Insect protein, single-cell protein, and algae proteins have emerged as major options to replace fish meal. This report includes a PEST analysis, which makes clear that algae is poorly positioned for success as a major source of protein for aquafeed. While the Lux Tech Signal shows similar levels of innovation interest in each of the three, there are significant differences in the scale and applicability of the three for use in aquafeed. Our projections of production show that single-cell protein sources will reach commercially relevant scales more rapidly than insect proteins. As these alternatives become more frequent inclusions in aquaculture feed, it will be critical for industry players to understand the dynamic of the landscape to rationalize and prioritize future feed composition.
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