Dublin, May 19, 2022 (GLOBE NEWSWIRE) — The “Solar-Powered Microbes Market – A Global and Regional Analysis: Focus on Type, End-Use Industry, and Country-Wise Analysis” report has been added to ResearchAndMarkets.com’s offering.
The use of solar-powered microbes in the food and feed industry is expected to grow significantly in the near future. The demand for solar-powered microbes from end-use industries, namely, wine, bakery, dairy, and probiotics, is increasing rapidly. Also, various government policies supporting solar energy-based industrial production of food in developing countries is a major factor boosting the market growth.
Market Lifecycle Stage
The adoption of solar-powered microbes in the food and feed industry are still in the developing phase. Increased research and development activities are underway to develop solar-powered microbes technology, which will increase the technology adoption by feed, food, and microbes producers.
Increasing investments in the research and development of solar-powered microbes is one of the major opportunities in the solar-powered microbes market. Moreover, solar-powered microbes are highly nutritious compared to conventional microbes.
Globally, governments are more focused on renewable energy sources to minimize pollution and the cost structure of services and products. Solar energy is the most rapidly expanding and cost-effective source of electricity, especially in the U.S. Over three million photovoltaic (PV) installations have been established in the U.S., with one million being installed in 2019.
With a decrease in the installation cost of solar energy systems, more industries are opting for green energy. This decrease in cost is due to various policies and schemes started by the government in the country, which will expect to drive the demand for the production of solar-powered microbes in the coming years.
With an increased demand for nutritious food and feed, the shift to the eco-friendly production process expects to drive the solar-powered microbes market. This implies that solar-powered microbes can be a great alternative to conventional microbes. The transition may be more prominent in North America and Europe regions.
End-Use Industry (Food, Feed)
The solar-powered microbes market in the application segment is expected to be dominated by the food industry. This is due to solar-powered microbes being highly nutritious and their property to be customized and processed to derive various products.
Type (Bacteria, Yeast, Molds)
The yeast solar-powered microbes segment is expected to dominate the product segment of the solar-powered microbes market. This dominance is due to the wide applications of yeast solar-powered microbes. Yeast is consumed in various end-use industries, including bakery and confectionery, dairy, fruits and vegetables, beverages, and meat.
Europe is an early adopter for the solar-powered microbes market due to increasing research and development advancements and supporting government regulations in the Europe region. Europe is an attractive region for the solar-powered microbes market because of consumer awareness for nutritious food.
Impact of COVID-19
The outbreak of the COVID-19 pandemic delayed several solar panel installation projects. The government policies and schemes were also on hold due to significant restrictions. In 2020, the pandemic showed a downturn in solar investment and postponement and cancellations of major panel installations.
However, the growth of nutritious food products increased due to the pandemic as end consumers started demanding healthy products to enhance their immunity strength. Thus, further boosting the demand for solar-powered microbes will increase in the near future.