Research Nester’s recent market research analysis on “Microbial Fermentation Technology Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global microbial fermentation technology market in terms of market segmentation by application, end-user, type, and by region.
Growing Need for Antibiotics and Vaccines to Promote Global Market Share of Microbial Fermentation Technology
The global microbial fermentation technology market is estimated to grow majorly on account of the increasing demand for antibiotics and vaccines. For instance, over the last two decades, global antibiotic consumption has climbed by over 45%. This has significantly driven the demand for microbial fermentation technology as it is a viable manufacturing method for vaccines and antibiotics.
Some of the major growth factors and challenges that are associated with the growth of the global microbial fermentation technology market are:
Growth Drivers:
• Surge in Vaccination Drive Globally
• Rising Trend of CRISPR-Cas9 Technology
Challenges:
The exorbitant cost of Microbial Fermentation Technology, and the stringent regulations developed by the government of nations worldwide are some of the major factors anticipated to hamper the global market size of microbial fermentation technology. The cost of R&D for establishing a novel fermentation process is enormous as it necessitates expert labor and high-quality raw materials. Furthermore, the cost of establishing a fermentation factory can easily range from tens to hundreds of millions of dollars.
Request Report Sample@
https://www.researchnester.com/sample-request-5329
By type, the global microbial fermentation technology market is segmented into medical, industrial, alcohol beverages, and food and feed products. The alcohol beverages segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. The growth can be attributed to rising consumption of alcohol. For instance, per capita alcohol consumption is expected to rise over 7 liters in 2030. Moreover, societal influences, alcohol availability, traumatic occurrences, and high-stress levels among young adults have increased the overall consumption of alcohol across the globe. This has increased the demand for microbial fermentation technology as the alcohol is mostly produced through yeast fermentation which is a biotechnological process that converts carbohydrates like glucose, sucrose, and fructose into ethyl alcohol and carbon dioxide in the presence of yeast.
According to estimates, alcohol drinking causes more than 2 million premature deaths worldwide each year.
By region, the Europe microbial fermentation technology market is to generate the highest revenue by the end of 2036. This growth is anticipated by rising elderly population in the region. For instance, in 2022, more than 20% of EU population was 65 or older. Moreover, Europe has the highest proportion of elderly people as lately one in every five Europeans is now 65 or older, and by 2050, it will be over 25%. This may lead to higher demand for microbial fermentation technology in the region. The elderly population often look for functional foods to support their health which are produced using microbial fermentation technology.
Besides this, there is a rising demand for biologics across Europe is expected to drive the demand for microbial fermentation technology For instance, at list pricing, biologics account for more than 30% of European pharmaceutical spending. Microbial fermentation is a viable manufacturing method for producing microbiologicals, which are significant in biotechnology and for the commercialization of biologics. Additionally, there is an increasing production of biopharmaceuticals in the region as pharmaceutical production investments have increased at an annual average pace of more than 10% every year. This has increased the outsourcing of manufacturing organizations to contract manufacturing organizations (CMOs) to make use of the CMO's pilot-to-commercial microbial fermentation capabilities.
Furthermore, the market in North America is anticipated to hold the second largest, during the forecast timeframe. The growth can be attributed to the growing usage of CRISPR- cas9 technology in the region. CRISPR is a relatively recent and precise gene editing technique that has been used to increase plant quality and productivity. This has increased the demand for microbial fermentation technology as it can accommodate specialized microbial strains that can be used in various industries including pharmaceuticals and biotechnology.
This report also provides the existing competitive scenario of some of the key players of the global microbial fermentation technology market which includes company profiling of BioVectra Inc., Danone UK, F. Hoffmann-La Roche AG, Koninklijke DSM NV, Lonza, Novozymes A/S, TerraVia Holdings, Inc., BIOZEEN, and others.
Access our detailed report at:
https://www.researchnester.com/reports/microbial-fermentation-technology-market/5329