Insect Protein Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Insect Protein Market size is projected to reach a CAGR of 33.4% from 2023-2030.
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Insects are an essential part of the everyday food intake for over 2 billion people worldwide. Apart from the high protein content, insects are a source of essential fats, high-quality lipids, fiber, vitamins, and minerals such as iron and calcium. The most used insect protein production is mealworms, black soldier flies, locusts, and crickets. While lipids can be used in biofuels and by-products such as chitin exhibit great potential in the pharmaceutical and bioplastic industries, insect-based proteins can be majorly used in food, pet food, fish, and animal feed.
The key factors positively impacting the growth of the insect protein market are the rising awareness about the high nutritional value of insects, growing preference for innovative protein sources considering the rising greenhouse gas emissions from the animal industries, the environmental benefits of insect proteins, the increasing demand for insect proteins in the animal feed industry, and the low risk of transmitting zoonotic diseases with the consumption of insect proteins.
Delvens Industry Expert's Standpoint
As the world population continues to grow, the demand for protein is expected to increase significantly. However, traditional sources of protein such as meat and fish may not be able to meet this demand due to limited resources and environmental concerns. Insect protein, on the other hand, is a promising alternative that has been gaining traction in recent years. The insect protein market has been expanding rapidly, driven by factors such as increasing awareness about the environmental impact of traditional protein sources, growing demand for sustainable and nutritious food, and technological advancements in insect farming and processing.
Competitive Landscape
• InnovaFeed
• EnviroFlight
• Ynsect
• Hexafly
• Protix
• Aspire Food Group
• Chapul
• Nutrition Technologies
• Entomo Farms
• Goterra
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North America to Dominate the Market
North America is anticipated to hold the largest market share in the insect protein market and is anticipated to dominate the market during the forecast period.
The presence of key insect protein manufacturing companies in developed regions such as North America and Europe contributes to these regions' high market share. The market for insect protein-based food products is projected to record the fastest growth during the forecast period due to increasing awareness among people.
Key Findings:
• Insects are an essential part of the everyday food intake for over 2 billion people worldwide. Apart from the high protein content, insects are a source of essential fats, high-quality lipids, fiber, vitamins, and minerals such as iron and calcium.
• The key factors positively impacting the growth of the insect protein market are the rising awareness about the high nutritional value of insects, growing preference for innovative protein sources considering the rising greenhouse gas emissions from the animal industries, the environmental benefits of insect proteins, the increasing demand for insect proteins in the animal feed industry, and the low risk of transmitting zoonotic diseases with the consumption of insect proteins.
• The distribution channel segment is further bifurcated into Offline and Online. The offline distribution channel is the most widely used and held the largest market share and is anticipated to dominate the market during the forecast period.
The Report helps to identify the opportunities in Global Regions:
• North America (the United States, Canada, and Mexico)
• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
• South America (Brazil etc.)
• The Middle East and Africa (North Africa and GCC Countries)
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In addition to the market data for Insect Protein Market, Delvens offers a client-centric report and customized according to the company’s specific demand and requirement.
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