Global Insect Protein Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 10/11/2022
- NO OF PAGES
- 232
- CATEGORY
- Food & Beverages
Market Overview
The global insect protein market size was US$ 157.62 million in 2021. The market is projected to grow from US$ 195.32 million in 2022 to US$ 865.08 million by 2029, exhibiting a CAGR of 24.4% during the forecast period.
Insects are an essential part of the daily diet of over 2 billion people worldwide. In addition to being rich in protein, insects are a source of essential fats, high-quality lipids, fibre, vitamins, and minerals such as iron and calcium. The most commonly used insect protein producers are mealworms such as black flies, grasshoppers, and crickets. Lipids can be used for biofuels, and by-products such as chitin have great potential in the pharmaceutical and bioplastics industries, whereas insect-derived proteins can mainly be used in food, pet food, fish and animal feed. Insects are a more useful source of protein compared to other plants and animals. Insects proteins are used in numerous products including food and beverages, pharmaceuticals, dietary supplements, cosmetics, pet food, pet, fish and poultry feed.
Growing consumer awareness of consuming nutritious foods and increasing preference for a healthy lifestyle are expected to drive up the demand for insect protein during the forecast period. Growing health consciousness has increased the demand for healthy and nutritious foods, and manufacturers from various industries are providing opportunities to provide such foods. Furthermore, rise in spending on functional foods, rise in sports and fitness enthusiasts, and consumers seeking healthy and sustainable food options are the major reasons expected to drive market growth during the forecast period.
Insect proteins have great potential in tackling world hunger as food demand increases with population growth. Insect proteins are widely used in animal feed production, food and beverage products, cosmetics and personal care. In addition, with the growing threat of global food shortages in Western countries, insects are being viewed as a new source of human food and animal feed.
The United States has captured the largest sales share in the North American market in 2020 due to high consumer awareness and the presence of health-conscious consumers. Additionally, more than half of the U.S. population suffers from one or more preventable chronic diseases, many of which result from poor diet and lack of exercise. This will increase the demand for healthy and nutritious foods across the country.
The outbreak pandemic has disrupted supply chains in various regions, including North America, while European countries such as the United States, United Kingdom, France and Germany are major markets for insect protein products. Insect proteins have seen slowed growth during the pandemic. However, it is expected to recover post-pandemic due to increased consumer awareness and health awareness
Source Insights
Coleoptera dominated the market, accounting for over 30.0% of sales in 2020. The segment includes edible beetles, water beetles, wood-eating larvae, and dung beetles. Coleoptera is suitable for human consumption and has a variety of insect-based products including insect-based oils, protein powders, flours, etc. Orthoptera will grow at a revenue-based CAGR of 25.2% during the forecast period, It is expected to emerge as the fastest growing source segment. The Orthoptera segment includes insects such as grasshoppers, locusts, and crickets. These insects are widely propagated and rich in protein.
Application Insights
Animal Nutrition captured the largest share of sales in 2020 with over 75.0%. Insect proteins are mainly consumed as feed additives for poultry, aquaculture and other animals. Highly digestible amino acid and protein levels of 40% to 70% are becoming increasingly popular among animal feed manufacturers. Furthermore, functional foods, bars and high protein products are some of the products used in the food and beverage industry. More countries that allow insects for human consumption are expected to spur market growth. In the personal care and cosmetics industry, insect proteins are widely used for skin care applications as an alternative fat source. In recent years, the cosmetics industry has turned to more natural and sustainable raw materials due to the increasing environmental concerns that govern product growth.
Regional Insights
The Europe region accounted for the largest share of revenue in 2020 with over 35.0%. The European market has shown high consumer acceptance of insect proteins for applications such as food and beverage, animal nutrition and personal care industries. The recent approval of insect proteins for animal feed, including poultry and swine, is expected to further increase demand in the European market. High demand for insect proteins from developed countries such as France, Germany, and the UK is expected to drive the market during the forecast period.
