Insect Protein Market - by Insect Type (Crickets, Mealworms, Grasshoppers, Ants, Bees, Termites, Black Soldier Fly, Silkworm, Houseflies, Cicadas, & Others), by Application (Human & Animal Nutrition) and Region – Industry Forecast 2027
|ID: VPR/F&B/1024||Publishing Year: September 2021||Pages: 103||Format:|
Insect Protein Market Overview:
The Insect Protein Market is projected to grow from USD 135 billion in 2020 to reach USD 390 billion by 2027; it is expected to grow at a CAGR of 16.36% from 2020 to 2027.
In general, edible insects are high in protein, fat, and energy, and they can also be a good source of vitamins and minerals. In feed and food, they are a sustainable alternative protein source. Food and feed security can be improved by eating edible insects. They have a lot of potential as an environmentally friendly food system in the future. Such benefits are expected to boost demand in the future years.
Insects are used in the production process because of their high feed conversion efficiency. For example, crickets take around 2 kg of food to gain 1 kg of body weight. Other omnivorous insects, on the other hand, are commonly raised on organic garbage. As a result, insects outperform pigs and cattle in terms of feeding conversion efficiency. As a result of these circumstances, prospective protein ingredient manufacturers have been encouraged to enter the Insect Protein Market.
Animal nutrition is a big business for Insect Protein producers in Europe. Because of its great palatability and digestibility, the product is well-suited to the specific needs of pets such as cats, dogs, and fish in the pet food category. Insects are being incorporated into the feed formulas of a number of European pet food firms, mostly as a way to expand their product range, such as in hypoallergenic goods. This tendency is projected to continue in the next years, boosting the total Insect Protein Market Growth.
The key companies in the Insect Protein Market for the food application include Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany), while key companies in the feed application include AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ÿnsect (France), Hexafly (Ireland), and Protix (Netherlands).
Insects that are edible have high protein content. Conventional protein synthesis is conceivable through a potential source, insects, which are available both directly for human consumption and indirectly through food products containing insect-derived protein. It is feasible for these insects to grow even on organic trash, which is an extra benefit. Furthermore, as compared to conventional livestock, they emit fewer greenhouse gases and ammonia. As a result of all of these benefits, edible insects are widely used as a protein source.
Nutritional Needs of Insects:
The Insect Protein Industry has been increasing because to rising health consciousness among individuals and athletes' thirst for protein bars, powders, and mixes.
Insects serve as an alternate source of food for people who are hungry. They also provide as an easy-to-grow food choice when space is limited. The insect protein can be used in a variety of dishes, including soups, smoothies, and baked products. Crickets are widely utilised in the edible insect industry to make chips, pastas, and protein bars, among other things.
Exo has been bought by Aspire Food Group. The product line of cricket-based protein bars is being combined with edible insect farming operations in this method.
Insect Protein is classified by Insect Type, Application, and Distribution Channel in the Insect Protein Market. The growth of segments allows you to analyse specific pockets of growth and market approaches, as well as establish your main application areas and target market differences.
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 make up the Insect Protein Industry. The Insect Protein Market is dominated by beetles, which have a wide range of applications in the food and beverage industry and are readily available.
The Insect Protein Market is divided into four categories based on application: food & beverage, feed, medicines, and cosmetics. The insect protein market is dominated by the feed segment, as Insect Protein is widely used to feed livestock in Asian countries.
In 2020, Europe had the biggest Insect Protein Market Share, and it is predicted to continue to lead over the forecast period. The region is regarded as a leading Insect Protein Market, which is one of the most commonly used ingredients in cuisine among middle-aged and elderly Europeans. In the region, Insect Protein is mostly employed in food and nutritional supplements. However, the European market for beverages has yet to reach its full potential. Increasing demand for Insect Protein in important markets such as Germany and the United Kingdom due to the growing importance of fiber-fortified goods is expected to have a favourable impact on market growth, though at a slower rate due to industry maturity. The food sector in North America has increased new food R&D projects as a result of products that target health and mental well-being.
Frequently Asked Questions
Type Here for table of content.