《谷孚：2023年度新蛋白產業現狀報告-替代蛋白質發酵行業分析報告（英文版）（88頁）.pdf》由會員分享，可在線閱讀，更多相關《谷孚：2023年度新蛋白產業現狀報告-替代蛋白質發酵行業分析報告（英文版）（88頁）.pdf（88頁珍藏版）》請在三個皮匠報告上搜索。

1、2023 State of the Industry ReportFermentation:Meat,seafood,eggs,and dairyTable of contentsEditors note.3Executive summary.7Commercial landscape.8Products.9Investments.9Science and technology.9Government and regulation.10Introduction.12Understanding fermentation.12Commercial landscape.15Company lands

2、cape.15Facilities.17Involvement from diversified companies.18Partnerships.20Product launches.22Industry associations.24Consumer insights.26Nomenclature and messaging appeal.26Consumer awareness and familiarity.27Consumer willingness to try.28Consumer research and demographic insights from around the

3、 world.30Investments.34Liquidity events.40Science and technology.42Ingredient trends and highlights.43Research across the technology stack.47Environmental and social impact.60Nutrition.61Scientific ecosystem.62Government and regulation.68Global public funding.68Regulation by country.71Global coopera

4、tion and coordination.73Outlook.762024 outlook.77Long-term outlook.78External projections.79Acknowledgements.872023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy2Editors noteFermentation is a nature-inspired technology withpowerful current-day applications.In 2023,accessto fe

5、rmentation-enabled alternative proteinsexpanded,with products from bacon to crab cakesand beyond launching at diverse venues from globalfast-casual restaurants to your local grocery store.Yet the year was not without its challenges.Fundingconstraints and difficulties with scaling posed two ofthe big

6、gest bottlenecks for fermentation.Consumereducation,understanding,and adoption are still inthe early stages.And the work to secure governmentand private investment continues.Despite theseheadwinds,the stark realities of our food systemremain:Global meat consumption is projected to risesignificantly

7、by 2050,and animal agriculture aloneaccounts for between 11 and 20 percent ofgreenhouse gas emissions.Taken together,theseprojections point to the urgent need for the kinds ofsolutions provided by alternative proteins.If the world is to achieve our climate,biodiversity,public health,and food securit

8、y goals,reimaginingthe way meat is made will be as essential as theglobal transition to renewable energy.Whencompared to conventional meat,alternative proteinsreduce emissions,feed more people with fewerresources,reduce pandemic andantibiotic-resistance risks,and free up lands andwaters around the w

9、orld for restoration andrecovery.GFIs annual State of the Industry reports equip foodsystem stakeholders with an in-depth understandingof the alternative protein market,with its challengesand opportunities.These reports also serve as aglobal call to action:Alternative proteins are agricultural innov

10、ations that,with proper levels of government and private support,will help ensure planetary and public health,transforming our global food system for the better.Fermentation is a powerful tool for tackling suchchallenges.At scale,alternative proteins made viafermentation could enable a shift toward

11、lessresource-intensive ways of producing protein.Butfirst,the industry must overcome hurdles such asincreasing manufacturing capacity and reaching costparity to satisfy the next generation of consumers,who are signaling enthusiasm for fermentation as asolution to eating protein made with fewer resou

12、rcesand less harm to the environment.This report details the innovations anddevelopments that moved the field offermentation-enabled alternative proteins forward in2023.But there is still much to be done.As anonprofit and international network of organizations,GFI is accelerating alternative protein

13、 innovation andbringing more people into the field.Policymakersand governments,scientists and students,industryleaders and global citizens can all ensure that thesector of nature-positive proteins continues toprogress,offering the world a far more sustainablefood future.With gratitude and deep respe

14、ct to all those on thisjourney,we invite you to dig deep into our 2023State of the Industry report.Best,Caroline BushnellSVP of Corporate EngagementLiz Specht,PhDSVP of Science and TechnologyJessica AlmySVP of Policy and GovernmentRelations2023 State of the Industry Report/Fermentation:meat,seafood,

15、eggs,and dairy3About GFIs State of the Industry Report seriesGFIs State of the Industry Report series serves as our annual alternative protein sector deep-dive.Theseries compiles business developments,key technologies,policy updates,and scientific breakthroughsfrom around the world that are advancin

16、g the entire field.This years reports include:Cultivated meat and seafoodPlant-based meat,seafood,eggs,and dairyFermentation:Meat,seafood,eggs,and dairyGlobal policy:Public support,regulation,and labelingThe Fermentation:Meat,seafood,eggs,and dairy report synthesizes 2023 updates across the globalfe

17、rmentation industry focused on animal-free alternatives to conventional proteins.This report focuses ondevelopments across the commercial,investment,policy,and scientific landscape related to the use offermentation in the production of alternative proteinsmeat,seafood,eggs,and dairy made viamicroorg

18、anisms.For a primer on the emerging role of microbial fermentation in building the nextgeneration of alternative proteins,please visit GFIs science of fermentation deep dive.Symbols to look forThroughout the 2023 State of the Industry Report series,look for symbols highlighting how developments in t

19、hepast year advanced the alternative protein sector in the areas of health and nutrition,sustainability,andpath-to-market progress.Dig deeper and Opportunity icons are calls to action for researchers,investors,andothers seeking to learn more and advance the field.HealthSustainabilityOpportunityPath-

20、to-marketDig deeperPlease note that The Good Food Institute is not a licensed investment or financial advisor,and nothing in this reportis intended or should be construed as investment advice.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy4About the Good Food InstituteAs a

21、 nonprofit think tank and international network of organizations powered by philanthropy,GFI works alongsidescientists,businesses,and policymakers to make alternative proteins as delicious,affordable,and accessible asconventional meat.In Asia Pacific,Brazil,Europe,India,Israel,and the United States,

22、our teams are mobilizingthe international community to use markets and technology to replace harmful practices with ones that are betterfor the climate and biodiversity,for food security,and for global health.We focus on three programmatic priorities:1.Cultivating a strong scientific ecosystemGFIs s

23、cience and technology teams map out the most neglected areas that will allow alternative proteinsto compete on taste and price.We produce open-access analyses and resources,educate and connect thenext generation of scientists and entrepreneurs,and fund research that benefits alternative proteindevel

24、opment across the sector.2.Influencing policy and securing government investmentGFIs policy teams ensure that alternative proteins are a part of the policy discussion around climate changmitigation and global health.In every region where we have a presence,we advocate for governmentinvestment in alt

25、ernative proteins and educate regulators on novel proteins such as cultivated meat.3.Supporting industry to advance alternative proteinsGFIs corporate teams are replicating past market transformations and partnering with companies andinvestors across the globe to drive investment,accelerate innovati

26、on,and scale the supply chainall fasterthan market forces alone would allow.Stay connectedNewsletters|GFIs suite of expertly curated newsletters puts timely news,insights,and opportunities rightin your inbox.Check out gfi.org/newsletters to find the ones most suitable for your interests.Monthly semi

27、nar series|Each month,we host online seminars with leading experts from around the world:The Business of Alt Protein series is geared toward a commercially focused audience on topics related tostarting and scaling a good food business.The Science of Alt Protein series addresses a technical audiencea

28、nd focuses on cutting-edge research developments that enable alternative protein innovation.This State of the Industry Report series,as well as all of GFIs open-access insights and data,are made possible bygifts and grants from our global community of donors.If you are interested in learning more ab

29、out giving to GFI,please visit here or contact philanthropygfi.org.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy5Executive summaryExecutive summaryThe global fermentation industry continued toinnovate on animal-free alternatives to conventionalproteins in 2023.In 2023 al

30、one,the number of fermentationcompanies grew by 16 percent,seven newfermentation-focused facilities opened their doors,and funding milestones were reached in Europeand Africa.The year also delivered scientific advances,newproducts,more manufacturing facilities,and notablepartnerships.All this progre

31、ss brought the worldmore meat,seafood,eggs,and dairy made viamicroorganisms than any previous year.Whilechallenges in manufacturing capacity and reachingcost parity remain,this nature-inspired technology isprimed to transform the future of food.Table 1:Invested capital in fermentationCategory2023202

32、2All-time(since 2013)2023 highlightsTotal investedcapital$515MM$758MM$4.1B72%of fermentation investmentoccurred in the last three years alone.Invested capitaldeal count811184932023s largest investment was$75 MM(Air Protein).Unique investors205238693The number of all-time uniqueinvestors increased by

33、 22%.Growth stage deals(Series B and above)7331These included Meati,Enough,Prime Roots,and Solar Foods.Liquidity events$1MM$504MM$2.1BSuperlatus acquired the UrgentCompany,Perfect Daysconsumer-facing subsidiary.Source:GFI analysis of data obtained from Net Zero Insights platform2023 State of the Ind

34、ustry Report/Fermentation:meat,seafood,eggs,and dairy7Figure 2:Timeline of key fermentation updates in 2023Commercial landscapeNew industry associationsIn early 2023,nine precision fermentationcompanies cofounded the Precision FermentationAlliance,which will focus on regulatory engagementand consume

35、r messaging.Food FermentationEurope,working to address several issues,includinglabeling and nomenclature for animal-free proteins,also formed in 2023.Known companiesThe number of companies focused on fermentationfor alternative proteins rose to 158,an increase of16 percent over the number of known c

36、ompanies in2022,according to GFIs alternative proteincompany database.New fermentation facilitiesSeven new fermentation facilities opened globally in2023,and several more were announced or beganconstruction.Notable examples include MeatiFoods facility in Colorado and Liberation Labsfacility in India

37、na.Partnerships and capacity buildingIn 2023,19 new partnerships focused on endproducts and bioprocess scaling were formed,adding to the 21 partnerships established in 2022.For example,Alpha Foods partnered with TheEVERY Company to develop hybrid plant-based andprecision-fermentation-derived product

38、s.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy8ProductsIn 2023,companies applied fermentationtechnology to develop end products and ingredientsto enhance plant-based products across categories:Significant expansion in dairySeveral companies utilized fermentation to laun

39、chanimal-free cheese products including Bel BrandsUSA launching The Laughing Cow Plant Based andNurishh Incredible Dairy Animal Free Cream Cheese.Natures Fynd also launched a fungi-based yogurtproduct made from their Fy protein.EggsAn egg white replacer made from upcycled spentbrewers yeast was intr

40、oduced from Netherlands-basedrevyve.It can be used as a binder in plant-based meatsand adds an umami flavor.The EVERY Company alsolaunched The EVERY Egg,a liquid egg product madewith precision fermentation-derived proteins andplant-based ingredients.MeatNew fermentation-enabled meat products,includi

41、nga microalgae-based meat line from Umani and amushroom-based bacon product from Libre Foods,launched in 2023.InvestmentsAccording to GFIs analysis of data obtained fromthe Net Zero Insights platform,fermentationcompanies raised$514.7 million in 2023,ayear-over-year deceleration mirroring similar tr

