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.
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.
Another factor driving the protein extracts from single-cell protein sources market progress is the initiatives being taken to raise the awareness on the benefits of alternative proteins. For instance, Algae Biomass Organization (ABO) and Valensa International entered into a partnership in 2017, to make people aware of the sustainability of microalgae as a protein source for animal feed, human nutrition, fuel, water treatment, and chemical production. Similarly, conferences and workshops are conducted by the European Algae Biomass Association (EABA), to promote the usage of algae-based products, owing to their environmental benefits.
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.
Thus, the demand for proteins extracted from unicellular organisms would rise, owing to the surging awareness about their benefits for human health and environment and increasing requirement for animal feed.
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Another factor driving the protein extracts from single-cell protein sources market progress is the initiatives being taken to raise the awareness on the benefits of alternative proteins. For instance, Algae Biomass Organization (ABO) and Valensa International entered into a partnership in 2017, to make people aware of the sustainability of microalgae as a protein source for animal feed, human nutrition, fuel, water treatment, and chemical production. Similarly, conferences and workshops are conducted by the European Algae Biomass Association (EABA), to promote the usage of algae-based products, owing to their environmental benefits.
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.
Thus, the demand for proteins extracted from unicellular organisms would rise, owing to the surging awareness about their benefits for human health and environment and increasing requirement for animal feed.
