Insect Protein Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.89 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Insect Protein Market Analysis
The insect protein market size is expected to grow from USD 288.38 million in 2023 to USD 348.97 million by 2028, at a CAGR of 3.89% during the forecast period (2023-2028).
- The insect protein has been gaining traction in various parts of the globe due to various factors. European Union officers have suggested that mealworms can be used as a source of protein to fortify cookies, pasta, or baked goods. According to the National Library of Medicine, insect protein can contain a substantial amount of protein. As per an article published by the National Library of Medicine, freeze-dried yellow mealworm larvae contained up to 33% fat, 51% crude protein, and 43% true protein on a dry matter basis.
- Additionally, insect protein is more eco-friendly as compared to raising cattle and other bigger sources of protein. Hence, many regions across the globe have been considering insects as potential sources of protein. Many regions have been witnessing the expansion of insect farms to cater to the growing demand for insect protein for animal feed, food & beverages, supplements, etc. For instance, in May 2022, Russia's first cricket farm was opened in Novosibirsk Oblast. The farm was intended to introduce a new protein source to the feed components market in Russia.
- Insect protein is also being widely used in pet food to increase its nutritional value. Various companies have been increasing their insect protein offerings and expanding to new regions. For instance, in November 2021, 鸥nsect launched its first product in the United States in collaboration with Pure Simple True LLC. The company launched a high-value protein that was used as a core ingredient for the dog treat brand Bernie's in the United States market. Hence, the increasing demand for insect protein ingredients by various end-user industries, coupled with an increased market penetration of insect protein offerings in the market, is anticipated to drive the market studied over the forecast period.
Insect Protein Market Trends
Increasing Awareness 糖心vlog传媒 Insect & Other Alternative Proteins
- Insect protein has been gaining traction in the market as consumers have become more aware of various sources of protein and their benefits on health. Insect protein intake among consumers is increasing, with more attention being paid to the specific demand for protein for various health benefits. With increasing population and welfare, the demand for insect protein as a food-nutritional component has been rising over the past few years. The high protein trend is gaining traction and will continue to evoke interest in the upcoming years.
- Hence, many companies have been expanding the production of insect proteins and expanding their presence across various regions. For example, in March 2022, Singapore-based start-up Inseact opened an insect protein facility with advanced technologies to expand its production. Additionally, the company will be the first commercial-scale insect protein manufacturer in Malaysia in 2022.
- Various regions across the globe have been witnessing a rise in awareness about insect protein and the benefits of consuming it. According to a survey published by the Food Standards Agency in 2021 in the United Kingdom, 50% of the respondents believed that edible insects were very/somewhat safe, whereas only 13% of the respondents had no awareness of edible insects.
- The advantages of insect protein include more or comparable quantities of protein as well. It is claimed to have better digestibility than other animal and plant proteins, which has been constantly driving its demand in the food and beverage sector. Manufacturers have been offering various insect protein products to cater to the growing demand for the same in the global insect protein market.
Europe as the Dominant Region with Major Market Shares
- Europe is the dominant market for insect protein across the globe. The region has been considering insects as a sustainable, eco-friendly, and potential source of protein. Government initiatives and approvals for various insects as sources of protein for food, beverages, animal feed, and other applications have been playing a major role in driving the insect protein market across Europe.
- The European Commission authorized the 4th insect, Alphitobius diaperionus, the lesser mealworm in the market, as food in the year 2023. The lesser mealworm is the larval form of darkling beetles. The lesser mealworm was approved as a novel food. The novel food consisted of paste, powder, frozen, and dried forms of house cricket. These were intended to be marketed as a food ingredient in several food products for the general population in Europe.
- Hence, the government approval for the usage of insect protein in various food and beverages creates many opportunities for different companies to enter the market with their insect protein offerings and innovate new formulations of insect proteins to be used in food and beverages. These factors, when clubbed all together, could lead to the expansion of the insect protein market in Europe. More options of brands and insect protein variants and forms allow the end-users to choose from a wider selection of ingredients, which could, in turn, drive the market.
- Furthermore, insect protein is a potential source of nutrients being used in animal feed. Insects can provide protein and essential amino acids for pigs and poultry that can potentially replace other protein meals for animal feed, such as soybean meal in a diet. Furthermore, insects are viewed as a sustainable source of protein for the animal feed industry. The digestible protein in insect larvae makes them a potent solution to improving protein self-sufficiency in animal feed. Hence, the increasing practice of rearing livestock owing to rising demand for meat products like fish meat, pork, beef, veal, poultry, etc., could create opportunities for insect protein to be used as animal feed across the region.
- According to the Department for Environment, Food, and Rural Affairs, the production of pigs and pigmeat in the United Kingdom increased from GBP 1,461 million (USD 2002.57 million) in the year 2021 to GBP 1,727 million (USD 2367.99 million) in the year 2022. Hence, the increasing practice of raising animals across the region can drive the insect protein market across Europe.
