USD 4.5 billion
Insect Protein Market Size, Share, Growth Analysis, By Product Type (Orthoptera, Hemiptera), By Product Form (Insect Powder, insect Oil), By Application (Animal Feed, Food and beverages), By Distribution Channel (Offline, Online), and By Region - Industry Forecast 2024-2031
Report ID:
SQSG30I2040 |
Region:
Global |
Published Date: November, 2024
Pages:
242
|Tables:
69
|Figures:
75
Insect Protein Market Insights
Global Insect Protein Market size was valued at USD 0.53 billion in 2022 and is poised to grow from USD 0.64 billion in 2023 to USD 2.32 billion by 2031, growing at a CAGR of 17.4% during the forecast period (2024-2031).
Over the projected period, demand for insect protein is anticipated to be driven by rising consumer awareness of the consumption of nutrient-dense foods and rising inclination for a healthy lifestyle. The increased demand for wholesome food products due to rising health consciousness among customers worldwide has given manufacturers in a variety of industries the chance to sell such foods. Given the rising need for food goods that comes along with an expanding global population, insect protein has great potential to help end world hunger. There are numerous uses for insect protein, including the manufacturing of animal feed, foods and beverages, cosmetics, and personal care items.
In western nations, insects are also being investigated as a potential source of human food and animal feed due to the mounting concerns to the world's food crisis. Due to the high consumer awareness level and the existence of consumers who are concerned about their health, the U.S. accounted for the greatest revenue share in the North American market in 2019.
In addition, more than 50% of Americans have one or more chronic diseases that can be prevented, many of which are brought on by unhealthy eating habits and inactivity. Because of this, there is a rising national need for wholesome food products.
Additionally, customers today place a premium on natural products and pay attention to the food's ingredients as well as how and where it is produced. The market is anticipated to rise over the forecast period for a variety of factors, including rising spending on functional food products, an increase in sports and gym aficionados, and consumers seeking out healthy and sustainable food options.
The market is anticipated to increase as a result of numerous nations approving the ingestion of insects. In the personal care and cosmetics sector, insect protein is a popular source of fat substitute for skincare products.
US Insect Protein Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Coleoptera
Fastest Growth
Coleoptera
Growth Rate
27.63% CAGR
Global Insect protein Market ($ Bn)
Country Share for North America Region (%)
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Insect Protein Market Segmental Analysis
The Insect Protein Market is segmented by Product Type, Product Form, application, Distribution Channel and region. Based on Product Type, the market is segmented into Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera and Others. Based on Product Form, the market is segmented into Whole Insect, Insect Powder, insect Oil, and Others. Based on application, the market is segmented into Food and Beverages, Animal Feed, Pharmaceuticals, and Cosmetics. Based on Distribution Channel, the market is segmented into Offline and Online. Based on region, the insect protein market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Insect Protein Market Analysis by Type
Coleoptera dominated the market in 2021, with a revenue share of more than 30%. Edible beetles, aquatic beetles, wood-boring larvae, and dung beetles are all part of this category. Coleoptera is safe to eat and is available in a variety of insect-based goods such as insect-based oil, protein powder, flour, and others. Orthoptera is predicted to be the fastest-growing source segment over the forecast period, with a revenue-based CAGR of more than 10%. Insects in the orthoptera family include locusts, grasshoppers, and crickets, which are widely available, easy to raise, and have a high protein content. Lepidoptera is a major source of insects utilized in the production of insect protein, and it includes insects such as caterpillars, butterflies, and moths. Growing awareness, rising demand for nutritional items, and the ease with which insects can be bred are expected to drive segment growth.
Global Insect protein Market By Type (%)
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Insect Protein Market Regional Insights
North America is expected to register largest insect protein market share, followed by Europe, Asia Pacific, and the Rest of the World. The existence of important insect protein manufacturing companies in developed regions such as North America and Europe leads to the high market share of these regions. Many start-ups have emerged in the region, offering edible insects as well as insect protein-based products for food and feed uses. Some of the top firms offering insect protein-based products include Enterra Feed Corporation (Canada), Entomo Farms (Canada), EnviroFlight LLC (US), and Aspire Food Group (US). Because of rising public awareness, the market for insect protein-based food products is expected to develop the fastest during the forecast period.
