Global Protein Extracts from Single Cell Protein Sources Market Set for Prosperity in Future
The global protein extracts from single cell protein sources market is predicted to register huge growth in the coming years. The main factors propelling the advancement of the market are the increasing number of initiatives being launched in several countries for raising public awareness about the environmental and health benefits of various alternative protein sources, the surging animal feed production, the soaring initiatives being taken by private and public companies for catering to the rising requirement for protein.
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Furthermore, conferences and workshops were organized by the European Algae Biomass Association (EABA) for raising public awareness about the usage of algae-based products for various environmental aspects. These initiatives are fueling the expansion in the protein extracts from single cell protein sources market. Besides this, the surging animal feed production is also driving the progress of the market. As per the International Feed Industry Federation (IFIF), the global compound feed production reached around one billion tonnes in 2016.
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The factor fueling the growth of the market in the APAC region is the increasing animal feed production, on account of the soaring livestock production, in the regional countries. With the rising livestock production rate, the consumption of various nutrients such as protein is increasing rapidly across the region. Moreover, the mushrooming usage of protein extracts from SCP for preventing malnutrition in pregnant women, children, and infants, is also contributing toward the boom of the market in the region.