Microbial Fermentation Technology Market Size, Share Production & Consumption Analysis With Forecast

Aniket Patil05 May, 2023Health

The global microbial fermentation technology market is expected to reach a value of US$ 32,729.05 million in 2023. The market is projected to grow at a CAGR of 5.7% and exceeds US$ 56,974.87 million by 2033. The microbial fermentation technology industry has been experiencing significant growth in recent years, with a growing demand for biopharmaceutical products and the increasing adoption of microbial fermentation technology in the food and beverage industry. The key drivers of this industry include the rising demand for antibiotics, vaccines, and enzymes, as well as the growing trend toward the production of biologics and biosimilars.