Solar-Powered Microbes Market - A Global and Regional Analysis
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Solar-Powered Microbes Market: Overview
The use of solar-powered microbes in the food and feed industry is expected to grow significantly in the near future. The demand for solar-powered microbes from end-use industries, namely, wine, bakery, dairy, and probiotics, is increasing rapidly. Also, various government policies supporting solar energy-based industrial production of food in developing countries is a major factor boosting the market growth.
Market Lifecycle Stage
The adoption of solar-powered microbes in the food and feed industry are still in the developing phase. Increased research and development activities are underway to develop solar-powered microbes technology, which will increase the technology adoption by feed, food, and microbes producers.
Increasing investments in the research and development of solar-powered microbes is one of the major opportunities in the solar-powered microbes market. Moreover, solar-powered microbes are highly nutritious compared to conventional microbes.
Impact
- Globally, governments are more focused on renewable energy sources to minimize pollution and the cost structure of services and products. Solar energy is the most rapidly expanding and cost-effective source of electricity, especially in the U.S. Over three million photovoltaic (PV) installations have been established in the U.S., with one million being installed in 2019. With a decrease in the installation cost of solar energy systems, more industries are opting for green energy. This decrease in cost is due to various policies and schemes started by the government in the country, which will expect to drive the demand for the production of solar-powered microbes in the coming years.
- With an increased demand for nutritious food and feed, the shift to the eco-friendly production process expects to drive the solar-powered microbes market. This implies that solar-powered microbes can be a great alternative to conventional microbes. The transition may be more prominent in North America and Europe regions.
Impact of COVID-19
The outbreak of the COVID-19 pandemic delayed several solar panel installation projects. The government policies and schemes were also on hold due to significant restrictions. In 2020, the pandemic showed a downturn in solar investment and postponement and cancellations of major panel installations. However, the growth of nutritious food products increased due to the pandemic as end consumers started demanding healthy products to enhance their immunity strength. Thus, further boosting the demand for solar-powered microbes will increase in the near future.
Market Segmentation
by End-Use Industry (Food, Feed)
The solar-powered microbes market in the application segment is expected to be dominated by the food industry. This is due to solar-powered microbes being highly nutritious and their property to be customized and processed to derive various products.
by Type (Bacteria, Yeast, Molds)
The yeast solar-powered microbes segment is expected to dominate the product segment of the solar-powered microbes market. This dominance is due to the wide applications of yeast solar-powered microbes. Yeast is consumed in various end-use industries, including bakery and confectionery, dairy, fruits and vegetables, beverages, and meat.
by Region
- North America - U.S., Canada, and Mexico
- Europe - Germany, Italy, Spain, France, and Rest-of-Europe
- China
- U.K.
- Asia-Pacific and Japan - Japan, India, South Korea, Thailand, Australia and New Zealand, and Rest-of-Asia-Pacific and Japan
- South America – Brazil, Argentina, Chile
- Rest-of-the-World
Europe is an early adopter for the solar-powered microbes market due to increasing research and development advancements and supporting government regulations in the Europe region. Europe is an attractive region for the solar-powered microbes market because of consumer awareness for nutritious food.
Recent Developments in Solar-Powered Microbes Market
- In January 2020, Royal DSM unveiled its Artificial Intelligence (AI) laboratory to drive biotech innovation. The laboratory would be used for biotechnological processes and microbial strain development.
- In April 2021, Angel Yeast (Dehong), a subsidiary of Angel Yeast, proposed starting a green yeast extract production project with a capacity of 15,000 tons per year. The new project would supply yeast extracts and meet market demands in conjunction with the company's ""2025 strategy"" for the yeast industry.
- In July 2020, DuPont announced a microbiome research cooperation with Rutgers University's Center for Advanced Biotechnology and Medicine (CABM). This research cooperation would help the company boost its research activities in the microbe field.
- In April 2021, Angel Yeast announced the formation of a joint venture business to spend $15.4 million in the acquisition of Shandong Bio Sunkeen Co., Ltd's yeast-related assets. Through this acquisition, the companies want to improve their manufacturing capacities and solidify their strength in the yeast market.
Demand – Drivers and Limitations
Following are the demand drivers for the solar powered-microbes market:
- Government Initiatives Promoting Solar Energy
- High Efficiency of Solar-Powered Microbes
- Environmental-Friendly Production Technique at Industrial Scale
Following are the challenges that hinder the solar-powered microbes market growth:
- Lower Adoption Rate of Solar-Powered Microbes
- High Initial Cost of Setup
- Unorganized Microbes Market
How Can This Report Add Value
Product/Innovation Strategy: The product segment helps readers understand the different types of solar-powered microbes products available for deployment in the food and feed industries and their potential globally. Moreover, the study provides readers with a detailed understanding of different solar-powered microbes-based products by application (food and feed) and type (yeast, bacteria, molds).
Growth/Marketing Strategy: The solar-powered microbes market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been acquisitions and joint ventures to strengthen their position in the solar-powered microbes market.
Competitive Strategy: Key players in the microbes market analyzed and profiled in the study involve microbes manufacturers that provide microbes to the end-use industry. Moreover, a detailed competitive benchmarking of the players operating in the solar-powered microbes market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies profiled have been selected based on inputs gathered from primary experts and analyzing company’s market coverage, product portfolio, and market penetration.
Some prominent players in the solar-powered microbes market are:
- LB Bulgaricum
- E&O Laboratories Ltd
- DSM
- Associated British Foods plc
- Kerry Foods
- Kemin Industries Inc
- Lesaffre
- Angel Yeast Co., Ltd
- Lallemand Inc
- Wyeast Laboratories, Inc
- HiMedia Laboratories
- Dupont Nutrition & Biosciences
- Novozymes A/S
- Chr. Hansen Holding A/S
- Lactina Ltd.
Table of Contents
Companies Mentioned
- LB Bulgaricum
- E&O Laboratories Ltd
- DSM
- Associated British Foods plc
- Kerry Foods
- Kemin Industries Inc
- Lesaffre
- Angel Yeast Co., Ltd
- Lallemand Inc
- Wyeast Laboratories, Inc
- HiMedia Laboratories
- Dupont Nutrition & Biosciences
- Novozymes A/S
- Chr. Hansen Holding A/S
- Lactina Ltd.
