Asia-Pacific Insect Protein Market, By 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 (Feed, Food & Beverage, Pharmaceuticals and Cosmetics), Distribution Channel (Direct and Indirect), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Insect protein market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 22.1% in the forecast period of 2020 to 2027 and is expected to reach USD 855.85 million by 2027. Growing consumption of insect protein in form of snacks, cookies, energy bars, and others is one of the major factors driving the growth of insect protein market in Asia-Pacific.
The wide availability of insects has prompted the manufacturers to commercialize the insect farming and process protein from it. Some of the widely available edible insects include crickets, bamboo worm, bagworm, flies, earthworm, beetles, ants, wasps that are driving the demand for insect protein and their application in insect protein market. The different regulations in different countries and lack of proper processing and rearing guidelines are expected to restrict the growth of the insect protein market.
There is standard processing procedure for livestock but there are none for the insects, thus, this provide huge opportunity to the manufacturers to device a technology or equipment that can help in the processing of the insect with standard protocol in the insect protein market. The consumption of insect protein by a person having arthropod allergies might results in cross reaction or sensitivity. Additionally, frequent exposure to insect during farming or breeding may also lead to contact allergy in individual which is one of the major challenge faced by the manufacturing firm in the insect protein market.
This insect protein market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the insect protein market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Insect protein market is segmented on the basis of basis of insect type, application, and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of insect type, the insect protein market is segmented into 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. In 2020, beetles segment is dominating the insect protein market as it has wide applications in food & beverage industry which is easily available.
- On the basis of application, the insect protein market is segmented into food & beverage, feed, pharmaceuticals and cosmetics. In 2020, feed segment is dominating the insect protein market as insect protein is very popular for feeding livestock in Asian countries.
- On the basis of distribution channel, the insect protein market is segmented into direct and indirect. In 2020, direct distribution channel is dominating the insect protein market since the direct purchase of both food and feed products is preferred by the consumers.
Insect Protein Market Country Level Analysis
Insect protein market is analysed and market size information is provided by country, insect type, application and distribution channel as referenced above.
The countries covered in Asia-Pacific insect protein market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, New Zealand, Vietnam, and rest of Asia-Pacific.
- In Asia-Pacific, China has occupied the highest market share due to the wide consumption of insect-based products such as cookies, snacks, pasta, and others and huge application of insect protein in aquaculture feed. After China, majority of the market share is taken by Vietnam as insect protein or insect based food consumption is followed here since ancient time and is expected to grow further with rising animal feed industry in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Insect Protein Market Share Analysis
Insect protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to insect protein market.
The major players covered in the Asia-Pacific insect protein market report are AgriProtein, Entobel, Global Bugs, Thailand Unique, Haocheng Mealworms Inc., EnviroFlight, LLC, among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Marketing and participation in the events are also initiated by the companies worldwide which are also accelerating the growth of insect protein market.
- In June 2020, Global Bugs published a blog about Thai cricket industry for the sustainable food chain. Through such blogs, the company is trying to promote their products in the market.
- In April 2018, Entobel won the Aaquaculture innovation Challenge award for their product innovation. By participating in such events, the company wants to promote its product to the whole world.
Partnership, acquisition and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for insect protein.
Customization Available: Asia-Pacific Insect Protein Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.