Soaring number of initiatives by governments and private organizations for creating awareness amongst the people about the health and environmental benefits of alternative protein sources is one of the major factors responsible for the rise in the demand for protein extracts from single cell protein sources across the world. For instance, Valensa International, which is a major producer of microalgae-based nutraceuticals launched an alliance with a U.S. based trade organization called Algae Biomass Organization (ABO) in 2017 in order to create awareness amongst the masses about the consumption of microalgae as an alternative protein source.
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The surging population of livestock and cattle including sheep, goat, and buffalo, has boosted the production of animal feed, which has in turn, propelled the need for animal protein. As per the International Feed Industry Federation (IFIF), the total worldwide production of compound feed was recorded to be 1.0 billion tonnes in 2016. Therefore, it can be said that owing to the increasing production of compound feed, the production of protein from various alternative sources such as animals, microbes, and plants will also increase in future.
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The Asia-Pacific (APAC) region is expected to register the fastest growth in the demand for protein extracts from single cell protein sources in the near future. The main factors responsible for this rapid growth are the escalating production of livestock and the subsequent rise in the need for animal feed. The consumption rate of protein is high in the region, owing to the high livestock production rate and this consequently pushes the demand for alternative protein sources, thereby driving the growth of the protein extracts from single cell protein sources market in the region.
The research offers market size of the global protein extracts from single cell protein sources market for the period 2013–2023.
Market Segmentation by Source
Market Segmentation by Application
- Animal Feed
- Companion animals
- Agriculture and Fertilizers
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