The insect protein market is experiencing notable innovations, with a dominating segment in animal feed and pet food. Innovations include novel processing techniques, insect farming methods, and product formulations that enhance the sustainability and palatability of insect-based protein. The animal feed and pet food segment leads due to its high protein content, eco-friendliness, and the growing demand for sustainable protein sources. Insect protein's nutritional value and environmental benefits position it as a disruptive force in the animal feed industry, driving its widespread adoption and market growth.
According to Data Bridge Market Research, the Global Insect Protein Market was valued at USD 543.67 million in 2021 and is expected to reach the value of USD 1,395.54 million by 2029, at a CAGR of 24.7% during the forecast period of 2022-2029.
“Adoption of less costly processing methods boost the market’s growth”
The adoption of less costly processing methods is a significant driver in the insect protein market. As technology advances and economies of scale are realized, the cost of farming and processing insects for protein production decreases. This affordability makes insect protein more competitive with traditional protein sources such as soy and meat. As a result, food companies and consumers are increasingly drawn to insect protein for its sustainable, nutritional, and cost-effective attributes, propelling market growth.
What restraints the growth of the global insect protein market?
“Regulatory hurdles restraints the market’s growth”
Regulatory hurdles present significant restraints in the insect protein market. Differing regulations and standards across regions and countries can hinder the growth and trade of insect-based products. Some areas lack specific guidelines for insect consumption, leading to uncertainty for businesses. Ensuring compliance with food safety and labeling regulations is challenging, requires substantial resources.
Segmentation: Global Insect Protein Market
The insect protein market is segmented on the basis of insect type, application, and distribution channel.
- On the basis of insect type, the insect protein market is segmented into beetles, caterpillars, bees, wasps and ants, grasshoppers, locusts, crickets, true bugs, black soldier flies, cicadas, leafhoppers, plant hoppers, scale insects, termites, dragonflies, flies, mealworms and others.
- On the basis of application, the insect protein market is segmented into food and beverage, feed, and pharmaceuticals, and cosmetics.
- On the basis of distribution channel, the insect protein market is segmented into direct and indirect.
Regional Insights: Asia-Pacific dominates the Global Insect Protein Market
The Asia-Pacific dominates the insect protein market, and this trend is expected to persist through 2029. The region's dominance can be attributed to the growing demand for insect-based products, driven by rising disposable incomes and changing dietary preferences. Additionally, factors such as sustainability and nutritional benefits contribute to the popularity of insect protein in this region, reinforcing its stronghold in the market.
In North America, the insect protein market is poised for rapid growth. This surge is attributed to the rising consumer interest in innovative flavors and the region's burgeoning population of microbreweries focusing on large-volume production. These breweries are increasingly incorporating insect-derived ingredients into their beer recipes, aligning with evolving consumer preferences and contributing to the expansion of the insect protein market in North America.
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Recent Developments
- In March 2021, Nutrition Technologies secured a $5 million investment in a Pre-Series B funding round, with participation from existing investors Openspace Ventures and SEEDS Capital. The funding aimed to establish an insect protein factory in Malaysia, enabling the company to expand into new Southeast Asian markets and support research and development.
- In November 2020, Portenga pioneered smart insect farms capable of producing insect proteins for use in agriculture as feed or fertilizer. These modular and decentralized farms are strategically located near waste biomass sources and can process 20-60 metric tonnes of feedstock daily.
- In November 2020, AgriProtein, a subsidiary of ITG, partnered with PreZero US, a German-based global recycling company. Together, they formed "Bioko!" as a joint venture in the United States, focusing on nutrient recycling processes and circular economy solutions.
The Prominent Key Players Operating in the Global Insect Protein Market Include:
- Aspire Food Group (U.S.)
- EntomoFarms (Canada)
- Protifarm (Netherlands)
- Jimini’s (U.K.)
- Chapul Cricket Protein (U.S.)
- Swarm Nutrition GmbH (Germany)
- AgriProtein Holdings Ltd. (South Africa)
- EnviroFlight LLC (U.S.)
- Innovafeed (France)
- Ÿnsect (France)
- Hexafly (Ireland)
- Protix (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of global insect protein market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Insect Protein Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
