Insect food market is estimated to reach US$2826.77 billion by 2030

The insect feed market was valued at US$847.57 billion in 2020 and is estimated to grow to US$2826.77 billion by 2030 and is expected to register a CAGR of 12.8%. Various varieties of insects can be used as feed for industrial animal production and aquaculture due to their nutritional profile, particularly their high protein content. Pigs, chickens, and edible fish have all been fed an insect-based diet in scientific studies. Insects can provide pigs and poultry with enough protein and amino acids needed to eventually replace soybean meal in their diet. Incorporating black soldier fly larvae into a fish diet gave satisfactory results with no difference in odor or texture.

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The report “Global Insect Feed Market, by Product (Mealworms, Fly Larvae and Others), Application (Aquaculture, Swine Nutrition, Poultry Nutrition and Others) and Region (North America, Europe, Asia-Pacific , Latin America and Middle East & Africa) – Trends, Analysis and Forecasts to 2029”

Highlights:
• In December 2021, Ecuador launches the first insect food production plant in Latin America.
• In March 2021, in the province of Alessandria, the first Italian insect farm for animal feed is about to open: an integrated insect breeding system for the bioconversion of food waste into flour and protein oil for use in the manufacture of animal feed.

Analyst view:
The increase in the global consumption of meat and meat products has led to an increase in animal production, which requires the use of high quality food products in order to obtain higher yields. Insects have a higher protein content and lower fat content than typical meats like poultry and animals. As a result, they can be manufactured for human consumption or as a source of protein in raw material combinations. As the demand for meat increases, the demand for grains and protein foods is also expected to increase. The key element expected to fuel growth in the global insect feed market is the expansion of the aquaculture and poultry sectors.

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Key market insights from the report:
The global insect feed market was worth US$847.57 billion in 2020 and is estimated to be worth US$2826.77 billion by 2030 and is expected to register a CAGR of 12.8%. Global Insect Feed is segmented into product, application and region.
• On the basis of product, the global insect feed market is segmented into mealworms, fly larvae and others.
• Based on application, the global insect feed market is segmented into aquaculture, swine nutrition, poultry nutrition and others.
• By region, the global insect feed market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Competitive Landscape and their Strategies of the Global Insect Feed Market:
Key players in the global insect feed market include nextProtein, Buhler AG, Hexafly, Entofood Sdn Bhd, Diptera Nutrition Srl, EnviroFlight LLC, Alltech Coppens GmbH, AgriProtein Holdings Ltd., Bioflytech SL, and HiProMine SA.
The market provides detailed information about industrial base, productivity, strengths, manufacturers and recent trends which will help companies to expand their business and promote financial growth. In addition, the report presents dynamic factors, including segments, sub-segments, regional markets, competition, dominant key players and market forecast. Additionally, the market includes recent collaborations, mergers, acquisitions, and partnerships as well as regulatory frameworks in different regions impacting the trajectory of the market. Recent technological advancements and innovations influencing the global market are included in the report.

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