The Latin America, Middle East and Africa Precision Fermentation Ingredients Market would witness market growth of 46.9% CAGR during the forecast period (2023-2030).
The demand for precision fermentation has garnered considerable interest, predominantly due to its potential to address numerous sustainability and health issues. Precision fermentation ingredients, for instance, can help reduce the environmental impact of conventional agriculture by producing food and beverages without requiring large quantities of water, land, and other resources. In addition, these ingredients can be used to produce plant-based proteins that are more sustainable and healthier than proteins derived from animals.
In addition, it is anticipated that the market will expand significantly, driven by the rising demand for sustainable and healthy foods. In addition to being a significant growth driver, the market is anticipated to be a leader in developing new products that cater to diverse consumer preferences. Several entrepreneurs, for instance, use precision fermentation to produce meat alternatives, such as lab-grown meat, that have a smaller environmental impact than conventional meat products.
According to the International Trade Administration (ITA), Saudi Arabia contributes to roughly 60 percent of the purchases of pharmaceutical products in the GCC. Its pharmaceutical industry is expected to increase by 5.5% annually and reach $10.7 billion by 2023. Under Vision 2030, Saudi Arabia prioritizes local production, the transfer of technology, the conduct of clinical research locally, and the training of the Saudi labor force, implying that the government prefers that companies invest in Saudi Arabia instead of exporting to it. As they maintain energy efficiency, product quality, and operational safety, the market is expected to grow in parallel with the expanding pharmaceutical sector in this region.
The Brazil market dominated the LAMEA Precision Fermentation Ingredients Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $546.3 million by 2030. The Argentina market is showcasing a CAGR of 47.7% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 46.5% during (2023 - 2030).
Based on Ingredients, the market is segmented into Egg White, Collagen Protein, Whey & Casein Protein, Heme Protein, Enzymes, and Others. Based on Microbe, the market is segmented into Yeast, Fungi, Bacteria, and Algae. Based on End Use, the market is segmented into Food & Beverages (Dairy Alternatives, Meat & Seafood, Egg Alternatives, and Others), Pharmaceutical, and Cosmetics & Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Precision Fermentation Ingredients Market is Projected to reach USD 35.1 Billion by 2030, at a CAGR of 43.9%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Geltor, Inc., Motif FoodWorks, Inc., Shiru, Inc., Impossible Foods Inc., Perfect Day, Inc., The Every Company, Imagindairy Ltd., New Culture Inc., Eden Brew Pty Ltd and Helaina Inc.
By Ingredients
By Microbe
By End Use
By Country
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