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The insect protein market size is projected to increase by USD 2.81 billion, at a CAGR of 45.88% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for sustainable sources of protein in response to the rising awareness of environmental sustainability and animal welfare concerns. Product diversification and innovation, including the development of new insect species for protein production and the introduction of various forms of insect protein products, are also key market trends. However, inconsistency in government regulations related to insect proteins and GMO food poses a challenge to market growth. Despite these challenges, the market is expected to continue expanding due to its potential to address the global protein demand while reducing the environmental impact of traditional animal farming.
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The insect protein market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market share growth by the animal nutrition segment will be significant during the forecast period. The market is witnessing significant growth due to the increasing demand for healthy living, food security, and environmental sustainability. Insect protein, derived from diptera-based protein, coleoptera, and orthoptera, among others, is gaining popularity as a nutritious and sustainable alternative protein source. The health benefits associated with insect protein, such as its high protein content, diverse profiles of amino acids, and minimal environmental impact, make it an attractive option for various applications. In the realm of human nutrition, insect protein is being explored as a culinary ingredient in protein bars, energy drinks, and other food products. In the pet food industry, it is being used as an alternative to traditional animal-derived protein sources. However, the largest and fastest growing application segment is insect protein in animal nutrition. The demand for sustainable protein alternatives in animal feed for livestock, poultry meat, fish, and pet food is driving the growth of this market. Insect protein is also gaining traction in the aquaculture industry due to its high nutritional richness and minimal carbon footprint.
The animal nutrition segment was valued at USD 148.00 million in 2018.
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Further, insect protein, with its nutritional richness and minimal environmental impact, is an ideal solution for this growing demand. Despite the numerous benefits, the insect protein market also faces challenges such as allergic reactions and microbial risks. However, advancements in automation, biotechnology, vertical farming, AI optimization, and processing techniques are helping to mitigate these challenges. Companies are investing in these technologies to improve the production and processing of insect protein, making it a more efficient and viable protein source for the future. In conclusion, the insect protein market is poised for significant growth in the coming years due to its nutritional value, sustainability profile, and minimal environmental impact. The demand for sustainable protein alternatives in animal nutrition, human nutrition, and pet food is driving the growth of this market, and advancements in technology are helping to mitigate the challenges associated with its production and processing.
Europe is estimated to contribute 32% to the growth of the global market during the forecast period
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Technavio's analysts have elaborately explained the regional market trends and analysis, and drivers that shape the market during the forecast period. In Europe, the market is expanding at a significant rate due to a number of factors. For instance, the investigation of alternative protein sources, such as insects, is being driven by the rising demand for sustainable and healthy food options. When compared with conventional livestock, insects are a more environmentally friendly option because they require considerably less land, water, and feed to produce the product. Insects are also an extremely nutrient-dense food source.
Additionally, the recent approval of insect consumption in the EU has created new market opportunities for food products containing insects. Consumer confidence in the quality and safety of these products has increased as a result of this regulatory change, which has improved the operating environment for businesses that manufacture food products made from insects. These factors are expected to drive regional insect protein market growth during the forecast period.
The market is witnessing significant growth due to its association with healthy living, food security, and environmental sustainability. Insect protein, derived from various insect types such as diptera-based protein (flies), coleoptera (beetles), and orthoptera (grasshoppers), is gaining popularity as an alternative protein source with a high protein content. This nutrient-rich ingredient is used as a culinary ingredient in various food applications, including protein bars, energy drinks, and pet food. The market for insect protein is driven by the increasing demand for sustainable protein alternatives with a lower carbon footprint compared to traditional animal farming. Health-conscious consumers are increasingly seeking efficient protein sources with minimal allergic reactions and microbial risk. Insect farming, with its ability to produce protein with less water and feed, is an attractive solution for addressing animal welfare concerns and cultural resistance. Insect protein market players are focusing on strategic alliances and processing techniques to cater to the growing demand for this nutritious ingredient in human nutrition, animal feed, and aquaculture industries. Despite the challenges, including allergy concerns and regulatory hurdles, the market for insect protein is expected to continue its growth trajectory in the coming years.
