The Worldwide Insect Protein Industry is Expected to Reach $3.3 Billion by 2027


DUBLIN, Oct. 7, 2022 /PRNewswire/ — The “Insect Protein Market by Insect Type (Cricket, Grasshoppers, Ants, Mealworms, Black Soldier Flies, and Others), Application (Food & Beverages, Animal Nutrition, Pharmaceutical & Cosmetics), Distribution Channel and Region – Global Forecast to 2027” report has been added to  ResearchAndMarkets.com’s offering.

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The insect protein market is projected to reach USD 3.3 Billion by 2027 growing at a CAGR of 32.7% from 2022 to 2027. Insect proteins are now getting highly popular among the young population, especially for sports nutrition. This is due to the rising application of cricket flour in various nutritious food products. Government support, and the presence of key manufacturers in this market, have contributed to the growth of the insect protein market.

Insect protein has high demand in the application segment.

The insect protein market has been segmented based on application food & beverages, animal nutrition, and pharmaceuticals & cosmetics. The animal nutrition segment contributed to the largest market share in 2022, followed by food & beverages and pharmaceuticals & cosmetics.

However, insect protein is majorly known for its nutritional characteristics, and hence, its application is directed toward the food and feed industries. The growing concerns about pet health and willingness to spend more on pet food products and medicines among pet owners are further projected to drive the insect protein market growth. Among the animal nutrition segment, aquafeed is anticipated to account for the majority share in the insect protein market.

According to the Food and Agriculture Organization (FAO) estimates, by 2050 the demand for aquaculture will grow by 90%, and its production will increase from 59.9 million (MT) in 2010 to 113.7 million (MT) in 2050, which is projected to boost the market growth.

Asia Pacific is projected to witness a growth of 33.21% during the forecast period in the insect protein market.

The insect protein market in the Asia Pacific is growing at a CAGR of 33.21%. The Asia Pacific region is anticipated to be positioned as one of the leading consumers and producers of insect protein. The lucrative opportunity offered by the region has encouraged multinational companies to start their operations in the region.

The hot and humid climate for most of the months of the year is one of the most promising conditions for the proper growth of insects in this region. Emphasis is given to the companies’ mergers, expansion, acquisition, partnership, and new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Market

4.2 Market for Insect Protein: Growth Rate of Major Regional Submarkets

4.3 Europe: Market for Insect Protein, by Key Type & Country

4.4 Market for Insect Protein, by Insect Type

4.5 Market for Insect Protein, by Application

4.6 Market for Insect Protein, by Distribution Channel

4.7 Market for Insect Protein, by Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Increasing Investments in R&D and Start-Ups

5.2.1.2 Increasing Demand for Alternate Protein

5.2.1.3 Food Security & Sustainability

5.2.2 Restraints

5.2.2.1 Consumers’ Unacceptance of Insect-based Proteins

5.2.2.2 High Cost

5.2.2.3 Microbial Risk and Allergic Reactions

5.2.3 Opportunities

5.2.3.1 Defined Regulations and Government Support

5.2.3.2 Collaborations of Insect Protein-based Product Manufacturers with Retailers

5.2.3.3 Opportunities for Food Equipment Manufacturers in Insect Rearing

5.2.4 Challenges

5.2.4.1 Adverse Effect of Vegan Trend on Insect Protein Market

6 Industry Trend

6.1 Pricing Analysis

6.2 Value Chain

6.2.1 Research and Product Development

6.2.2 Rearing of Insects

6.2.3 Production & Processing

6.2.4 Distribution

6.2.5 Marketing & Sales

6.3 Tariff and Regulatory Landscape

6.3.1 Regulatory Bodies, Government Agencies, and Other Organizations

6.3.2 US

6.3.2.1 Feed Application

6.3.2.2 Food Application

6.3.3 Canada

6.3.4 Europe

6.3.5 Asia-Pacific

6.4 Patent Analysis

6.5 Porter’s Five Forces Analysis

7 Insect Protein Market, by Insect Type

7.1 Introduction

7.2 Crickets

7.2.1 High Acceptance in Food Industry due to High Protein Content

7.3 Black Soldier Flies

7.3.1 Increasing Use of Black Soldier Fly Larvae for Feed Application

7.4 Mealworms

7.4.1 Acceptance of Mealworms Gaining Pace in the Feed Industry

7.5 Grasshoppers

7.5.1 Protifarm (France) Commercializing Food Products with Grasshopper Protein in Europe

7.6 Ants

7.6.1 Commercialization of Insect Protein from Ants for Feed and Food Applications

7.7 Other Insects

8 Insect Protein Market, by Application

8.1 Introduction

8.2 Food & Beverages

8.2.1 High Protein Content Has Encouraged American and European Population to Accept Insect Protein-based Food Products

8.3 Animal Nutrition

8.3.1 Aquafeed

8.3.1.1 Most Feed Insect Protein Products for Aquafeed Application

8.3.2 Poultry Feed

8.3.2.1 Food Security Issue Raised for Soybean Meal Has Led to the Increasing Demand for Insect Protein

8.3.3 Pet Food

8.3.3.1 Dogs and Cats are Major Pets Fed with Insect Protein-based Products

8.3.4 Other Animal Nutrition

8.4 Pharmaceutical & Cosmetics

8.4.1 High Prices and the Need for Advanced Extraction and Purification Technologies are Inhibiting the Growth Potential of the Market

9 Insect Protein Market, by Distribution Channel

9.1 Introduction

9.2 Offline

9.3 Online

10 Insect Protein Market, by Region

11 Competitive Landscape

11.1 Overview

11.2 Company Evaluation Quadrant (Key Players)

11.2.1 Stars

11.2.2 Emerging Leaders

11.2.3 Pervasive Players

11.2.4 Participants

11.3 Ranking of Key Players, 2021

11.4 Competitive Benchmarking

11.5 Competitive Benchmarking

11.6 Competitive Scenario

11.6.1 Product Launches

11.6.2 Deals

11.6.3 Other Developments

12 Company Profiles

12.1 Key Players

12.1.1 Enviroflight

12.1.2 Innovafeed

12.1.3 Hexafly

12.1.4 Protix

12.1.5 Global Bugs

12.1.6 Entomo Farms

12.1.7 Ynsect

12.1.8 Beta Bugs

12.1.9 Aspire Food Group

12.1.10 Chapul, LLC

12.1.11 Beta Hatch

12.1.12 Nextprotein

12.1.13 Nutrition Technologies

12.1.14 Goterra

12.1.15 All Things Bugs, LLC.

12.1.16 Jr Unique Foods

12.1.17 Protenga

12.1.18 Hipromine SA

12.1.19 Bioflytech

12.1.20 Tebrio

13 Adjacent and Related Markets

14 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/qwbk4c

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