Insect Food Market Trends, Industry Analysis and Forecasts

Pune, India, 05 Jul. 2022 (GLOBE NEWSWIRE) — The world insect food market The size is expected to show considerable growth in the coming years. This information was published by Fortune Business Insights™ in its report, titled “Insect Food Market, 2022-2029.“As the population continues to grow, there is a good chance that the consumption of foods of animal origin will increase in the foreseeable future. On this note, the Food and Agriculture Organization of the United Nations has predicts that the world’s population will increase by about 9 billion by 2050 based on current growth patterns.In such a situation, switching to conventional insect-based foods seems like a logical step, as many domestic animals already consume insects as part of their natural diet.

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List of Key Players Featured in the Market Report:

  • AlltechCoppens
  • Enterra Feed Corporation
  • Yinsect
  • Agriprotein
  • Enviroflight

Report Scope and Segmentation:

Report attribute Details
Year of reference 2021
Historical year 2018 – 2020
forecast year 2022 – 2029
Segments Covered By source, by application, by geography
Forecast units Value (USD billion) and volume (units)
Quantitative units Revenue in USD Million/Billion and CAGR from 2020 to 2029
Regions covered North America, Europe, Asia-Pacific, Middle East and Africa, Latin America and Rest of the World
Countries covered United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others
Number of companies covered AlltechCoppens, Enterra Feed Corporation, Ynsect, Agriprotein and Enviroflight
Market scope Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.

Impact of COVID-19

Production continues despite lockdown due to consumer needs

Supplying insects during the pandemic situation has been difficult as strict travel regulations have created disruptions. Transporting insects to production facilities for food manufacturing was quite disruptive due to these regulations. Although, as an essential commodity, the insect feed production facilities were operational during the lockdown and suffered no major losses. Even the demand for the products was stable, which helped the market to experience positive growth.

Market segmentation

The food source of insects is classified into mealworms, fly larvae and others. The application is segmented into Aquaculture, Pork, Poultry and Others. The market geography is spread across North America, Europe, Asia-Pacific, South America, Middle East and Africa.

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Market segmentation :

By Source:

  • Mealworms
  • Fly larvae
  • Others (silkworms, crickets and others)

By app:

  • Aquaculture
  • Pig
  • Poultry
  • Others (cattle, sheep and others)

By geography:

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, Italy, Spain, UK, Russia and Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia and Rest of Asia-Pacific)
  • South America (Brazil, Argentina and rest of South America)
  • Middle East and Africa (South Africa, United Arab Emirates and Rest of ME&A)

What does the report contain?

The report contains a concise summary of information necessary for making strategic business decisions. It has in-depth analysis of distribution, opportunities, market size, production costs, consumption patterns and much more. The various segments of the market categorized by different bases have been meticulously researched and provided for each of them to equip the client with the necessary information. The information was obtained through primary and secondary sources to obtain authentic inferences. The market projections based on the current consumption pattern provided in the report are also useful for the stakeholders.

Driving factor

Growing adoption of insect foods due to natural animal diets

Insects are a natural part of the diet of many animals such as birds, poultry, fish and others. As these animals are naturally adapted to eating insect foods, the introduction of insect proteins into commercial foods is expected to gain momentum. Additionally, insects have bioactive components that improve gut health, resulting in high demand among farming businesses. In addition, population growth, coupled with changing food preferences, has increased the demand for food products of animal origin. This requires an additional supply of protein foods from sustainable sources to meet market demand. Global demand for livestock products is expected to reach 465 million tonnes by 2050, according to the Food and Agriculture Organization of the United Nations. These factors are expected to drive the growth of the global insect feed market in the coming years.

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Regional outlook

North America will remain at the forefront; Increase demand from the poultry sector to foster growth

North America is expected to hold a major share of the insect feed market in the coming years. This is partly due to the growing production of Hawaiian insects and their growing use in the region. These insects are used as feed in the booming poultry industry in countries like the United States and Canada.

Asia-Pacific is expected to show substantial growth with growing demand for the product in countries like South Korea and China. The increase in population, coupled with changes in lifestyle and consumption patterns, has boosted the demand for animal protein.

Competitive landscape

Significant investments in R&D by companies to strengthen their positions

This breeding industry is experiencing heavy investment in research and development to innovate its products and succeed in acquiring market images. Acquisitions and expansions are important strategies adopted by companies for marketing and research support.

Industry key development:

  • June 2019: Ynsect launched its new mealworm production unit to produce 1500 tons of insect protein every month.

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Read related information:

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