The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

The microbial fermentation technology market has experienced significant growth recently. In 2023, the market size was valued at $34.56 billion and is projected to reach $37.46 billion by 2024, reflecting a compound annual growth rate (CAGR) of 8.4%. This robust growth can be attributed to several factors, including increased demand for rapid microbial identification, expansion in the pharmaceutical industry, and growing automation and sterility testing needs.

• 2023 Market Size: $34.56 billion
• 2024 Market Size: $37.46 billion
• CAGR (2023-2024): 8.4%

Forecasted Growth and Key Drivers

Looking ahead, the microbial fermentation technology market is expected to expand further, reaching $52.59 billion by 2028 at a CAGR of 8.8%. This future growth is driven by several emerging trends and demands:

• Rising Demand for Alcoholic Beverages: As lifestyles change, there is an increasing preference for healthier alcoholic options, such as low-calorie and organic beverages.
• Fermented Foods and Biosimilars: Growing production of biosimilars and fermented foods contributes to the market’s expansion.
• Technological Innovations: Advances in synthetic biology, bio-processing, and novel microbial strains are pivotal.
• 2028 Market Size: $52.59 billion
• CAGR (2024-2028): 8.8%

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The Role of Alcoholic Beverages

The demand for alcoholic beverages significantly impacts the microbial fermentation technology market. Alcoholic beverages are produced through fermentation, which requires precise control and customization provided by fermentation technology. As consumers shift towards healthier and innovative alcoholic options, the technology’s role becomes more crucial. For example, in the fiscal year ending March 2022, Canada saw $26.1 billion in alcoholic beverage sales, indicating a steady increase in demand.

Strategic Partnerships Fuel Innovation

To drive innovation and efficiency, major players in the microbial fermentation technology market are forming strategic partnerships. These collaborations aim to enhance R&D capabilities, expand product portfolios, and optimize fermentation processes. Notable examples include:

• Planetary and Konica Minolta Partnership: Announced in November 2022, this partnership focuses on AI and data-driven technologies to optimize fermentation processes and improve production efficiency.

Lesaffre’s Acquisition of Recombia Biosciences

In September 2022, Lesaffre acquired Recombia Biosciences to advance yeast development and microbial fermentation innovation. Recombia Biosciences’ expertise in high-throughput genome editing and synthetic biology is expected to enhance Lesaffre’s capabilities in sustainable product development.

Market Segmentation

The microbial fermentation technology market is segmented as follows:

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 Organizations (CMOs) and Contract Development and Manufacturing Organizations (CDMOs)
   • Academic and Research Institutes

Regional Insights

Asia-Pacific emerged as the largest region in the microbial fermentation technology market in 2023, reflecting its strong industrial base and growing demand for fermentation technology.

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The Microbial Fermentation Technology Global Market Report 2024  provides an overview of the microbial fermentation technology market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The microbial fermentation technology market forecast analyzes microbial fermentation technology market size, microbial fermentation technology market share, leading competitor and their market positions.

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