Insect-Based Pet Food Market to Reach Over USD 15.12 Billion by 2030;

Insights into the global insect-based pet food market

Global SEG Insect Based Pet Food Market

Global SEG Insect Based Pet Food Market

The global insect-based pet food market is expected to reach over USD 15.12 billion by 2030, growing at a CAGR of 8.74% during the forecast period.

Leading players in the insect-based pet food market: Innovafeed, Ynsect, Protix, Purina, Mars Incorporated, Agri Protein Holdings Ltd, Beta Hatch »

— Insightace analysis

NEW JERSEY, NJ, USA, Nov. 8, 2022 /EINPresswire.com/ — InsightAce Analytic Pvt. announces the publication of a market assessment report on the “Global insect-based pet food market by product type (kibble/dry, extruded, cooked, coated, treats and dehydrated chews, Raw Freeze-Dried, Wet, Frozen, Raw, Powdered, and Freeze-Dried Foods) and Plain (Organic, Mannoprotein, and Conventional. By Source, the market is segmented into Crickets, Mealworms, and Black Soldier Flies) – Trends, Growth Analysis Industry Competition, Revenue and Forecast to 2030.”

The global insect-based pet food market is expected to reach over USD 15.12 billion by 2030, growing at a CAGR of 8.74% during the forecast period.

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Pet foods, known as insect-based pet foods, use insects as their main source of protein. Compared to more conventional forms of animal protein, including beef, chicken and pork, insects are a healthy and sustainable source of protein for pets and have several health benefits. Insect-based pet foods have just entered the market due to the “buzz” about them in society, and more are on the way. The most crucial part of feeding pets is giving them a complete and balanced diet appropriate for their species and life stage. The major factor driving the insect-based pet food market is the increase in the number of pet owners. The increase in the number of pet owners is one of the main factors driving the demand for non-discretionary and discretionary goods, such as toys, snacks and other food products. Due to changing lifestyles across the world, there is an increase in demand for frozen and freeze-dried pet food. Consumer attitudes regarding animal health are changing, which is driving the demand for insect-based pet food.

Additionally, the increase in the number of nuclear outbreaks is driving the increased demand for frozen and freeze-dried pet food. These elements will also support the growth of the insect-based pet food market. In the coming years, market growth will be aided by ongoing research and development to add other protein-rich ingredients in insect-based pet foods. The growing popularity of new pet food diets, such as the gluten-free diet, will continue to drive the demand for insect-based pet foods during the forecast period. Insect-based pet food can create food sensitivities and allergies, which could hamper market expansion.

List of Major Players of Insect-Based Pet Food Market:
Innovafeed
Yinsect
Protix
Purine
Mars Incorporated
Agri Protein Holdings Ltd
buried
Entocycle
Beta outbreak
nobel
Hexafly Biotech
Next protein
Scout and Zoe
Others

Market dynamics:
Drivers-
The demand for insect-based pet food is increasing due to the increase in the number of responsible pet owners around the world. It has also led to the trend of “humanizing pets”, in which people emphasize the health and well-being of their pets by feeding them specific meals. Additionally, the rapid adoption of new pet food trends, including gluten-free diets, will continue to drive the demand for insect-based pet food over the projected period.

Challenges:
The production of pet food from insects is expensive, a major limitation of the market. The market is further challenged by the lack of knowledge about the benefits of insect-based pet food. Insect-based pet food can cause food sensitivities and allergies, limiting market growth. The main issue is the need for more product knowledge and monetization in emerging countries, which is expected to slow the expansion of the insect-based pet food market.

Regional trends:
The North American insect-based pet food market is expected to register a large market share in terms of revenue and is expected to grow at a high CAGR shortly. Due to the increasing popularity of insect-based pet foods, the growing number of pet owners, and the increased knowledge of pet health care.

The Asia-Pacific region is expected to hold a higher share of the market. Asia-Pacific insect-based pet food market is expected to increase favorably owing to rising disposable income, changing lifestyles and growing adoption of pets . Additionally, the presence of key companies and increasing collaboration among key players for market penetration in the region provides an opportunity for growth of the global insect-based pet food market.

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RECENT DEVELOPMENTS:
• In April 2021, Protifarm, a Dutch mealworm ingredient manufacturer based in Amsterdam, was acquired by Insect. Mealworm protein is produced at the Insect factory in France and used in the pet food industry.
• In April 2021, Mars Incorporated added to its product line, Mars Incorporated added to its product line.

Insect Based Pet Food Market Segmentation-
By nature:
• ORGANIC
• Mannoprotein
• Conventional
By origin:
• Crickets
• Mealworms
• The black soldier steals

By product type:
• Croquettes/dry
• Extruded
• In the oven
• Coated
• Dehydrated foods
• Treats and chews
• Freeze-dried raw
• Wet food
• Frozen
• Raw food
• Powder
• Freeze-dried foods
By region-
North America-
• United States
• Canada
• Mexico
Europe-
• Germany
• Great Britain
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia-Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East and Africa-
• GCC countries
• South Africa
• Rest of the Middle East and Africa

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Priyanka Tilekar
Insightace Analytical Pvt. ltd.
+1 551-226-6109
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