42、endsacross markets amid challenging macroeconomicand other global factors.Still,there was some brightinvestment news in 2023:funding grew in Europe,totaling$179.4 million,a 22 percent increase from2022(and the highest annual total for the region todate).Additionally,the number of unique investors in

43、fermentation globally grew by 22 percent to 693unique investors.Science and technologyResearch and developmentThe EVERY Co.unveiled the worlds firstprecision fermentation liquid egg product inDecember 2023 on the heels of patentprotection on recombinant protein purificationstrategies and precision f

44、ermentation-derivedrecombinant ovomucoid.Biotech company Melt&Marble was awardedseveral patents for strain improvements toincrease fatty acid and protein production in fungi.Mycorena AB was granted two patents inSweden for a dairy replacement and dry foodproduct formulation containing their fungalbi

45、omass ingredient.Mycorena has developed apatent-pending method for a printable foodproduct comprising their fungal biomassingredient.Koralo Foods,an alternative seafood startup,received a patent for their novel alternativeseafood product produced through theco-cultivation of fungal mycelium and micr

46、oalgaethat imparts the taste and texture of seafoodwhile also providing the nutritional benefits ofboth the fungal protein and microalgaeomega-3-fatty acids in a single process.Environmental and social impactThe startup Essential Impact has beguncommercializing a fermentation-derivedlow-cost,high-qu

47、ality protein source for low-and middle-income countries.Kings College London modeled the opportunityfor feedstocks from agricultural leftovers,forestry residues,and other reliable starchstreams and identified almost 4,000megatonnes of glucose and xylose sugarspotentially available as feedstocks for

48、 thebiomanufacture of food via fermentation.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy9Gas fermentation,where microorganisms convertgreenhouse gas feedstocks into microbialprotein-rich biomass,has received attention as aviable production pathway for food even in theab

49、sence of agricultural feedstocks like sugars andstarches.Synonym Bio was awarded OpenPhilanthropy funding to explore gas fermentationprocesses for food production to help understandthe current and future techno-economics of gasfermentation approaches.Government and regulationInvestments and fundingT

50、he White House released“Bold Goals for U.S.Biotechnology and Biomanufacturing,”whichproposed supportive policies for the domesticbiotechnology sector and called for moreresearch on alternative proteins,public-privatepartnerships,and an ecosystem ofagriculture-focused biomanufacturing facilities.The

51、White House released a Building theBioworkforce of the Future report that namedprecision fermentation explicitly as a growingsector in the American bioeconomy that willbenefit from government investment.In the United States,precision fermentationstartup Liberation Labs received a$25 millionloan guar

52、antee from USDA to accelerate theconstruction of a facility in Indiana.GFI estimates total Defense AdvancedResearch Projects Agency(DARPA)funding forfermentation at around$40 million over fouryearsnearly matching the United Statesall-time investment in alternative proteinsbefore 2023.The government

53、of South Africa allocated whatmay be the first public investment in precisionfermentation on the continent,with a grant ofZAR 11 million($700,000)to South Africanstartup De Novo FoodLabs.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy10IntroductionIntroductionSeveral forms

54、 of fermentation are being harnessedfor alternative protein solutions.Fermentation,in the alternative protein industry,refers to utilizing microbial organisms for food.Hereis an overview of how alternative protein companiesuse fermentation in three primary ways.Understanding fermentationTraditional

55、fermentation has been used forthousands of years to produce familiar productssuch as bread and beer.It uses intact,livemicroorganisms to modulate and processplant-derived ingredients,resulting in products withunique flavors,nutritional profiles,and textures.Examples include using the fungus Rhizopus

56、 toferment soybeans into tempeh and using variouslactic acid bacteria to produce cheese and yogurt.Traditional fermentation can improve the sensory,functional,and nutritional attributes of manyalternative protein ingredients.Since traditional fermentation is widely used acrossthe conventional and al

57、ternative protein sectors,companies that effectively tailor the fermentationprocess to their unique ingredients and end productsare most likely to differentiate themselves in thealternative protein space.Companies like ChunkFoods and Planetarians use traditional fermentationor its byproducts to crea

58、te unique,whole-cutplant-based meat products.Differences inproprietary fermentation processes can affect boththeir cost and scalability.Biomass fermentation leverages the high-proteincontent and fast growth of microorganisms toproduce large quantities of protein efficiently.Biomass fermentation offe

59、rs the greatestopportunity to produce protein at scale owing to theability of many microorganisms to grow quickly,oftendoubling their weight in just a few hours.Themicrobial biomass itself can serve as an ingredient,with the cells intact or minimally processed.Microbial biomass can be the main ingre

60、dient of afood product or serve as one of several ingredients ina blend.A range of microorganisms is being exploredfor their applications in biomass fermentation,fromyeast to filamentous fungi to microalgae.Anincreasing number of biomass companies arefocusing on microalgae that are grown with sugar,

61、aprocess known as heterotrophic growth,instead ofsunlight.Heterotrophic growth of algae is typicallyfaster and leverages standard bioreactors ascompared to phototrophic growth where a lightsource or sunlight is required.Biomass fermentation has been used at scale sincethe 1980s by companies like Quo

62、rn,and others inthe space,like Meati,have also achieved nationaland international product distribution.Variations inprocesses,feedstocks,and target microorganismsserve as the primary differentiators acrosscompanies and can impact the affordability andscalability of a given end product.Precision ferm

63、entation is a form of specializedbrewing that uses microbes as“cell factories”forproducing specific functional ingredients.Capable ofproducing proteins,vitamins,enzymes,naturalpigments,and fats,precision fermentation iswell-positioned to create high-value ingredients thatimprove the sensory characte

64、ristics and functionalattributes of plant-based products or cultivatedmeat.It can be used to make products like eggproteins,dairy proteins,pepsin,animal-free meatproteins including heme,and fats.Proteins likemyoglobin give meat its signature taste and aroma,and incorporating these proteins into plan

65、t-basedfoods can impact sensory experience to more closelyresemble conventional products.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy12Precision fermentation has been used in foodproduction since the 1990s when chymosin,themajor enzyme in rennet(a cheese coagulant),wasf

66、irst created via precision fermentation.A handful ofkey alternative protein ingredients derived fromprecision fermentation,such as Perfect Days wheyprotein and Impossible Foods soy leghemoglobin,are also widely distributed.That said,the ingredientof interestwhether its chymosin,leghemoglobin,whey,ca

67、sein,or palm oilcan significantly affect thecomplexity of the production process,making theproduct development and scale-up stages especiallyingredient-dependent.Figure 3:Comparative diversity of animal,plant,and microbial speciesMicrobial diversity offers countless possibilities for fermentation-de

68、rived food products.Source:(Mora et.al,2011)(World Flora Online,2024)(Locey&Lennon,2016)2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy13CommerciallandscapeCommercial landscapeOverviewIn 2023,fermentation-enabled alternative proteinscontinued to advance as viable solutions

69、 to meet thedemand for sustainable food sources.The year saw pivotal developments,including theopening of at least seven new fermentation facilities,the debut of several new products and companies,and continued commitment to the sector from largemeat and consumer packaged goods(CPG)companiesall of w

70、hich signaled the industrysresilience and potential for long-term growth.The number of publicly announced companiesfocusing primarily on fermentation inputs orend products for alternative proteins rose to158 in 2023.Seven new fermentation facilities opened in 2023,and several more were announced or

71、beganconstruction.Notable examples in the UnitedStates include Meati Foods 100,000-square-footcommercial facility in Thornton,Colorado,andLiberation Labs 600,000-liter facility that brokeground in Indiana.Large food companies continued theirinvolvement in the fermentation industry.Globaldairy compan

72、ies like FrieslandCampina andDanone increased their involvement in precisionfermentation,and Thai Union,one of the worldslargest seafood companies,invested inmicroalgae-based ingredients.Company landscapeIn 2023,GFIs company database identified 158companies focused primarily on fermentation foralter

73、native proteins,increasing from 153 in 2022.Additionally,at least 123 diversified companies todate have joined the industry through investments,partnerships,or business-to-business(B2B)product/service offerings.These figures likely do not fully capture the actualcount of companies involved in the fe

74、rmentationspace,as several startups may still be in stealthmode.Additionally,while GFIs company database isintended to be as comprehensive as possible,it isnot exhaustive.Do you know of an alternative proteincompany thats not on our list?Request to add it here.Likewise,if yousee a company in our dat

75、abase thathas been acquired,closed,orrebranded,please let us know byrequesting an update.While the majority of fermentation companiesremain focused on end-product formulation andmanufacturing,there has been an uptick in activity inother areas of the fermentation value chain,likeingredient optimizati

76、on and bioprocess design.We expect to see more companies specialize in stagesof the technology stack as the industry matures.Figure 4:Number of companies by technology focusSource:GFI company database.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy15Figure 5:New and total

77、publicly announced companies by year foundedSource:GFI company database.Figure 6:Distribution of companies by country and regionSource:GFI company database.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy16FacilitiesThe market for fermentation-enabled alternativeprotein pro

78、ducts has expanded in recent years,andgrowth means that more and larger fermentationfacilities are essential.But,as GFI and Integration Consultings 2023fermentation manufacturing capacity analysis reveals,most existing fermentation facilities in thepharmaceutical,industrial enzyme,fuel,and beveragei

79、ndustries are ill-suited for alternative proteinproduction.This creates a barrier to growth for thefermentation-enabled alternative protein industry.While manufacturing capacity remains a challenge forsome companies in the fermentation industry,2023brought several encouraging developments.Facilities

80、 that opened in 2023Meati Foods,which creates products madeprimarily from mushroom root,opened their100,000-square-foot Mega Ranch facility inThornton,Colorado,in January.The facility iscapable of producing 45 million pounds ofproduct per yearenough to supply more than7,000 retailers and restaurants

81、.Motif FoodWorks opened their second facility,a market development and research center inNorthborough,Massachusetts.The company,which makes plant-based meat and alternativeprotein ingredients,announced they would addfermentation and bioprocessing services to itsbusiness.Swedish fungi-based food comp

82、anyMycorena announced it scaled their foodscience development facility to featureincreased fermentation equipment and a fullproduction kitchen.Chunk Foods,which uses fermentation to createwhole-cut plant-based meat products,opened anew facility in Israel that can manufacturemillions of steaks each y

83、ear.Austrian startup Arkeon Biotechnologies,whichuses fermentation to produce protein fromcarbon dioxide,successfully opened a new pilotproduction plant in Vienna.German biomass fermentation companyMicroHarvest opened a pilot facility in Lisbon,Portugal.The facility can produce 25 kilogramsof the co

84、mpanys single-cell proteins per day.Nosh Biofoods,a biomass fermentationcompany based in Germany,opened a pilotfacility inside Berliner Berg,a brewery in Berlin.Facilities that broke ground in 2023Aqua Cultured Foods,a Chicago-basedfermentation-enabled alternative seafoodproducer,began construction

