The insects are widely available and manufacturers have begun to commercialize insect farming and protein extraction from them. Crickets, bamboo worms, bagworms, flies, earthworms, beetles, ants, and wasps are some of the widely available edible insects that are driving the demand for insect protein and their application in the insect protein market.
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Data Bridge Market Research analyses that the insect protein market is expected to grow at a CAGR of 24.2% in the forecast period of 2020 to 2027 and is expected to reach USD 2,067.99 million by 2027.
Growing usage of insect protein is expected to drive the market's growth rate
Insect protein usage has been growing in the food and beverage industry, due to a rising need for protein alternatives among the food and beverage makers to meet increasing consumer demand. Furthermore, the feeding of animal products such as eggs, meat, and milk continues to climb due to high population growth and making the environmental sustainability a concern. The high protein content, minerals, vitamins and beneficial fats, around 2,000 bug species are already consumed as a part of a regular diet by domestic animals and humans worldwide.
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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2022 to 2027
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Base Year
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2019
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Historic Years
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2019 (Customizable to 2012 - 2017)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Insect Type (Beetles, Caterpillars, Bees, Wasps & Ants, Grasshoppers, Locusts, Crickets, True Bugs, Black Soldier Flies, Cicadas, Leafhoppers, Plant Hoppers, Scale Insects, Termites, Dragonflies, Flies, Mealworms and Others), Application (Food & Beverage, Feed, and Pharmaceuticals and Cosmetics), Distribution Channels (Direct and Indirect)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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Protifarm (Netherlands), Aspire Food Group (U.S.), Entomo Farms (Canada), PROTIX (Netherlands), Ÿnsect (France), Seek Food (U.S.), Thailand Unique (Thailand), BIOFLYTECH, Entobel, AgriProtein (South Africa), EnviroFlight, LLC (U.S.), Innovafeed (France), Hexafly (Ireland), Entocycle (U.K.), Chapul Cricket Protein (U.S.), nextProtein (France), Enterra Feed Corporation (Canada), Beta Hatch (U.S.)
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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 in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
Global insect protein market is categorized into three notable segments which are based on the basis of insect type, application and distribution channel.
- On the basis of type, the insect protein market is segmented into beetles, caterpillars, bees, wasps and ants, grasshoppers, locusts, crickets, cicadas, leafhoppers, planthoppers, scale insects, true bugs, termites, dragonflies, flies, mealworms, black soldiers, and others.
In 2020, beetles segment was dominating the insect protein market
Beetles segment is dominating the market with the market share of 29.64% due to the wide applications in food and beverage feed industry.
- On the basis of applications, the insect protein market is segmented into food and beverage, feed, and pharmaceuticals and cosmetics.
In 2020, feed segment is dominating the insect protein market
Feed segment is dominating the market with the market share of 23.4% due to the feed which is the only industry where application of insects or insect based protein was initially allowed by the countries.
- On the basis of distribution channels, the insect protein market is segmented into direct and indirect. In 2020, direct segment is dominating the market with the market share of 24.5% due to direct purchase of both food and feed products is preferred by the consumers.
Major Players
Data Bridge Market Research recognizes the following companies as the major Insect protein market players in Insect protein market are Protifarm (Netherlands), Aspire Food Group (U.S.), Entomo Farms (Canada), PROTIX (Netherlands), Ÿnsect (France), Seek Food (U.S.), Thailand Unique (Thailand), BIOFLYTECH, Entobel, AgriProtein (South Africa), EnviroFlight, LLC (U.S.), Innovafeed (France), Hexafly (Ireland), Entocycle (U.K.), Chapul Cricket Protein (U.S.), nextProtein (France), Enterra Feed Corporation (Canada), Beta Hatch (U.S.)
Market Development
- In November 2020, Portenga plans to build smart insect farms that will produce insect proteins that can be used as feed or fertilizer in agriculture. The smart insect farms are built in a modular and decentralized system near waste biomass sources to overcome the sustainability pitfalls of centralized insect-based farming systems and their cost. They are intended to accept 20-60 metric tonnes of feedstock per day.
- In November 2020, AgriProtein, an ITG subsidiary, announced the formation of "Bioko!". PreZero, a German-based company, is a global recycler with 90 locations in nine countries that is at the forefront of developing circular economy solutions.The two companies have joined forces to form an operating entity for nutrient recycling processes in the United States.
- In March 2021, Nutrition Technologies raised USD 5 million in a Pre-Series B funding round to establish an insect protein factory in Malaysia. The investment was made by SEEDS Capital and existing investors Openspace Ventures, the investment arm of Enterprise Singapore. This investment could help the company enter new Southeast Asian markets and fund research and development.
Regional Analysis
Geographically, the countries covered in the Insect protein market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
As per Data Bridge Market Research analysis:
North America is the dominant region in insect protein market during the forecast period 2020 - 2027
In 2019, North America dominated the insect protein market owing to the increasing popularity of new flavors and the region's growing number of microbreweries with large volumetric production.
Asia-Pacific is estimated to be the fastest-growing region in Insect protein market the forecast period 2020 - 2027
Asia-Pacific is expected to grow during the forecast period owing to rising beer demand and rising disposable income in the region from 2020 to 2027.
COVID-19 Impact Analysis
The pandemic has posed numerous challenges to the food industry, particularly the global meat market. People are eating less meat than they used to. This has worsened the problem of the meat industry and improved demand for alternative substitutes such as vegan products and edible insects. Long-term consumption of animal protein, on the other hand, may be beneficial to human health. The insect protein industry is undergoing major strategic shifts. In March 2020, Thai Union Group (Thailand) announced a USD 30 million investment in alternative proteins and other food tech inventions.This will help the market to grow in the post-pandemic era as well.
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