Insect Protein Market: Industry Forecast (2023-2029)

Insect Protein Market size was valued at US$ 517.70 Mn. in 2022 and revenue is expected to grow by 25.2% from 2023 to 2029, reaching nearly US$ 2496.39 Mn. Insects are a superior source of protein to other animals and plants. Additionally, the cost of producing insect protein is lower. Insect protein was once only utilized in animal feed. However, the high protein content of insects has started to be widely utilized in a variety of industries as more people become aware of this fact. In the current economy, insect protein can be found in a wide range of goods, such as food and drink, pharmaceuticals, nutraceuticals, cosmetics, pet food, and animal and poultry feed. Increased population, rising urbanization, rising venture capital investments in companies producing alternative proteins, technological advancements in the food industry, the high nutritional value of edible insects, and environmental sustainability in the production and consumption of alternative proteins are driving the insect protein market.

Report Scope:

The report provides a complete analysis of the global Insect Protein Market. The report forecasts revenue growth at global, regional & country levels & provides a detailed analysis on the latest trends in each of the segments from 2022 to 2029. It offers qualitative & quantitative analysis of Insect Protein market & comprehensive review of key market drivers, restraints, opportunities, challenges, & market trends of the market. It also covers various important aspects of the market. Additionally report consists of an analysis of the value chain, PESTLE Analysis, Porter’s Five Forces model, competitive landscape, Key players benchmarking (by Type, Pricing, Investments, Expansion Plans, Physical Presence and Presence in the Market), market dynamics, market forecasts in terms of value & future trends in the Insect Protein market.Insect Protein MarketTo Know About The Research Methodology :- Request Free Sample Report

Insect Protein Market Dynamics:

Rising customer awareness about nutrient-dense foods During the forecast period, demand for insect protein is expected to be driven by rising consumer awareness of the consumption of nutrient-dense foods & rising inclination for a healthy lifestyle. The increased demand for wholesome food products due to rising health consciousness among customers worldwide has given manufacturers in a variety of industries the chance to sell such foods. Given the rising need for food that comes along with an increasing global population, insect protein has great potential to help end world hunger. There are numerous uses for insect protein, including the manufacturing of animal feed, foods & beverages, cosmetics, and personal care items. In western countries, insects are also being investigated as a potential source of human food & animal feed due to the mounting concerns to the world's food crisis. Due to the high consumer awareness level & the existence of consumers who are concerned about their health, the U.S. accounted for the highest revenue share in the North American insect protein market in the year 2022. In addition, more than 50% of Americans have one or more chronic diseases that can be prevented, many of which are brought on by unhealthy eating habits & inactivity. Because of these reason, there is a rising national need for wholesome food products. Additionally, customers are very concern about their food as well as how it is made & where it comes from. Some of the main factors expected to boost insect protein market growth during the forecast period include rising expenditure on functional food products, an increase in the number of sports & gym enthusiasts, and consumers searching for healthy and sustainable food options. The pandemic impacted the supply chain in a number of regions, including North America & Europe, where the U.S., the U.K., France, & Germany are the top markets for products containing insect protein. Insect protein experienced a modest increase during the pandemic but is expected to recover after the epidemic due to rising consumer knowledge & health consciousness.Insect Protein MarketInsect protein supply chain disruption due to COVID-19 will slow growth The majority of nations throughout the world have been impacted by COVID 19. Lockdowns brought on by COVID-19 had a negative impact on the growth of the global insect protein sector. The pandemic brought about a number of difficulties for the food industry; the global beef market has been particularly hard damaged. The insect protein market has been concerned about the risk of ongoing production, supply, distribution, a lack of labour, and fewer development activities. After affecting 114 nations on March 11, 2020, the WHO declared the COVID-19 outbreak to be a pandemic. As a result, there may be a change in the foods that consumers choose to eat, especially with regard to foods that come from animals. As a result, it is expected that consumption of strange items of animal origin like insects will be rejected more frequently. The possibility of zoonotic illnesses spreading to humans is a concern in the case of insects used as food and feed. Although it has not been documented that these viruses can be spread through ingestion, it is known that insects can carry viruses and directly inject them into humans' blood.