85、on a newmanufacturing facility.The facility is located inChicago and will be nearly three times largerthan the companys current base.Precision fermentation company Liberation Labsbroke ground on their first commercial-scalefacility in Richmond,Indiana.In November 2023,they secured a$25 million gover

86、nment-backedloana strong example of the U.S.federalgovernment leaning into building a thrivingbioeconomy.The plant will have a capacity of600,000 liters to supply to CPG companies andother industrial manufacturers.Commercialproduction is expected by the end of 2024.Groundbreaking event at Liberation

87、 Labs commercial precisionfermentation facility in Richmond,Indiana.Photo credit:Liberation Labs2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy17Involvement fromdiversified companiesMany of the leading meat and food companiesaround the world are involved in the fermentatio

88、nindustry through investments,acquisitions,partnerships,and/or research,development,andmanufacturing.Involvement from existing meat and food producerscan serve as a force multiplier for the industry.Thesecompanies already have funding,infrastructure,anddistribution access.Multinational companies lik

89、eNestl,Kraft Heinz,Cargill,and Tyson are involved inthe fermentation industry.New activity fromdiversified companies in 2023 indicates a growingcommitment to the sector:JanuaryFrieslandCampina Ingredients,a branch of global dairy company FrieslandCampina,announced a strategic partnership with biotec

90、hnology firm Triplebar to develop andmanufacture precision fermentation-derived proteins for various applications.The venture capital fund of global seafood company Thai Union led a 13 million Series Afunding round for Paris-based microalgae producer Algama Foods.AprilDanone Manifesto Ventures,Danon

91、es corporate venture arm,took a minority stake in Israeliprecision fermentation startup Imagindairy.OctoberU.S.-based precision fermentation ingredient producer The EVERY Company and Colombiaslargest CPG food company,Grupo Nutresa,announced a joint development agreement to useEVERYs ingredients in N

92、utresas existing line of plant-based products.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy18Table 2:Diversified companies with involvement in alternative proteinsSource:GFI analysis of publicly reported industry news and eventsTable 3:Diversified companies with involvem

93、ent in fermentationSource:GFI analysis of publicly reported industry news and events2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy19PartnershipsCollaborations among research,production,anddistribution partners are crucial for accelerating themainstream adoption of ferment

94、ation-enabledproducts.The number of announced collaborations in 2023increased slightly from 2022.Partnership activity in2023 largely centered on end-product developmentand distribution,two critical components to themainstream adoption of fermentation-enabledproducts.Here are some of the publicly ann

95、ouncedpartnerships from 2023.Table 4:Partnerships tableProduct development partnershipsCompanies/organizationsDetailsAir Protein and ADMDeveloping products for commercializationAlpha Foods and The EVERY CompanyDeveloping hybrid plant-based andprecision-fermentation-derived productsFermify,CREMER,and

96、 InterfoodDeveloping animal-free cheesesFrieslandCampina and TriplebarDeveloping and manufacturingprecision-fermentation-derived proteinsMycorena,Nybergs Deli,and ICADeveloping blended meat and mycoprotein productsMycoTechnology and IFFDeveloping mycelium-based alternative proteinsNosh Biofoods and

97、Ginkgo BioworksCreating a mycoprotein ingredient to give alternativeproteins a more meat-like flavorPrime Roots and Fabrique DlicesDeveloping a line of fungi-based koji-pts andkoji-foie grasQL AG and Ginkgo BioworksCreating fermentation-derived dairy proteins withidentical nutritional profiles to co

98、nventional dairySimpliiGood and Haifa GroupCreating and scaling spirulina productsSolar Foods and Ajinomoto GroupUsing Solar Foods Solein product to create newproductsThe Better Meat Co.and Greenleaf Foods,SPC.Developing new products with Rhiza mycoproteinNelson-Jameson,Vaess,and Lallem andSpecialty

99、 CulturesProducing mycoprotein-based meat alternatives2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy20Scale-up partnershipsCompanies/organizationsDetailsCauldron and Boston BioprocessSupporting third-party companies scaling from lab toindustrial productionEGGcited and rev

100、yveScaling up revyves technology for extracting newingredients from spent brewers yeastFermbox Bio and BBGIEstablishing precision fermentation facilities inThailand and Southeast AsiaFermbox Bio and Dyadic InternationalDeveloping,manufacturing,and commercializinganimal-free proteinsGinkgo Bioworks a

101、nd ViviciAdvancing the production of animal-free dairyproteinsLiDestri Foods and Drinks and FermentumBuilding a commercial-scale precision fermentationfacilityDistribution partnershipsCompanies/organizationsDetailsMarlow Ingredients and Tempty FoodsIntroducing Tempty Foods products made withMarlows

102、mycoprotein ingredientsMycorena,RIP Foods,and Meeat Food TechLaunching joint products and expanding Mycorenasmarket reachPerfect Day and UnicoLaunching a protein powder made from milk protein,egg whites,and Perfect Days whey proteinQuorn and Prime RootsCreating market expansion opportunities andcoll

103、aborating on new product offeringsThe EVERY Company and Grupo NutresaUsing EVERYs ingredients in Nutresas existingplant-based productsEquipment partnershipsCompanies/organizationsDetailsEcovative and LimbracoDeveloping specialized farming equipment forEcovatives AirMycelium cropsQuorn and KarakuriCo

104、llaborating to ensure Karakuris equipment inquick-service and fast-casual kitchens is optimized toprepare Quorns products2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy21Product launchesFermentation-enabled products increased in varietyand availability in 2023.Consumers ar

105、e now morelikely than ever to find alternative proteins made withfermentation on retail shelves and restaurant menus.Fermentation for alternative protein productstypically means creating either:1)individualingredients that replicate the sensory properties ofmeat,seafood,dairy,or eggs(typically via p

106、recisionfermentation)or:2)the protein base for astandalone product,like mycelium-based products(typically via biomass fermentation).Exciting innovations across the plant-based meat,seafood,dairy,eggs,and ingredient categorieslaunched in 2023,positioning the category forlong-term growth.Meat and seaf

107、oodFebruarySpain-based Libre Foods unveiled a mushroom-based bacon product,which the companyclaims is the first of its kind to launch in the European Union.Israels Mush Foods introduced its mycelium protein ingredient solution,50CUT,which istailored for use in blended animal-and mycelium-based meat

108、products.MarchMycoprotein pioneer Quorn rolled out a mycoprotein-based chicken and leek family pie atSainsburys stores in the United Kingdom.Swiss upcycling startup brewbee,which creates food products from spent brewers yeast,began selling their plant-based meat and other food products in co-op reta

109、ilers throughoutSwitzerland.AprilQuorn released new mycoprotein-based chicken Katsu Fillets that are now available at Tesco,Morrisons,Waitrose,and Asda in the United Kingdom.MayCalifornia-based mushroom meat producer Shroomeats launched three new mushroom-basedproducts:meatballs,burgers,and ground b

110、eef.Each product contains only six ingredients.Colorado-based RollinGreens debuted a new shelf-stable chicken fajita product made with ablend of fermented shiitake mushrooms,pea protein,and rice.OctoberMeati Foods debuted new shelf-stable jerky products with a mycelium base in original,peppered,and

111、sweet chile flavors.NovemberMeati Foods launched four new mycelium-based meat products.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy22DairyJanuaryBel Brands USA launched The Laughing Cow Plant Based and Nurishh Incredible DairyAnimal Free Cream Cheese at Kroger and Whole

112、 Foods stores across the United States.TheNurishh Incredible Dairy Animal Free Cream Cheese was Bel Brands USAs first animal-freeproduct created in partnership with Perfect Day.MayShanghai-based Changing Bio debuted the companys first line of microbial-based dairyproducts,including whipped cream and

113、 grated parmesan.JuneSingaporean restaurant Fico was the first to serve gelato made from Finnish food techcompany Solar Foods fermentation-derived Solein protein.AugustPuretrue debuted an animal-free casein using a traditional yeast-based fermentation process.The company says that their casein ingre

114、dient undercuts the price of its conventionalcounterpart.DecemberNatures Fynd introduced a line of yogurts made with their fermentation-enabled Fy protein.EggsMarchNetherlands-based revyve introduced an egg white replacer made from upcycled spentbrewers yeast.The egg replacer can be used as a binder

115、 in plant-based meats and adds anumami flavor.DecemberThe EVERY Company launched the EVERY Egg,a liquid egg created with precisionfermentation-derived ovalbumin that can be used as a 1:1 replacement for conventional eggs.IngredientsMarchBostons Motif FoodWorks released a texture ingredient for plant

116、-based meat developed inpartnership with Rhizome Network.The ingredient recreates the texture of animal connectivetissue by using a combination of plant proteins and plant-based carbohydrates.Pet foodMarchPlant-and fungi-based pet food company Wild Earth unveiled new dog food products as partof the

117、companys new Core and Performance collections.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy23Industry associationsCollaboration is key to supporting market growth forfermentation-enabled products.Industryassociations and alliances can play important rolesin driving regul

118、atory transparency,conductingconsumer research,and aligning on nomenclature.In addition to the two groups formed in 2022(theFungi Protein Association and PrecisionFermentation Alliance),a new industry group calledFood Fermentation Europe was formed in 2023.Itaddresses issues including labeling andno

119、menclature for animal-free proteins,capacitychallenges in industrial-scale fermentation,andregulatory pathways for approving novel foods in theEuropean Union.Associations like these will be crucial to the successof the industry.For more information on industrycollaboration,check out this blog post a

120、nddatabase of alternative protein trade organizations.The Better Meat Co.s chickenbreast made with Rhiza mycoprotein.Photo credit:The Better Meat Co.Consumer insightsConsumer insightsIn 2023,dozens of innovative fermented alternativeproteins hit the market,from mushroom-basedbacon to microalgae-base

121、d crab cakes.Consumers are finding more fermentation-derivedproducts on grocery store shelves and traditionalfermented food categories like kimchi and kombuchaexperienced retail growth over recent years.Yetdespite these milestones,consumer awareness offermented foods remains low.Research published i

122、n 2023 points to emergingopportunities and challenges across thefermentation industry.Nomenclature andmessaging appealResearch on product nomenclature and terminologyfor and consumer perceptions offermentation-enabled products was released in2023.This research suggests a bright future forfermentatio

123、n-enabled proteins as consumers learnmore.It also reveals insights on how to introducethis category in an appealing and informative way.Category diversityStudies in the last few years have tested manyvariants of names and descriptions for product typesand technologies.While some research focuses ons

124、pecific terms or combinations,other research takesa comparative approach to learn what resonates withconsumers.Consumer educationTo clarify the benefits and tradeoffs of namingoptions,GFI and Accenture conducted research in2023 on nomenclature for precision-fermented dairyand eggs with consumers in

125、France,Germany,theUnited Kingdom,the United States,and Spain,testing dozens of naming variants in four languages(see figure 7).Among the options tested,modifiers translating as“animal-free”(Spanish:“sin origen animal,”French:“non-animal(e),”German:“tierfrei”)were mostappealing in most markets;consum

