The global precision fermentation market size was valued at $1.3 billion in 2021 and is estimated to reach $34.9 billion by 2031, growing at a CAGR of 40.5% from 2022 to 2031, according to Valuates Reports.Also known as microbial fermentation, this tech uses genetically modified microbes (bacteria, yeast, algae, or fungi) to produce specific proteins, enzymes, and other compounds, including casein, whey, ovalbumin, fat, colors, or flavors. Its worth noting that the proteins, fats or ingredients (end-products) made using precision fermentation are not considered GMO.

Source: Making Food with Microbes: Precision Fermentation Market to Reach $34.9 billion by 2031