The global plant-derived proteins market is witnessing an unprecedented surge, projected to reach a value of US$ 105 million by the end of 2022, and anticipated to soar past US$ 184.3 million by 2029. This remarkable growth, boasting a Compound Annual Growth Rate (CAGR) of 8.4% from 2022 to 2029, underscores a burgeoning demand and expansive market landscape.
Driving this impressive expansion are pioneering research and development efforts, with countries such as India, China, the United States, and the United Kingdom leading the charge in innovation. As the market expands, companies worldwide are seizing the opportunity to meet the growing demand for plant-derived protein products.
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“As global awareness around health and sustainability grows, so does the demand for plant-derived proteins,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “This burgeoning market presents an exciting opportunity for businesses and investors seeking to tap into the burgeoning landscape of alternative protein sources.”
The versatility of plant-derived proteins across various industries, including food and beverage, pharmaceuticals, and cosmetics, contributes significantly to this exponential growth. Notably, consumers are increasingly seeking environmentally friendly and ethically sourced alternatives, which is propelling the adoption of plant-based proteins.
With ongoing advancements in technology and manufacturing processes, coupled with increased consumer acceptance and governmental support, the trajectory for plant-derived proteins remains notably bullish.
Key Takeaways of Plant Derived Proteins Market Study:
- The production of therapeutic proteins for disease treatment will gain traction, contributing more than 70% to global market revenues in 2029.
- Owing to low setup cost, transient plant expression systems (carrot or tobacco) remains preferred among protein manufacturers.
- Regenerative medicine-therapeutic agents continue to be the leading application area, on the back of their relatively cheap price point.
- Biopharmaceutical companies represent the leading consumer industry of plant derived proteins, with over 50% share in market throughout the forecast period.
- North America continues to lead, whereas East Asia holds the promise of lucrative opportunities, owing to several healthcare programs.
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Acquisition Key Strategy Followed by Leading Market Players:
Leading manufacturers in the plant derived proteins market are focusing on regional acquisition strategy to enhance their product portfolio and expand their regional presence. For instance, in 2017, Denka buys pharming pioneer Icon Genetics, which is a leading manufacturers of therapeutic proteins in plants. In 2014, Kentucky BioProcessing, Inc. was acquired by Reynolds American Inc., which is a wholly owned subsidiary of tobacco manufacturing company British American Tobacco plc.
Key Companies Profiled:
- Amgen Inc
- Abbott Laboratories
- AstraZeneca
- Merck KGaA
- Baxter International
- Boehringer Ingelheim
- Chugai Pharmaceutical
- Diasome Pharmaceuticals
- Eli Lilly & Company
- Protalix Biotherapeutic
- F. Hoffmann-La Roche
- Generex Biotechnology
Plant Derived Proteins Market by Category:
Plant:
- Tobacco
- Rice
- Carrot
- Barley
- Others
Protein:
- Industrial Proteins& Enzymes
- Therapeutic Proteins
- Blood Proteins
- Cell Culture Functional Proteins
- Others
Platform:
- In-vitro Cell Culture Systems
- Whole Plants
- Others
Application:
- Regenerative Medicine-Therapeutic Agents
- Regenerative Medicine-Functional Material
- Cell Culture Application
- Others
End User:
- Biopharmaceutical Companies
- Academic & Research Institutes
- Contract Research Organization (CROs)
- Contract Manufacturing Organization (CMOs)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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