126、ers also reportedthat they could see themselves using these termssocially.While process-focused terminology including wordslike“fermentation”and“brewing”performed well insome markets and contexts,they were polarizing inothers.“Fermentation”had positive healthconnotations in France and Spain,but was

127、relativelylower in appeal to respondents in the United Statesand the United Kingdom.Variants of“brewing,”which were tested in English and German fortranslation reasons,were seen as familiar and madethe products seem innovative,but were similarlyreported as less appealing by respondents comparedto ot

128、her terms.When describing the process by which ingredientsare produced,its clear that people desire detail,butnot a lengthy scientific explanation.The GFI andAccenture research tested explanations of theprecision fermentation process that went intodifferent levels of detail,and the most favoredexpla

129、nation included:A light walkthrough of the process.Relatable examples of host microorganisms.Relatable examples of the ingredients produced.Confirmation that the produced ingredient is thesame as the conventionally produced ingredient.The messaged benefit of the ingredient beingproduced without anim

130、als.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy26The explanation most preferred by respondents:Just like brewing beer,this fermentation process usesmicroorganisms like yeast.In this case,microorganismsare programmed to produce specific proteins duringfermentation,when

131、they are fed sugars,which theyconvert into dairy or egg proteins,like whey or casein.These proteins are identical to what wed find in milk oreggs but made without animals.Similarly,a 2022 study by Hartman Group andPerfect Day found that reported purchase likelihoodfor precision-fermented dairy(as we

132、ll as plant-basedmeat)increased after a short description,showingthat messaged descriptions can help introduceconsumers to the category.In our work across multiple aspects of the transition towards sustainable andnutritious diets,we see precision-fermented food and drink as an exciting andcritical s

133、olution.With this new,data-driven perspective on nomenclature andmessaging,the global Food Industry can now position these emerging productsand ingredients in ways that appeal to mainstream audiences,helping to ensurewidespread,global uptake.What comes through loud and clear is the importanceof comm

134、unicating in ways that feel familiar and everyday,majoring onmainstream benefits that truly resonate with consumers like taste,price andconvenience while differentiating through more unique health andsustainability benefits.Fiona BennieManaging Director,Accenture SongSustainability,Future of Food&Ci

135、rcularityConsumer awarenessand familiarityWhile most consumers are not familiar with precisionfermentation as a process,a significant minority areaware of product categories made with it.Many arealready using products made with fermentation,such as cheese,vitamins,and supplements.A November 2023 stu

136、dy conducted by MorningConsult on behalf of GFI evaluated U.S.adultsperceptions of and openness to emergingalternative protein technologies(includingprecision-fermented dairy products and meatmade from mycoprotein).The same surveydetailed that 30 percent claimed to be aware ofmeat products made with

137、 mushrooms and fungiwhile 27 percent of all consumers claimed to bevery or somewhat familiar.A 2023 study by the International FoodInformation Council(IFIC)found that 29 percentof U.S.consumers had heard of“fermentedprotein,”and 16 percent had heard of“mycoprotein.”A 2022 study by Hartman Group and

138、Perfect Dayin the United States found 29 percent reportedbeing familiar with precision-fermented dairy.Similar rates have been seen in other countries forrelated technology.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy27A 2023 study in Canada by Powell et al.onconsumer p

139、erceptions of yeast-derived dairyfound that 56 percent of participants respondedthat they had heard of cellular agriculture(defined for participants as“a set oftechnologies used in the production ofagricultural products like meat,dairy,eggs,andother animal products using cell cultures ratherthan rel

140、ying on animals”),vs.44 percent whohad not;35 percent said that they understood it.While this seems high given the novelty of thetechnology,these consumers were able toidentify cellular agricultures use in meat,dairy,leather,and pharmaceutical production.A 2022 survey by BCG and Blue Horizon foundth

141、at 47 percent of consumers globally reportedhaving heard of fermentation-based proteins,and as high as 73 percent in the United Kingdom.While awareness of most precision-fermentedproduct categories is low,consumers are alreadyusing many products made with fermentation(sauerkraut,miso),which suggests

142、 a moderatelearning curve.New launches and marketing willlikely increase awareness and understanding in thecoming years.Product appealWhen consumers are informed about the definitionof fermentation-derived products and asked aboutproduct appeal,many rate them positively in termsof appeal and interes

143、t.In a November 2023 survey conducted byMorning Consult on behalf of GFI,42 percent ofconsumers rated animal-free dairy as appealingafter reading a brief description,including theterm“fermentation”;35 percent ratedmycoprotein as appealing after reading a briefdescription.GFI and Accenture found 47 p

144、ercentof consumers in France,Germany,Spain,theUnited Kingdom,and the United States foundprecision-fermented dairy appealing.IFICs 2023 study found that 37 percent of U.S.consumers reported being interested in productsmade with fermented protein,which was anotable increase from their 2021 survey wher

145、e27 percent reported interest.A comparablenumber(33 percent)were interested in tryingmycoprotein products.Powell et al.found that 46 percent of Canadianrespondents indicated positive feelings towardthe term:“yeast-derived agriculture.”Precision fermentation descriptionConsumers saw this description

146、of precisionfermentation after reporting awareness andbefore reporting perceptions and likelihood topurchase.“As you may know,fermentation is used tomake foods like beer,bread,and yogurt.Wecan also use a type of fermentation to convertsugars into dairy or egg proteins like whey orcasein.These protei

147、ns are identical to whatwed find in milk or eggs,but made withoutanimals and can be used to make animal-freedairy products like ice cream,milk,proteinpowder,and more.Some examples includebrands like Modern Kitchen and Nurishh.”Consumer willingness to tryMany consumers express willingness to try andp

148、urchase precision-fermented products,likelybecause of expectations around taste,health,andsustainability.This is notable for a category thatmost consumers are not familiar with,and suggestsmany consumers will be interested in trying andpurchasing as they learn more about precisionfermented products.

149、Try and purchaseConsumers expected purchase rates forprecision-fermented products are difficult todetermine and vary widely due to the diversity ofproducts,limited consumer access,and variedconsumer understanding.But most studies showthat either a significant minority or slight majority of2023 State

150、 of the Industry Report/Fermentation:meat,seafood,eggs,and dairy28consumers are willing to try or purchase variousfermentation-enabled products.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy29Perfect Day,inc.produces milk proteins using fermentation.Photo credit:Perfect D

151、ay,Inc.GFI and Accenture found that 51 percent ofconsumers on average across France,Germany,Spain,the United Kingdom,and theUnited States were willing to try precisionfermented dairy.A 2023 study by Thomas et al.in the UnitedStates,Germany,and Singapore found highlevels(greater than 50 percent)of wi

152、llingness totry precision-fermented eggs in all threecountries.GFI and Accenture found comparablelevels with 50 percent willing to tryprecision-fermented eggs on average acrossFrance,Germany,Spain,the United Kingdom,and the United States.A November 2023 study conducted by MorningConsult on behalf of

153、 GFI found 23 percent ofconsumers reported they would be likely topurchase animal-free dairy,and 20 percentreported they would be likely to purchasemycoprotein meat.In a 2022 study by Hartman Group and PerfectDay in the United States,43 percent of consumersreported that they would be likely to purch

154、aseprecision-fermented dairy products.Additionally,the study found that purchase likelihood wasstrong across multiple categories and formatswhere consumers were told precisionfermentation could be used,including proteinpowder,drinkable yogurt,protein bars,energydrinks,sports drinks,and even flavored

155、 water.A November 2023 study conducted by MorningConsult on behalf of GFI asked consumers tocompare animal-free dairy products head-to-headwith their conventional counterparts on keydescriptors based on their understanding of thetechnology(after a brief description,shown above in“Consumer awareness&

156、familiarity”).For bothanimal-free dairy and mycoprotein,most consumersare likely to believe that these products are equallyor more sustainable and healthy than conventionalproteins.Only around 25 to 30 percent see theproducts as more processed than conventional meat.Other studies have suggested that

157、 health benefitswill play a key role in category receptivity:GFI and Accenture found 41 percent ofconsumers across France,Germany,Spain,theUnited Kingdom,and the United States whoreported willingness to try precision-fermenteddairy cited health as a top reason.A 2022 study by Hartman Group and Perfe

158、ct Dayin the United States found that consumers topcriterion for willingness to purchase is whetherprecision-fermented dairy products were safe(60 percent),followed by taste(59 percent),andhealth(53 percent),with other factors like costvalue,allergens,endorsement by authority,andnon-GMO being of low

159、er importance.In a multinational 2023 analysis,Dean et al.found consumer willingness to try and buy meatmade using mycoprotein slightly higher than forplant-based meat on average,though willingnessto pay was slightly lower.This is likely due toconsumers being less familiar with fermentedproteins tha

160、n plant-based meat but is a positivesignal for future trial and adoption.Their earlieranalysis in 2018-19 found that perceptions ofhealth were most predictive of willingness to tryand buy meat made using mycoprotein,whileperceptions of taste would be more predictive ofa willingness to pay a premium

161、for mycoproteinvs.conventional products.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy30A 2021 study by Thomas and Bryant foundconsumers in five countries(Brazil,Germany,India,the United Kingdom,and the UnitedStates)expect animal-free cheese to be tastierthan plant-based

162、cheese and comparable tobasic,non-premium animal-based cheeses.Animal-free cheese was also perceived in all fivecountries as more ethical and sustainable thanvegan and conventional cheese,and comparablyas healthy and nutritious as vegan cheese.A focus group study by Broad et al.in 2022 inthe United

163、States,Germany,and Singaporefound consumers were more likely to associate“animal-free”and“fermented”dairy(both termswere introduced to participants)with animalwelfare benefits than environmental,individualhealth,and public health benefits.While thismay have been prompted because the productdescripti

164、on that participants reviewedemphasized the concept of making“the sameproteins”without using animals,it does suggestthat positioning products as animal-freesuccessfully conveys benefits that would leadthem to try or buy.Overall,these studies suggest that once messagesare shared with consumers,they r

165、eadily associateethical,environmental,health,and taste benefitswith products made via precision fermentation,andthat health may play an important role alongsidetaste and price in driving purchase consideration.Tomorrow Farms Bored Cow milk made with milk protein fromfermentation.Photo credit Tomorro

166、w FarmsConsumer research anddemographic insights fromaround the worldConsumer research on fermented proteins andmycoprotein has been global in scope,andresearchers in the past few years have releasedvarious studies showing strong expected responsesto these products in many countries.A 2023 analysis

167、by Dean et al.of survey datafrom 2018-19 on consumer perceptions ofmycoprotein in 12 countries representing over33 percent of the estimated global population(China,United States,Indonesia,Pakistan,Brazil,Mexico,France,United Kingdom,Spain,Netherlands,Dominican Republic,and NewZealand)found consumers

