Insect Protein Market Size, Share, Trends, Growth Analysis, Report 2023-2028
Global Insect Protein Market Overview 2023-2028
The global insect protein market size reached US$ 807.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,855.1 Million by 2028, exhibiting a growth rate (CAGR) of 21.30% during 2023-2028
Insect protein refers to the protein extracted from insects, including crickets, mealworms, black soldierflies, and grasshoppers. It is a rich source of essential nutrients, including protein, vitamin B, minerals like iron and zinc, and healthy fats. It provides a well-balanced nutrient profile and serves as a wholesome dietary option. It promotes muscle growth, repair, and overall health. It can be fed with organic waste, which reduces food waste and promotes a circular economy. It has the potential to address food security challenges, especially in areas with limited access to conventional protein sources. Insect protein is a valuable ingredient in animal feed, particularly for poultry, fish, and pets. It enhances the nutritional profile of the feed and reduces the reliance on conventional protein sources like soybeans and fishmeal. It can also be incorporated into traditional dishes and processed into flour for baking and cooking.
Global Insect Protein Market Trends and Drivers:
At present, the increasing awareness about the importance of maintaining environmental sustainability and the need to reduce the carbon footprint of food production represents one of the crucial factors impelling the growth of the market. Besides this, the rising consumption of protein-rich diets to prevent the occurrence of chronic ailments is contributing to the market growth. In addition, as individuals seek healthier and more sustainable protein options, they are embracing insect-based products due to their high nutritional value, low environmental impact, and unique flavors and textures. Innovations in food processing and product development are making insect protein more palatable and accessible to a wider audience. Moreover, regulatory advancements and increased government support for insect farming and processing are removing barriers and creating a conducive environment. Apart from this, advancements in insect farming techniques, automation, and scaling processes are enhancing the efficiency and cost-effectiveness of insect protein production. Additionally, research into insect nutrition, genetics, and breeding is improving the quality and yield of insect-derived proteins, making them more competitive with traditional protein sources.
Global Insect Protein Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
Aspire Food Group, Chapul LLC, Entomo Farms, EnviroFlight LLC (Darling Ingredients), Goterra, Hexafly, InnovaFeed SAS, Jimini’s, nextProtein, Protenga, Protix B.V., etc.
The report segmented the market on the basis of region, source, distribution channel, and application.
Source Insights:
- Coleoptera
- Lepidoptera
- Hymenoptera
- Orthoptera
- Hemiptera
- Diptera
- Others
Distribution Channel Insights:
- Offline
- Online
Application Insights:
- Animal Nutrition
- Aqua Feed
- Poultry Feed
- Others
- Food and Beverages
- Pharmaceutical and Supplements
- Personal Care and Cosmetics
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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