Global Insect protein Market By Geography
- Largest
- Fastest
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Insect Protein Market Dynamics
Insect Protein Market Driver
Increasing R&D and start-up investments
- Several players in the insect protein market are developing plans to grow their operations and obtain market share. New product releases, alliances, and acquisitions are some of the primary strategies used by industry participants. For example, in March 2022, Global Bugs announced a collaboration with Smart Vet Group to focus on the development and production of pet food and supplemental products for pets using whole roasted crickets and cricket powder. In conjunction with Pure Simple True LLC, nsect, an insect protein company, released Bernie's, an ultra-premium and luxury brand for dog feed, in the US market in November 2021.
Insect Protein Market Challenge
Microbial Risk and Allergic Reactions
- Insect protein consumption is associated with a high risk of allergy reactions in humans. Because the use of insect protein in diverse applications is still in its early stages of study, there is a high danger of many undiscovered allergies and related disorders that cannot be treated immediately. Eating insects may provide risks due to chemical (e.g., heavy metal buildup) and microbiological contaminations. Furthermore, various insects have been linked to allergic reactions by ingesting, inhalation, direct contact, stings, and bites. Cross-reactivity with other taxonomically related food allergens, such as crustaceans, and inhalant allergens, such as house dust mites, can all contribute to the severe reactions observed after consuming insects.
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Insect Protein Market Competitive Landscape
The insect protein market is highly competitive, with small and medium-sized competitors focusing on innovation, increasing manufacturing capacity, and product research and development. For example, Innova Feed announced a relationship with Archer Daniels Midland Company, a major agricultural operator, in November 2020. The alliance was formed in order to develop its insect protein business by building a new facility in Illinois, the United States, with a target capacity of 60,000 tons of insect protein per year.
Insect Protein Market Top Players Company Profiles
- Innovafeed (France)
- Hexafly (Ireland)
- Protix B.V. (Netherlands)
- Ynsect (France)
- Aspire Food Group (Canada)
- Entomo Farms (Canada)
- Nutrition Technologies (Malaysia)
- Global Bugs Asia (Thailand)
- Hargol FoodTech (Israel)
- Flying Spark Ltd. (Israel)
- Bioflytech S.L. (Spain)
- EnviroFlight (Darling Ingredients) (USA)
- Altimate Foods Pte. Ltd. (Singapore)
- FarmInsect GmbH (Germany)
- Entofood Sdn Bhd (Malaysia)
- F4F SpA (Chile)
- CricketOne Asia (Vietnam)
- Chapul Cricket Protein (USA)
- Protenga (Singapore)
- Armstrong Crickets Georgia (USA)
Insect Protein Market Recent Development
- In June 2022, Faculty at Virginia Tech’s Seafood Agricultural Research and Extension Center are working to develop alternative and sustainable food sources in the form of insect protein.
- In November 2021, Ÿnsect, an insect protein company launched the Bernie’s, an ultra-premium and luxury brand for dog feed in US market in collaboration with Pure Simple True LLC.
Insect Protein Key Market Trends
- From next-generation plant-based meats to on-the-go protein snacks, the demand for alternative protein sources is increasing. As consumer demand for protein rises, the global protein market evolves and expands. Protein is everywhere for today's customers, from next-generation plant-based meats to on-the-go protein snacks to dairy protein bioactive for sports performance. Buyers' growing and intense interest in protein is creating new economic prospects centered on the functional benefits of various proteins, protein diversity in the diet, and new protein sources. Protein as a food-nutritional component is in high demand due to rising global population and wellbeing. Because of the growing need for alternative protein among food and beverage manufacturers to meet rising customer demand, the use of insect-based protein has grown in the food industry.
Insect Protein Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, Insect protein is widely utilized in animal feed; nevertheless, demand for insect-based protein for human use is predicted to expand rapidly due to rising consumer health consciousness. Insect-based proteins in feed products witness increasing demand in Europe, Asia Pacific, and North America. However, the lack of effective rules governing the use of insect-based protein in the feed sector might be a significant impediment to the industry's growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 0.53 billion |
| Market size value in 2031 | USD 2.32 billion |
| Growth Rate | 17.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Insect Protein Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Insect Protein Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Insect Protein Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Insect Protein Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Insect Protein Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Insect Protein Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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