Protein Extracts from Single Cell Protein Sources Market Insight Report

1. How will Increasing Livestock Propel Growth of Protein Extracts from Single Cell Protein Sources Market in APAC till 2023? © P&S Intelligence. All rights reserved Page 1

2. 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. Receive Sample Copy of this Report:https://www.psmarketresearch.com/market-analysis/protein- extracts-from-single-cell-protein-sources-market/report-sample 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. Make an Enquiry before Purchase:https://www.psmarketresearch.com/send-enquiry?enquiry- url=protein-extracts-from-single-cell-protein-sources-market Due to the above-mentioned factors, the revenue generated from the worldwide sales of protein extracts from single protein sources will increase from $5.3 billion to $8.7 billion from 2017 to 2023. Moreover, the global protein extracts from single cell protein sources market is predicted to advance at an 8.6% CAGR during the forecast period (2018–2023). There are various alternative sources of protein, such as yeast, fungi, bacteria, and algae. Amongst these, the utilization of algae-based protein sources is expected to record the fastest rise in the coming years. Protein extracts from single cell protein sources are widely used in various applications such as biotechnology, agriculture and fertilizers, and animal feed. Out of these, the usage of these protein extracts in animal feed applications was observed to be the highest in 2017 and this trend is expected to continue during the forecast period as well. This is mainly attributed to the mushrooming production of animal feed in order to meet the needs of the surging buffalo, livestock, and cattle population. Therefore, it can be said with full surety that owing to the increasing consumption of protein by livestock, animals, and people and increasing awareness amongst the masses about alternative protein sources, the demand for protein extracts from single cell protein sources will boom in future. © P&S Intelligence. All rights reserved Page 2

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