Market Size of Insect Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.89 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Insect Protein Market Analysis
The insect protein market size is expected to grow from USD 288.38 million in 2023 to USD 348.97 million by 2028, at a CAGR of 3.89% during the forecast period (2023-2028).
- The insect protein has been gaining traction in various parts of the globe due to various factors. European Union officers have suggested that mealworms can be used as a source of protein to fortify cookies, pasta, or baked goods. According to the National Library of Medicine, insect protein can contain a substantial amount of protein. As per an article published by the National Library of Medicine, freeze-dried yellow mealworm larvae contained up to 33% fat, 51% crude protein, and 43% true protein on a dry matter basis.
- Additionally, insect protein is more eco-friendly as compared to raising cattle and other bigger sources of protein. Hence, many regions across the globe have been considering insects as potential sources of protein. Many regions have been witnessing the expansion of insect farms to cater to the growing demand for insect protein for animal feed, food & beverages, supplements, etc. For instance, in May 2022, Russia's first cricket farm was opened in Novosibirsk Oblast. The farm was intended to introduce a new protein source to the feed components market in Russia.
- Insect protein is also being widely used in pet food to increase its nutritional value. Various companies have been increasing their insect protein offerings and expanding to new regions. For instance, in November 2021, Ÿnsect launched its first product in the United States in collaboration with Pure Simple True LLC. The company launched a high-value protein that was used as a core ingredient for the dog treat brand Bernie's in the United States market. Hence, the increasing demand for insect protein ingredients by various end-user industries, coupled with an increased market penetration of insect protein offerings in the market, is anticipated to drive the market studied over the forecast period.
Insect Protein Industry Segmentation
Insect protein can be defined as the protein sourced from edible insects like crickets, mealworms, grasshoppers, etc.
The global insect protein market is segmented by end-user and geography. By end-user, the market studied is segmented into animal feed, food & beverages, and supplements. The food & beverage end-user segment of the insect protein market is further sub-segmented into bakery, beverages, condiments/sauces, confectionery, ready-to-eat/ready-to-cook food products, and snacks. By supplements, the market is segmented into elderly nutrition and medical nutrition. The report also provides an analysis of the emerging and established geographical regions by covering regions, such as North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
The market sizing has been done in value terms in USD and for volume terms in volume in tons for all the abovementioned segments.
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Insect Protein Market Size Summary
The insect protein market is experiencing significant growth, driven by increasing awareness of its nutritional benefits and environmental advantages compared to traditional protein sources like cattle. This market expansion is supported by the rising demand for sustainable and eco-friendly protein alternatives across various regions. Insect protein is being integrated into a wide range of applications, including animal feed, food and beverages, and pet food, due to its high protein content and digestibility. The European Union has been at the forefront of this trend, with government approvals for the use of insects as food ingredients, further propelling market growth. Companies are actively expanding their production capabilities and product offerings to meet the growing demand, with notable developments such as the opening of new insect farms and the introduction of innovative insect-based products in various markets.
Globally, the insect protein market remains fragmented, with numerous players employing strategies like partnerships, mergers, and expansions to enhance their market presence. Key companies are investing in advanced technologies to streamline production processes and improve efficiency. The market is characterized by a diverse range of insect protein products, offering consumers and businesses a wide selection of options. As the demand for alternative protein sources continues to rise, particularly in Europe and Asia, the insect protein market is poised for further expansion. This growth is supported by the increasing recognition of insect protein as a viable and sustainable solution for addressing global protein needs, both for human consumption and animal feed.
Insect Protein Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing Awareness About Insect & Other Alternative Proteins
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1.1.2 Increasing Applications Surge Demand for Insect Protein
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1.2 Market Restraints
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1.2.1 Augmenting Market Penetration of Other Proteins
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 End-User
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2.1.1 Animal Feed
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2.1.2 Food and Beverages
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2.1.2.1 Bakery
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2.1.2.2 Beverages
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2.1.2.3 Condiments/Sauces
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2.1.2.4 Confectionery
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2.1.2.5 RTE/RTC Food Products
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2.1.2.6 Snacks
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2.1.3 Supplements
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2.1.3.1 Elderly Nutrition and Medical Nutrition
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 Italy
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2.2.2.4 France
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2.2.2.5 Rest of Europe
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2.2.3 Asia Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 Australia
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2.2.3.5 Rest of Asia Pacific
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle East & Africa
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2.2.5.1 United Arab Emirates
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2.2.5.2 Saudi Arabia
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2.2.5.3 Iran
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2.2.5.4 South Africa
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2.2.5.5 Rest of Middle East & Africa
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Insect Protein Market Size FAQs
What is the current Global Insect Protein Market size?
The Global Insect Protein Market is projected to register a CAGR of 3.89% during the forecast period (2024-2029)
Who are the key players in Global Insect Protein Market?
Ynsect NL B.V., Darling International Inc. (EnviroFlight), Aspire Food Group, Protix B.V. and Protenga are the major companies operating in the Global Insect Protein Market.
