Synthetic Protein Market Size, Share, Growth, and Industry Growth by Type (Glycoprotein, Mucoprotein, Nucleoprotein, Lipoprotein, Phosphprotein, Metaoprotein, and Flavoprotein) By Application (Food, Medicine, Industrial, and Other), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Synthetic Protein Market Report Overview

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The global synthetic protein market size was USD 191.1 million in 2022 and is projected to touch USD 579.56 million by 2031, at a CAGR of 13.1% during the forecast period.

Synthetic proteins can be generated which are free of biological constraints. It is a combination of solid-phase peptide synthesis and chemo-selective ligation reactions. The chemical reaction is used to develop new chemical methods and apply them to challenging protein targets.

The growth of the market is attributed to the growing number of venture investments and the increase in the inclination towards veganism. High nutritional value and the presence of alternative protein companies are predicted to fuel market growth. The rise in research and development (R&D) activities in developing new products and increased innovations in food technology are projected to expand market growth. Increased government regulations to support synthetic protein products are anticipated to accelerate market growth in the upcoming years. On the contrary, the high cost of the product and significant use of animal-derived products are estimated to obstruct market progress over the forecast period. The presence of artificial colors and ingredients is anticipated to restrict synthetic protein market growth.

COVID-19 Impact: Increased Awareness about Immunity and Healthy Diet to Propel Market Progress

The global COVID-19 pandemic has been unprecedented and staggering, with the synthetic protein experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic boosted the synthetic protein market. Increased awareness about immunity and high-protein diet to fight against virus foster market growth. From distributing and manufacturing point of view market witnessed unprecedented demand for consumers and manufacturers. During the pandemic period, high demand for healthy & nutritious food and increased investment by key players to drive market growth. Government relaxation for food products helped the market to grow.

LATEST TRENDS

"High Demand for Proteins in Daily Diet to Surge Market Growth"

Protein is found in bone, muscle, hair, skin, and virtually every other body tissue or part. Protein mix with the enzymes and power several chemical reactions. High demand for protein in daily diet is anticipated to foster market growth. Protein helps to increase muscle mass and strength, and good for bones is predicted to drive market growth. Increased awareness about the importance of a protein-rich diet coupled with rapid economic growth. Also, the wide availability of raw materials is predicted to surge market growth. Rapid spending capacity and the busy lifestyle of the population are anticipated to fuel market growth in the forthcoming years. Growing chemical sector development and expansion of plant-based product manufactures is estimated to drive market growth.

Synthetic Protein Market Segmentation

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• By Type

Based on type, the market is divided into glycoprotein, lipoprotein, phosphprotein, mucoprotein, nucleoprotein, metaoprotein, and flavoprotein.

Glycoprotein is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into food, medicine, industrial, and other.

Food is expected to be the leading part of application segmentation.

DRIVING FACTORS

"Several Advantages of Synthetic Protein to Foster Market Progress"

Synthetic protein has several advantages, such as easy to consume and effortless to digest. The product can be stored in small protein shake bottles. It is in liquid form, which is very convenient for digestion. The protein is extracted from natural protein, and they are not steroids. The product helps to control blood pressure, boost metabolism, and strengthen muscles & bones. These advantages of supplementary drinks are expected to expand market growth. Further, high demand for convenient and easily availed protein drinks is anticipated to surge the synthetic protein market progress in the forthcoming years.

"Rise in Environmental Concern and Growth in Food & Beverage Sector to Surge Market Progress"

Growing environmental concerns and an increased number of vegan population are anticipated to propel market growth. A high focus on producing protein by sustainable method and a growing need for healthy & nutritional products is estimated to foster market growth. Wide usage of microbial protein in health supplements is projected to surge market growth. The product is used in food & beverage, medicine, animal feed, and the cosmetic sector. Such extensive use of the product by end-user is anticipated to accelerate market growth. Rapid technology advancements coupled with development in the food industry are predicted to upsurge in market growth. A rise in demand for clean-label products coupled with high demand to reduce diet-related diseases such as malnutrition is anticipated to foster synthetic protein market growth in the forthcoming years. An increase in the millennial population and growing venture investment are predicted to fuel product adoption.

RESTRAINING FACTORS 

"High Cost and Presence of Artificial Substitutes to Hamper Market Growth "

The high cost of the product and effective use of animal-derived products are estimated to obstruct market progress over the forecast period. The presence of artificial colors and ingredients is anticipated to restrict the market growth.

Synthetic Protein Market Regional Insights

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"Growing Inclination towards Veganism and High Protein Diet in North America to Drive Market Share "

North America is estimated to hold the largest synthetic protein market owing to an increase in inclination towards veganism. High nutritional value and the presence of alternative protein companies are predicted to fuel market growth. The rise in research and development (R&D) activities in developing new products and increased innovations in food technology are projected to expand market growth. Increased government regulations to support synthetic protein products are anticipated to accelerate market growth in the upcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• AgriProtein (South Africa)
• Aspire Food Group (U.S.)
• Enterra Feed Corporation (Canada)
• EntoCube (Finalnd)
• Entomo Farms (Canada)
• Global Bugs Asia Co., Ltd. (Thailand)
• Proti-Farm Holding NV (Netherlands)
• Protix (Netherlands)
• Tiny Farms (U.S.)
• Ynsect (France)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.