Global 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 (Food & Beverage, Feed, and Pharmaceuticals and Cosmetics), Distribution Channels (Direct and Indirect), – Industry Trends and Forecast to 2029
Insect Protein Market Analysis and Size
When compared to other animals and plants, insects are a better source of protein. Insect protein production is less expensive. In the beginning, insect protein was only used in animal feed. However, as more people become aware of the high protein content of insects, it has become widely used in a variety of industries. Insect protein is now used in a variety of products, including food and beverages, medicines, nutraceuticals, cosmetics, pet food, and animal and poultry feed. The protein found in insects varies depending on the species. Protein derived from insects is the most suitable option.
Data Bridge Market Research analyses that the 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. due to the high consumption of insect-derived food since ancient times, as well as the presence of a large livestock population that is fed insect protein products, the insect protein market dominates the market.
Market Definition
Insect protein is essentially traditional beer made in small breweries. It is high in silicon, antioxidants, protein, and vitamin B complex, and thus provides numerous health benefits. Ales, lagers, specialty beers, and other types of insect protein are among the most popular.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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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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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 (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 and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), Swarm Nutrition GmbH (Germany), AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US). Innovafeed (France), Ÿnsect (France), Hexafly (Ireland), Protix (Netherlands)
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Opportunities
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Insect Protein Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Wide availability of edible insects
Since insects are widely available, manufacturers have begun to commercialise insect farming and extract protein from them. Crickets, bamboo worm, bagworm, flies, earthworm, beetles, and ants, 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
- Less costly processing of insects
There are standard processing procedures for livestock, but none for insects; thus, manufacturers have a huge opportunity to devise a technology or equipment that can help in the processing of the insect with standard protocol in the insect protein market.
Opportunity
The market's overall growth has been tempered by changing consumer lifestyles and preferences. Furthermore, rapid urbanisation and an increasing population are expected to accelerate the market's overall growth.
Restraints
The consumption of insect protein by someone who is allergic to arthropods may result in a cross reaction or sensitivity. Furthermore, frequent contact with insects during farming or breeding may result in contact allergy in individuals, which is one of the major challenges faced by manufacturers in the insect protein market.
This insect protein market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the insect protein market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Insect Protein Market
The pandemic poses numerous challenges to the food industry; the global meat market has been severely impacted. The insect feed market has been impacted by factors such as the risk of continuing production, supply, distribution, a lack of workforce, and fewer development activities. People are not eating as much meat as they used to. This has exacerbated the meat industry's problem and increased demand for alternative substitutes such as edible insects and vegan products. However, long-term consumption of animal protein can be beneficial to human health. The insect protein industry is undergoing significant strategic changes. Thai Union Group (Thailand) announced a USD 30 million investment in alternative proteins and other food tech innovations in March 2020.
Recent Development
- Nutrition Technologies raised USD 5 million in a Pre-Series B funding round in March 2021 to establish an insect protein factory in Malaysia. The existing investors, Openspace Ventures and SEEDS Capital, the investment arm of Enterprise Singapore, participated in the investment. This investment could help the company enter new Southeast Asian markets and fund R&D.
- In November 2020, Portenga built smart insect farms that produce insect proteins that can be used as feed or fertiliser in agriculture. To overcome the cost and sustainability pitfalls of centralised insect-based farming systems, the smart insect farms are built in a modular and decentralised system near waste biomass sources. They are designed to take in 20-60 metric tonnes of feedstock per day.
- In November 2020, AgriProtein, a subsidiary of ITG, announced the formation of "Bioko!", a joint venture with PreZero US. PreZero, a German-based company, is a global recycler that is at the forefront of developing circular economy solutions from 90 locations in nine countries. The two companies have joined forces to form an operating entity in the United States for nutrient recycling processes.
Global Insect Protein Market Scope
The insect protein market is segmented on the basis of insect type, application, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
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
- Others
Application
- Food & beverage
- Feed
- Pharmaceuticals
- Cosmetics
Distribution channel
- Direct
- Indirect
Insect Protein Market Regional Analysis/Insights
The insect protein market is analysed and market size insights and trends are provided by country, insect type, application, and distribution channel as referenced above.
The countries covered in the insect protein market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific region dominates the insect protein market and will maintain its dominance throughout the forecast period, owing to rising beer demand and rising disposable income in the region from 2022 to 2029. North America, on the other hand, is expected to grow rapidly due to the increasing popularity of new flavours and the region's growing number of microbreweries with large volumetric production.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Insect Protein Market Share Analysis
The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to insect protein market.
Some of the major players operating in the insect protein market are:
- Aspire Food Group (US)
- EntomoFarms (Canada)
- Protifarm (Netherlands)
- Jimini’s (UK)
- Chapul Cricket Protein (US)
- Swarm Nutrition GmbH (Germany)
- AgriProtein Holdings Ltd. (South Africa)
- EnviroFlight LLC (US)
- Innovafeed (France)
- Ÿnsect (France)
- Hexafly (Ireland)
- Protix (Netherlands)
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