Insect Protein Market Expected to Hit USD 3.3

New York, Sept. 09, 2022 (GLOBE NEWSWIRE) — announces the publication of the report “Insect Protein Market by Insect Type, Application, Distribution Channel and Region – Global Forecast to 2027” – https://www.

Insect proteins have a high demand in the application segment.

The insect protein market has been segmented on the basis of food and beverage applications, animal nutrition, and pharmaceuticals and cosmetics. The animal nutrition segment contributed the largest market share in 2022, followed by food & beverages and pharmaceuticals & cosmetics.

However, insect proteins are mainly known for their nutritional characteristics and hence their application is directed towards food and feed industries. the growth of the insect protein market.

Among the animal nutrition segment, aquaculture feed is expected to account for the majority share of the insect protein market. According to estimates by the Food and Agriculture Organization of the United Nations (FAO), by 2050 the demand for aquaculture will increase by 90% and its production will increase from 59.9 million (MT) in 2010 to 113.7 million (MT) in 2050, which is expected to drive the growth of the market.

The Asia-Pacific region is expected to witness a growth of 33.21% over the forecast period in the insect protein market.

The Asia-Pacific insect protein market is growing at a CAGR of 33.21%. The Asia-Pacific region is expected to position itself as one of the major consumers and producers of insect protein. The lucrative opportunity offered by the region has encouraged multinational companies to start their operations in the region.

The hot and humid climate for most months of the year is one of the most promising conditions for good insect growth in this region. Emphasis is placed on corporate mergers, expansion, acquisition, partnership and new product development as strategic approaches taken by leading companies to build their brand presence among consumers.

The bursting of the primaries:
• By type of business: level 1: 55%, level 2: 35%, level 3: 10%
• By designation: C level – 40%, managers – 30%, executives – 30%
• By region: North America – 30%, Europe – 30%, Asia-Pacific – 25%, Rest of the world -15%

Key Players Featured in This Report:
• EnviroFlight (United States)
• InnovaFeed (France)
• HEXAFLY (Ireland)
• Protix (Netherlands)
• Global Bugs (Thailand)
• Entomo Farms (Canada)
• Ynsect (France)
• Beta Bugs (UK)
• Aspire Food Group (USA)
• Chapul, LLC (United States)

Research Coverage:
The report segments the insect protein market on the basis of insect type, application, distribution channel and region. In terms of insights, this report has focused on different levels of analyzes – competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the segments Emerging and High-Growing Global Insect Protein Market, High-Growth Regions, Countries, Government Initiatives, Drivers, Restraints, Opportunities, and Challenges.

Reasons to buy this report:
• To get a comprehensive overview of the Insect Protein market
• To get far-reaching insights on major players in this industry, their product portfolios and key strategies adopted by them
• To get an overview of the major countries/regions in which the insect protein market is flourishing
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