Moreover, North America accounts for a significant share of 2020 sales. The market is projected to become the largest by 2028 due to demand for nutritious foods and growing consumer awareness of consuming insect-based products. Mexico and Canada have new players and new products with significant growth potential for launches, demand for insect proteins is expected to rise during the forecast period.
Asia-Pacific is expected to grow at a revenue-based CAGR of 25.05% during the forecast period, owing to the growing consumer base in countries such as India, China, and Thailand. Additionally, countries such as Thailand and Indonesia have a long history of insect consumption and are among the major producers of insects adding raw materials. Moreover, the presence of developing countries is expected to increase the demand for nutritious food during the forecast period.
Key Companies Insights
The market is highly competitive with small and medium-sized players focused on innovation, increasing production capacity, and product research and development. For example, in November 2020, Innova Feed announced a collaboration with one of the leading players in agribusiness, Archer Daniels Midland Company. The partnership was formed to expand the insect protein business by building a new facility in Illinois, USA with a targeted production capacity of 60,000 tons of insect protein per year. Some prominent players in the global insect protein market include:
· InnovaFeed
· EnviroFlight
· Ynsect
· Hexafly
· Protix
· Aspire Food Group
· Chapul
· Nutrition Technologies
· Entomo Farms
· Goterra
· Other Players
Segments
By Source
· Coleoptera
· Lepidoptera
· Hymenoptera
· Orthoptera
· Hemiptera
· Diptera
· Others
By Application
· Food & Beverages
· Animal Nutrition
· Pharmaceutical & Supplements
· Personal Care and Cosmetics
By Geography
· North America
o U.S.
o Canada
o Mexico
· Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
· Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
· Latin America
o Brazil
o Argentina
o Colombia
· MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
Global Insect Protein Market: Market Size EstimationBoth the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
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Historic Year: 2016-2022
Forecast: 2024-2035
1 Insect Protein Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Insect Protein
1.3 Insect Protein Market Scope and Market Size Estimation
1.3.1 Market Concentration Ratio and Market Maturity Analysis
1.3.2 Global Insect Protein Revenue and Growth Rate from 2016-2030
1.4 Market Segmentation
1.4.1 Types of Insect Protein
1.4.2 Applications of Insect Protein
1.4.3 Research Regions
1.5 Market Dynamics
1.5.1 Insect Protein Industry Trends
1.5.2 Insect Protein Drivers
1.5.3 Insect Protein Market Challenges
1.5.4 Insect Protein Market Restraints
1.6 Industry News and Policies by Regions
1.6.1 Industry News
1.6.2 Industry Policies
1.7 Mergers & Acquisitions, Expansion Plans
1.8 Insect Protein Industry Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 Influence of COVID-19 Outbreak on Insect Protein Industry Development
2 Industry Chain Analysis
2.1 Upstream Raw Material Supply and Demand Analysis
2.1.1 Global Insect Protein Major Upstream Raw Material and Suppliers
2.1.2 Raw Material Source Analysis
2.2 Major Players of Insect Protein
2.2.1 Major Players Manufacturing Base of Insect Protein in 2020
2.2.2 Major Players Market Distribution in 2020
2.3 Insect Protein Manufacturing Cost Structure Analysis
2.3.1 Production Process Analysis
2.3.2 Manufacturing Cost Structure of Insect Protein
2.3.3 Labor Cost of Insect Protein
2.4 Market Channel Analysis of Insect Protein
2.5 Major Down Stream Customers by Application
3 Global Insect Protein Market, by Type
3.1 Global Insect Protein Revenue and Market Share by Type (2016-2021)