168、 overall reportedbeing probably willing to try and buy“fungal-based”meat products,and thatconsumers in Indonesia,Mexico,Netherlands,Spain,and the United Kingdom were most willingto buy them.A 2021 study by Thomas and Bryant ofconsumers in the United States,Brazil,UnitedKingdom,Germany,and India(summ

169、arized inour 2022 State of the Industry Report)foundstrong majorities of consumers(around 50 to 75percent in the United States,United Kingdom,and Germany)and as high as 90 percent(inBrazil and India)are willing to try and buy ananimal-free cheese product after reading adetailed explanation of precis

170、ion fermentationand the sensory properties of resultantingredients/products.While each of these studies took differentapproaches to nomenclature and categoryexplanation that prevent direct comparison,it isclear that attitudes toward fermentation-enabledalternative proteins likely vary widely by cult

171、ure,making local research crucial for companiesconsidering introducing products to new markets.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy31Figure 7:Ranking of potential precision fermentation category descriptions in five countriesSource:GFI and Accenture survey of n=

172、5,128 consumers in 5 countries,September 2023Rankings are shown among 6 names tested across all countries;additional local names tested are not factored in ranking;additional nameswere not#1 on net in any country*=carries an additional connotation vs.the English terminology;tested names were transla

173、ted by native speakersFigure 8:Consumer metrics for fermentation-enabled productsSource:Poll by Morning Consult on behalf of GFI,n=2.203 U.S.adults November 20232023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy32Figure 9:Do each of the following attributes describe animal-fr

174、ee or conventional dairy better?Source:Poll by Morning Consult on behalf of GFI,n=2,228 U.S.adults December 2023Figure 10:Do each of the following attributes describe mycoprotein or conventional meat better?Source:Poll by Morning Consult on behalf of GFI,n=2,228 U.S.adults December 20232023 State of

175、 the Industry Report/Fermentation:meat,seafood,eggs,and dairy33InvestmentsInvestmentsOverviewFollowing the first disclosed investment in afermentation company in 2013,companies primarilyinvolved in the fermentation space have raised atotal of$4.1 billion to date,with 95 percent ofinvested dollars in

176、 the last five years alone.While2023 fundraising totals marked a decline from 2022levels,other primarily venture-backed sectors likefintech also experienced funding declines of around50 percent year-over-year(YOY).Fermentation companies raised$514.7 million in2023,representing a 32 percent decrease

177、from the$758.5 million raised in 2022.Similar declines wereseen across global venture funding and benchmarksegments like climate tech and food tech.Fermentation remains a relatively nascent sectorwith fewer than 200 companies worldwide.As aresult,a minority of deals can significantly impactannual in

178、vestment totals for the sector.For example,in 2022,nearly half$355 millionof the years totalinvestment dollars were raised from just three deals:Meati Foods$150-million Series C round,Remilks$120-million Series B round,and Mycotechnologys$85-million Series E round.Since advancedcompanies generally d

179、o not raise large rounds twoyears in a row,there is a degree of randomness inany single years funding totals.The fermentation sector lacked similarly sizedrounds in 2023,in which the largest three dealstotaled$168.7 million.This made it difficult for theindustry to meet 2022s funding levels.That sai

180、d,not all regions saw declines in fermentationinvestments.Fermentation funding in Europe in2023 totaled$179.4 million in 2023,a 22 percentincrease from 2022,and the highest annual total forthe region to date.The wider alternative protein industry also sawprivate funding fall in 2023.While alternativ

181、e proteincompanies raised$15.7 billion from 2014 to2023over half of which was raised in 2020 and2021investments dipped from$2.9 billion in 2022to$1.6 billion in 2023.That said,these totalsandthose for fermentation companiesare likelyunderestimated.Some companies raised funds thatwere not publicly re

182、ported under simple agreementsfor future equity(SAFE)or bridge rounds to increasefinancial runway.While certain deals,in general,arenot publicly disclosed,we suspect an increasedfrequency of under-reporting this year based on thelarger number of SAFE and bridge rounds and ourconversations with marke

183、t participants.Some ofthese investments may eventually be reported asinvestments in 2024.Various industries contended with a tepid privatefunding environment in 2023 driven by rising interestrates,elevated inflation,and a mixed economicoutlook.As a result,global venture funding across allsectors fel

184、l 42 percent YOY in 2023 to its lowestlevel since 2017.Climate tech equity investmentsdecreased by as much as 40 percent YOY,despitethe sector receiving significant government supportthrough the Inflation Reduction Act and otherpolicies that helped to de-risk and fuel investment.Investments in food

185、tech startups declined by 61percent YOY.Even in the face of these challenges,thefermentation industry continued to advance in 2023.Fermentation companies around the world hit keyproduct development,distribution,and scalingmilestones.All the while,companies continued toinnovate their processes and pr

186、oducts.The challenging private funding environment forfermentation and alternative proteins may continuein the year ahead,especially as interest rates in theUnited States,Europe,and elsewhere are likely toremain elevated in 2024.At the same time,alternative proteins and fermentation continue to becr

187、itical tools for producing protein in more efficient,secure,and sustainable ways.This also makesfermentation an important ESG opportunity,providing potential upside for investors and theindustry.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy35With this backdrop,we expect

188、alternative proteinand fermentation investments to evolve in thecoming years.Since 2023 was a year of majortransition,the industry is likely to settle on anadjusted,more realistic path in 2024.In light of thetighter private funding environment that is expectedto persist into 2024,we expect the alter

189、nativeprotein companies best positioned to attract equityinvestment will be those that can demonstrate clearpathways to revenue and profitability.At the sametime,long-term debt,grants,and governmentincentives are essential for companies to lower theirproduction costs and achieve price parity as they

190、scale production.To enable alternative proteincompanies to access such funding,they will needcreative solutions in areas such as product off-takeand leveraging government and philanthropicfunding.Fortunately,there are replicable solutionsalready being implemented(e.g.,school districtsprocuring alter

191、native proteins for lunch menus)aswell as those that have been successfully used inother industries(e.g.,government loan guaranteesand blended philanthropic financing for renewableenergy).Through multi-stakeholder collaboration,these solutions can facilitate the flow of capital intoalternative prote

192、ins.Regardless of external market forces,if governmentsand companies are serious about improving foodsecurity,reducing emissions,and achieving theirclimate goals,more alternative protein funding isneeded to help companies scale,improve theirproducts,and reduce their costs.Source:Unless otherwise cit

193、ed,the investment datareported above was derived from GFIs analysis ofdata from Net Zero Insights.Note:Aggregated data has not been reviewed by NetZero Insights analysts.Total deal counts includedeals with undisclosed amounts.Figure 11:Cumulative and annual alternative protein invested capital,by pi

194、llarSource:GFI analysis of data from Net Zero Insights.Note:Data has not been reviewed by Net Zero Insights analysts.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy36Figure 12:Cumulative and annual investment in fermentation companies(2014-2023)Source:GFI analysis of data

195、from Net Zero Insights.Note:Data has not been reviewed by Net Zero Insights analysts.Figure 13:Investments in fermentation by region(2014-2023)Source:GFI analysis of data from Net Zero Insights.Note:Data has not been reviewed by Net Zero Insights analysts.The total deal count includes deals with und

196、isclosed amounts.Note:Fermentation totals include investments in companies focused primarily on plant molecular farming due to similarities in the types ofingredients they produce and in the downstream processing to obtain those ingredients from the host organisms.2023 State of the Industry Report/F

197、ermentation:meat,seafood,eggs,and dairy37Figure 14:Investments in fermentation:Top 10 countries(2014-2023)Source:GFI analysis of data from Net Zero Insights.Note:Data has not been reviewed by Net Zero Insights analysts.The top 10 countries were selected based on 2023 invested capital.The totaldeal c

198、ount includes deals with undisclosed amounts.*Fermentation totals include investments in companies focused primarily on plant molecular farming due to similarities in the types ofingredients they produce and in the downstream processing to obtain those ingredients from the host organisms.Table 5:Dea

199、l type summary statisticsSource:GFI analysis of data from Net Zero Insights.Note:Data has not been reviewed by Net Zero Insights analysts.These figures represent summary statistics of invested capital rounds withdisclosed deal amounts.Deal count includes rounds with undisclosed amounts.Due to their

200、limited number and size,this table excludes angel,bridge,convertible note,corporate,convertible debt,general crowdfunding,equity,growth equity,late VC,private equity,productcrowdfunding,and series F,G,and H rounds.It also excludes uncategorized rounds.2023 State of the Industry Report/Fermentation:m

201、eat,seafood,eggs,and dairy38Figure 15:2023 key funding roundsSource:GFI analysis of data from Net Zero Insights.Note:Data has not been reviewed by Net Zero Insights analysts.“2023 key funding rounds”includes investments in the 75th percentile orhigher by dollar amount for each funding round category

202、 that includes more than three deals.For funding round categories that include threedeals or fewer,all deals are included.For a list of investors who have expressed interest in funding fermentation-enabledalternative proteins,companies can request access to GFIs investor directory.2023 State of the

203、Industry Report/Fermentation:meat,seafood,eggs,and dairy39MethodologyGFI conducted a global analysis of fermentationinvestments using data from Net Zero Insights.Ouranalysis uses a list we custom-built in Net ZeroInsights platform of companies that focus primarilyon fermentation-enabled meat,egg,and

204、 dairyproducts or on providing services to those whoproduce them.Types of companies included and excludedWe excluded the many companies that areinvolved in fermentation but not as their corebusiness,such as Kerry,as the funding thesecompanies devote to fermentation isundisclosed.We also exclude comp

205、anies that are morefocused on plant-based or cultivated meat thanfermentationwe instead include thosecompanies in the area they are most involved in(e.g.,plant-based,cultivated).Some companies use another alternative proteinproduction platform to produce inputs forcultivated meat,for example using p

206、recisionfermentation to produce growth factors.Thosecompanies were categorized as fermentationcompanies and were excluded from ourcultivated meat dataset.Companies focused primarily on plant molecularfarming are included in overall fermentationinvestment totals owing to similarities in thetypes of i

207、ngredients they produce and in thedownstream processing to obtain thoseingredients from the host organisms.The Net Zero Insights platform contained 171companies primarily focused on fermentation,151 ofwhich had disclosed deals.Of these,128 had dealswith publicly disclosed amounts.Net Zero Insightspr

208、imarily tracks deals from publicly disclosedsources unless companies claim their profiles on theplatform and provide their own investmentinformation.Because our aggregate calculationsinclude only companies with deals and deal sizesavailable to Net Zero Insights,they are conservativeestimates.Types o

209、f funding includedFor this report,invested capital/investment comprisesaccelerator and incubator funding,angel funding,bridge funding,convertible debt,corporate venture,equity and product crowdfunding,general debtcompleted deals,debt crowdfunding,seed funding,early-stage venture capital,late-stage v

