Global protein extracts from single cell protein sources market size is predicted to reach $8.7 billion by 2023, according to P&S Market Research.
Rising initiatives to create awareness about health and environmental benefits of alternative protein sources, rise in the production of animal feed, and increasing initiatives by public and private entities to cater the increasing demand for protein are the major factors driving the growth of the market.
Insights on market segments
The market has been classified as algae, yeast, bacteria and fungi, on the basis of source. Of all types of sources, the fastest growth in the protein extracts from single cell protein sources market during the forecast period is expected from algae category, with 9.3% CAGR.
SCP for human consumption is generally produced from food grade substrates, but the processes are being developed to produce SCP from inexpensive waste materials, food and beverage processing industries, as well as directly from forestry and agricultural sources. Algae has large biomass than fungi (filamentous fungi and yeast) and bacteria, and can be used as SCP, which is an advantage over other sources of protein, and thus accelerate the growth of protein extracts from single cell protein sources market.
Browse report overview with detailed TOC on "Protein Extracts from Single Cell Protein Sources Market by Source (Algae, Yeast, Bacteria, Fungi), by Application (Animal Feed, Biotechnology, Agriculture & Fertilizers), by Geography (U.S., Canada, China, India, Japan, Germany, U.K., France, Italy, Spain, Brazil, Mexico, South Africa) – Global Market Size, Share, Development, Growth and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/protein-extracts-from-single-cell-protein-sources-market
The protein extracts from single cell protein sources market is categorized into animal feed, biotechnology, agriculture and fertilizers, and others, on the basis of application. During the forecast period, the demand for these products is expected to witness the highest growth for animal feed application area, at a CAGR of 8.8%.
North America to hold largest share in the global protein extracts from single cell protein sources market
During the historical period, North America held the largest share in the global protein extracts from single cell protein sources market, with 37.3% contribution in 2017. The major reasons for the largest share of the regional market include introduction of matured biotechnology industry, coupled with presence of major market players in the region.
Moreover, conferences conducted in the U.S. and Canada for pertinent technologies, that address challenges in the development of protein products also support the growth of the market in the region. For instance, in May 2017, a conference titled “Global Food Forums Protein Trends & Technologies Seminar” was conducted in Illinois, U.S. This conference was aimed at enhancing knowledge and skills of personnel of organizations producing protein extracts for the development of new and innovative protein-centric products.
Furthermore, the establishment of various institutions or non-profit scientific foundations (such as, International Life Sciences Institute), for proving better understanding of the role of science in advancing nutritional quality and safety of food supply, also support the growth of the protein extracts from single cell protein sources market.
Increasing acquisitions by key players to enhance their market share
In order to increase their market share, key players of the protein extracts from single cell protein sources industry are pursuing acquisitions. For instance, in January 2018, Cargill Incorporated (Cargill) acquired Pro-Pet LLC. The acquisition was aimed to strengthen Cargill’s distribution channel of animal feed and pet food offerings in the agriculture retail market. The terms of the transaction were not disclosed.
Some of the other key players operating in the protein extracts from single cell protein sources industry are Lallemand Inc., Unibio International plc., Qingdao CBH Co. Ltd., euglena Co. Ltd., Unilever Group, Valensa International , Bega Cheese Limited, Cangzhou Tianyu Feed Additive Co. Ltd., Tangshan Top Bio-Technology Co. Ltd, Cargill Incorporated.
GLOBAL PROTEIN EXTRACTS FROM SINGLE CELL PROTEIN SOURCES MARKET SEGMENTATION
Market Segmentation by Source
Market Segmentation by Application
Market Segmentation by Geography