Enjoy complimentary customisation on priority with our Enterprise License!
The Global Insect Protein Market size is projected to increase by USD 1,147.96 million and the market is estimated to grow at a CAGR of 31.84% between 2022 and 2027.
Increasing demand for sustainable protein sources is a major factor driving the 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. This sustainability benefit appeals to environmentally-conscious consumers, driving the demand for these products. As a result, the market is expected to expand during the forecast period.
To get additional information about the market, Request Free Sample
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 like Exo and Chapul 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 hinder 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.
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 the market growth and trends during the forecast period.
The insect protein market is a burgeoning segment within the alternative protein market, driven by factors like urbanization and investment in food technology. Leveraging economies of scale and Next Generation Manufacturing (NGen) methods, the market sees diverse insect types utilized for various purposes, including pharmaceuticals & nutraceuticals and meat substitutes. From insect protein production for medicines to its use in animal and poultry feed, this protein source, rooted in ancient times, has gained traction amid challenges posed by the growing livestock population. Defining insect protein market dynamics shapes its growth trajectory, reflecting evolving consumer preferences and industry innovation.
The market share growth by the coleoptera segment will be significant during the forecast period. The demand for Coleoptera is, which is encouraged by factors such as their health benefits, sustainability, and versatility, as well as by rising consumer awareness and the expanding food and feed sector. Hence, owing to the increasing demand for coleoptera as a product, the market in focus is anticipated to witness growth during the forecast period.
The coleoptera segment was valued at USD 52.38 million in 2017 and continued to grow until 2021.
For a detailed summary of the market segments Request for Sample Report
Coleoptera, or beetles, presents a promising market scenario as a product in the market as it is the largest and fastest-growing product segment. The use of insects as a sustainable and different source of protein for humans has gained popularity in recent years. Given that Coleoptera is one of the largest insect orders and has a large number of species, it offers a sizable opportunity to the companies in the market.
Based on application, the animal nutrition segment holds the largest market share. The animal nutrition segment is expected to be the largest and fastest-growing application segment in the market, driving significant market growth during the forecast period. The increasing demand for environmentally friendly protein sources in animal nutrition is fueling the growth of the market. It is gaining popularity as an ingredient in livestock, poultry, fish, and pet food due to its high protein content, diverse amino acid profile, and minimal environmental impact. Consumers are recognizing the advantages of the product, such as reduced greenhouse gas emissions, efficient feed conversion, and decreased reliance on conventional protein sources like soy and fish meal. Moreover, the demand for natural and sustainable animal products and supportive regulations for sustainable animal farming practices further contribute to the growing demand for the products in animal nutrition. These factors are expected to drive the market's growth by increasing the demand in the animal nutrition market.
Europe is estimated to contribute 33% to the growth of the global market during the forecast period
Get a glance at the market share of various regions View PDF Sample
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. Such factors are expected to drive the growth of the regional market 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 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.
The Market is characterized by robust growth, with a noteworthy Compound Annual Growth Rate (CAGR). This expansion is fueled by the escalating demand for alternative proteins, driven by their nutritional benefits. The market embraces various sources of alternate protein, with a particular focus on the Black Soldier Fly. Its applications span across industries such as Food & Beverages, Personal Care & Cosmetics, offering alternatives to traditional sources like beef, chicken, and pork. Insect protein, derived from animals and plants, has gained traction, considering the need for sustainable protein sources amid the growing global population and traditional livestock practices. The market dynamics of the sector involve diverse elements, including the definition of the market, utilization in traditional beer production, the presence of essential components like silicon, antioxidants, and vitamin B complex, and the incorporation into different types of beers such as Ales, lagers, and specialty beers.
However, the utilization extends beyond food, encompassing pharmaceuticals and nutraceuticals, as well as personal care and cosmetics. Its production from mealworms, grasshoppers, bees, and termites contributes to the market's dynamics, addressing the challenges of production costs and distribution costs. Additionally, the market explores applications in energy drinks and considers the nutritional benefits offered by insect-derived protein across various verticals.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest Insect Protein Market Trends, market definition and growth opportunities from 2017 to 2027.
Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Market forecasting period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 31.84% |
Market growth 2023-2027 |
USD 1,147.96 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
30.14 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 33% |
Key countries |
US, China, South Korea, UK, 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 growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Report and Discover more
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.