Yahoo Finance Molecular Farming Market Size Projected to Reach USD 1415.8 Million by 2034, at 11.0% CAGR Rise: Prophecy Market Insights
“Molecular Farming Market” from 2024-2034 with covered segments By Type (Plant-based, and Animal-based), By Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Dairy, and Others), and By Regional Forecast, 2024-2034), which provides the perfect mix of market strategies, and industrial expertise with new cutting-edge technology to give the best experience.
Covina, June 27, 2024 (GLOBE NEWSWIRE) -- According to a recent research study, the global molecular farming market size was valued at USD 545.6 Million in 2024 and is expected to reach USD 1415.8 Million by 2034, growing at a CAGR of 11.0%.
Molecular Farming Market Overview
Molecular farming is the technique of creating proteins or other metabolites from plants that are typically utilized in agriculture and are helpful for industry or medicine. A wide variety of toxins and infection-free animal proteins can be synthesized by crop plants. Crop plants generate large amounts of biomass for comparatively little money and require few facilities. The potential new source of molecular pharmaceuticals, such as growth factors, enzymes, plasma proteins, vaccines, and recombinant antibodies, whose molecular uses are understood, is molecular farming. Chemicals used in medicine have long been extracted from plants.
Proteins, antibodies, vaccines, enzymes, and other biomolecules that would otherwise be difficult, costly, or unethical to extract from plants and animals as bioreactors or factories are produced by molecular farming. Molecular farming has the potential to completely transform the manufacturing, medical, agricultural, and environmental cleaning industries. The potential for lower production costs could mean doing away with the costly purifying techniques, machinery, and infrastructure related to molecular agriculture. The primary factors propelling the molecular farming market are the expanding need for biopharmaceuticals, the swift advancements in genetic engineering technologies, and the rising spending on research and development.
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Competitive Landscape:
The molecular farming market is characterized by rapid growth, technological innovation, and fierce competition. Companies are expanding their global presence, focusing on sustainability, and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
LFB Biotechnologies SA
Pharming Group NV
Pfizer
Medicargo
Mapp Biopharmaceutical
Avaxin Biologics
Miruku
Bright Biotech
Mozza
Nobell Foods
ORF Genetics
Tiamat Sciences
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Analyst View:
It is an inexpensive method for producing proteins and metabolites from plants for use in a variety of industries, such as agriculture and medicine, is molecular farming. The biopharmaceutical business has experienced rapid growth due to factors such as the increased demand for these products, advancements in genetic engineering, and rising costs associated with research and development. The market is divided into segments according to type, application, and geography; North America and the Asia Pacific area are the most rapidly growing due to government restrictions, as well as an abundance of resources and supportive laws.
Market Dynamics:
Drivers:
Growing world population and need for wholesome food
The two main factors propelling the molecular farming industry are the growing need for wholesome food and the world population growth. One promising, economical, and ecologically friendly method for creating essential proteins, enzymes, antibodies, and biomolecules is molecular farming. Once again, the need for cutting-edge agricultural technology like molecular farming is increasing due to the growth in chronic diseases and malnutrition, especially in emerging nations.
Inflated interest in biopharmaceuticals
Therapeutic proteins and vaccines must be of excellent quality and reasonably priced, according to the pharmaceutical industry. The biopharmaceutical sector is expanding as a result of novel biologics and chronic illnesses. Because plant-based molecular farming is scalable and inexpensive, regulatory bodies are changing laws to support it. Collaboration and funding increase the use of biopharmaceuticals.
Market Trends:
Research & Development input
The study and advancement of the crops have been pursued, leading to significant advancements in molecular farming. Scientists are always trying to find new plant performance systems, boost protein yields, and enhance production procedures. As a result, cooperation between research centers companies, and reputable academic institutions is crucial for advancing knowledge and skills.
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Segmentation:
Molecular farming market is segmented based on type, application, and region.
Type Insights
The segment is distributed in terms of plant-based and animal-based. Growing specific compounds in plants in an eco-friendly and scalable manner is known as "plant-based molecular farming." Tobacco, rice, lucerne, and other plants are genetically modified to produce desired compounds. When it comes to animal-based farming, involves using creatures such as insects or mammals.
Application Insights
The pharmaceutical sector has the biggest market, mostly because of medicinal proteins, antibodies, and vaccines. Applications for nutraceuticals include the molecular farming of health-promoting substances like vitamins, enzymes, and antioxidants. Cosmetics only accept organic and environmentally friendly items; molecular farming helps provide the raw components needed to make skincare products. First and foremost, there is the issue of dairy substitutes made through molecular farming, which are plant- or animal-based milk proteins created in response to contemporary dietary preferences and ethical requirements. The synthesis of biomaterials for medical devices and bioplastics from plant sources is further uses.
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Molecular Farming Market: Report Scope
Report Attributes | Details |
Market value in 2024 | USD 545.6 Million |
Market value in 2034 | USD 1415.8 Million |
CAGR | 11.0% from 2024 – 2034 |
Base year | 2023 |
Historical data | 2019-2022 |
Forecast period | 2024-2034 |
Recent Development:
In May 2024, Plant molecular farming was employed by NewMoo to create dairy substitutes. A food technology business located in Israel is producing casein proteins through plant molecular farming, which will enable them to make plant-based cheese and dairy substitutes.
In April 2024, "Milky Tuber Tale": Potatoes can create dairy proteins, due to a molecular farming firm. According to a report by AgFunderNews, an Israeli molecular farming firm that produces dairy proteins in potatoes has come out of stealth with pre-seed funding from The Kitchen FoodTech Hub (TKH) by Strauss Group and the Israeli Innovation Authority.
Regional Insights
North America: There is significant growth in the molecular agriculture sector in the region. The finance, rules, and regulations pertaining to genetically modified organisms and plant-based agriculture from the government will have a significant impact on the expansion of this business. Given the current emphasis on sustainability, plant-based molecular farming is an extremely sustainable technique.
Asia Pacific: The region is quickly joining the growing molecular farming business because of its abundant agricultural resources and highly diverse environment. Through partnerships between the public and private sectors, increased investment in technology research and related infrastructure, along with supportive legislation, drove market expansion.
Browse Detail Report on "Molecular Farming Market Size, Share, By Type (Plant-based, and Animal-based), By Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Dairy, and Others), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America) - Trends, Analysis and Forecast till 2034" with complete TOC @ https://www.prophecymarketinsights.com/market_insight/molecular-farming-market-5317
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