How is Rising Consumption of Protein Fuelling Progress of Global Protein Extracts from Single Cell Protein Sources Market?

The protein extracts from single-cell protein sources market is being driven by the rising awareness on the environmental and human health benefits of alternative proteins, increasing initiatives by public and private-sector firms to meet the demand for these, and their surging usage in animal feed. From $5.3 billion in 2017, the market is expected to grow to $8.7 billion by 2023, witnessing a CAGR of 8.6% during 2018-2023 (forecast period). A number of unicellular organisms, including algae, fungi, yeast, and bacteria, serve as sources of proteins.

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Among these, proteins extracted from algae held the largest share, of 33.4%, in terms of value, in the protein extracts from single-cell protein sources market in 2017. This is attributed to the heavy demand for proteins derived from algae, such as chlorella and spirulina, in several sectors, including pharmaceutical and biotechnology, food and beverage, animal feed, cosmetics, and agriculture. As a result, this source category would also witness the highest CAGR, of 9.3%, during the forecast period.

In 2017, North America made the largest revenue contribution, of 37.3%, to the industry, as a result of the presence of established market players and a mature biotechnology sector. Further, several conferences on how to deal with challenges in protein product development also drive the regional market. During the forecast period, Asia-Pacific (APAC) would witness the highest protein extracts from single-cell protein sources market CAGR, of 9.8%, owing to a surge in animal feed production and usage of spirulina for dealing with malnutrition in pregnant women, infants, children, and AIDS patients.

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Market Segmentation by Source
o Algae
o Yeast
o Bacteria
o Fungi
Market Segmentation by Application
o Animal Feed
o Livestock
o Fish
o Companion animals
o Biotechnology
o Agriculture and Fertilizers
o Others

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o Historical and the present size of the xyz market
o Major factors driving the market and their impact during the short, medium, and long terms
o Market restraints and their impact during the short, medium, and long terms
o Recent trends and evolving opportunities for the market participants

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