Plant Derived Proteins Market Top Players, Geography and Global Forecast 2029
Production and commercialization of biopharmaceutical proteins with higher therapeutic efficacy have formed a progressive landscape that continues to push the growth of plant derived proteins market. A new Future Market Insights (FMI) report forecasts that the plant derived proteins market will experience a major upturn towards 2029, reaching a value of around US$ 185 Mn. Production of three main therapeutic protein classes, including antibodies, vaccines, and replacement proteins such as albumin, insulin, growth factors, and cytokines will remain industry’s prime focus area. Plant derived proteins are recognized as natural and environmentally-sustainable than microbial and mammalian cells. Owing to these benefits, there has been an increasing demand for such proteins from biopharmaceutical companies, as raw materials for therapeutic drug production, creating an absolute opportunity for growth of the plant derived proteins market.
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.
“Rising demand for passive immunization have led to development of new plant based platforms, which could transform and express recombinant therapeutic vaccines and antibodies more effectively with increased stability, high yield, and high quality,” says the FMI study.
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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.
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.
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