TMRR, in its recent market report, suggests that the Novel Proteins market report is set to exceed US$ xx Mn/Bn by 2029. The report finds that the Novel Proteins market registered ~US$ xx Mn/Bn in 2018 and is spectated to grow at a healthy CAGR over the foreseeable period. This Novel Proteins market study considers 2018 as the base year, 2019 as the estimated year, and 2019 – 2029 as the forecast timeframe.
The Novel Proteins market research focuses on the market structure and various factors (positive and negative) affecting the growth of the market. The study encloses a precise evaluation of the Novel Proteins market, including growth rate, current scenario, and volume inflation prospects, on the basis of DROT and Porter’s Five Forces analyses. In addition, the Novel Proteins market study provides reliable and authentic projections regarding the technical jargon.
Important regions covered in the Novel Proteins market research include Region 1 (Country 1, country 2), Region 2 (Country 1, country 2), Region 3 (Country 1, country 2) and Region 4 (Country 1, country 2).
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The Novel Proteins market study answers critical questions including:
- What tactics are being utilized by the Novel Proteins market players to expand their production footprint in region?
- What are the threats faced by players in the global Novel Proteins market mutually?
- Why region holds the majority of share in the global Novel Proteins market?
- Why segment has the largest consumption in region?
- Which industries remain the leading consumers of the Novel Proteins across the globe?
The content of the Novel Proteins market report includes the following insights:
- Growth outlook of the global Novel Proteins market in terms of value and volume
- Strategies utilized by different Novel Proteins market players.
- Drivers, restraints, opportunities and trends (DROT Analysis) impacting the growth prospect for the Novel Proteins over the forecast period.
- End use consumption of the Novel Proteins across various regions.
- Identify the ecological impacts of the Novel Proteins and what regulations are being imposed on its usage.
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On the basis of component, the global Novel Proteins market report covers the following segments:
Rapidly Increasing Pet Population Worldwide Complements Growth of the Novel Proteins Market
The population of pets in the world has surged rapidly in the past few years, which is an important factors to influence growth prospect of the novel proteins market. According to a study published by an American nongovernmental organization – Insurance Information Institute, nearly 60.2 million households adopted dogs, 47.1 households adopted cats, and over 2.6 million adopted horses in the U.S. Another study conducted by the Japan Pet Food Association, more than 8.92 million households adopted dogs and 9.52 million adopted cats in Japan in 2017. Increasing concerns about pet health along with the speedily increasing pet population around the world is expected to create positive opportunities for players in the novel proteins market.
Rise of the Trend of ‘Pet Parenting’ Worldwide will Drive Growth of the Novel Proteins Market
With a mounting number of young-adults and the millennial population preferring to own a pet instead of having children, the trend of ‘pet parenting’ has witnessed tremendous growth. Pet health and wellness is among the biggest concerns for pet parents, which drives pet owners’ purchase-related decision, boosting sales of pet food and pet care products. Willingness of pet owners to spend hundreds of dollars per pet every year on pet health, grooming, and medical expenses to ensure their pet’s health and activity levels is expected to remain the primary driving engine for the novel proteins market in the upcoming years.
Emergence of Novel Proteins can Mitigate Environmental Impact of Poultry Productions
Increasing growth of the poultry industry is mainly attributed to the rise in demand for inexpensive supply of meat and eggs, which is mainly driven by needs for high-protein sources. Health-conscious consumers are modifying their dietary habits and increasing protein intake, primarily to accelerate weight loss, which has spurred poultry production across the world, resulting in severe environmental problems.
Increasing poultry production is mainly responsible for environmental impacts related to a variety of pollutants, including ammonia, nutrients (specifically nitrogen and phosphorus), oxygen-demanding substances, solids, pathogens, antibiotics, trace elements, hormones, pesticides, along with other airborne emissions. Growing environmental awareness about the pollution caused due to ever-growing poultry production is triggering adoption of novel proteins, thereby, complementing growth of the novel proteins market.
Even though novel proteins are more commonly used in pet food products, a mounting number of leading players in the novel proteins market are introducing novel proteins suitable for humans to mitigate environmental impacts of poultry production.
All the players running in the global Novel Proteins market are elaborated thoroughly in the Novel Proteins market report on the basis of R&D developments, distribution channels, industrial penetration, manufacturing processes, and revenue. In addition, the report examines, legal policies, and comparative analysis between the leading and emerging Novel Proteins market players.
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