Insect Protein Industry Overview
The global insect protein market is fragmented, with several companies offering insect proteins in the market globally. Some of the major players operating in the market include Aspire Food Group, Darling International Inc. (EnviroFlight), Ynsect NL B.V., Protix B.V., and Protenga. The key players offering insect protein globally have been using various corporate strategies like partnerships, mergers & acquisitions, and expansions. To cater to the growth of insect protein and achieve economies of scale, the players operating in the market have been expanding their production capacities. Additionally, the companies have been incorporating advanced technologies in their production plants to streamline the production of insect proteins. The companies operating in the market have also been paying keen attention to promoting the benefits of insect protein and distribution of the same to strengthen their position in the global insect protein market.
Insect Protein Market Leaders
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Ynsect NL B.V.
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Darling International Inc. (EnviroFlight)
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Aspire Food Group
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Protix B.V.
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Protenga
*Disclaimer: Major Players sorted in no particular order
Insect Protein Market News
- April 2023: 鸥nsect forged a strategic partnership with the Lotte R&D Center, a prominent player in the Korean tech industry. The objective is to accelerate the advancement of insect-based food throughout Asia. This collaboration is marked by the signing of a Memorandum of Understanding (MOU), signifying 鸥nsect's commitment to raising awareness and fostering opportunities for insect-based food and beverages in the region.
- September 2022: Essentia unveiled its cricket protein product under the Omni brand. This innovative addition joins Essentia's existing lineup of nutritional ingredients, which includes collagen peptides and bone broth powders.
- January 2022: Ynsect embarked on an exciting journey with the launch of the 鸥NFABRE program. This initiative is dedicated to the development of cutting-edge phenotyping tools tailored for the next generation of the company's breeders, aimed at ensuring a secure and robust supply of larvae to support its insect farms.
Insect Protein Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing Awareness 糖心vlog传媒 Insect & Other Alternative Proteins
4.1.2 Increasing Applications Surge Demand for Insect Protein
4.2 Market Restraints
4.2.1 Augmenting Market Penetration of Other Proteins
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 End-User
5.1.1 Animal Feed
5.1.2 Food and Beverages
5.1.2.1 Bakery
5.1.2.2 Beverages
5.1.2.3 Condiments/Sauces
5.1.2.4 Confectionery
5.1.2.5 RTE/RTC Food Products
5.1.2.6 Snacks
5.1.3 Supplements
5.1.3.1 Elderly Nutrition and Medical Nutrition
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Rest of North America
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 Italy
5.2.2.4 France
5.2.2.5 Rest of Europe
5.2.3 Asia Pacific
5.2.3.1 India
5.2.3.2 China
5.2.3.3 Japan
5.2.3.4 Australia
5.2.3.5 Rest of Asia Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East & Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 Iran
5.2.5.4 South Africa
5.2.5.5 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Global Bugs
6.3.2 Aspire Food Group
6.3.3 Agronutris
6.3.4 Darling International Inc. (EnviroFlight)
6.3.5 Protenga
6.3.6 Protix B.V.
6.3.7 Nutrition Technologies
6.3.8 Entomo Farms
6.3.9 INSECTIFii
6.3.10 Flylab
6.3.11 Ynsect NL B.V.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Insect Protein Industry Segmentation
Insect protein can be defined as the protein sourced from edible insects like crickets, mealworms, grasshoppers, etc.
The global insect protein market is segmented by end-user and geography. By end-user, the market studied is segmented into animal feed, food & beverages, and supplements. The food & beverage end-user segment of the insect protein market is further sub-segmented into bakery, beverages, condiments/sauces, confectionery, ready-to-eat/ready-to-cook food products, and snacks. By supplements, the market is segmented into elderly nutrition and medical nutrition. The report also provides an analysis of the emerging and established geographical regions by covering regions, such as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
The market sizing has been done in value terms in USD and for volume terms in volume in tons for all the abovementioned segments.
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Insect Protein Market Research FAQs
What is the current Global Insect Protein Market size?
The Global Insect Protein Market is projected to register a CAGR of 3.89% during the forecast period (2024-2029)
Who are the key players in Global Insect Protein Market?
Ynsect NL B.V., Darling International Inc. (EnviroFlight), Aspire Food Group, Protix B.V. and Protenga are the major companies operating in the Global Insect Protein Market.
Which is the fastest growing region in Global Insect Protein Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Insect Protein Market?
In 2024, the Europe accounts for the largest market share in Global Insect Protein Market.
What years does this Global Insect Protein Market cover?
The report covers the Global Insect Protein Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Insect Protein Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Insect Protein Industry Report
Statistics for the 2024 Insect Protein market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Insect Protein analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