Market Trends:

Increased Demand for Alternative Protein Sources Due to Next-Generation Plant-Based Meats & On-the-Go Protein Snacks The demand for protein among consumers is driving growth & change in the global insect protein market. Today's consumers may find protein in anything from next-generation plant-based meats to on-the-go protein snacks to dairy protein that is bioactive for sports performance. The growing & intense interest of consumers in protein is leading to the creation of new, attractive business prospects that touch on the dietary diversity of proteins, their functional advantages, and new protein sources. As the world's population & standard of living rise, so does the demand for protein as a food & nutritional element. The use of insect-based protein in the food and beverage industry has been growing as a result of food and beverage businesses' increasing need for alternative proteins to meet customers' rising demand. Demand for Alternative Proteins is growing Rising urbanization, increasing venture capital investments in companies producing alternative proteins, technological advancements in the food industry, the high nutritional value of edible insects, & environmental sustainability in the production & consumption of alternative proteins are some of the factors driving Insect Protein market. New product introductions and a rising propensity for a vegan diet also contribute to the market's growth. However, the high cost of alternative proteins & the widespread preference for products made from animals limit market growth to some extent. On the other hand, the market for alternative proteins around the world is being challenged by increasing soy- and gluten-free trends.

Insect Protein Market Segment Analysis

In the year 2022, animal nutrition had the highest revenue share more than 75.0%. The main use of insect protein is as an ingredient in chicken, aquatic, & other animal feed. The demand from manufacturers of animal feed for high digestibility band amino acid & protein content ranging from 40% to 70% is rising. The profitable insect protein market sectors for manufacturers include aquaculture & pet food. The second-largest end use segment in the year 2022 is the food & beverage segment which is expected to grow significantly during the forecast period. Some of the products for use in the food & beverage business include functional food items, nutritious bars, & protein-rich goods. It is expected that the proliferation of nations that permit the consumption of insects will drive insect protein market growth. In the personal care & cosmetics sector, insect protein is frequently employed as an alternate source of fats in skincare products. The cosmetics industry has been under pressure in recent years to utilize more natural & sustainable raw materials as a result of the escalating environmental problems that also affect the development of the product.Insect Protein MarketInsect Protein Market Regional Insights: The Europe region held the largest revenue share over 31.0% in the year 2022. Insect protein is more widely accepted by consumers in the European market for uses in the food & beverage, animal nutrition, & personal care industries. The recent approval of insect protein for use in animal feed, especially which for pigs & poultry, is expected to increase demand in the European insect protein market. The market is expected to be driven by the high demand for insect protein from developed nations like France, Germany, and the UK during the forecast period. North America contributed significantly to insect protein market revenue. Due to rising consumer knowledge about the consumption of insect-based goods & the demand for nutrient-dense food products, the insect protein market is expected to be the largest by the end of 2029. The demand for insect protein is expected to increase due to Mexico & Canada's enormous growth potential for new players and product launches. Due to the increasing customer bases in countries like India, China, & Thailand, the Asia Pacific area is expected to grow at a revenue-based CAGR of 29.05% during the forecast period. In addition, nations like Thailand and Indonesia are among the major producers of insects used as raw materials and have a long history of insect consumption. Additionally, it is projected that over the course of the forecast period, the presence of developing nations would fuel demand for nutrient-dense food items.

Insect Protein Market Scope: Inquiry before Buying

Insect Protein Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 517.70Mn.
Forecast Period 2023 to 2029 CAGR: 25.2% Market Size in 2029: US $ 2496.39 Mn.
Segments Covered: by Insect Type Crickets Wasps Bees Silkworm Ants Earthworms Scorpions Others (Locusts, Stink Bugs, Water Bugs, Mealworms, Bagworms)
by End-use Food & Beverages Animal Nutrition Pharmaceutical & Supplements Personal Care and Cosmetics
by Source Coleoptera Lepidoptera Hymenoptera Orthoptera Hemiptera Diptera Others
by Distribution Channel Online Offline

Insect Protein Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Insect Protein Market Key Players

