The Global insect protein market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR of 40.12% during the forecast period.
The global insect protein market research delivers a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The global insect protein report is provided for the international markets as well as development trends, competitive landscape analysis, and key region’s development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also considered. This report additionally states import/export consumption, supply and demand Figures, cost, price, revenue, and gross margins.
Definition of Insect Protein:
Insect protein is the powder obtained from dried insects post the removal of oil from them. Insects are a rich source of protein and are being processed to form Insect Proteinthat are used for human and animal nutrition.
Global Insect Protein Market Dynamics:
The growing awareness about the high protein content in insects has varied its application in other industries as well. For example, Insect protein market players are providing insect protein in powder forms to several manufacturers of food & beverages, pharmaceuticals, nutraceuticals, cosmetics, pet food, and animal feed. Also, various insects are being raised for their high protein content and are observing increasing numerous applications as an alternative source of protein, like the feed industry.
The wide availability of insects like crickets, bamboo worms, bagworms, flies, earthworms, beetles, and ants, has prompted the manufacturers to commercialize insect farming and process protein from it. There is a standard processing procedure for livestock but there is nothing for the insects, thus, this provides a great opportunity to the manufacturers to device technology or equipment that can help in the processing of the insect with standard protocol.
On the other hand, the consumption of insect protein by a person having arthropod allergies that cause the cross-reaction or sensitivity is expected to hamper the growth of the global market. Also, the different regulations in different countries and the lack of appropriate processing and rearing guidelines are expected to limit the growth of the insect protein market.
Global Insect Protein Market Segmentation:
By Insect Type, crickets protein is expected to grow at the highest CAGR of XX% during the forecast period. This is mainly because they are considered as complete food and rich in essential and non-essential amino acids. Crickets contain 21.35% of the protein of weight, thus making crickets is the most popular source of protein.
The mealworm protein segment is expected to hold the largest market share of the global market by 2026. They are considered nutritious thanks to their high protein and fat content. The dried mealworm is considered to have around 54% protein, while live worms have around 20% of protein.
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Regional Insights of the Global Insect Protein Market:
Europe held the largest market share of the global market and is expected to grow at the highest CAGR of XX% during the forecast period (2020-2026). A handful of approvals have been approved in Europe for the rearing and consumption of insects such as crickets, black soldier fly, and mealworms which is supporting the growth of the insect protein market in Europe. Also, the market is dominating in the U.K., as to European Union approval of utilizing of insect protein the fish and swine feed products.
North America is expected to hold the second-largest market share by 2026, thanks to wide consumer demand for high protein and vitamin content protein products in their diet. The US accounted for the highest market share in North America and expected to remain dominant throughout the forecast period. This is mainly because of the highest number of manufacturing units in the U.S.
Asia-Pacific have a great opportunity to grow in the highest acceptance rate of the concept of consuming insects. Numerous insects are being raised in several Asia-Pacific countries such as China, Korea, India, Thailand, Malaysia, Vietnam, and others for their direct-consumption.
The report also helps in understanding Global Insect Protein Market dynamics, structure by analyzing the market segments and project the Global Insect Protein Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Insect Protein Market make the report investor’s guide.
Scope of the Global Insect Protein Market: Inquiry before Buying
Global Insect Protein Market, By Insect Type
- Others (Locusts, Stink Bugs, Water Bugs, Mealworms, Bagworms)
Global Insect Protein Market, By End-use
- Bakery Products & Confectionery
- Protein Bars
- Energy Bars
- Protein based Snacks
- Dietary Supplements
- Pet Food
- Animal Feed
Global Insect Protein Market, By Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
Key players operating in the Global Insect Protein Market
- Entomo Farms
- Coast Protein
- C-fu Foods
- EnviroFlight, LCC
- Thailand Unique
- Proti-Farm Holding NV
- Chapul, LLC
- Cricket Flours LLC
- Crik Nutrition
- Seek Food LLC
- Haocheng Mealworms Inc.
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