North America Insect Protein Market Size, Shares, Industry Trends and Analysis Report 2021-2022 & 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Analysis Report of North America Insect Protein Market Size, Share and Trends by Source, by Application (Animal Nutrition, Food & Beverage, Pharmaceutical and Others), by Country and Growth Forecast , 2021-2027″ report has been added to from ResearchAndMarkets.com offer.

The North American insect protein market is expected to witness a market growth of 23.6% CAGR during the forecast period (2021-2027).

The US market dominated the North American insect protein market by country in 2020 and is expected to continue to be a dominant market till 2027; thus reaching a market value of $202.9 million by 2027. The Canadian market is poised to grow at a CAGR of 26.4% during (2021 – 2027). Additionally, the Mexico market is expected to witness a CAGR of 25.3% during (2021 – 2027).

Consumers are concerned about food ingredients and how and where their food is produced and supplied, and are willing to pay more for natural products.

Additionally, increasing expenditure on functional food products, growing number of sports and gym enthusiasts, and consumers looking for healthy and sustainable food options are all likely to drive the protein market growth. of insects throughout the forecast period.

Moreover, the demand for these products is likely to increase significantly due to the growing demand from various industries including animal feed, food and beverage, pharmaceutical, cosmetic and others. Edible insects, which can be reared on organic waste, generate very low greenhouse gas emissions and therefore have the potential to replace conventional protein production.

The region is experiencing an increase in demand for nutritious foods and consumer knowledge on the use of insect-based products. Additionally, Mexico and Canada have plenty of room for new businesses and product launches. With increasing population growth and growing demand for traditional pork, cattle and chicken meat, insects are being seriously explored as a source of animal protein.

As a result, manufacturers have started launching insect protein powder products in the form of protein bars, protein powder, pasta and baked goods in those places, where acceptance of edible insects is high. weak. Because insects are not visible to the public, these items are widely accepted. As a result, many companies producing insect protein powders have sprung up in North America and Europe, and they are increasing their production capacity.

Insect proteins are mainly used in animal feed; however, due to increasing consumer health awareness, the demand for insect protein for human consumption is expected to grow at a rapid pace. Some of the key regional market trends are an increase in the number of start-ups producing insect-based food products, as well as higher adoption of the products in the region.

Key companies profiled in the report include InnovaFeed, Darling Ingredients, Inc., SAS Ynsect, Protix BV, NTG Holdings Pte. Ltd., Goterra, Entomo Farms, Chapul, Aspire Food Group and Hexafly.

Scope of the study

By origin

  • Beetles

  • Hemiptera

  • Hymenoptera

  • Lepidoptera

  • Orthoptera

  • diptera

  • Others

By app

  • Animal nutrition

  • Food and drinks

  • Pharmaceuticals and supplements

  • Personal care and cosmetics

Main market players

  • InnovaFeed

  • Cherished Ingredients, Inc.

  • SAS Ynsect

  • Protix B.V.

  • NTG Holdings Pte. ltd.

  • Goterra

  • Entomo Farms

  • Chapoul

  • Aspire Food Group

  • hexafly

For more information on this report, visit https://www.researchandmarkets.com/r/pmi0bq