1. Entomo Farms 2. Exoprotein 3. Nutribug 4. Protix 5. Proti-Farm 6. Coast Protein 7. Aketta 8. C-fu Foods 9. EnviroFlight, LCC 10.nextProtein 11.Thailand Unique 12.Proti-Farm Holding NV 13.Chapul, LLC 14.Cricket Flours LLC 15.Crik Nutrition 16.Seek Food LLC 17.Haocheng Mealworms Inc. 18.Others FAQs: 1. What is the study period of the market? Ans. The Global Insect Protein Market is studied from 2018-2029. 2. What is the growth rate of Insect Protein Market? Ans. The Insect Protein Market is growing at a CAGR of 25.2% over forecast period. 3. What is the market size of the Insect Protein Market by 2029? Ans. The market size of the Insect Protein Market by 2029 is expected to reach at USD 2496.39Mn. 4. What is the forecast period for the Insect Protein Market? Ans. The forecast period for the Insect Protein Market is 2023-2029. 5. What was the market size of the Insect Protein Market in 2022? Ans. The market size of the Insect Protein Market in 2022 was valued at USD 517.70 Mn.
1. Global Insect Protein Market: Research Methodology 2. Global Insect Protein Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Insect Protein Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Insect Protein Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Insect Protein Market Segmentation 4.1 Global Insect Protein Market, by Insect Type (2021-2029) • Crickets • Wasps • Bees • Silkworm • Ants • Earthworms • Scorpions • Others (Locusts, Stink Bugs, Water Bugs, Mealworms, Bagworms) 4.2 Global Insect Protein Market, by End-use (2021-2029) • Food & Beverages • Animal Nutrition • Pharmaceutical & Supplements • Personal Care and Cosmetics 4.3 Global Insect Protein Market, by Source (2021-2029) • Coleoptera • Lepidoptera • Hymenoptera • Orthoptera • Hemiptera • Diptera • Others 4.4 Global Insect Protein Market, by Distribution Channel  (2021-2029) • Online • Offline 5. North America Insect Protein Market(2021-2029) 5.1 North America Insect Protein Market, by Insect Type (2021-2029) • Crickets • Wasps • Bees • Silkworm • Ants • Earthworms • Scorpions • Others (Locusts, Stink Bugs, Water Bugs, Mealworms, Bagworms) 5.2 North America Insect Protein Market, by End-use (2021-2029) • Food & Beverages • Animal Nutrition • Pharmaceutical & Supplements • Personal Care and Cosmetics 5.3 North America Insect Protein Market, by Source (2021-2029) • Coleoptera • Lepidoptera • Hymenoptera • Orthoptera • Hemiptera • Diptera • Others 5.4 North America Insect Protein Market, by Distribution Channel  (2021-2029) • Online • Offline 5.5 North America Insect Protein Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Insect Protein Market (2021-2029) 6.1. European Insect Protein Market, by Insect Type (2021-2029) 6.2. European Insect Protein Market, by End-use (2021-2029) 6.3. European Insect Protein Market, by Source (2021-2029) 6.4. European Insect Protein Market, by Distribution Channel  (2021-2029) 6.5. European Insect Protein Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Insect Protein Market (2021-2029) 7.1. Asia Pacific Insect Protein Market, by Insect Type (2021-2029) 7.2. Asia Pacific Insect Protein Market, by End-use (2021-2029) 7.3. Asia Pacific Insect Protein Market, by Source (2021-2029) 7.4. Asia Pacific Insect Protein Market, by Distribution Channel  (2021-2029) 7.5. Asia Pacific Insect Protein Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Insect Protein Market (2021-2029) 8.1 Middle East and Africa Insect Protein Market, by Insect Type (2021-2029) 8.2. Middle East and Africa Insect Protein Market, by End-use (2021-2029) 8.3. Middle East and Africa Insect Protein Market, by Source (2021-2029) 8.4. Middle East and Africa Insect Protein Market, by Distribution Channel  (2021-2029) 8.5. Middle East and Africa Insect Protein Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Insect Protein Market (2021-2029) 9.1. South America Insect Protein Market, by Insect Type (2021-2029) 9.2. South America Insect Protein Market, by End-use (2021-2029) 9.3. South America Insect Protein Market, by Source (2021-2029) 9.4. South America Insect Protein Market, by Distribution Channel  (2021-2029) 9.5. South America Insect Protein Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Entomo Farms 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Exoprotein 10.3 Nutribug 10.4 Protix 10.5 Proti-Farm 10.6 Coast Protein 10.7 Aketta 10.8 C-fu Foods 10.9 EnviroFlight, LCC 10.10 nextProtein 10.11 Thailand Unique 10.12 Proti-Farm Holding NV 10.13 Chapul, LLC 10.14 Cricket Flours LLC 10.15 Crik Nutrition 10.16 Seek Food LLC 10.17 Haocheng Mealworms Inc. 10.18 Others

About This Report

Report ID 86440
Category Food & Beverages
Published Date April 2023
Updated Date
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