- Need to support strides in animal-based protein markets spurs investments in ASEAN single cell protein (SCP) market
- Asia's aquaculture industry pave way to new revenue streams coming from biotech innovations, overall revenues to reach US$ 232 Bn by 2030 in ASEAN
ALBANY, N.Y., June 9, 2021 /PRNewswire/ -- Single-cell protein (SCP) has gained attention among biotechnology and food sector on the back of its potential to address ballooning demand for animal-based protein world over. SCP is obtained from a variety of organisms, with microbial and algal cells being the most popular ones. The ASEAN single cell protein (SCP) market prospect for plant-based protein sources along with microbial protein, with SCP being a prominent category, has expanded remarkably in developed world. With the growing share of protein in human consumption, the single cell protein market in ASEAN is expected to rise at a promising rate: Analysts at TMR project the market to expand at CAGR of 9.3% during 2020 – 2030.
In recent years, interest in generating SCP from human microbiome has risen, with its potential in producing meat analogs, such as plant-based meats, and non-diary milk. Consumers for both have grown substantially in recent years. All these trends will help the ASEAN single-cell protein market to attain a worth of US$ 232 Bn by 2030-end.
Key Findings of ASEAN Single Cell Protein Market Study
Soaring Demand for Animal-based Proteins through 2050 to Nudge Manufacturers to Ramp up Investments: Worldwide demand for animal-derived protein is expected to rise substantially. Per an estimate in an article published in the NCBI, the world wound need 1,250 million tonnes of meat and dairy per year if they have to meet current consumption levels by the end of 2050. Demand in ASEAN is also expected to grow remarkably. This has put pressure on industry players to explore new sources of protein, generating massive interest in microbial protein. Single cell protein are thus attracting extensive interest by animal feed and food industries. Biotech companies have continuously ramped up investments in sourcing SCP from fungi, bacteria, and algae. Thus, generation of bio-protein feed ingredients in coming years will help promote food security
Single Cell Protein Spirulina To Set Tone For Innovations: The focus on leading healthy life has intensified in the recent months after Covid-19 pandemic struck the world. Population of the developing world have increasingly becoming conscious about diets that can ward off diseases and boost the immunity against infectious disease-causing pathogens. Aquafeed segment has attracted groundswell of attention due to rising preference of seafood, particularly in numerous Asian nations. It is making rapid strides in animal protein sectors. Of all the various key nutrients made from SCM, spirulina is attracting interest among dietary supplement manufacturers. This can be ascribes to the massive health benefits due to a combination of hypoglycemic, antihypertensive, and hypolipidemic properties.
Several companies are expanding their stakes in ASEAN single-cell protein market motivated by the mounting food security concerns, notably in Asia. Top players are keen on customizing the protein profiles of their products to meet the various demands in food and feed industries.
Some of the prominent industry players are Calysta, Inc., Novus International, Inc., Parry Nutraceuticals Limited, Unibio A/S, Alltech, Inc., and Evonik Industries AG.
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