 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.8 percent over the forecast period. The report analyzes the Microbial Fermentation Technology Market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Microbial Fermentation Technology Market.

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Microbial Fermentation Technology Market: Overview

Microbial fermentation is secondary metabolites that microorganisms such as fungus and actinomycetes make. Under particular growth conditions, microorganisms are capable of converting inexpensive carbon sources (starch, glucose, sucrose, etc.) and nitrogen sources (soybean flour, cotton-seed flour, peptone, etc.) into extremely valuable APIs or critical intermediates (such as amino acids, vitamins, antibiotics) (nutrients, temperature, PH, oxygen supply). Depleting fossil fuel reserves and rising gasoline prices have created a demand in the chemical sector for diverse products such as amino acids, alcohols, enzymes, alkaloids, and so on, which may be made using microbial fermentation technology. These factors are expected to promote market growth throughout the estimated period. Rising consumer awareness of new goods, as well as technological advancements in fermentation technology as a result of research, are projected to drive market expansion.

In the coming years, more output and lower prices can help drive market expansion. Moreover, growth in urbanization and higher per capita expenditure on luxury food and beverage goods in developing countries such as the Asia Pacific and Latin America are also expected to drive market expansion.

Covid-19 Impact:

In the pandemic period, most sectors throughout the world have been severely hit. This is owing to significant interruptions in their respective production and supply-chain activities caused by multiple precautionary lockdowns and other restrictions imposed by governing bodies throughout the world. The same is true for the global market for Microbial Fermentation Technology.

Furthermore, consumer demand has subsequently fallen as individuals are now more focused on reducing non-essential spending from their separate budgets, since the overall economic state of the majority of people has been adversely affected by this epidemic. These factors are projected to weigh on the revenue trajectory of the worldwide Microbial Fermentation Technology market throughout the forecast period. However, as individual governmental bodies begin to relax these imposed restrictions, the global Microbial Fermentation Technology market is likely to recover.

Microbial Fermentation Technology Market: Driver

Fermentation technology has been a popular biological process in a variety of industrial applications for many decades due to its low cost, high specificity, ease of response, and versatility. While microbial fermentation has historically been employed mainly for food preservation, it has experienced a significant increase in application in recent years due to promising results and the prospect of developing new bioprocesses and products with its assistance. Modern industry has extended applications to generate a wide range of biotechnology products, including biofuels, biochemicals, biopharmaceuticals, biosimilar, and biomolecules, by combining the basic idea of fermentation technology with developments in genetic engineering.

Furthermore, rising gasoline prices and dwindling fossil fuel reserves have broadened the applicability of the microbial fermentation process in the chemical sector, producing products such as alcohols, enzymes, organic acids, amino acids, vitamins, alkaloids, and Xanthan. Rising global demand for these goods is expected to play a significant effect in assisting the global microbial fermentation market to expand at a promising rate in the coming years.

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Microbial Fermentation Technology Market: Restraint

Microbial fermentation is a slow inefficient process that is anticipated to produce a significant barrier in terms of fulfilling the demand cycle. In addition, the cost associated with the storage of the product and the process of fertilization is quite high. Moreover, some of the end products of Microbial fermentation are toxic to nature such as ethanol which is very toxic to plants.

Microbial Fermentation Technology Market: Segmentation

The Microbial Fermentation Technology Market is segregated based on Product, and End User.

By Product, the market is classified into Medical, Industrial, Alcohol Beverages, Food, and Feed Products. The alcohol beverages product segment is expected to dominate the global microbial fermentation technology market in the forecast period because of the rising popularity of alcoholic beverages among teenagers and youngsters, the growing urban populace, technological improvements, the segment's continual product introduction, and the growing number of lounges and bars. The desire among consumers to try new flavors is expected to drive demand for flavored alcoholic beverages over the forecast period. The continuous introduction of new flavors of alcoholic beverages in order to attract consumers and enhance sales over time is also expected to fuel demand for microbial fermentation.

By End User, the market is classified into Bio-Pharmaceutical industries, Food and Feed industries, Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs), Academic Research Institutes, and Others. The chemical industries, alcohol breweries, and wineries owned the largest share of the market. The rising global demand for alcohol is the primary driver of the segment's growth over the predicted period. Individuals all over the world are becoming more drawn to clubs and bars, which are growing trade sales of alcoholic beverages. The term "on trade sales" refers to the sale of alcoholic beverages through establishments such as hotels, restaurants, pubs, and bars.

Microbial Fermentation Technology Report Scope:

Regional Landscape

During the projection period, Asia-Pacific will be the major market in the global microbial fermentation technology market. China, India, and other emerging markets are likely to rise the most. The massive increase in the geriatric population, China's highly developed chemical industry, cutting-edge research in biotechnology and healthcare, rising disposable incomes, and changing lifestyles in developing countries all contribute to these countries' strong economic prospects. Furthermore, increased spending capacity, the high frequency of chronic diseases such as cancer and diabetes, and the resulting increase in demand for innovative medication candidates will drive regional market expansion in the near future.

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The North American market is expected to grow at a rapid pace during the forecast period. Individuals in these areas are more drawn to clubs and bars, resulting in increased sales of alcoholic beverages on the market. In the trade, sales related to the sale of alcoholic beverages through establishments such as hotels, restaurants, pubs, and bars. This factor is estimated to drive the regional market.

Competitive Landscape

Some of the main competitors dominating the Microbial Fermentation Technology Market include - Biocon, Danone Ltd., Lonza, United Breweries Ltd., Amyris, Novozymes, TerraVia Holdings, Inc., BioVecta, DSM, F. Hoffmann La-Roche Ltd.

The Microbial Fermentation Technology Market is segmented as follows:

By Product

• Medical
• Industrial
• Alcohol Beverages
• Food and Feed Product

By End-User

• Bio-Pharmaceutical industries
• Food and Feed Industry
• Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs)
• Academic Research Institutes
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa