Huge Boom Expected in Valuation of Global Protein Extracts from Single Cell Protein Sources Market till 2023

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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. 

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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.

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The Asia-Pacific (APAC) region is expected to register the fastest growth in the demand for protein extracts from single cell protein sources in the near future. The main factors responsible for this rapid growth are the escalating production of livestock and the subsequent rise in the need for animal feed. The consumption rate of protein is high in the region, owing to the high livestock production rate and this consequently pushes the demand for alternative protein sources, thereby driving the growth of the protein extracts from single cell protein sources market in the region.

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