The global demand for Insect Protein Market is presumed to reach the market size of nearly USD 1170.09 MN by 2030 from USD 195.06 MN in 2022 with a CAGR of 25.1% under the study period of 2023 - 2030.
Insect protein can be obtained directly from the insect or indirectly through processed products. Insects with high protein content, such as crickets, mealworms, black soldier flies, grasshoppers, and ants, can be easily raised in areas with limited resources. Insects have long been a staple of traditional cuisine in more than 110 countries, with Southeast Asia having the highest concentration. Insect protein is a viable alternative to many animal and plant-based protein sources because its protein content is higher and can be produced at a low cost.
Market Dynamics
The shift in consumer preferences toward insect protein rather than animal and dairy protein due to rising sustainability concerns and increased private and public support for new protein sources in both developing and developed economies are key factors driving growth. The adoption of insect protein has been rising due to the growing need for protein alternatives among food and beverage manufacturers to meet growing consumer demand. Due to their high protein content, favourable fats, minerals, and vitamins, around 2,000 insect species are already consumed as part of a regular diet by humans and domestic animals worldwide. This has allowed food manufacturers to enter the market and launch various products, including protein bars, snacks, whey protein, mealworm cookies, cricket pasta, honey caterpillar croquettes, mixed insect snacks, and insect protein candies. Manufacturers and retailers are collaborating to increase visibility and awareness of insect protein-based products are propelling the market forward.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of insect protein. The growth and trends of Insect Protein Industry provide a holistic approach to this study.
Market Segmentation
This section of the insect protein market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Coleoptera
- Lepidoptera
- Hymenoptera
- Orthopetra
- Others
By Application
- Food And Beverages
- Animal Feed
- Pharmaceuticals & Cosmetics
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Insect Protein market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Insect Protein Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Insect Protein market include Aspire Food Group (Canada), Ynsect NL Nutrition & Health B.V. (Netherlands), EntomoFarms (Canada), Chapul Cricket Protein (U.S.), Jimini’s (France), EnviroFlight LLC (U.S.), Swarm Nutrition GmbH (Germany), AgriProtein Holdings Ltd (England), Next Protein Inc. (France), Innovafeed (France). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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