Microbial Fermentation Technology Market Size

Microbial Fermentation Technology Market size is poised to reach USD 63 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of microbial fermentation technology was USD 33 Billion. The reason behind the growth is due to the rising need for vaccines. Microbial fermentation is a potent, adaptable microbiology method used to generate microbial cells or biomass such as proteins and enzymes for vaccine synthesis, and is also considered crucial in the production of mRNA vaccines. Moreover, it is the most prevalent process of vaccine manufacture followed by purification, which takes about 3 weeks. According to the World Health Organization (WHO), in 2021, over 16 billion vaccination shots costing USD 141 billion were distributed across the globe.

The growing need for microbial contract manufacturing services is believed to fuel the market growth. It has led to the development of a wide range of microbial products, microbial biomass, and enzymes, and has enabled many sorts of bulk manufacturing based on microbial fermentation.  Besides this, it has led to advancements in bioprocessing which would make the fermentation process more efficient and reliable in the coming years.