The protein obtained from an insect is known as insect protein. There are many edible varieties of insects that contain high-quality protein, vitamins, amino acids, unsaturated fatty acids, and minerals. These insects are processed and utilized in applications such as food & beverages, feed, pet food, pharmaceutical, and cosmetic sectors. Insects have more amount of protein in comparison to the conventional sources of protein (beef, poultry, and pork). They have a high feed conversion efficiency ratio and also require less amount of water. Moreover, they also produce 80 times less methane than the ruminants. They not only provide more amount of protein but also provide high-quality protein that can be used in the food products such as cookies, breads, desserts, soups, chips, and other snacks.
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Data Bridge Market Research analyzes that the Europe Insect Protein Market is expected to reach the value of USD 1,081,464.59 thousand by 2030, at a CAGR of 28.9% during the forecast period. Active collaboration, launches, and promotional efforts from the key market players are creating new opportunities for the Europe insect protein market to grow in the upcoming years.
Key Findings of the Study
Increasing Investment in R&D
The rising demand and high protein content in insects have led manufacturers and government organizations to frame various R&D programs to maintain a proper demand-supply chain of insect protein in the region. A lot of start-ups and big companies are trying to capture the growing market of insect proteins in Europe. These companies are continuously acquiring or obtaining seed funding to develop new products, which is expected to propel market growth. Furthermore, the European Union has included insect breeding in the Farm to Fork Strategy and declared that insects could play a significant role in developing the region's sustainable, resilient, and circular food system. Insect farming has the potential to minimize imports of food and feed, shortening the food chain and diversifying the protein-based products accessible in Europe. Various manufacturers have been developing new technologies and acquiring research and sustainable measures to cater to the increasing demand for insect proteins.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2015 – 2020)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Insect Type (Beetles, Caterpillars, Bees, Wasps & Ants, Grasshopper, Locusts, Crickets, True Bugs, Black Soldier Flies, Cicadas, Leafhopper, Plant hoppers, Scale Insects, Termites, Dragonflies, Flies, Mealworms, and Others), Product Type (Organic and Conventional), Application (Food, Dietary Supplements, Animal Feed, Pharmaceutical, Cosmetic, and Sports Nutrition), Distribution Channel (Direct and Indirect)
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Countries Covered
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Germany, U.K., France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Poland, Denmark, and rest of Europe
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Market Players Covered
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Protix (Netherlands), Ÿnsect (France), BioflyTech (Spain), Innovafeed (France), Hexafly (Ireland), Insectum (Lithuania), Entocycle (U.K.), nextProtein (France), Protifly (France), and Tebrio (Spain) among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis
The Europe insect protein market is segmented into four notable segments based on insect type, product type, application, and distribution channel.
- On the basis of insect type, the market is segmented into beetles, caterpillars, bees, wasps & ants, grasshopper, locusts, crickets, cicadas, leafhopper, plant hoppers, scale insects, true bugs, termites, dragonflies, flies, mealworms, black soldiers flies, and others.
In 2023, the black soldier flies segment is expected to dominate the Europe insect protein market.
In 2023, the black soldier flies segment is expected to dominate the Europe insect protein market owing to the easy availability and rearing of flies in the region. The segment is expected to dominate the market with a market share of 15.38%.
- On the basis of product type, the market is segmented into organic and conventional.
In 2023, the conventional segment is expected to dominate the Europe insect protein market.
In 2023, the conventional segment is expected to dominate the Europe insect protein market owing to the easy availability and lower prices. The segment is expected to dominate the market with a market share of 80.71%.
- On the basis of application, the market is segmented into animal feed, food, pharmaceutical, cosmetic, sports nutrition, and dietary supplements. In 2023, the animal feed segment is expected to dominate the market with a market share of 75.03%.
- On the basis of distribution channel, the market is segmented into direct and indirect. In 2023, the direct segment is expected to dominate the market with a market share of 70.13%.
Major Players
Data Bridge Market Research recognizes the following companies as the major players operating in the Europe insect protein market that include Protix (Netherlands), Ÿnsect (France), BioflyTech (Spain), Innovafeed (France), Hexafly (Ireland), Insectum (Lithuania), Entocycle (U.K.), nextProtein (France), Protifly (France), and Tebrio (Spain) among others.
Market Development
- In June 2022, Innovafeed extended its partnership with Cargill (U.S.) to develop new innovative fish feed products for sustainable aquaculture. This would bring new innovative solutions to the aquaculture industry.
- In September 2022, Förde Garnelen, Aquafeed Germany, Protix, neomar, and Crusta Nova joined to launch a new shrimp feed produced from insect protein. This launch helped in expanding the product portfolio of the company.
- In February 2019, Ÿnsect announced that they had received an award from the Greentech et Mobilité from the 2019 Future Licornes Awards for their product innovation. Through this award, the company would gain more trust from its customers.
- In January 2023, Entocycle announced a USD 5 thousand investment in a funding round led by Climentum Capital. This investment aimed to roll out a suite of products and services to serve established insect companies and new entrants into the insect industry globally. This would help in attracting a large consumer base and expanding the company portfolio.
- In March 2020, Protix announced that Rabo Corporate Investments are investing in their company, and through the investment, the company would scale up the production of insects in the Netherlands.
Regional Analysis
Geographically, the countries covered in the Europe insect protein market are Germany, U.K., France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Poland, Denmark, and rest of Europe.
As per Data Bridge Market Research analysis:
U.K. is the dominant and fastest growing country in Europe sanitary ware market during the forecast period 2023 - 2030
In 2023, the U.K. is expected to dominate the Europe insect protein market with a 19.89% market share and is expected to reach USD 232,940.06 thousand by 2030, growing with a highest CAGR of 30.4% in the forecast period of 2023 to 2030 due to increasing investment in R&D.
For more detailed information about the Europe insect protein market report, click here – https://www.databridgemarketresearch.com/reports/europe-insect-protein-market
