Market Size of Insect-Based Ingredients Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.89 Billion |
| Market Size (2029) | USD 2.91 Billion |
| CAGR (2024 - 2029) | 8.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Insect-Based Ingredients Market Analysis
The Insect-Based Ingredients Market size is estimated at USD 1.89 billion in 2024, and is expected to reach USD 2.91 billion by 2029, growing at a CAGR of 8.90% during the forecast period (2024-2029).
- The market will have a strong growth in the coming years owing to the trends such astechnological improvements in gene mapping, rising costs of animal feed ingredients and increasing demand for consumption of insects which will lead to an increased usage of insect-based ingredients.
- However, around 2,000 insect species are already consumed by humans and domestic animals across the globe as part of their regular diet, due to their high protein content, favorable fats, minerals, and vitamins. This has provided opportunities for food producers to enter this market and launch various products such as protein bars, snacks, whey protein, mealworm cookies, cricket pasta, honey caterpillar croquettes, mixed insect snacks, and candies based on insect protein.
Insect-Based Ingredients Industry Segmentation
Insects such as grasshopper, locust, and cricket belong to the orthoptera family and are widely used as ingredients for insect-based human foods. Insects used as feed for livestock have less market penetration, as compared to regular feed. Fish meal, fish oil, soybeans, and several other grains (regular feed) are the most commonly used ingredients in animal feed. According to FAO, procurement of these key ingredients accounts for over 65% of the production costs, in the manufacture of animal feed. In addition, the price of these raw materials is observed to be increasing at a significant rate in the recent years. The usage of fish for non-food uses (to make insect feed and to be used as vaccines) is reducing for the past two decades.
| Usage | |
| Insect-Based Animal Feed | |
| Insect-Based Pharmaceutical Products | |
| Insect-Based Human Food and Beverage | |
| Others |
| Insect Type | |
| Beetles | |
| Caterpillar | |
| Hymenoptera | |
| Orthoptera | |
| Tree Bugs | |
| Other Insect Types |
| Geography | ||||||||
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Insect-Based Ingredients Market Size Summary
The insect-based ingredients market is poised for significant growth over the forecast period, driven by technological advancements in gene mapping and the rising costs of traditional animal feed ingredients. The increasing acceptance and consumption of insects as a food source, due to their high nutritional value, has opened up new avenues for food producers to introduce a variety of products such as protein bars, snacks, and mealworm-based foods. This trend is further supported by the demand for alternative protein sources in the aquafeed industry, where edible insects are seen as a cost-effective substitute for fishmeal and soymeal. The growing aquaculture sector, particularly in regions like Asia-Pacific, is expected to bolster the demand for insect-based ingredients, creating substantial opportunities for manufacturers and farmers in the industry.
The Asia-Pacific region, especially Southeast Asia and China, is anticipated to be a key growth area for the insect-based ingredients market. The shift towards a protein-rich diet and the health benefits associated with insect consumption are driving demand in this region. The aquaculture industry's reliance on affordable and nutritious feed options is further propelling the market for insect feed ingredients. The market is highly concentrated, with major players like Enviroflight, Agri Protein, Ynsect, Protix B.V., and Entomo Farms dominating the landscape. These companies are focusing on expanding their presence in Asia-Pacific, either by investing in new production facilities or acquiring smaller players, to capitalize on the growing demand for insect-based ingredients.
Insect-Based Ingredients Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.4 Market Restraints
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1.5 Industry Attractiveness - Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Usage
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2.1.1 Insect-Based Animal Feed
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2.1.2 Insect-Based Pharmaceutical Products
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2.1.3 Insect-Based Human Food and Beverage
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2.1.4 Others
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2.2 Insect Type
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2.2.1 Beetles
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2.2.2 Caterpillar
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2.2.3 Hymenoptera
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2.2.4 Orthoptera
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2.2.5 Tree Bugs
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2.2.6 Other Insect Types
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Thailand
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2.3.3.5 Iran
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Egypt
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2.3.5.3 Rest of Middle East and Africa
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Insect-Based Ingredients Market Size FAQs
How big is the Insect-Based Ingredients Market?
The Insect-Based Ingredients Market size is expected to reach USD 1.89 billion in 2024 and grow at a CAGR of 8.90% to reach USD 2.91 billion by 2029.
What is the current Insect-Based Ingredients Market size?
In 2024, the Insect-Based Ingredients Market size is expected to reach USD 1.89 billion.
