Demand for Plant Derived Proteins to Soar Steadily Through 2029; Biopharmaceutical Applications Hold 50% Market Share: Future Market Insights
Major plant derived proteins manufacturers are focusing on regional acquisitions to expand their product portfolios and regional presence in untapped markets.
DUBAI, UAE / ACCESSWIRE / February 27, 2020 / The global plant derived proteins market will reach a valuation of US$ 185 Mn by 2029, witnessing a steady growth outlook during the forecast period (2019 – 2029). According to a new study by Future Market Insights (FMI), the market for plant derived proteins is largely influenced by tech transformations and R&D efforts towards recombinant proteins in the global healthcare industry.
“Rising demand for passive immunization has led to the development of new plant based platforms, which could transform and express recombinant therapeutic vaccines and antibodies more effectively with improved quality, yield, and stability,” reveals the FMI report.
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Key Research Findings of FMI’s Plant Derived Proteins Market Study
- Use of therapeutic plant based proteins in disease treatment will account for over 70% of overall market revenues in 2029.
- Transient plant expression systems continue as preferred plant sources among protein manufacturers with low-cost setups.
- Biopharmaceutical companies are primary end users of plant based proteins, holding 50% market share.
- Regenerative medicine -therapeutic agents continue to be a major application area, with a relatively cheap price point.
- North America remains the leading market; Asia Pacific turning highly lucrative.
Key Growth Drivers – Plant Derived Proteins Market
- Production and commercialization of biopharma proteins with better therapeutic results remain key growth drivers.
- Natural and eco-friendly attributes of plant based proteins would push their rate of consumption.
- Immunomodulatory characteristics of plant derived proteins are gaining traction in healthcare, fueling market growth.
Key Impediments – Plant Derived Proteins Market
- Stringent regulations regarding approval of plant based technology platforms restrict their commercialization.
- Regulatory restrictions on tobacco cultivation continue to limit growth opportunities in market.
Explore the complete plant derived proteins market report with 111 illustrative figures, 63 data tables, and the table of contents. Also find a detailed market segmentation on https://www.futuremarketinsights.com/reports/sample/rep-gb-11038
Competition Structure Analysis – Plant Derived Proteins Market
The competition landscape of plant derived proteins market remains moderately consolidated, with a major market share being accounted by Merck KGaA and Protalix Biotherapeutic. Key producers are also pushing for strategic acquisition of smaller regional businesses in the industry to expand their regional presence and bolster existing portfolios. This also involves exploring new sources of plant based proteins such as chia and hemp.
Some of the major players in the plant derived proteins market include, but are not limited to Cargill, Glanbia, ADM, Denka, Kentucky BioProcessing Inc. among others.
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About the Report
This report offers global, regional, and national level analysis on the latest trends in the industry influencing the plant derived proteins market. The study provides actionable insights on the plant derived proteins market on the basis of plant type (tobacco, rice, carrot, barley, and others), protein (industrial proteins & enzymes, therapeutic proteins, blood proteins, cell culture functional proteins, and others), platform (in-vitro cell culture systems, whole plants, and others), application (regenerative medicine – therapeutic agents, regenerative medicine – functional material, cell culture application, and others), end user (biopharmaceutical companies, academic & research institutes, contract research organization, and contract manufacturing organizations)across 30 countries spanning seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights
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