Protein Extracts from Single Cell Protein Sources Market Overview, Segment Analysis, Growth and Forecast Report 2023
Global protein extracts from single cell protein sources market size is predicted to reach $8.7 billion by 2023. 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.
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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.
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%.
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.
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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.
