Increased use of aquatic foods as a replacement for fishmeal, increased demand for protein in the sports nutrition industry
NEW YORK CITY, NEW YORK, USA, 12 January 2022 /EINPresswire.com/ – Based on current analysis of reports and data, the Insect Protein Market is expected to grow at a CAGR of 38% and reach USD 1.4 billion by 2026. Insect protein is a high quality protein rich product. Unlike beef and crickets, crickets contain around 69% protein, while beef only contains 29%. Crickets contain nine essential amino acids, as well as B12, iron, zinc, magnesium, sodium, potassium, and calcium. Cricket flour contains more calcium than milk and more iron than spinach. More than half of the fish consumed in the world are farmed and could constitute a diet rich in fish because they are a natural food source for fish. They are also a natural food source for poultry, and the exoskeleton of insects includes a substance known as chitin, which is a polysaccharide. Chitin naturally increases the immune system in poultry, eliminating the need for antibiotics, which climb the food chain to humans.
By type of insect, crickets, black soldier flies, mealworms, ants, among others, are taken into account in the study for the industry. For application, it is segmented into food and beverages, animal nutrition, pharmaceuticals and cosmetics. By type of form, whole, powder, oil among others are also taken into account in the report.
On the basis of regions, the market has been subdivided into North America, Europe, Asia-Pacific, and rest of the world. The North American region is expected to occupy maximum market share, mainly due to the deep entrenchment of research and development in the region.
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Other key findings from the report suggest
• The animal nutrition industry is expected to have a CAGR of 45% from 2019 to 2026 to meet this demand; agricultural producers fuel their operations by increasing herd size and obtaining the best feed to improve meat quality.
• By type, crickets got a high share in 2018. Cricket contains the highest percentage of protein compared to other insects and is widely used in powder form in sports nutrition industry.
• The segment mealworms should know the segment the fastest growth with a CAGR of 24.00% during the forecast period; they are considered healthy because of their high protein and fat content. The dried mealworm contains about 53% protein, while the live worms contain about 20%.
• Insect protein powders are mainly used as protein bars and snacks in the B2C segment where they are used as a food additive. product launches continued, followed by a growing demand for nutritional foods.
• The European Commission has officially approved the use of insect protein as a new form of feed for aquaculture. Approval by the European Commission followed by approval by the Canadian Food Inspection Agency (CFIA) of the use of insects as a constituent in salmon feed.
• In February 2018, Protifarm launched 100% Pure Buffalo Insect Powder, which can be used in a wide variety of food formulations. This product launch expanded the company’s product portfolio
• Restaurants and supermarkets around the world are already serving edible insects, making this category a lucrative option for food industry giants such as Nestlé, PepsiCo and Tyson.
• The nutrition offered by the constituent includes monounsaturated fatty acids (MUFA) and polyunsaturated fatty acids (PUFA), vitamins and minerals, including zinc, iron, magnesium, copper, biotin, selenium and pantothenic acid.
• In October 2018, Entomo Farms received funding from Maple Leaf Foods, a not-for-profit company called Community Futures Peterborough, and the Southern Ontario Fund to expand its production facility and improve automation and innovation capabilities.
• Major participants include Agriprotein Holdings Ltd., Enviroflight LLC, Innovafeed, Ynsect, Hexafly, Protix, Jiminis’s, Entomo Farms, Aspire Food Group, Protifarm.
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This report forecasts revenue growth at the global, regional, and country level, and provides analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, the reports and data have segmented the industry on the basis of the insect type, application, shape and area:
Type of insect (income, USD million; 2016-2026)
• The black soldier flies
Application (Revenue, Million USD; 2016-2026)
• Food and drink
• Animal nutrition
• Pharmaceutical and cosmetic products
Form (Revenues, Million USD, 2016-2026)
• Whole insect
Regional Perspectives (revenue in millions, 2016-2026)
• North America
o United States
o Rest of Europe
• Asia Pacific
o Rest of Asia-Pacific
• Rest of the world
• Middle East and Africa
• Latin America
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Key issues addressed in the report on the world market of insect proteins:
• Who are the leading players in the global market of insect protein?
• What are the key findings of the SWOT Analysis and Porter’s Five Force Analysis on the Global Insect Protein Market?
• What are the major restraints expected to hamper the growth of the global insect protein market during the forecast period?
• What are the key factors that are predicted to drive the revenue growth of the global market between 2022 and 2026?
• What revenue is the CAGR Global Insect Protein Market expected to register throughout the forecast period?
• Which region is expected to represent a dominant revenue share relative to other regional markets throughout the forecast period?
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