What are the Historical Developments and Current Growth Metrics of the Microbial Fermentation Technology Market?
The microbial fermentation technology market has seen considerable growth due to a variety of factors.
• The microbial fermentation technology market has experienced strong growth in recent years. It will grow from $37.46 billion in 2024 to $40.88 billion in 2025, at a CAGR of 9.1%.
The growth is driven by the demand for rapid and accurate microbial identification methods, the expansion of the pharmaceutical industry, the rising preference for automation and sterility testing, the demand for consumer products, and global population growth.
What Does Future Hold for The Microbial Fermentation Technology Market By 2029?
The microbial fermentation technology market is expected to maintain its strong growth trajectory in upcoming years.
• The microbial fermentation technology market is projected to reach $57.14 billion by 2029, with a CAGR of 8.7%.
The growth is attributed to rising demand for alcoholic beverages, fermented food popularity, CRISPR-9 technology use, biosimilar production, and alternative fuel demand. Trends include synthetic biology adoption, bio-processing advancements, novel microbial strain development, and innovations in fermentation and diagnostic technologies.
What Are The Primary Growth Drivers In The Microbial Fermentation Technology Market?
The increasing demand for alcoholic beverages is expected to spur the growth of the microbial fermentation technology market. The rising consumption of alcoholic beverages, especially healthier options like low-calorie or organic drinks, is driving the need for microbial fermentation technology. This technology offers precise control and scalability in the fermentation process. According to Statistics Canada, retail sales of alcoholic beverages reached $26.1 billion in the fiscal year ending March 2022, reflecting a rise in consumer demand for fermented drinks.
What Is The Segmentation Of The Global Microbial Fermentation Technology Market?
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
Subsegments:
1) By Medical: Antibiotics Production, Therapeutic Proteins Production, Vaccines Production
2) By Industrial: Biofuels Production, Biochemicals Production, Polymers Production
3) By Alcohol Beverages: Beer Production, Wine Production, Spirits Production
4) By Food And Feed Products: Probiotics, Food Additives, Animal Feed Production
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How Are New Trends Impacting The Size Of The Microbial Fermentation Technology Market?
Key players in the microbial fermentation technology market are actively forming strategic alliances to bolster their research and development abilities, broaden their product range, and fast-track the market entry of pioneering fermentation-related products. These partnerships often seek to capitalize on each other's strengths, penetrate new markets, and maximize efficiency, thereby fueling growth and competitiveness in the dynamic realm of microbial fermentation technology. For instance, in November 2022, Planetary, a biotechnology firm based in Switzerland, inked a Memorandum of Understanding with Konica Minolta, a tech company from Japan, to bring forth AI and data-centric technologies aimed at enhancing the control of fermentation processes. This alliance is envisaged to concentrate on developing solutions powered by data that can scrutinize bioprocess information to fine-tune fermentation procedures, thereby curtailing the likelihood of losing production batches and enhancing overall productivity.
Who Are the Key Players In The Microbial Fermentation Technology Market?
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
What Are The Regional Insights Into The Microbial Fermentation Technology Market?
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.
