According to a new study by Future Market Insights (FMI), the casein peptone market is forecast to grow exponentially driven by the increase in demand for production of microorganism biomass in larger volumes.
The pharmaceutical industry require culture media in order to identify and grow microorganisms that are used for various lab testing purposes. As casein peptone is required in the production of culture media, it is experiencing rise in demand. This trend will continue especially due to the expansion of the pharmaceutical industry across high potential markets.
In order to prevent loss and ensure only good quality products reach consumers, the cosmetics industry often checks products for potential microbial contamination. Culture media solutions are needed for this. Casein peptone is required for the production of culture media solutions, which is why the market is witnessing surge in demand.
As casein peptone is required in the production of diagnostic media too, the expansion of diagnostic sector will boost the market in the coming years. According to FMI, the global casein peptone market is expected to rise at over 4% CAGR during the forecast period from the year 2020 to 2030.
The outbreak of COVID-19 pandemic has caused significant disruptions in the market earlier this year. However, the market is forecast to recover steadily and exhibit significant growth in the coming years.
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FMI offers an exhaustive overview of the casein peptone market, its potential, growth drivers, and restraints.
Some of the key takeaways from the report are highlighted below-
- The increase in requirement for casein peptone in diagnostic media production application is fuelling the growth of the casein peptone market.
- The use of casein peptone is set to surge in response to increasing biomass production in the coming years
- Presently East Asia is leading in the global casein peptone market and is anticipated to sustain its position during the forecast period
- Europe will continue exhibiting high demand for casein peptone especially in the pharmaceutical sector
- Growing biochemical industry is expected to fuel the demand for casein peptone
“With the rapidly expanding pharmaceutical industry the demand for casein peptone is set to rise significantly. The demand is expected to surge further as the healthcare sector increases focus on vaccine production to fight COVID-19. Research and development initiatives undertaken to discover cost-effective source for peptone is forecast to create growth opportunities for the market in the coming years,” said an FMI analyst.
COVID-19 Impact Analysis
Manufacturing units have been significantly affected due to the unprecedented COVID-19 outbreak. Disruptions witnessed during the extended period of lockdown has caused serious damages to several businesses. Casein peptone being costly, also witnessed decelerating demand during this period. Furthermore, factors such as closed manufacturing units, unavailability of labours, and others are expected to create hindrances for the market.
Contrary to this, the increasing number of the vaccination processes initiated by several countries such as Russia, India, China, and others in the second half of the current year has worked in favour of the casein peptone market. The casein peptone market is anticipated to recover steadily in the coming years creating unlimited opportunities to be explored by the key market players.
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Who is Winning?
The casein peptone market is forecast to register impressive growth due to the rising demand from the industries such as pharmaceutical, cosmetics, and others. In order to capitalize on prevalent opportunities, the key market players are focusing on launching of new and extensive ranges of products.
For instance, Apollo Scientific Ltd. has launched their new ranges of products such as alpha-casein from bovine milk, peptone from casein (pancreatic digest), and others to target broad range of applications such as enzyme production, diagnostic media production, and others in the current year.
Thermo Fisher Scientific Inc. has launched their new Acidicase™ Peptone, Difco Tryptone Peptone which is an animal origin (AO) pancreatic digest of casein, and other casein peptone products in the recent year.
More Valuable Insights on Casein Peptone Market
Key Segments
Application
- Diagnostic Media Production
- Industrial Fermentation
- Biomass Production
- Enzyme Production
- Vaccine Production
- Others
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Middle East and Africa
- Japan
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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