From 2023 to 2033, the Casein Peptone Market is estimated to grow at a 4.2% CAGR, from US$ 395.6 million in 2023 to US$ 595.7 million in 2033.
The market for Casein Peptone is rapidly expanding because to its numerous applications in industries such as food, medicine, and biotechnology. Casein peptone is highly sought after for microbial culture media and protein production due to its high concentration of amino acids and necessary components. The market is growing due to increased R&D activities and rising demand for high-quality cultural items.
The pharmaceutical business requires culture media to identify and develop microorganisms for use in various scientific experiments. Because it is required for the production of cultural media, casein peptone is in high demand. This tendency is expected to continue, especially as the pharmaceutical industry extends into more profitable markets.
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The cosmetics business frequently tests items for potential microbiological contamination in order to prevent loss and ensure only high-quality products reach consumers. For this, cultural media solutions are required. Because casein peptone is necessary for the development of culture media solutions, the market is experiencing a boom in demand.
Because casein peptone is necessary in the preparation of diagnostic media, the diagnostic sector’s expansion will enhance the market in the coming years. According to FMI, the global casein peptone market is predicted to grow at a CAGR of more than 4% from 2020 to 2030.
The outbreak of COVID-19 pandemic has caused significant disruptions in the market earlier this year. However, the market is forecast to recover steadily and exhibit significant growth in the coming years.
FMI offers an exhaustive overview of the casein peptone market, its potential, growth drivers, and restraints.
Some of the key takeaways from the report are highlighted below-
- The increase in requirement for casein peptone in diagnostic media production application is fuelling the growth of the casein peptone market.
- The use of casein peptone is set to surge in response to increasing biomass production in the coming years
- Presently East Asia is leading in the global casein peptone market and is anticipated to sustain its position during the forecast period
- Europe will continue exhibiting high demand for casein peptone especially in the pharmaceutical sector
- Growing biochemical industry is expected to fuel the demand for casein peptone
“With the rapidly expanding pharmaceutical industry the demand for casein peptone is set to rise significantly. The demand is expected to surge further as the healthcare sector increases focus on vaccine production to fight COVID-19. Research and development initiatives undertaken to discover cost-effective source for peptone is forecast to create growth opportunities for the market in the coming years,” said an FMI analyst.
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COVID-19 Impact Analysis
Manufacturing units have been significantly affected due to the unprecedented COVID-19 outbreak. Disruptions witnessed during the extended period of lockdown has caused serious damages to several businesses. Casein peptone being costly, also witnessed decelerating demand during this period. Furthermore, factors such as closed manufacturing units, unavailability of labours, and others are expected to create hindrances for the market.
Contrary to this, the increasing number of the vaccination processes initiated by several countries such as Russia, India, China, and others in the second half of the current year has worked in favour of the casein peptone market. The casein peptone market is anticipated to recover steadily in the coming years creating unlimited opportunities to be explored by the key market players.
Who is Winning?
The casein peptone market is forecast to register impressive growth due to the rising demand from the industries such as pharmaceutical, cosmetics, and others. In order to capitalize on prevalent opportunities, the key market players are focusing on launching of new and extensive ranges of products.
For instance, Apollo Scientific Ltd. has launched their new ranges of products such as alpha-casein from bovine milk, peptone from casein (pancreatic digest), and others to target broad range of applications such as enzyme production, diagnostic media production, and others in the current year.
Thermo Fisher Scientific Inc. has launched their new Acidicase™ Peptone, Difco Tryptone Peptone which is an animal origin (AO) pancreatic digest of casein, and other casein peptone products in the recent year.
More Valuable Insights on Casein Peptone Market
Key Segments
Application
- Diagnostic Media Production
- Industrial Fermentation
- Biomass Production
- Enzyme Production
- Vaccine Production
- Others
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
- Japan
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