3.2 Global Insect Protein Production and Market Share by Type (2016-2021)
3.3 Global Insect Protein Revenue and Growth Rate by Type (2016-2021)
3.3.1 Global Insect Protein Revenue and Growth Rate of Ants
3.3.2 Global Insect Protein Revenue and Growth Rate of Crickets
3.3.3 Global Insect Protein Revenue and Growth Rate of Silkworms
3.3.4 Global Insect Protein Revenue and Growth Rate of Cicadas
3.3.5 Global Insect Protein Revenue and Growth Rate of Mealworms
3.3.6 Global Insect Protein Revenue and Growth Rate of Grasshoppers
3.3.7 Global Insect Protein Revenue and Growth Rate of Black Soldier Flies
3.3.8 Global Insect Protein Revenue and Growth Rate of Others
3.4 Global Insect Protein Price Analysis by Type (2016-2021)
3.4.1 Explanation of Different Type Product Price Trends
4 Insect Protein Market, by Application
4.1 Downstream Market Overview
4.2 Global Insect Protein Consumption and Market Share by Application (2016-2021)
4.3 Global Insect Protein Consumption and Growth Rate by Application (2016-2021)
4.3.1 Global Insect Protein Consumption and Growth Rate of Human Consumption (2016-2021)
4.3.2 Global Insect Protein Consumption and Growth Rate of Animal Nutrition (2016-2021)
4.3.3 Global Insect Protein Consumption and Growth Rate of Cosmetics and Pharmaceutical (2016-2021)
5 Global Insect Protein Consumption, Revenue ($) by Region (2016-2021)
5.1 Global Insect Protein Revenue and Market Share by Region (2016-2021)
5.2 Global Insect Protein Consumption and Market Share by Region (2016-2021)
5.3 Global Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4 North America Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4.1 North America Insect Protein Market Under COVID-19
5.4.2 North America Insect Protein SWOT Analysis
5.5 Europe Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.5.1 Europe Insect Protein Market Under COVID-19
5.5.2 Europe Insect Protein SWOT Analysis
5.6 China Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.6.1 China Insect Protein Market Under COVID-19
5.6.2 China Insect Protein SWOT Analysis
5.7 Japan Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.7.1 Japan Insect Protein Market Under COVID-19
5.7.2 Japan Insect Protein SWOT Analysis
5.8 Middle East and Africa Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.8.1 Middle East and Africa Insect Protein Market Under COVID-19
5.8.2 Middle East and Africa Insect Protein SWOT Analysis
5.9 India Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.9.1 India Insect Protein Market Under COVID-19
5.9.2 India Insect Protein SWOT Analysis
5.10 South America Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.10.1 South America Insect Protein Market Under COVID-19
5.10.2 South America Insect Protein SWOT Analysis
5.11 South Korea Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.11.1 South Korea Insect Protein Market Under COVID-19
5.11.2 South Korea Insect Protein SWOT Analysis
5.12 Southeast Asia Insect Protein Consumption, Revenue, Price and Gross Margin (2016-2021)
5.12.1 Southeast Asia Insect Protein Market Under COVID-19
5.12.2 Southeast Asia Insect Protein SWOT Analysis
6 Global Insect Protein Production by Top Regions (2016-2021)
6.1 Global Insect Protein Production by Top Regions (2016-2021)
6.2 North America Insect Protein Production and Growth Rate
6.3 Europe Insect Protein Production and Growth Rate
6.4 China Insect Protein Production and Growth Rate
6.5 Japan Insect Protein Production and Growth Rate
6.6 India Insect Protein Production and Growth Rate
7 Global Insect Protein Consumption by Regions (2016-2021)
7.1 Global Insect Protein Consumption by Regions (2016-2021)
7.2 North America Insect Protein Consumption and Growth Rate
7.3 Europe Insect Protein Consumption and Growth Rate
7.4 China Insect Protein Consumption and Growth Rate
7.5 Japan Insect Protein Consumption and Growth Rate