210、enture capital,private equity growth/expansion,capitalization,jointventure,and private placements.Liquidity eventscomprise completed mergers,acquisitions,reversemergers,buyouts,leveraged buyouts,spinoffs,andIPOs,while other financing comprises completedsubsequent public share offerings and privatein

211、vestment in public equity.We do not include capitalraised through a SPAC IPO until the entity has mergedwith or acquired a target company.Data providerPlease note that the figures published in this reportmay differ from prior figures published by GFI as weare now using Net Zero Insights as our inves

212、tmentdata provider and are continually working to improveour dataset.To verify your companys data on theNet Zero Insights platform,claim your companysprofile here and help us ensure we have access tothe fullest,most up-to-date information.2023 State of the Industry Report/Fermentation:meat,seafood,e

213、ggs,and dairy40Liquidity eventsLiquidity events represent the sale of an equityowners interest in a company typically through amerger,acquisition,buyout,or IPO.In a developingcategory like the fermentation sector,certainliquidity events such as mergers and acquisitions aremore common components of i

214、ndustry development,while others,such as IPOs,are less common at thisstage.Mergers and acquisitions(M&A)allowcompanies with stronger financial footing to acquirefirms with valuable technologies,manufacturingprocesses,and talent.That said,liquidity eventactivity is also highly dependent on the broade

215、reconomic context.A handful of liquidity events,also known as exits,took place in 2023.Perfect Day,a precision fermentation company,sold their consumer-facing subsidiary The Urgent Company(which includes brands Coolhaus and Brave Robot)to U.S.food tech company Superlatus for$1.3 million.Additionally

216、,technology and bioproducts developer Solar Biotech acquired biomass fermentation company Noblegen for an undisclosed amount.In a year when global M&A activity fell to its lowestlevel in over a decade,the relatively small numberof fermentation liquidity events was representativeof the larger funding

217、 and M&A environment.Thesame conditions that led to fundraisingdifficultieslike economic concerns and a tightfinancing environmentalso contributed to limitedM&A activity.While we expect fermentation liquidity event activityto accelerate in the coming years,the rate at which itdoes so will also hinge

218、 on conditions like interestrates,economic sentiment,and views of the sector.Note:Unless otherwise cited,all of the informationpresented in this Investments section is from GFIsanalysis of data from the Net Zero Insights platform.Please note that aggregated data has not beenreviewed by Net Zero anal

219、ysts.Disclaimer:The Good Food Institute is not a licensedinvestment or financial advisor,and nothing in theState of the Industry Report series is intended orshould be construed as investment advice.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy41Science andtechnologyScien

220、ce and technologyOverviewInnovative companies and food scientists areexploring exciting new ways to use fermentation tocreate delicious alternatives to meat,seafood,eggs,and dairy.This nature-inspired technology is behindmycoprotein-based meats,precisionfermentation-enabled casein and whey proteins

221、forcheese,and microbial oils and fat.The field isgrowing,but theres still untapped potential in thevast diversity of microbes and fungi.Whilefermentation-derived foods have becomewell-established in recent years,price and tasteparity have yet to be realized.In the past year alone,notable advances in

222、fermentation science and technology took place.These advances focused on how microbes can:improve taste,texture,and nutritional profiles;reduce waste and enable upcycling;contribute tofood safety;and add much-needed diversificationto vulnerable food supply chains.Research this yeardemonstrated how m

223、icrobes are capable of feedingmore people in far more efficient ways.The impactof fermentation expands beyond food systemtransformation and into helping build a resilientcircular bioeconomy.Innovation in this field is largely driven byprivate-sector research and development.Whatbegan as a trickle of

224、 applications in the first half ofthe 2010s has led to nearly 178 awarded patentsfrom 2021 to 2023,with 417 and 319 patentapplications in 2022 and 2023,respectively(see the“Scientific ecosystem”section for more).Theseprotected innovations and intellectual propertyapplications represent processes,com

225、positions,anddesigns that will continue to contribute to thefermentation ecosystem.While much of this tracked innovation is in theprivate sector,theres also a continuous need foropen-access research to democratize knowledgeand pave the way for affordable,delicious alternativeproteins and fats.In the

226、 public research realm,fermentation for food proteins and oils is one ofmany potential applications for microbial cellfactories.Many of the research developments in the followingsections highlight these public and private sectorR&D endeavors in 2023.While most of thesehighlights are alternative prot

227、ein-and food-focused,some research highlights include enablingfermentation technologies across sectors.Check out our research grants page to explore grant opportunities and meet thescientists leading open-access fermentation research for applications in meat,eggs,and dairy.2023 State of the Industry

228、 Report/Fermentation:meat,seafood,eggs,and dairy43Ingredient trendsand highlightsBiomassProtein productsincluding center-of-plate optionslike patties,steaks,and cutletsare being producedthrough biomass fermentation from microorganismslike fungi,yeast,microalgae,and bacteria.Mycoproteinand mycelial s

229、ources continued to expand in 2023 dueto their market familiarity,techno-economics,andtaste and texture properties.Much of the myceliumand fungal biomass research this year focused onproducing improved strain and processes for taste,texture,and price.There was also an increase inresearch around form

230、ulation and nutritionalattributes of fungal biomass,signaling a transition tomore mainstream end-product development.In 2023,there was also progress on novel biomassprotein sources,like single-cell protein(SCP)frombacteria,microalgae,gas-fed microbes,as well aspreviously unexplored fungi.Much of thi

231、s researchfocused on improving the techno-economics anddeveloping novel processes to leverage moresustainable feedstocks through upcycling wastebiomass or sequestration of carbon dioxide as afeedstock.Research on SCP sources also focused onend-product formulation to improve hybrid andstandalone micr

232、obial formulations.Precision fermentation targetsProteins produced via precision fermentation(PF)areoften selected to replicate the taste and texture ofdairy and meat or to improve the flavor and nutritionalprofile of various food formulations.Certain proteinsenhance food products even in small conc

233、entrations,such as leghemoglobin for meat protein enhancement(2 percent concentration),alternative proteinsweeteners(0.1 percent),or bioactive nutrientproteins(90percent oil recovery with significantly less energyinput than traditional dry biomass solventextraction methods.Researchers at KU Leuven p

234、rovided acomprehensive overview and case study forenzyme-assisted extraction of microbial oilsfrom the oleaginous microalgaeNannochloropsis.GFI research program grantee Connectomix Biois developing techno-economic models fortransforming waste into microbial lipids liketriacylglycerols and phospholip

235、ids for foodapplications via common oleaginous yeast.Theirmodels will inform techno-economic challengesand opportunities for waste to microbial lipidbioprocesses,providing pathways for processoptimization.Polyunsaturated fatty acids(PUFAs),such as theomega-3s docosahexaenoic acid(DHA)andeicosapentae

236、noic acid(EPA),play a pivotal role asessential nutrients for humans.A comprehensive review of microorganisms,thepatents landscape,and commercialbioprocesses for omega-3s was published byresearchers at the Federal University of Paran.The review highlights the growing demand foromega-3s and the need f

237、or increased microbialoil production.Researchers at the National KaohsiungUniversity of Science and Technologydemonstrated enhanced production of PUFAs athigh glucose concentrations from the commonlyused marine protist,Aurantiochytrium sp.Theyfurther evaluated and increased PUFAproduction in another

238、 marine protist,Thraustochytrium sp.,through upstreamcultivation condition optimization.The commercial microbial production of PUFAsis increasing,with many companies offeringmicrobially derived omega-3 and omega-6alternatives.In 2023,Hubei FuxingBiotechnology Co received GRAS status forarachidonic a

239、cid,an omega-6 fatty acid,produced from an oleaginous yeast(Mortierellaalpina)for use in animal-and plant-based milk.The addition of PUFAs to plant-based milksoffers a nutritional upgrade to an increasinglylarge group of products.The Jiangsu Grand Xianle PharmaceuticalCompany submitted a new GRAS ap

240、plication fordocosahexaenoic acid,an omega-3 fatty acid,produced from Schizochytrium sp.,a commonoleaginous algal protist.The algal oil DHA isintended as a replacement for menhaden(fish)oil in several food categories.See GFIs solutions database for more information on omega-3 PUFA production potenti

241、al.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy57End-product formulationDefinition:Product formulation is a complex process that includes ingredient interactions and testing fordesired texture and sensory attributes.With FD products still an emerging category in alterna

242、tive proteins,they can achieve even greater sensory and textural breakthrough innovations in formulation andmanufacturing.At the same time,FD ingredients are commonly used in the food industry.As new ingredientsand products emerge,companies need to assess formulation and demonstrate manufacturing at

243、 scale.End-product formulation also informs target selection and design if a target molecules functionality affectsthe final formulation or desired functionality.Partnerships with established food companies can enablerapid development given the long-standing expertise in formulation.Finally,much of

244、the development inrecent years has been food-tech-centric,though 2023 demonstrated an influx of end-product food science,formulation,and nutritional assessments of fermentation-derived alternative proteins and fats.Research highlights:End-product formulationNew research elucidating and improving pub

245、licunderstanding of mycoprotein formulation emergedin 2023,including several patents and publicationsinvolving end-product formulation with mycoproteinand other fungal biomass proteins like mycelium.These products continue to enter the market,alongwith Quorns long-standing offerings and newanimal-fr

246、ee formulations.Developing a formulation with optimal ingredientbinding plays a crucial role in the texture and taste ofan end product.Often,food formulations come fromlongstanding recipes without a mechanisticunderstanding as to“why”an ingredientcombination is effective.EWP has long been used as a

247、binding agent inmycoprotein formulations.Researchers at theUniversity of Leeds and Quorn Foods describedfungal hyphae interaction with EWP and itsmoderating effect on the mycoprotein pastesproperties under varying conditions.Theirmicroscopic imaging confirmed that EWPcovered the fungal hyphae,suppor

248、ting the ideathat EWP-coated surfaces play a vital role inenhancing interactions and could be essential foreffective binding in the system.This research team followed up by evaluating theuse of potato protein(PoP)as a substitute forEWP,as well as fortification formulations withcalcium and iron to im

249、prove the micronutrientbioavailability in fungal-based meat alternatives.They found that PoP coated the fungal hyphaesimilarly to EWP,but resulted in a significantreduction in stiffness,suggesting potentialbenefits for fortifying an egg-free mycoproteinformulation with micronutrients.Likely inconjun

250、ction with this research,Marlow Foods(Quorn Foods)was granted a patent for fungalfood formulations without EWP.There are many ways to develop a foodformulation with improved taste and texture.Researchers at the Iran University of MedicalSciences and Halal Research Center of IRIevaluated mycoprotein

251、nugget formulas with soyprotein isolate,carrageenan,or phosphateadditions and developed a formulation withsimilar or better characteristics compared to acontrol ground chicken breast formulation.Though often grouped together,whole biomassand protein isolates can offer vastly differentfunctionality o

252、ptions for alternative proteinproducts.Researchers from Lund University andthe startup company Mycorena co-evaluatedmethods for efficient mycoprotein extractionfrom filamentous fungi,focusing on cell wall2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy58degradation and prot

