Insect Protein Market Size To Expand at a Notable CAGR Of 23.28% During 2022-2030

Market Research Future (MRFR) has published a cooked research report on the global Insect Protein Market that contains the information from 2022 to 2030.

Insect Protein Market Highlights

Insect protein is the powder produced from dried insects after eliminating the oil from particular insects.. Insects are indeed a high source of protein, with some species containing more protein than traditional livestock such as cows or pigs. Insects are processed to derive protein powder, which can be used for human and animal nutrition. Insect protein has gained popularity as a sustainable and eco-friendly alternative to conventional protein sources.

As the world's focus on sustainability and healthy living intensifies, the insect protein market has emerged as a promising and exciting alternative that is rapidly gaining attention from both investors and consumers. Its potential for impressive growth and boundless innovation indicates that it is not a passing fad, but a transformative trend with long-lasting power. The insect protein market offers a solution to the pressing issues of food security and environmental sustainability by providing a highly sustainable and eco-friendly source of protein. Insects require significantly fewer resources to produce than traditional livestock and are rich in nutrients, including protein, healthy fats, vitamins, and minerals. While the industry is still in its early stages and faces regulatory and consumer challenges, the increasing awareness of the environmental and health benefits of insect farming suggests exponential growth potential.

Market Synopsis

According to the MRFR analysis, The global insect protein market was valued at USD 1154.0 million in 2021 and is projected to reach USD 6986.56 million by 2030 at a CAGR of 23.28%.

Insect protein, derived from insects, can serve as a source of nutrition for both humans and animals. The use of insects as a protein source is gaining popularity as they can be used in various products, such as protein bars, energy drinks, and even burgers. Insects are also being considered as a potential solution to global food insecurity due to their ready availability and potential for large-scale production.

The growth of the alternative protein market is influenced by various factors such as the increasing urbanization, higher investment in alternative protein companies, advancements in food technology, and the nutritional benefits of edible insects. Furthermore, there is a growing awareness of the importance of environmental sustainability in the production and consumption of alternative protein, as well as an increasing number of new product launches and a growing preference for vegan diets, which is further driving the market growth.

COVID-19 Impact on Insect protein Market

In particular, the insect farming sector has been affected by the pandemic due to the difficulties in sourcing feed for the insects. Many insect farmers rely on the use of pre-consumer food waste as a feed source, which has been reduced due to the closure of restaurants and other foodservice outlets during the pandemic. In addition, travel restrictions and border closures have made it difficult to import raw materials, such as soybean meal, which is used as a feed source for some insect species. This has led to increased costs for companies that rely on imported raw materials.

However, despite the challenges caused by the pandemic, the insect protein industry has shown resilience and adaptability. Some companies have shifted their focus to sourcing locally available raw materials or exploring new feed sources. In addition, the pandemic has increased awareness of the importance of sustainable and locally sourced food production, which could potentially benefit the insect protein industry in the long term.

Competitive Landscape

The global insect protein market is fragmented and consists of many organized and unorganized industry players. The key players in the global Insect protein are focusing on growth strategies such as innovative ideas, along with the continuous expansion of the business through implemented technology.

Company’s works on innovation in products and developing technologies on a global level to gain a maximum share of the global market. The key players operating in the global Insect protein market include InnovaFeed SAS, Bioflytech S.L, F4F SpA, Hexafly, SFly Comgraf SAS, Darling Ingredients Inc., Nutrition Technologies, Entofood Sdn Bhd, Protix B.V., nextProtein SA and Others.

Segmentation

By Insect Protein Type

• Crickets: The increasing population has indirectly increased the demand for meat; however, the harmful gases from livestock production have major impacts on environmental sustainability, thereby influencing people to shift plant based meals.


• Mealworm: The mealworm market is influenced by several factors such as the rising greenhouse gas emissions from the livestock and poultry industries, the nutritional value of mealworms, the environmental advantages of consuming edible mealworms, and the lower risk of zoonotic diseases associated with insect consumption as compared to animal-derived products.


• Grasshoppers: The market for grasshopper protein is growing as more companies are exploring the use of insects as a sustainable protein source. Grasshoppers, in particular, are gaining popularity due to their high protein content, which is comparable to traditional protein sources such as beef or chicken


• Ants: Ants are an excellent source of protein, containing up to 60% protein by dry weight, making them a potential sustainable protein source. Ants are consumed in some cultures as food, and they are known to have a unique taste and texture. The protein in ants is complete, meaning that it contains all essential amino acids required by the human body


• Bees: The market for bee protein, also known as bee pollen or bee bread, has been growing in recent years as consumers are becoming more interested in natural and plant-based sources of protein.


• Termites: Termites are a treasured source of protein, fat and vital amino acids in the diet for humans. Termites can also be utlised as a spiced, roasted and eaten as a snack. They are a well-recognized food in Nigeria’s south-west region, where they are known as esunsun. Termites are highly nutritious with high levels of protein, fats, key vitamins, and minerals.


• Black Soldier Flies: Black Soldier Flies (BSF) are gaining recognition for their potential in addressing several key global challenges: resource depletion and environmental degradation, food waste, and climate change

By Application

• Food & Beverages: The food & beverages segment is expected to grow at the highest CAGR during the forecast period 2022–2030. The global food shortage, expanding processed whole insect consumption, and rising end-user demand for premium alternative protein and amino acid sources are all factors contributing to the segment's rapid rise.


• Pharmaceuticals & Nutraceuticals: Pharmaceuticals and nutraceuticals made from insect protein are an emerging field of research and development. Insect protein is high in nutritional value and contains all essential amino acids, making it an attractive source of protein for both pharmaceuticals and nutraceuticals. Pharmaceuticals made from insect protein may include drugs that are derived from the unique properties of insect proteins, such as their ability to bind to specific receptors in the body


• Personal Care Products: Insects provides the numerous benefits such as, fatty acid breakdown indicates that BSF contains > 60% of lauric acid, which makes it less appropriate for use in a skin-care product, locust and cricket fats are better since they contain more C16 and C18 fatty acids.

By Region

• North America: The rising desire for environmentally friendly, protein-rich foods in this region is what's driving up the market for foods containing insect protein. The main reasons for the expanding acceptability of insects as food include a growing familiarity with them, a decline in food neophobia, and a change in views towards them both generally and as food insect proteins in North America.


• Europe: The recent authorization of insect protein for feed including poultry and pig is expected to further drive the demand in the European market. The great demand for insect protein in developed countries such, as Germany, France, and the U.K. is predictable to carry the market over the forecast period.


• Asia-Pacific: Asia-Pacific is expected to register the fastest growth, owing to growing exports and domestic demand for insect-based protein ingredients. Because of the simple access to raw materials, China is one of the biggest markets for insect-based protein. Additionally, development in food & beverage and pharmaceuticals and other industries is likely to drive the demand for insect-based protein in such as Indonesia, China India, Malaysia, and South Korea in the upcoming year


• Rest of the World: In recent years, there has been increasing interest in using insect protein as a sustainable and nutritious food source. While the consumption of insects as a food source is still relatively uncommon in many parts of the world, it has long been a part of traditional diets in many regions, including parts of South America, the Middle East, and Africa.