Increasing demand for sustainable protein sources is a major factor driving insect protein market growth. The demand for this product as an environmentally friendly alternative to conventional livestock farming is rising. Insect farming, particularly cricket farming, requires significantly less land, water, and feed compared to traditional livestock like cows or pigs.
Further, this sustainability benefit appeals to environmentally-conscious consumers, driving the demand for these products. As a result, the insect protein market is expected to expand during the forecast period.
Product diversification and innovation is a key trend in the market. Manufacturers in the market are expanding their product offerings to cater to diverse niche markets and consumer preferences. They are introducing various insect protein-based products, including protein powders, bars, refreshments, baked goods, and even pet food. Companies are producing protein bars and chips made from crickets, targeting environmentally and health-conscious consumers.
Moreover, players like EntoBreed and Ynsect are developing insect-based protein sources for the aquaculture and livestock sectors. It is also utilized in pet food and animal feed. This trend highlights the increasing demand for nutrient-rich, eco-friendly, and sustainable protein alternatives, driving innovation and market diversification in the industry worldwide. These developments are expected to fuel insect protein market growth during the forecast period.
Inconsistency in government regulations related to this product is a major factor hindering market growth. The market encounters challenges due to varying regulatory environments across different countries and regions. Certain regions have strict restrictions or prohibitions on the harvesting and processing of insects for human consumption or animal feed, limiting market growth. For example, Europe's Novel Food Regulation imposes lengthy approval procedures and authorization requirements for the use of insects as food or feed. In the United States, the Food and Drug Administration (FDA) provides limited guidance on insect consumption in food and feed, creating uncertainty for the manufacturers.
Moreover, cultural differences also play a role in customer acceptance of insect-based products, further complicating the regulatory landscape and hindering market expansion in some areas. These contradictory regulations pose difficulties for companies operating in the market, restricting new entrants and limiting market growth. The presence of inconsistent government regulations in different countries and regions stands as a significant challenge, expected to impede insect protein market growth and trends during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The insect protein market analysis and report also includes detailed analyses of the competitive landscape of the market growth and forecasting, and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
Insect protein is an emerging alternative protein source that offers numerous benefits for healthy living, food security, and environmental sustainability. With the increasing awareness of diet-related diseases and the vegan trend, there is a growing demand for nutritional value from alternative protein sources. Insect protein, derived from diptera-based protein like black soldier flies, mealworms, and crickets, is a culinary ingredient that offers high protein content and nutritional richness. Insect protein is finding its way into various industries, including food and beverages such as protein bars, energy drinks, and pet food. However, there are concerns regarding allergic reactions and microbial risk associated with insect protein. To mitigate these risks, advancements in biotechnology, automation, and AI optimization are being made in insect farming.
Also, the insect protein market is projected to grow significantly due to its sustainable protein alternatives, carbon footprint reduction, and its potential use as animal feed in human nutrition. The market is also being driven by health-conscious consumers seeking efficient protein sources with health benefits. Processing techniques are being developed to enhance the nutritional richness of insect protein, making it a viable option for the future. Insect protein is also being explored in aquaculture and vertical farming to reduce the environmental impact of traditional farming methods. Overall, insect protein is an exciting and innovative solution for a sustainable and nutritious future.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Growth momentum & CAGR |
Accelerate at a CAGR of 45.88% |
Market Growth 2024-2028 |
USD 2.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
33.77 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 32% |
Key countries |
US, China, UK, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
All Things Bugs LLC, Aspire Food Group, Beta Bugs Ltd., Beta Hatch, Bioflytech, Chapul LLC, Darling Ingredients Inc., Entomo Farms, Global Bugs Asia Co. Ltd., Goterra, HEXAFLY, HiProMine S.A., Innovafeed SAS, JR Unique Foods Ltd., MealFood Europe SL, nextProtein SA, Nutrition Technologies, Protenga Pte. Ltd., Protix BV, and Ynsect SAS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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