Assessment of the Global Novel Proteins Market
A recent study published by TMRR evaluates the overall prospects of the Novel Proteins market during the forecast period (2019-2029). As per the findings of the report, the Novel Proteins market is forecasted to grow at a CAGR of ~XX% over the assessment period and surpass the value of ~US$ XX by 2019. The report further ponders over the micro and macro-economic factors that are expected to nurture the growth of the Novel Proteins market.
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Essential Findings of the Report
- Data pertaining to the ongoing R&D activities relevant in the Novel Proteins market
- Future prospects of the Novel Proteins market in various regional markets
- Influence of technological advances on the growth of the Novel Proteins market
- Factors likely to boost or inhibit the growth of the Novel Proteins market
- Marketing, sales, and promotional strategies of prominent market players
The competition landscape chapter of the report offers a detailed assessment of the prominent players operating in the Novel Proteins market. The market share, product range, pricing structure, revenue growth, and growth strategies of various companies are discussed in the report.
The regulatory and government policies relevant to the dynamics of the Novel Proteins market in each regional market is included in the report. In addition, the overall scenario of the Novel Proteins market in different geographies is thoroughly analyzed in the presented report.
A thorough analysis of the various end-users of the Novel Proteins is provided in the report along with informative graphs and tables.
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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.
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Major Queries Addressed in the Report:
- How will the growth of the Novel Proteins market unfold in region 1?
- Which market players are heavily investing in R&D activities?
- What is the most lucrative region for companies in the Novel Proteins market?
- Which is the market share of region 1 and region 2?
- How are companies coping with the soaring prices of raw materials?
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