7.6 Middle East & Africa Insect Protein Consumption and Growth Rate
7.7 India Insect Protein Consumption and Growth Rate
7.8 South America Insect Protein Consumption and Growth Rate
7.9 South Korea Insect Protein Consumption and Growth Rate
7.10 Southeast Asia Insect Protein Consumption and Growth Rate
8 Competitive Landscape
8.1 Competitive Profile
8.2 Crik Nutrition Market Performance Analysis
8.2.1 Company Profiles
8.2.2 Insect Protein Product Profiles, Application and Specification
8.2.3 Crik Nutrition Sales, Revenue, Price, Gross Margin 2016-2021
8.2.4 Company Recent Development
8.2.5 Strategies for Company to Deal with the Impact of COVID-19
8.3 Entomo Farms Market Performance Analysis
8.3.1 Company Profiles
8.3.2 Insect Protein Product Profiles, Application and Specification
8.3.3 Entomo Farms Sales, Revenue, Price, Gross Margin 2016-2021
8.3.4 Company Recent Development
8.3.5 Strategies for Company to Deal with the Impact of COVID-19
8.4 Aspire Food Group Market Performance Analysis
8.4.1 Company Profiles
8.4.2 Insect Protein Product Profiles, Application and Specification
8.4.3 Aspire Food Group Sales, Revenue, Price, Gross Margin 2016-2021
8.4.4 Company Recent Development
8.4.5 Strategies for Company to Deal with the Impact of COVID-19
8.5 Griopro Market Performance Analysis
8.5.1 Company Profiles
8.5.2 Insect Protein Product Profiles, Application and Specification
8.5.3 Griopro Sales, Revenue, Price, Gross Margin 2016-2021
8.5.4 Company Recent Development
8.5.5 Strategies for Company to Deal with the Impact of COVID-19
8.6 Enviro Flight Market Performance Analysis
8.6.1 Company Profiles
8.6.2 Insect Protein Product Profiles, Application and Specification
8.6.3 Enviro Flight Sales, Revenue, Price, Gross Margin 2016-2021
8.6.4 Company Recent Development
8.6.5 Strategies for Company to Deal with the Impact of COVID-19
9 Global Insect Protein Market Analysis and Forecast by Type and Application
9.1 Global Insect Protein Market Revenue & Volume Forecast, by Type (2022-2030)
9.1.1 Ants Market Revenue and Volume Forecast (2022-2030)
9.1.2 Crickets Market Revenue and Volume Forecast (2022-2030)
9.1.3 Silkworms Market Revenue and Volume Forecast (2022-2030)
9.1.4 Cicadas Market Revenue and Volume Forecast (2022-2030)
9.1.5 Mealworms Market Revenue and Volume Forecast (2022-2030)
9.1.6 Grasshoppers Market Revenue and Volume Forecast (2022-2030)
9.1.7 Black Soldier Flies Market Revenue and Volume Forecast (2022-2030)
9.1.8 Others Market Revenue and Volume Forecast (2022-2030)
9.2 Global Insect Protein Market Revenue & Volume Forecast, by Application (2022-2030)
9.2.1 Human Consumption Market Revenue and Volume Forecast (2022-2030)
9.2.2 Animal Nutrition Market Revenue and Volume Forecast (2022-2030)
9.2.3 Cosmetics and Pharmaceutical Market Revenue and Volume Forecast (2022-2030)
10 Insect Protein Market Supply and Demand Forecast by Region
10.1 North America Market Supply and Demand Forecast (2022-2030)
10.2 Europe Market Supply and Demand Forecast (2022-2030)
10.3 China Market Supply and Demand Forecast (2022-2030)
10.4 Japan Market Supply and Demand Forecast (2022-2030)
10.5 Middle East and Africa Market Supply and Demand Forecast (2022-2030)
10.6 India Market Supply and Demand Forecast (2022-2030)
10.7 South America Market Supply and Demand Forecast (2022-2030)
10.8 South Korea Market Supply and Demand Forecast (2022-2030)
10.9 Southeast Asia Market Supply and Demand Forecast (2022-2030)
10.10 Explanation of Market Size Trends by Region
10.11 Insect Protein Market Trends Analysis
11 New Project Feasibility Analysis
11.1 Industry Barriers and New Entrants SWOT Analysis
11.2 Analysis and Suggestions on New Project Investment
12 Expert Interview Record
13 Research Finding and Conclusion
14 Appendix
14.1 Methodology
14.2 Research Data Source
 
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