The insect protein market size will reach USD 838.5 million by 2032 with a CAGR of 9.2%

Insect Protein Market Size, Share and Trends Analysis Report by Insect Type (Beetles, Caterpillars, Bees, Wasps & Ants, Grasshoppers, Locusts, Crickets and Others), Form (Whole Insect , Powder), Application (Food & Beverage, Animal Nutrition, Aquafeed, Pet Food, Poultry Feed, Pharmaceuticals & Cosmetics) and Region – Forecast to 2022 – 2032

NEWARK, DE /ACCESSWIRE/August 30, 2022/ Recently published data on the world insect protein market reveals that the market experienced a year on year growth (YoY) of 8.2% in 2022 and obtained a valuation of USD 349.2 million. The insect protein market is expected to show robust growth at CAGR of 9.2% to exceed the valuation of USD 838.5 million in 2032. During the historical forecast period from 2017 to 2021, the insect protein market insects grew at a healthy CAGR of 18% while beetle protein demand grew 11% between 2020 and 2021.

According to the detailed analysis of Future Market Insights, it is expected that there will be a semi-annual comparative study and assessment of the growth rates of the global market along with its future development potential. With the help of macroeconomic and industry variables, certain demographic and innovation aspects dominate the market.

The insect protein market is expected to grow over the forecast period to reach USD 349.2 million by 2022. Due to the extraordinary bioavailability of proteins and minerals in edible insects such as beetles and caterpillars, the market is expected to grow in the future.

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Key points to remember

  • The global insect protein market is expected to increase in sales in the future owing to the rising Health care and environmental concerns regarding the consumption of traditional sources of animal protein. The rapid acceptance of advanced technology by manufacturers and consumers is responsible for the expansion of the market.
  • The boom in the insect protein market is noticed due to its increasing use in the food and beverage industrydue to a growing need for protein alternatives among food and beverage manufacturers to meet growing consumer demand.
  • Due to high population growth and growing concerns about environmental sustainability, the widespread consumption of animal products such as meat, eggs and milk continues to increase. With the availability of high protein content, minerals, beneficial fats and vitamins, approximately 2,000 species of insects are already consumed as part of the regular diet by humans and pets around the world. .
  • Food manufacturers are moving towards entering the insect protein market by developing a variety of insect-based snacks such as whey protein, protein bars, cookies, cricket pasta with mealworms, honey caterpillar croquettes, mixed insect bites and insect-based chocolates.
  • The increasing expansion of the insect protein market is believed to be due to the belief in traditional animal protein sources. Furthermore, the growth drivers for the edible insect protein industry are cost advantages, production efficiency, and nutritional value provided by insects.
  • Beetles are considered highly nutritious as they make up more than a quarter of the market, followed by caterpillars, which have a remarkable double-digit growth rate of over 10.2%.
  • Double-digit CAGRs are also represented by insects like grasshoppers, crickets and locusts considered to be the most profitable insect varieties. Researchers are actively using locusts and grasshoppers to create baby food and animal feed for chickens and fish. It will help manufacturers expand their product portfolio and gain a competitive edge as early adopters.

Competitive landscape

Manufacturers are rapidly developing new and innovative ways to use insect proteins to help those who are malnourished. The shortage of nutritional resources in MEA countries, including Kenya, is being compensated for and researchers are developing insect protein powder-based foods.

Growing global awareness of the negative consequences of animal husbandry is forcing companies to look for other alternatives. Insects contain many important fatty acids, amino acids, minerals and vitamins. Due to the medical and production benefits, the widespread acceptance of insect protein among manufacturers and customers is expected to increase its growth.

More insights into the insect protein market

Europe and North America are expected to account for the largest market share of more than three-fifths of the global insect protein market. The surge in the insect protein market is driven by growing consumer awareness of the negative environmental effects of animal agriculture. In these industrialized regions, insect proteins present a viable alternative to the discerning consumer sector.

Several Food and Agricultural Organizations (FAOs) have begun to publicize edible insects as acceptable food options for humans, which in turn has led to renewed interest in edible insects.

With the help of government funding and fruitful research efforts, the Korean edible insect market has witnessed impeccable growth over the forecast period. Additionally, the skyrocketing accessibility of edible insects is to develop insect-based ingredients instead of final food products showing their original appearance.

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Market segments covered by the Insect Protein Market analysis

Type of insect:

  • Beetles
  • The caterpillars
  • Bees, wasps and ants
  • Grasshoppers, locusts and crickets
  • Others

Form:

Application:

  • Food and drinks
    • Animal nutrition
    • Aquatic food
    • pet food
    • Poultry feed
  • Pharmaceutical & Cosmetic

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Contents

1. Market overview

1.1. Market Coverage / Taxonomy

1.2. Market Definition / Scope / Limits

2. The massive impact of the crisis

2.1. Global Insect Protein Market Forecast Scenario Short-term (2022-2026) and Long-term (2027-2032) Annual Growth Rate Comparison

2.1.1. Optimistic scenario

2.1.1.1. China

2.1.1.2. WE

2.1.1.3. India

2.1.1.4. Eurozone

2.1.1.5. Asia Pacific

2.1.1.6. Rest of the world

2.1.2. Likely scenario

2.1.2.1. China

2.1.2.2. WE

2.1.2.3. India

2.1.2.4. Eurozone

2.1.2.5. Asia Pacific

2.1.2.6. Rest of the world

2.1.3. Pessimistic scenario

2.1.3.1. China

2.1.3.2. WE

2.1.3.3. India

2.1.3.4. Eurozone

2.1.3.5. Asia Pacific

2.1.3.6. Rest of the world

2.2. Key Factors Impacting the Market

2.3. Note: A market assessment must be provided for the likely scenario

3. Market dynamics

3.1. Drivers

3.1.1. Supply-side drivers

3.1.2. Demand side drivers

3.1.3. Economic secondary factors

3.2. Constraints

3.3. Opportunity

3.4. Market trends by region

3.5. Product launches

3.6. Product claims and analysis of nutritional information by buyers

3.7. Macroeconomic factors

3.8. Predictors – Relevance and Impact

3.9. Consumer survey analysis

4. Key Regulations

4.1. Packaging and labeling regulations

4.2. Overview of Certifications and Certification Agencies

4.3. Import/Export Policies

5. 2017-2021 Global Insect Protein Market Demand Analysis and Forecast, 2022-2032

5.1. Historical Market Volume Analysis (Metric Tons), 2017-2021

5.2. Current and Future Projections of Market Volume (Metric Tons), 2022-2032

5.3. Analysis of annual growth trends

To be continued…!

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