Leading manufacturers in the plant derived proteins market are focusing on regional acquisition strategy to enhance their product portfolio and expand their regional presence.
The Plant Derived Proteins Market is projected to generate US$105 million by the end of 2022. Sales in the global market for plant-derived proteins are projected to hit US$ 184.3 million by 2029, rising at a spectacular CAGR of 8.4%, according to a comprehensive report by Future Market Insights (FMI).
The market for plant-derived proteins is still expanding due to the development and marketing of biopharmaceutical proteins with improved therapeutic efficacy. According to a recent Future Market Insights (FMI) analysis, the market for plant-derived proteins will grow significantly by 2029, reaching a value of over US$ 185 million.
The industry's major focus will continue to be the production of the three main therapeutic protein classes, which include antibodies, vaccines, and replacement proteins like albumin, insulin, growth factors, and cytokines. Compared to microbial and mammalian cells, proteins generated from plants are recognised as being more natural and environmentally sustainable. Due to these advantages, there has been a rise in the demand for these proteins from biopharmaceutical businesses as raw materials for the manufacture of therapeutic drugs, providing a significant opportunity for the expansion of the market for plant-derived proteins.
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Key Takeaways of Plant Derived Proteins Market Study
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.
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Interested in more insights on the build-up of plant derived proteins market?
Plant derived proteins market, a new study from future market insights, opines on the production of plant derived proteins from 2014 – 2018 and presents demand projections from 2019 – 2029 on the basis of; plant type (tobacco, carrot, rice, barley and others), protein type (industrial proteins & enzymes, therapeutic proteins cell culture functional proteins and others), application (regenerative medicine-therapeutic agents, regenerative medicine-functional material, cell culture application and others), platform (in-vitro culture system, whole plants and others) and end user (biopharmaceutical companies, academic & research institutes, contract research organization (CROS), contract manufacturing organization (CMOS)) across seven prominent regions.
The global plant derived proteins market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Key Companies Profiled
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Plant Derived Proteins Market by Category
Plant
Protein
Platform
Application
End User
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 14, 2023