The size of the global market for Insect Protein is expected to reach $9.46 billion by 2030, expanding at a compound annual growth rate (CAGR) of 28.4%.
The demand is being driven by a change in consumer tastes away from animal protein and toward substitute proteins such as insect protein as a result of growing worries about potential sustainability, as well as expanded public and private funding for new insect protein development projects in both developed and emerging economies.
The aim of the report is to estimate the size of the market for Insect Protein and the future growth potential of the market for Insect Protein across various segments, such as type, application, the end-user industry and the region.
The base year considered for the analysis is 2019 and from 2020 to 2025 the market size is estimated. Factors such as rising demand in the Asia-Pacific region, growth in the food & beverage and healthcare sectors, and increasing consumer understanding of health are the key drivers of the Insect Protein market in the coming years. The base year considered for the report is 2015, whereas the forecast period considered for the report is 2016–2021.
Insect protein adoption has been the in the food & beverage market, owing to a growing need for protein alternatives by food & beverage manufacturers to meet rising customer demand. Furthermore, the intake of animal products such as beef, eggs, and milk continues to increase as a result of fast population growth, making environmental sustainability a concern.
The high protein content, nutrients, vitamins and desirable fats about 2,000 insect species are now eaten as part of a daily diet by humans and domestic animals all over the world. Food manufacturers have been able to penetrate the market and introduce a variety of items, including protein bars, mealworm cookies, cricket noodles, whey protein, and honey caterpillar croquettes.
For businesses, higher prices and visibility of insect protein-based goods have become major issues. Many start-ups have primarily sold these items through online platforms. Many businesses have been partnering with grocery stores and supermarket chains in order to raise awareness of the benefits of insect protein and to expand the popularity of insect protein-based goods.
Insect Protein Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$9.46 billion|
|Growth Rate||CAGR of 28.4% during 2021-2030|
|Segment Covered||by Product, Insect Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Ÿnsect (SAS) (France), Protix B.V. (Netherlands), Enterra Feed Corporation (Canada), InnovaFeed (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Entomo Farms (Canada), Hargol FoodTech (Israel), Aspire Food Group (U.S.), All Things Bugs LLC (U.S.), Beta Hatch (U.S.), EntoCube OY (Finland), Armstrong Crickets Georgia (U.S.), Global Bugs Asia Co., Ltd (Thailand), JR Unique Foods (Thailand), Cricket Lab Limited (U.K.), BioflyTech (Spain), TEBRIO (Spain), nextProtein (France), Hexafly (Ireland), HiProMine S.A. (Poland), and Protenga Pte. Ltd. (Singapore).|
Key Segments of the Global Insect Protein Market
Application Overview, 2018-2028 (USD Million)
- Food & beverages
- Animal nutrition
- Poultry feed
- Pet food
- Others (exotic pets, birds, and swine)
- Pharmaceutical & cosmetics
Insect Type Method, 2018-2028 (USD Million)
- Black soldier flies
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America
Important Companies in Global Insect Protein market
- Agriprotein Holdings Ltd.
- Enviroflight Llc
- Entomo Farms
- Aspire Food Group
- Chapul Cricket Protein
- Imago Insect Products GmbH
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of Insect Protein Market Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on Insect Protein Market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the field service management industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on application, process, grade, and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Insect Protein Market. The report will benefit: Every stakeholder involved in the Insect Protein Market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about Insect Protein Market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global Insect Protein Market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.