Factors driving the market includes the change in preference from animal to alternative proteins such as insect protein is due to increased concerns over future sustainability and increased public and private investment for research projects in both developed and developing economies is expected to fuel up the market in upcoming years.
Market Size – USD 152 million in 2018, Market Growth – CAGR of 38%, Market Trends – Increase in usage as aqua fed as a replacement for fish meal, rise in demand for protein in sports nutrition industry.
According to the current analysis of Reports and Data, the global Insect protein market is estimated to grow at a CAGR of 38% and reach USD 1.4 billion by 2026. Insect protein is high-quality protein-rich product. In a contrast of beef and cricket, crickets contain about 69% protein, while beef is supposed to have only 29%. Crickets contain nine crucial amino acids, alongside with B12, iron, zinc, magnesium, sodium, potassium and calcium. Cricket flour comprises more calcium than milk and more iron than spinach. Over half of fish consumed around the world are farmed, and could make high fish diet because they are a natural food source for fish. They are also a natural food source for poultry, and the exoskeleton of insects comprises a substance known as chitin, which is a polysaccharide. Chitin naturally increases the immune system of poultry, thus eradicating the need for antibiotics, which escalates the food chain into humans.
By Insect type, Crickets, Black Soldier Flies, Mealworms, Ants, among others are considered in the study for industry. By application it is segmented into food and beverages, animal nutrition, pharmaceutical, & Cosmetics. By Form type, whole, powder, oil among others are also considered in the report.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Insect Protein Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
Animal Nutrition Industry is expected to have a CAGR of 45% from 2019-2026 to meet that demand; agricultural producers are fueling up their operations by growing herd sizes and obtaining the best feed to improve meat quality.
By type, Crickets have got a significant share in 2018. Cricket contains the highest protein percentage as compared with other insects and widely used in powder form in sports nutrition industry.
The mealworm segment is expected to witness the fastest-growing segment with a CAGR of 24.00% during the forecast period; they are considered healthy due to their high protein and fat content. The dried mealworm is reflected to have around 53% protein, while live worms have approximately 20%.
Insect protein powders are mainly used as protein bars and snacks in the B2C segment were it is used as a food additive. There have been continued product launches followed by rising demand for nutritional foods.
European Commission officially approved the use of insect protein as a new feed form of aquaculture feed. Approval by the European Commission followed by the Canadian Food Inspection Agency (CFIA) approval of use of insects as a constituent in Salmon feed.
In February 2018, Protifarm launched 100% pure buffalo insect powder, which can be used in a wide variety of food formulations. This product launch expanded the company’s product portfolio
Restaurants and supermarkets around the world are already serving up edible insects, making the category to be a lucrative option for food industry giants such as Nestle, PepsiCo, and Tyson.
The nutrition offered by the constituent includes monounsaturated (MUFA) and polyunsaturated fatty acids (PUFA), vitamins and minerals, including as zinc, iron, magnesium, copper, biotin, selenium, and pantothenic acid.
In October 2018, Entomo Farms received funding from Maple Leaf Foods, a non-profit corporation named Community Futures Peterborough, and the Southern Ontario Fund to expand its production facility and enhance the automation and innovation capabilities
Key participants includes Agriprotein Holdings Ltd., Enviroflight LLC, Innovafeed, Ynsect, Hexafly, Protix, Jiminis’s, Entomo Farms, Aspire Food Group, Protifarm . For the purpose of this report, Reports and Data has segmented the market on the basis of Insect type, Application, Form and region.
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For the purpose of this study, the global Insect Protein market has been segmented on the basis of disease type, application, distribution channel, and region:
Insect Type (Revenue, USD Million; 2016–2026)
Crickets
Black Soldier Flies
Mealworms
Grasshoppers
Ants
Other
Application (Revenue, USD Million; 2016–2026)
Food and Beverage
Animal Nutrition
Pharmaceutical & Cosmetics
Others
Form (Revenue, USD Million; 2016–2026)
Whole Insect
Powder
Oil
Others
By Region (Revenue, USD Million; 2017-2027)
North America
- U.S.
- Canada
Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of Middle East & Africa
Key Coverage of the Report:
An in-depth analysis of the historical years and the forecast period has been offered in the report
Insect Protein Market dynamics, including key drivers, challenges, restraints, threats, and growth opportunities have been analyzed in reports
SWOT analysis and Porter’s Five Forces analysis with feasibility analysis and investment return analysis
Competitive landscape benchmarking along with a comprehensive overview of their company profiles, product portfolios, strategic business decisions, and financial standings
The report covers mergers and acquisitions, product launches and brand promotions, joint ventures, collaborations, and partnerships among few
Pictorial representation of the key statistical data into graphs, tables, charts, diagrams, and figures
An in-depth analysis of the current and emerging market trends and developmental patterns
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