Insect Protein Market Analysis Of Global Trends, Demand And Competition 2020-2028

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Trusted Business Insights presents an updated and Latest Study on Insect Protein Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Insect Protein market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Insect Protein Market

The global insect protein market size was estimated at USD 210.7 million in 2018 and is projected to expand at a revenue-based CAGR of 25.1% during the forecast period. Shift in consumer preferences toward insect protein instead of animal and dairy protein, owing to the rising concerns regarding sustainability and increased private and public support for the new protein sources in both developing and developed economies are some of the key factors driving the growth.
Insect protein is derived either through the direct intake of complete insect or through processed products. Insects, such as crickets, mealworms, black soldier flies, grasshoppers, and ants contain excellent amount of protein, which can be easily brought up in limited accessibility of resources. These insects have been an essential part of traditional food in more than 110 countries, mainly concentrated in Southeast Asia.

Edible insects are, in general, rich in protein, fat, and energy and can be a significant source of vitamins and minerals. They are a sustainable alternative protein source in feed and food. Edible insects can contribute to food and feed security. They have a great potential as an environmentally friendly alternative for future food systems. Such advantages are projected to bode well for the demand in the forthcoming years.
From the manufacturing standpoint, insects are utilized for their high feed conversion efficiency. Crickets, for instance, require approximately 2 kg of feed to gain about 1 kg of body weight. In addition, other omnivorous insects are typically reared on organic waste. Thus, insects score high when it comes to feed conversion efficiency over pigs or cattle. Such factors have been encouraging prospective protein ingredient manufacturers to tap into the marketspace for insect protein.
Animal nutrition is a major industry for the European insect protein manufacturers. In pet food section, the product is well-suited to the particular needs of pets such as cat, dog, and fish, owing to the high palatability and digestibility. Numerous European pet food companies are integrating insects into their feed formula, notably as a means to diversify their product range e.g. in hypoallergenic products. This trend is expected to continue to grow in the next few years, fueling growth of the overall market.

Application Insights of Global Insect Protein Market

On the basis of application, the insect protein market can be segmented into food and beverages, personal care and cosmetics, and animal nutrition. Owing to the increasing need of protein alternatives by the food and beverage producers to cater to the growing consumer demand, the adoption of insect-based protein has been rising in several food and beverages applications, such as bakery, dietary supplements, and snacks.
Rising demand for insect-based ingredients in animal nutrition segment is anticipated to create growth avenues for the market over the forecast period. Insect-based ingredients are being extensively used in cat and dog food around the world owing to rising awareness regarding various studies suggesting the benefits of these ingredients for maintaining overall pet health.
Insect protein is becoming more appealing to vegetarian cat owners as cats require taurine, a vital amino acid found in meat and fish. However, insect based pet food is more expensive than various budget meal options. This factor is expected to restrain the demand for insect protein within the animal nutrition segment over the forecast period.

Product Insights of Global Insect Protein Market

On the basis of product, the insect protein market is segmented into Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, and Diptera, among others.Coleoptera refers to the insect order consisting of beetles and weevils. It is the largest order of insects representing about 40% of the species. Edible beetles have been traditionally consumed in various countries owing to their high protein content. For instance, in China, Holotrichia parallela Motschulsky (Coleoptera: Scarabaeoidea), an edible beetle species, has been traditionally consumed for its high nutrition. While the consumption of live insects of such species has been prevalent, the extraction of proteins from them is relatively a new concept.

Within the Coleoptera order, mealworms, especially the larval form of mealworm beetleare among the most widely used species to extract protein. Mealworms are typically utilized to extract powders that find application in pet food and animal feed industries. Rising demand for mealworm ingredients in these end-use industries is expected to create growth opportunities for the prominent players operating in the market. For instance, ŸNSECT, a France-based insect products manufacturing company, recently launched its fourth funding round to open a new production facility in the country and to expand its operations in North America and Europe. This company offers mealworm-based ingredients for both pets and livestock. Such initiatives are expected to strengthen the Coleoptera segment in near future.

Regional Insights of Global Insect Protein Market

Europe accounted for the largest market share in 2018 and is expected to witness leading over the forecast period. The region is considered to be an eminent market for insect protein as is among the key ingredients consumed in food applications across the middle-age and old-age consumers in Europe. Insect protein is principally used for dietary and nutritional supplements in the region. However, the Europe market is yet to realize its full potential in the beverages space. Increasing demand for insect protein in major markets including Germany and U.K. on account of rising importance of fiber-fortified products is anticipated to impact market growth positively, though at a lower rate owing to maturity of industries.
Products targeting health and mental well-being have prompted the food industry to increase new food R&D initiatives in North America. Despite the uncertainties of existing regulations, outlining the context of a rapidly expanding market in major countries such as U.S. and Mexico. The market for insect protein is also expected to witness growth on account of the changes in food regulations, growing self-care movement, and overwhelming scientific evidence highlighting the critical link between diet and health.
Insect Protein Market Share Insights
The market is concentrated and competitive in nature with various large-scale and small-scale manufacturers present in the France, Denmark, U.S. and Canada. Major players engaging in various business strategies such as mergers, acquisitions, capital expansion, and strategic alliances. Major players are concentrating on expanding their total market and productivity through technological innovation. Key market players include Aspire Food Group Protifarm, EntomoFarms, Chapul Cricket Protein, Jiminis, and Swarm Nutrition GmbH, EnviroFlight LLC, AgriProtein Holdings Ltd. Ÿnsect, Hexafly, Innovafeed, and Protix.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Insect Protein Market Research Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global insect protein market report on the basis of product, application, and region:

Product Outlook (Volume, Tons; Revenue, USD Thousand, 2019 – 2030)

Coleoptera

Lepidoptera

Hymenoptera

Orthoptera

Hemiptera

Diptera

Others

Application Outlook (Volume, Tons; Revenue, USD Thousand, 2019 – 2030)

Food & Beverages

Animal Nutrition

Personal Care & Cosmetics

Others

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