Insect Protein Market - By Application (Animal Nutrition (Pet Food, Aquafeed, and Poultry Feed), Food & Beverages, and Pharmaceuticals & Cosmetics), By Insect Type (Black Soldier Flies, Crickets, Ants, Mealworms, and Grasshoppers)-Global Industry Analytics, COVID-19 Business Impact, and Trends, 2020 – 2029

                                          
Abstract
                    
The global insect protein market was estimated at 148 (USD Million) in 2019 and is projected to be valued at over 1400 (USD Million) by 2025 at a CAGR of 45.7% over 2019-2025. The report offers valuation and analysis of insect protein market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, revenue estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).

Introduction

With prominent inflation in the global population and large-scale demand for protein-based products from the end-users, the production of protein from fish, poultry, and livestock has become a daunting or formidable task. This has shifted the proclivity of the industry players towards producing insect species for protein. According to NCBI, nearly 1,900 species of insects are consumed across the globe and their demand is bulging in the emerging economies.

Market Growth Dynamics

The insect protein market is expected to gain traction over the forthcoming years due to the high feed conversion ratios, reduced GHG emissions, and high feed quality. Apart from this, few of the insect species can be nurtured on organic side streams, thereby minimizing the environmental damage and transmuting waste into high-protein feed replacing fish in the diet. Furthermore reduced disposable charges of organic side streams will boost the scope of the business over the foreseeable future.


Furthermore, the escalating need for new food solutions having high nutritive value for both indirect as well as direct intake by humans will prompt the market demand. Apart from this, insects are used for feeding farmed animals due to their high nutritive value and this will also help in charting a profitable growth curve for animal feed micronutrients sector. Apparently, the reduction in the land area usage for producing proteins through insect farming and the availability of techniques into nutritive protein products will offer new growth avenues for the market over the forthcoming years.

Additionally, insects are consumed in a diet for enhancing gut health as it consists of bioactive parts including lauric acid, chitin, and antimicrobial peptides having immune boosting features. Furthermore, thriving HI producing firms have also contributed lucratively towards the expansion of the insect protein market in the current years.

The favorable market trend is the indication of benefits accrued by the stakeholders through insect production for consumers requiring high value protein products. With insects becoming a part of the routine diet of fish and free-range poultry, it is most plausible that the insect proteins can be considered as the commercial source of animal feed over the coming years, thereby further accelerating the market growth.

Several insects have been tried for animal feed and black soldier fly has proved to be the major potential source of animal feed. Apart from this, studies have revealed that mealworms have higher nutritive value in comparison to other traditional sources of diet. All these factors will further steer up the industry growth over the forthcoming years.

North America & Europe To Make Major Contributions Towards Overall Market Share By 2025

According to NCBI, in 2019 nearly one-third of the U.S. population displayed an interest in purchasing insect-based food products. Apart from this, one out of five meat consumers have demonstrated their eagerness in acceptance of insect food in the U.S. Additionally, favorable feed legislations passed by regulatory authorities of the U.S. and Europe will further steer the growth of the market in North America and Europe.

For instance, the U.S. FDA passed a law referred to as FFDCA and as per the legislation GRAS or additive approval list was required for insects and the approval list also included HI larvae as an animal feed ingredient. Citing another such instance, the European Food Safety Authority of the EU has provided green signal towards the use of fat from insects in animal feed. All these aforementioned factors will unfurl new dimensions of growth for the insect protein industry over the forecasting years.

Key players profiled in the insect protein industry include Protifarm NV Entomo Farms, Aspire Food Group, Jimini’s, Swarm Nutrition GmbH, Chapul Cricket Protein, EnviroFlight LLC, AgriProtein Holdings Ltd., SAS Ÿnsect Company, InnovaFeed SAS, Protix, and Hexafly.

The global insect protein market is segmented as follows:

By Application

	Food & beverages
	Animal nutrition
	
		Aquafeed
		Poultry feed
		Pet food
		Others (exotic pets, birds, and swine)
	
	
	Pharmaceutical & cosmetics

By Insect Type

	Crickets
	Black soldier flies
	Mealworms
	Ants
	Grasshoppers
	Others (silkworms, beetles, and buffalo worms) 

By Region

	North America
	
		The U.S.
		Canada
	
	
	Europe
	
		France
		The UK
		Spain
		Germany
		Italy
		Rest of Europe
	
	
	Asia Pacific
	
		China
		Japan
		India
		South Korea
		Southeast Asia
		Rest of Asia Pacific
	
	
	Latin America
	
		Brazil
		Mexico
		Rest of Latin America
	
	
	Middle East & Africa
	
		GCC
		South Africa
		Rest of Middle East & Africa