253、ein functionalities resultingin a high-yield process for protein isolates withimproved emulsifying and foaming propertiescompared to the fungal biomass alone.While fungal biomass is valued for its highprotein content and nutritional protein quality,italso contains insoluble dietary fiber(IDF),whichp

254、lays a crucial role in gastrointestinal health.Researchers at Tianjin Institute of IndustrialBiotechnology evaluated the extraction of IDFfrom mycoprotein and its functional propertiessuch as emulsification and water-holdingcapacity for applications as a separate functionalfood ingredient.With the i

255、ncreased fungal protein productformulation and products on the market,it is nosurprise to see a number of secured patents forthese companies.Meati(Emergy Inc.)was awarded a U.S.patentfor edible compositions including fungalmycelium protein.The commercial term for theirNeurospora crassa biomass ingre

256、dient isMushroomRoot.Similarly,Mycorena AB was granted two patentsin Sweden for a dairy replacement and dry foodproduct formulation containing their fungalbiomass ingredient.Mycorena has developed apatent-pending method for a printable foodproduct comprising their fungal biomassingredient.A patent w

257、as also granted to Natures Fynd fortheir surface fermentation-produced fungalprotein.Their patent provides descriptivemanufacturing processes for harvesting,deactivation,size reduction(grinding,chopping,etc.),and end-product formulation claims forfood products produced using their FD protein.Food fo

258、rmulation chemistry can be modified throughvarious ingredient mixtures,and PF has theopportunity to further improve desired end-productcharacteristics through fermentation-enabledproduction of animal-origin proteins or throughtargeted protein modification.The use of specificproteins,protein fragment

259、s/peptides,or alternativepost-translational modifications can change proteinproperties and formulation characteristics and opennew opportunities to improve flavor,texture,aroma,and nutrition.This year,The EVERY Company was granted apatent for microbial-produced EWP(ovomucoid)that is highly soluble a

260、nd able to form anoptically clear,high-protein liquid.Animal-freeEWP will be a choice ingredient for many foodformulations.Researchers at Wageningen University andTechnische Universitt Braunschweigdemonstrated that the aggregation behavior ofrecombinant-lactoglobulin(whey protein)canbe modified thro

261、ugh the removal of cysteine toinduce more amyloid-like linear fibril proteinstructures.Examining the impact of the cysteineremoval site on the overall protein structureprovides valuable insights into the specificmodulation of the proteins structure.A 2023 patent was awarded to Perfect Day fortheir r

262、ecombinant-lactoglobulin proteinproduct and methods for food formulationscontaining the companys whey protein,including sweet proteins,fats,and othernutrients.This patent filing underscores thevarious potential applications for a singleprotein.In milk,caseins are localized to large globularaggregate

263、s called casein micelles.Their main biologicalfunction is to transport and deliver proteins,calcium,and phosphate to young mammals.In traditionalcheese production,these micelles stick to each other toform curds through acid coagulation and enzyme rennetcleavage of kappa casein.Understanding anddevel

264、oping formulations for precision dairy products isessential for the development of cheese formulationsthat may contain both fermentation-derived andplant-based ingredients.This past year,researchers from WageningenUniversity evaluated formulations of artificialcasein micelles in several evaluations,

265、includingthe influence of temperature,pH,and calcium2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy59concentration on micelle formation.In one,theyassessed the importance of caseinphosphorylation in casein micelle formation,which has been one of the challengessurrounding P

266、F-derived caseins.Their researchfound that the phosphorylated casein is crucialto micelle formation and sufficient curdformation.In contrast,New Culture formulated anon-micellar mozzarella cheese using variousbacterial strains of dephosphorylated precisionalpha-casein(patent granted)and combinations

267、of alpha and kappa casein(patent pending).Their innovative formulations had highlycomparable firmness,stretch,and meltcharacteristics to animal-based mozzarella,highlighting the importance of thinking creativelyabout end-product formulation to achievedesired characteristics without strictlymimicking

268、 traditional cheese production.Microalgae have long been touted as a productionmicroorganism for food protein and lipids.Advancesin cultivation and end-product formulation into finalproducts have increased their commercialapplications.In 2023,startups and researchersachieved success in formulating E

269、WP and seafood,two food applications where achieving the rightorganoleptic properties is challenging.Researchers at the Singapore Institute ofTechnology investigated the impact ofincorporating different amounts of themicroalgae Nannochloropsis into plant-basedfishcakes,comparing them to surimi-andpe

270、a-protein-based fishcakes.The study revealedthat the addition of microalgae improved textureand protein digestibility,bringing the productcloser to animal-based surimi than pea proteinalone.The findings underscore the significanceof hybrid products and thorough end-productcharacterization in the dev

271、elopment of new fooditems.A patent was granted to Noblegen,acquired bySolar Biotech this past year,for a dry eggreplacement product formulated with single-cellprotein flour derived from the microalgae Euglenagracilis.The egg formulation uses a Euglenaprotein-rich flour that has a beige-yellow colorc

272、losely resembling egg yolk products.This colormatch is achieved through heterotrophiccultivation of this microalgae,which reduces thegreen chlorophyll content and improvesdownstream product coloration.Achievingappropriate color is among the factors thatincrease the appeal of fermentation-derivedingr

273、edients to manufacturers.Researchers at Shenzhen University alsodemonstrated heterotrophic cultivation ofEuglena for protein production.Euglena biomassis already added to foods to boost theirnutritional profiles and expanded,high-efficiencyproduction would continue this trend.Elsewhere,a patent was

274、granted to KoraloFoods,an alternative seafood startup,for theirnovel alternative seafood product producedthrough the co-cultivation of fungal myceliumand microalgae that imparts the taste andtexture of seafood while also providing thenutritional benefits of both the fungal proteinand microalgae omeg

275、a-3-fatty acids in a singleprocess.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy60Environmental andsocial impactScientific and technological progress infermentation-derived protein production leads tobenefits in food production sustainability and foodsecurity.Fermentatio

276、n technology can improvequality of life worldwide by producing proteins withless environmental impact and create productionopportunities where few had previously existed.Bythoughtfully planning and integrating fermentationfor protein with other biomanufacturing,there is thepotential to further reduc

277、e the environmentalfootprint of production.A review from Microbiogen describes potentialscenarios for coupling clean energy,innovativefeedstocks,and integrated bioprocesses toproduce food and fuels via fermentation.Acollaborative review describes the potential forfermentation to decarbonize chemical

278、manufacturing.Of note,and especially exciting,is the potential for biogenic carbon dioxideoff-gas from these processes to be sequesteredor valorized as feedstock for other bioprocesses,further reducing biomanufacturings footprintand increasing production circularity.The fermentation ecosystem has en

279、ormous potentialto elevate the sustainability of food manufacturing,but without good models and quantitative insights,itwould be difficult to understand the most strategicimplementations of the technology or whereimprovements could be made.Life cycleassessments(LCAs)survey the input materials,resour

280、ces,and energy required for production toassess the categories and magnitude ofenvironmental impact.In alternative protein fermentation,thecategorical assessment of impacts can guideprocess improvements,material resourcing,andwaste management.An LCA/nutritionalassessment from the University of Helsi

281、nki on avariety of alternative proteins demonstrated thesustainability advantage of fermentation-derivedprotein for nutrition compared to animal-derivedproteins.However,the report also highlightedareas where particular types of FD productscould improve their environmental footprint.Individual compan

282、ies have chosen to scrutinizetheir ingredient production using an LCAframework.Bon Vivant published a detailed LCAfor their animal-free whey protein.By publishingLCAs,FD ingredient producers can demonstrateenvironmental benefits to consumers,distributors,investors,and governmentstakeholders.Other su

283、stainability models can show opportunitiesfor further research in microbial fermentation.Pentose sugars,a primary building block of cellulosicmaterials like plant stems and woody biomass,havelong remained a feedstock development goal forbioprocessors.A report from Kings College London modeledthe opp

284、ortunity for feedstocks from agriculturalleftovers,forestry residues,and other reliablestarch streams and identified almost 4,000megatonnes of glucose and xylose sugarspotentially available as feedstocks for thebiomanufacture of food via fermentation.Analyses such as this and GFIs sidestreamsanalysi

285、s highlight the challenging but promisingopportunities in waste biomass feedstocks forfermentation.Gas fermentation has received attention as a viableproduction pathway for food even in the absence ofagricultural feedstocks like sugars and starches.Commercialization of these technologies can bringpr

286、otein to regions where producing feedstocks orprotein by traditional means is challenging(e.g.,deserts,tundras,and highly urbanized areas).Broadly,gas fermentation approaches takeadvantage of microbial fixing of gasses like carbondioxide,methane,carbon monoxide,and nitrogenwhile using hydrogen as an

287、 electron donor.As thesemicrobes,typically bacteria,do not require sugar asa carbon source,the production of food andnutrients by these organisms can be decoupledfrom agriculture.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy61Synonym Bio was awarded Open Philanthropyfund

288、ing to explore gas fermentation processesfor food production to understand the currentand future techno-economics of gasfermentation approaches.This work willcomplement earlier assessments of thepotential for gas fermentation during potentialglobal food crises(ALLFED)and reviews of thecurrent state

289、of the gas fermentation ecosystem(GFI grantee,Dr.Lutz Grossman)highlighting itssustainability promise.Sustainable food production is an advantage of FDprotein.Biomass products like mycoproteins frommycelium and other fungi are also increasinglyrecognized as protein sources for those under threatof m

290、alnutrition or hunger.With demonstratedcommercial-scale production,global distribution,awell-characterized bioprocess,and a favorablenutrition profile,mycoprotein is poised to be a part ofthe solution that ends global hunger withinsustainability mandates.The startup Essential Impact shares this visi

291、on andhas begun commercializing an FD,low-cost,high-quality protein source for low-andmiddle-income countries.NutritionAs more fermentation-derived products enter themarket,both consumers and researchers areincreasingly interested in their health and nutritionbenefits.Nutrition studies can take the

292、shape ofbiochemical analyses,human subject studies,ordigestion analyses,all of which lend evidence to thenutritional benefits and drawbacks of any food.Marlow Foods,the makers of Quorn,continue tofund peer-reviewed,university-led,human-subjectresearch into mycoprotein health and wellnessbenefits:Res

293、earchers at the University of Exeter showedthat a vegan diet containing mycoproteinbiomass protein supported muscle growth andmaintenance for athletes.This researchaddresses a consumer concern regarding proteinintake for athletes and exercise.Mycoproteinhelps support athlete nutrition and provides a

294、high-quality protein source.At the University of Northumbria,a studydemonstrated that men consuming mycoproteinimproved several markers of gut microbiome anddigestive health compared to red and processedmeats.Additional studies by the authorsdemonstrated improvements in biochemicalmarkers of cardiov

