Growth Factors Redefining the Plant-Based Proteins Industry By 2022 to 2029

BySanket Badgujar
Plant Derived Proteins Market

The growing desire for healthy, plant-based dietary options has significantly increased the Plant Derived Proteins Market in recent years. More environmentally concerned and health-sensitive consumers are switching to plant-based diets to lessen their carbon impact and improve overall wellbeing. Proteins produced from plants, such as those from soy, pea, rice, and hemp, have grown in popularity because they provide a number of nutritional advantages without being high in cholesterol or saturated fats.

As more people look for alternatives to animal-based proteins, this trend is further pushed by the emergence of veganism and flexitarian diets. The rising prevalence of allergies to dairy, other animal-based proteins, and lactose intolerance has also contributed to the surge in demand for goods using plant-derived proteins.

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By the end of 2022, the market for plant-derived proteins is anticipated to reach US$ 105 Million, and plant derived proteins market is projected to exceed US$ 184.3 Million, rising at a remarkable CAGR of 8.4% over the forecast period 2022 to 2029. Growing research and development initiatives, particularly in nations like India, China, the United States, and the United Kingdom, are anticipated to support market expansion.

Companies in the food and beverage industry are capitalizing on this growing trend by introducing an array of plant-based protein products, including meat substitutes, protein bars, beverages, and dairy alternatives. Research and development efforts are continually underway to enhance the taste, texture, and nutritional profile of these plant-based products, making them more appealing to a wider consumer base.

Government initiatives and supportive policies promoting sustainable agriculture and plant-based diets are also stimulating market growth. Moreover, the availability of plant-derived proteins at competitive prices compared to animal-based proteins is bolstering their adoption in both developed and developing economies.

Despite these positive developments, challenges persist. The plant-derived protein market faces competition from traditional animal-based protein sources and the emergence of alternative protein technologies, such as cell-based meats. Additionally, supply chain complexities and issues related to sourcing raw materials pose hurdles for industry players.

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.

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.

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:

  • 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)