The global Plant Derived Proteins Market is on a significant growth trajectory, estimated to reach USD 184.3 Million by 2029, up from USD 105 Million in 2022. This robust expansion, projected at an 8.4% Compound Annual Growth Rate (CAGR) from 2022 to 2029, is fueled by increasing research and development activities across key regions including India, China, the USA, and the UK.
Market Dynamics & Growth Drivers
The demand for plant-derived proteins is surging due to the rising prevalence of chronic diseases such as diabetes, hepatitis, and cancer, which create a strong need for advanced therapeutics. Traditional production platforms like microbial and mammalian cells often face limitations in cost-effectiveness and scalability. This has prompted numerous biopharmaceutical companies, including industry leaders like Abbott Laboratories, AstraZeneca, Merck KGaA, and Novo Nordisk, alongside innovators such as Protalix BioTherapeutics, to shift focus towards sustainable, animal-free plant-based alternatives.
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Key Segment Performance
The carrot segment is anticipated to exhibit the fastest growth within the market, accounting for over 46.2% of plant-derived protein sales by 2022. Plant-derived scaffold proteins are also gaining traction for their role in regenerative medicine and drug screening. Therapeutic proteins, including monoclonal antibodies and vaccines, are expected to account for over 70% of plant-derived protein sales, driven by their efficiency in treating various diseases. Biopharmaceutical companies remain the leading end-users, spurred by government support for R&D and the inherent benefits of plant-based biologics.
Recent Market Fluctuations
Despite overall growth, the market experienced a slight dip in H1 2022, dropping by 102 Basis Point Share (BPS) compared to H1 2021. This was primarily attributed to the emergence of “free-form” dietary trends, particularly the increased consumer preference for gluten and soy-free food products, which impacted some plant-derived protein applications.
Global Regional Highlights
Regionally, the USA is projected to lead North America’s growth, with companies like iBio, Inc. focusing on novel plant-based biologics. India is set to be the most lucrative market in South Asia, driven by a high diabetes burden and the demand for recombinant proteins like insulin. In Europe, the UK is anticipated for robust growth, fueled by the rising demand for cosmetic products utilizing plant-derived proteins. China maintains a significant presence in East Asia, also serving as a key raw material provider.
Market Comparison & Outlook
The plant-derived proteins market, while representing a niche (approximately 0.2% of the global animal and plant-based protein market by 2029), offers a sustainable and scalable alternative to traditional protein sources. Its growth is distinct from the broader protein market, being driven more by pharmaceutical and cosmetic applications rather than general food consumption trends. This specialized focus, coupled with the inherent advantages of plant expression systems (eukaryotic protein modification, high scalability, low cost), positions it for sustained innovation.
Industry Headwinds
Challenges include stringent regulatory guidelines from bodies like the EMA and FDA, which can hamper market entry and product sales. Bans on tobacco cultivation in certain regions and a rising inclination towards biosimilar drugs also pose restraints. Concerns over potential allergic reactions to genetically engineered plant-derived drugs further necessitate careful navigation.
Competitive Landscape & Future
Key players like Amgen Inc., Abbott Laboratories, AstraZeneca, Merck KGaA, Baxter International, Boehringer Ingelheim, Chugai Pharmaceutical, Diasome Pharmaceuticals, Eli Lilly & Company, Protalix BioTherapeutics, F. Hoffmann-La Roche, Generex Biotechnology, GeneScience Pharmaceuticals, Group Biogen Idec Inc, Hualan Biological Engineering, Johnson & Johnson, Kyowa Hakko Kirin, and Novo Nordisk are actively pursuing expansion strategies through new product launches, approvals, collaborations, mergers, and acquisitions to gain a competitive edge in this evolving market.
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