295、ascular disease risk.Many studies have set out to capture the potentialhealth benefits associated with alternativeprotein-based diets(which can includefermentation-enabled proteins)compared topredominantly animal-based diets.To assess thesestudies at large,a team at the University of Warwickperforme

296、d a meta-analysis of available evidence toexamine the potential changes to cardiometabolichealth in those consuming a plant-based andmycoprotein diet.The authors found thatconsumption of these alternative proteins,asopposed to an omnivorous diet,had statisticallysignificant improvements in total cho

297、lesterol,LDL,and triglycerides levels.While“mycoprotein”is typically associated with F.venenatum biomass protein exclusively,researchersare delving into other sources offermentation-derived biomass protein to examinetheir health and nutrition properties.These resultssuggest that fermentation-derived

298、 proteins,and notonly mycoproteins,are highly nutritious,digestible,and safe.A team from Chalmers University of Technologyand the University of Bors evaluated thedigestibility,nutrient,and amino acid contentfrom Aspergillus oryzae,Neurospora intermedia,Fusarium venenatum,Rhizopus delemar,andRhizopus

299、 oligosporus.The results indicated thatedible fungi are a sustainable and nutritionallysound protein source.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy62Microalgae has also gained interest andenthusiasm from nutrition researchers.Plant-based fishcakes offer an alternat

300、iveprotein product in an important market sector.Scientists at the Singapore Institute ofTechnology demonstrated improvedfunctionality along with better proteindigestibility in alternative fishcakes with theaddition of Nannochloropsis oceanica biomass.GFI research grantee Jasper Zwinkels ofWageninge

301、n University published a paper onimproving the protein digestibility of plant-basedfeedstocks through solid-state fungalfermentation.The research demonstratesimproved protein digestibility of barley and riceusing the fungal strains Rhizopus microsporusand A.oryzae,which are commonly used intempeh an

302、d koji production,respectively.Researchers from Henan University ofTechnology and Kansas State Universitydeveloped a solid-state fungal fermentationprocess to upcycle and remediate cereal grainscontaminated with aflatoxin,a naturallyoccurring toxin produced by certaincrop-contaminating molds.The fer

303、mentationorganisms are equipped with mechanisms tometabolize the aflatoxin and detoxify thefeedstock.This technology has the promise tomitigate the risk of aflatoxins,reduce food waste,and improve the nutritional content of grains.Understanding the mechanisms that have led tothe adoption of particul

304、ar fermentation microbesin traditional fermentation will pay dividends inimproving the nutrition,digestibility,and sensoryproperties of FD alternative proteins.A reportfrom the University of Saskatchewan revealedproteomic changes in A.oryzae duringfermentation on pea protein isolate,to shed lighton

305、the process by which the fungus diversifiesthe amino acid content of the end product andimproves the availability of sulfur-containingamino acids.Scientific ecosystemSupporting the complete value chainfrom researchand development through commercialbiomanufacturing of fermentation-derived alternative

306、proteins and oilsrequires a varied set of efforts fromgranting support,safety validation,equipmentinnovations,and feedstock supplies to capital facilityprojects.The complexity of the space often makes itdifficult to see year-over-year progress.In 2023,GFI released a report and associatedaction paper

307、s to call for additional fermentationcapacity devoted to alternative proteinfermentation.Synonym,curators of theCapacitor database and Scaler TEA tool releasedtheir 2023 State of Global Fermentation thatidentifies trends in fermentation capacity,as wellas key needs for the industry,such as improvedy

308、ield,productivity,and titer for microbes andbioprocess alike.BioP2P launched theirbiomanufacturing facilities directory in July,withannotated capacity,downstream processingequipment,cell type compatibility,andfeedstock selection for users looking forfermentation and bioprocessing sites.In 2023,conso

309、rtia from university education andworkforce development have shown the transformativepotential of fermentation biomanufacturing.The Circular Bioeconomy InnovationCollaborative(CBIO)by BEAM Circular inCalifornia was established to bringbiomanufacturing to the agricultural region.In October,the Illino

310、is Fermentation and AgricultureBiomanufacturing Hub(iFAB)was established.Ledby the Integrated Bioprocess Research Laboratory(IBRL)pilot facility at the University of IllinoisUrbana-Champaign,iFAB has several goalsincluding securing funding for workforcedevelopment,fermentation capital expansion,anda

311、ttracting and incubating fermentation companiesof all sizes.Large,multipartner consortia such asthese leverage stakeholders from across thefermentation ecosystem and value chain to createsolutions and drive innovation.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy63In 202

312、3,several facilities progressed fromgroundbreakings to operational starts.In June,Liberation Labs broke ground and beganconstruction on their dedicated food precisionfermentation facility in Richmond,Indiana.LiDestri Foods and Fermentum announced afermentation partnership to operate an existing510,0

313、00-liter fermentation facility in Rochester,New York for food ingredients.In September,MycoTechnology unveiled theirFermentX contract manufacturing services,usingtheir Aurora,Colorado facility to offerfermentation capacity from pilot through to90,000-liter fermentations.ScaleUp Bio,an ADM and Nurasa

314、 joint venturecontract development manufacturingorganization(CDMO),announced their firstcommercial customers in November,withNourish Ingredients and C16 Biosciencesamong their first users.These facilities represent a massive push forward forthe industry to allow producers to leverage contractmanufac

315、turing for their innovative microbes andproducts.The highlighted progress in the sector demonstratesthe abundance of public and private researchersaround the globe who are developing newfermentation-derived ingredients.Often,researchersreport progress in peer-reviewed manuscripts,likethe many report

316、ed in this section.Additionally,patents allow for the disclosure of scientific progresswith added intellectual property protection.Thepatent activity in the space represents thematuration of the global fermentation value chainacross universities,institutes,and companies of allsizes.The progress in c

317、ompany innovation,whileoften a lagging indicator of investment return,can bea leading indicator of product development andpending entrance to the market.Following innovation and scaleup,a remaining hurdleto the marketplace is regulatory approval forfermentation-derived proteins and fats.Globally,sev

318、eral ingredients were approved or greenlit in thispast year.U.S.FDA issued a letter indicating it had noquestions regarding a submission from TheEVERY Company demonstrating that thecompanys egg white protein produced by K.phaffii is generally recognized as safe(GRAS).ReMilk Ltd.received a no-questio

319、ns letter fromFDA for their submission demonstrating that-lactoglobulin protein produced in K.phaffii isGRAS.Several fermentation-derived ingredients forfood use are submitted for GRAS notification andare pending FDA response,potentially in 2024.Examples include Mycotechnologys pea proteinfermented

320、by shiitake mycelium,Ooblisbrazzein sweet protein from K.phaffii,ImaginDairys-lactoglobulin from A.oryzae,and the Better Meat Co.s mycelial biomassfrom N.crassa.Additional information on safety and potentialregulatory progress comes from peer-reviewedtoxicology studies.C.necator,a bacteria capable o

321、f fixingatmospheric gasses for metabolism,has beenshown to have no adverse toxicological effectsupon consumption up to 3g/kg of body weightper day,the highest tested dietary consumption.This paves the way for food formulations with C.necator,which has a superior protein content,nutritious amino acid

322、 profile,and betterdigestibility than many common andanimal-derived protein sources.The Protein Brewery led a published safetyassessment of the filamentous,biomassprotein-producing fungal strain Rhizomucorpusillus CBS 143028,demonstrating safety forits pasteurized end product.Impossible Foods led a

323、study characterizing thesafety of precision fermentation leghemoglobin.These peer-reviewed studies demonstrate themultipronged approach to ascertaining the safety offermentation-derived products.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy64Figure 18:Patent landscape:Nu

324、mber of patents,by statusSource:GFI analysis of patent landscape from The Lens-https:/www.lens.org.The patent landscape includes alternative protein companies focused on biomass and precision fermentation who are included in the GFIcompany database.It does not include larger diversified corporations

325、.Company names and legal filing company names often differ,so thesewere manually adjusted if available.Unique patents were filtered by application number and jurisdiction to provide total patents acrossjurisdictions.Thus,some unique patents will have additional counts across jurisdictions.Note that

326、applicant jurisdictions represent the filinglocation for protection,not where the intellectual property was developed.Patents were further downselected for a specific focus on food andenabling technologies(e.g.,bioreactor design),and by further removing patents strongly associated with biofuels/bioi

327、ndustrials,healthcare,cosmetics,textiles,and animal feed applications.You can learn more about many of these companies in the GFI company database.Are wemissing something?Let us know by filling out our company database edits form or contact us at corporategfi.org.2023 State of the Industry Report/Fe

328、rmentation:meat,seafood,eggs,and dairy65Figure 19:Patent applications by jurisdiction(2021-2023)Source:GFI analysis of patent landscape from The Lens-https:/www.lens.org.2023 State of the Industry Report/Fermentation:meat,seafood,eggs,and dairy66Table 6:Number of patents by company(past 36 months)89

329、 The Every Company13 Impossible Foods Inc4 Aquacultured Foods Inc85 Solar Foods13 New Culture4 Bond Pet Foods82 Natures Fynd12 Melt&Marble4 Helaina68 Perfect Day11 Enough(3f Bio)4 Smallfood Inc53 Corbion11 Nourish Ingredients3 Koralo52 Mycotechnology11 Revyve(Fumi Ingredients)3 Zero Acre Farms47 Air

330、 Protein11 Yeap Ltd2 Changing Biotech39 Marlow Foods(Quorn)10 Triton Algae Innovations2 Eighth Day Foods35 Algama9 Infinite Roots(Mushlabs)2 Eniferbio32 Geltor Inc8 Arkeon Gmbh2 Equii(Cella Farms)31 The Protein Brewery8 Brevel2 Fybraworks Foods28 Calysta8 Paleo B.V.2 Nobell Foods24 Noblegen8 Planeta

331、rians(Usarium Inc)2 Prairie Aquatech(Houdek)22 C16 Biosciences8 Standing Ovation2 Wild Earth Inc22 Mycorena7 Ecovative Design Llc1 All G Foods21 Meati Foods7 Kinoko-Tech1 Better Dairy20 Superbrewed Food,Inc.7 Motif Foodworks1 Change Foods19 Formo Bio Gmbh7 Turtletree1 Imagindairy18 Nextferm6 Deep Br

332、anch Biotechnology Ltd.1 Innomy18 Prime Roots(Terramino Inc)6 Yemoja1 Kynda Biotech Gmbh14 Checkerspot Inc5 Shiru,Inc.1 Nosh.Bio14 Sophies Bionutrients Pte Ltd5 The Better Meat Co.1 Phyx44Source:GFI analysis of patent landscape from The Lens-https:/www.lens.org.2023 State of the Industry Report/Ferm

333、entation:meat,seafood,eggs,and dairy67Governmentand regulationGovernment and regulationOverviewGovernments around the world increased support forfermentation technology in 2023,recognizing thattransitioning toward these new technologies couldsimultaneously create jobs,reduce emissions,andfeed more people with fewer resources.Governments increasingly invested in fermentationas an economic driver,es