NEW YORK, May 31, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, global protein extracts from single cell protein sources market size is predicted to reach $8.7 billion by 2023, commercial success of spirulina and chlorella as an alternative protein source, continuous rise in cattle inventory and consequent growth in animal feed production, and rapid advances in single cell protein (SCP) production are the factors driving the market growth.
The market has been classified as bacteria, yeast, algae 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 9.1% CAGR.
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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 a larger 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.
The protein extracts from single cell protein sources market is categorized into biotechnology, animal feed, 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%.
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.
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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.
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.
In September 2017, Cargill acquired Southern States Cooperative Inc. Under the terms of the agreement, Cargill purchased the assets of Southern States Cooperative’s animal feed business, including seven feed mills and its portfolio of products, brands and customer and supplier relationships. The acquisition aimed to strengthen Cargill’s distribution network and go-to-market capabilities in the Southeast, Mid-Atlantic and Northeast regions of the U.S.
Some of the other key players operating in the protein extracts from single cell protein sources industry are euglena Co. Ltd., Tangshan Top Bio-Technology Co. ltd, Cangzhou Tianyu Feed Additive CO. LTD, Valensa International, euglena Co. Ltd, Nutreco N.V., Bega Cheese Limited, Lallemand Inc., Unibio International plc, Cyanotech Corporation, Unilever Group, Glanbia plc, and Qingdao CBH Co. Ltd.
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