Global Plant Derived Proteins Market to Reach USD 184.3 Million by 2029 at a 8.4% of CAGR

Plant-Derived Proteins Market

The global Plant Derived Proteins Market is projected to grow at a CAGR of 8.4% from 2022 to 2029, reaching USD 184.3 Million by the end of the forecast period. In 2022, the market is estimated to be worth USD 105 Million. Growing research and development initiatives aimed at producing more effective drugs and biologics, particularly in India, China, the USA, and the UK, are significantly driving this market’s expansion.

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Key Market Drivers:

The increasing demand for plant-based proteins due to health benefits, sustainability, and consumer preference for natural ingredients is boosting market growth. The rising prevalence of lifestyle diseases is driving health-conscious consumers towards plant-derived proteins as a safe and effective alternative. Additionally, innovative applications in nutraceuticals, pharmaceuticals, and food industries are expanding the market’s reach.

Market Trends and Applications:

The carrot segment is expected to lead the market, accounting for over 46.2% of plant-derived protein sales by 2022. Plant-derived proteins are gaining popularity in the pharmaceutical and nutraceutical sectors due to their high nutritional value and therapeutic properties. The market is also witnessing increased investment in R&D for innovative protein extraction technologies to improve product efficacy and bioavailability.

Key Takeaways:

• The global plant-derived proteins market is projected to grow at a CAGR of 8.4% from 2022 to 2029, reaching USD 184.3 Million.
• The carrot segment is expected to account for 46.2% of sales in 2022, leading the market.
• Growing R&D activities for drug development and the rising popularity of plant-based proteins are driving market growth.
• The market holds approximately 0.2% share in the global animal and plant-based protein market through 2029.
• Intense competition and strategic collaborations are shaping the competitive landscape, with a focus on product innovation and market expansion.

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Competitive Landscape:

The plant-derived proteins market is highly competitive, with key players focusing on product innovation, strategic partnerships, and expansion into emerging markets. The industry is also seeing a rise in startups and niche companies developing specialized protein products to cater to specific dietary needs and health conditions.

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; GeneScience Pharmaceuticals; Group Biogen Idec Inc; Hualan Biological Engineering; Johnson & Johnson; Kyowa Hakko Kirin; Novo Nordisk

Plant Derived Proteins Market by Category

By Plant:

• Tobacco
• Rice
• Carrot
• Barley
• Others

By Protein:

• Industrial Proteins& Enzymes
• Therapeutic Proteins
• Blood Proteins
• Cell Culture Functional Proteins
• Others

By Platform:

• In-vitro Cell Culture Systems
• Whole Plants
• Others

By Application:

• Regenerative Medicine-Therapeutic Agents
• Regenerative Medicine-Functional Material
• Cell Culture Application
• Others

By End User:

• Biopharmaceutical Companies
• Academic & Research Institutes
• Contract Research Organization (CROs)
• Contract Manufacturing Organization (CMOs)

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa (MEA)

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