Global Insect Protein Market Size Growth of 24.9% CAGR to Reach USD 1.48 Billion by 2028: Polaris Market Research

According to the research report, the global Insect Protein Market size and share was valued at USD 271.3 Million in 2020 and is projected to reach USD 1.48 Billion by 2028, to grow at a CAGR of 24. 9% over the forecast period.

According to the research report, the global insect protein market size and share was valued at USD 271.3 million in 2020 and is expected to reach USD 1.48 billion by 2028to grow to a 24.9% CAGR during the forecast period.

What is the Insect Protein Market? What is the insect protein market size?

Insect proteins are high-quality raw materials obtained from insects that can be used as a component used as food for pets, animals or fish. They are new sources of food and animal feed and strive to escape conventional protein sources like soy and meat. Insect proteins are obtained from edible insects depending on the species supplied; several insects are recommended in their diet.

The world’s population is expected to reach 9 billion people by 2050. But already, the expanded population will occupy much of the earth, exempting only a tiny percentage of agriculture to provide food for human consumption and animal. This will force farmers to force themselves to produce animal feed on the scarce land available. As a protein source, insects are sustainable and environmentally friendly as they have a lower ecological footprint than other protein sources.

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Important Questions Answered by the Market Report

  • What is the size and growth of the market?
  • At what CAGR is the market likely to grow during the forecast period?
  • What is the significant segment by type of product in the market?
  • What are the crucial factors driving the market?
  • Who are the key players in the Insect Protein market report?
  • Which region is expected to hold the largest market share in the Insect Protein market report?

The best market players are:

  • Aspire Food Group Protifarm
  • Chapul cricket protein
  • EnviroFlight LLC
  • Ÿnsect
  • AgriProtein Holdings Ltd. hexafly
  • Jimini’s and Swarm Nutrition GmbH
  • Innovafeed
  • EntomoFarms
  • Protix

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Insect Protein Market: Drivers of Growth

The market is driven by factors such as escalating urbanization, rise in venture capital funding in facultative protein businesses, transformation in food technology, maximum nutritional value of edible insects, and feasibility environmental with the consumption and production of alternative proteins. Other new products that are intensifying and increasingly inclining towards vegan diets are driving the market growth significantly.

Insects are a more convenient source of protein than other plants and animals. Feeding insect protein is profitable. In the first stage, the insect-based protein was only used as a component for animal feed. But with the growing awareness of the high protein content of insects, the use is huge across all industries. Currently, insect-based proteins are used in medicines, foods and beverages, cosmetics, nutraceuticals, pet foods, poultry, and aquatic foods.

The covid-19 pandemic has led to many exceptions in the food sector. The meat market was negatively affected globally. The likelihood of constant supply, production, distribution, scarcity of labor and additional development activities has troubled the insect feed market.

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Insect Protein Market: Scope and Segments of the Report

Report attribute

Details

Market Size Value 2020

$271.3 million

Market Outlook for 2028

$1.48 billion

Expected CAGR Growth

24.9% from 2021 to 2028

base year

2020

Forecast period

2021 – 2028

Segments Covered

By product, by application, by region

Key companies

Aspire Food Group Protifarm, Chapul Cricket Protein, EnviroFlight LLC, Ÿnsect, AgriProtein Holdings Ltd. Hexafly, Jimini’s and Swarm Nutrition GmbH, Innovafeed, EntomoFarms and Protix

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Personalization options

Custom purchase options are available to meet your research needs.

Insect Protein Market: Key Segmentation

  • Overview by product, application and region

By product, the Orthoptera segment holds a major insect protein market share. It includes grasshoppers, crickets and locusts. Grasshoppers contain 77% protein, making them a go-to option for many insect-based businesses. By application, insect proteins are used in liquids and powders in animal feed additives to offer the required nutrition needed by animals to support their overall growth. When built on feed blends, it helps increase the rate of weight gain in animals by prohibiting vitamin deficiencies and disease, and improving feed diversion and conversion.

By region, Europe accounted for the largest market share and is expected to dominate ten forecast periods. The region is considered a notable market for insect-based proteins. Among the main ingredients consumed in food applications, it covers elderly and middle-aged consumers in Europe. Insect-based proteins are mainly used for nutritional supplements in the region. But Europe has not yet realized its full potential in the area of ​​beverages. The growing demand for insect-based protein in major markets involves the UK and Germany due to the growing importance of fiber-enriched products and is expected to have a positive impact on the market growth, although at a slower pace.

Report Highlights

  • This study offers an analytical representation of the global Insect Protein market accompanying prevailing trends and future estimations to decide future pockets of investment
  • The report offers insights related to significant drivers, opportunities, and restraints, as well as an in-depth analysis of the global insect protein market share.
  • The dominating market is quantitatively examined over the forecast period to underline the growth scenario of the market
  • Porter’s Five Forces Analysis Illustrates the Power of Buyers and Suppliers in the Market
  • The report offers an in-depth analysis of the market based on the competitive intensity and upcoming competition formation

Browse all “Insect Protein Market Share, Size, Trends, Industry Analysis Report, By Product (Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera, Others), By Application (Food & Beverage, Animal Nutrition , personal care and cosmetics, others), By Regions; Sector forecasts, 2021 – 2028 » Report at https://www.polarismarketresearch.com/industry-analysis/insect-protein-market

Market mainly depends on product, application and region

Insect Protein Market: By Product

  • Beetles
  • Lepidoptera
  • Hymenoptera
  • Orthoptera
  • Hemiptera
  • diptera
  • Others

Insect Protein Market: By Application

  • Food and drinks
  • Animal nutrition
  • Personal care and cosmetics
  • Others

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