Global Insect Protein Market size was US$ 157.62 million in 2021. The market is projected to grow from US$ 195.32 million in 2022 to US$ 865.08 million by 2029, exhibiting a CAGR of 24.4% during the forecast period.
Insects are an essential part of the daily diet of over 2 billion people worldwide. In addition to being rich in protein, insects are a source of essential fats, high-quality lipids, fibre, vitamins, and minerals such as iron and calcium. The most commonly used insect protein producers are mealworms such as black flies, grasshoppers, and crickets. Lipids can be used for biofuels, and by-products such as chitin have great potential in the pharmaceutical and bioplastics industries, whereas insect-derived proteins can mainly be used in food, pet food, fish and animal feed. Insects are a more useful source of protein compared to other plants and animals. Insects’ proteins are used in numerous products including food and beverages, pharmaceuticals, dietary supplements, cosmetics, pet food, pet, fish and poultry feed.
Get a Free Sample Copy of a Research Report: https://analyticsmarketresearch.com/sample-request/insect-protein-market/40378/
Growing consumer awareness of consuming nutritious foods and increasing preference for a healthy lifestyle are expected to drive up the demand for insect protein during the forecast period. Growing health consciousness has increased the demand for healthy and nutritious foods, and manufacturers from various industries are providing opportunities to provide such foods. Furthermore, rise in spending on functional foods, rise in sports and fitness enthusiasts, and consumers seeking healthy and sustainable food options are the major reasons expected to drive market growth during the forecast period.
Insect proteins have great potential in tackling world hunger as food demand increases with population growth. Insect proteins are widely used in animal feed production, food and beverage products, cosmetics and personal care. In addition, with the growing threat of global food shortages in Western countries, insects are being viewed as a new source of human food and animal feed.
The United States has captured the largest sales share in the North American market in 2020 due to high consumer awareness and the presence of health-conscious consumers. Additionally, more than half of the U.S. population suffers from one or more preventable chronic diseases, many of which result from poor diet and lack of exercise. This will increase the demand for healthy and nutritious foods across the country.
The outbreak pandemic has disrupted supply chains in various regions, including North America, while European countries such as the United States, United Kingdom, France and Germany are major markets for insect protein products. Insect proteins have seen slowed growth during the pandemic. However, it is expected to recover post-pandemic due to increased consumer awareness and health awareness.
Market Segmentation:
By Source
- Coleoptera
- Lepidoptera
- Hymenoptera
- Orthoptera
- Hemiptera
- Diptera
- Others
By Application
- Food & Beverages
- Animal Nutrition
- Pharmaceutical & Supplements
- Personal Care and Cosmetics
By Geography
- North America
o U.S.
o Canada
o Mexico
- Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
- Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
- Latin America
o Brazil
o Argentina
o Colombia
- MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Key Player:
Some prominent players in the global insect protein market include:
- InnovaFeed
- EnviroFlight
- Ynsect
- Hexafly
- Protix
- Aspire Food Group
- Chapul
- Nutrition Technologies
- Entomo Farms
- Goterra
- Other Players
Regional Analysis:
The Europe region accounted for the largest share of revenue in 2020 with over 35.0%. The European market has shown high consumer acceptance of insect proteins for applications such as food and beverage, animal nutrition and personal care industries. The recent approval of insect proteins for animal feed, including poultry and swine, is expected to further increase demand in the European market. High demand for insect proteins from developed countries such as France, Germany, and the UK is expected to drive the market during the forecast period.
Moreover, North America accounts for a significant share of 2020 sales. The market is projected to become the largest by 2028 due to demand for nutritious foods and growing consumer awareness of consuming insect-based products. Mexico and Canada have new players and new products with significant growth potential for launches, demand for insect proteins is expected to rise during the forecast period.
Asia-Pacific is expected to grow at a revenue-based CAGR of 25.05% during the forecast period, owing to the growing consumer base in countries such as India, China, and Thailand. Additionally, countries such as Thailand and Indonesia have a long history of insect consumption and are among the major producers of insects adding raw materials. Moreover, the presence of developing countries is expected to increase the demand for nutritious food during the forecast period.
Purchase Report: – https://analyticsmarketresearch.com/purchase/insect-protein-market/40378/?license=single
Reasons to Purchase this Report:
- Provision of market value (USD Billion) data for each segment and sub-segment.
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.
- Provides insight into the market through Value Chain.
- Market dynamics scenario, along with growth opportunities of the market in the years to come.
- 6-month post-sales analyst support.
Key Points:
- Define, describe and forecast Insect proteins market by type, application, end user and region.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide enterprise external environment analysis and PEST analysis.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Get the Detail Information: – https://analyticsmarketresearch.com/reports/insect-protein-market/40378/
About US:
Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep- rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Contact US:
Analytics Market Research
99 WALL STREET, #2124 NEW YORK, NY 10005
Phone: +1(650)-666-4592
Email: sales@analyticsmarketresearch.com
Web: https://analyticsmarketresearch.com/
