Insect Protein Market

Insect Protein Market Size, Share and Growth Forecast by Insect Type, by Application, and by Region for 2024 - 2031

Report ID: PMRREP31222

Report Type: Ongoing

Format: PPT*, PDF, EXCEL

Industry: Food and Beverages

Report Price

$4900*

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Insect Protein Market Size & Share Analysis

The global insect protein market is expected to rise from US$305.9 Mn in 2024 to US$1,209.5 Mn by the end of 2031. The market is expected to secure CAGR of 21.7% during the forecast period from 2024 to 2031.

Attributes

Key Insights

Insect Protein Market Size (2024E)

S$305.9 Mn

Projected Market Value (2031F)

US$1,209.5 Mn

Global Market Growth Rate (CAGR 2024 to 2031)

21.7%

Historical Market Growth Rate (CAGR 2019 to 2023)

3.7%

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Market Introduction and Key Trends

The concentrate obtained after several levels of drying and processing of edible insects rich in protein content is referred to as insect protein. Protein is a fundamental component of all living cells and contains many ingredients, such as hormones, enzymes, and antibodies that are necessary for the proper functioning of an organism.

The insects are rich sources of protein and are expected to become sustainable alternatives for all protein products in upcoming years. The insect protein contains all essential substances which are available to any other common protein products.

The requirement of protein is increasing all around the world, and the food industry is already under pressure to fulfil the protein demand. Insect protein responds to the demand for sustainable and high-quality protein to feed a growing population.

The feed industry also requires a huge amount of protein in the feed products and the resources are not sufficient to fulfil the demand. Insect protein is used in a wide variety of food and feed products with the help of developing science and technology.

There is a growing recognition of the nutritional benefits of insect protein. Insects are rich in protein, vitamins, minerals, and essential fatty acids, making them a nutritious and healthy food source. Additionally, insect protein often has a favorable amino acid profile, comparable to or even superior to that of traditional animal protein sources.

Insect protein is gaining traction as a versatile and nutrient-dense ingredient for a wide range of food and feed products as consumers become more health-conscious and seek out alternative protein options. This growing awareness of the nutritional value of insect protein is driving its incorporation into various food products, including protein bars, snacks, pasta, and baked goods, as well as animal feed formulations for livestock, poultry, aquaculture, and pets.

Key Trends in the Market

  • Rising shift toward Insect-based Foods
  • Increasing use of inset protein in animal feed
  • Expanding insect protein farming practices
  • Innovation with insect protein by companies
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Key Drivers Shaping the Market

Increasing Adoption of Insect Protein from Food and Beverage Industry

The global food and beverage, animal feed industry are in the search of new ingredients and nutritional sources which can fulfil the consumer’s nutritional demand. The adoption of insect protein has been growing in the food and beverage industry.

The consumption of animal products such as, meat, aquatic animals, milk, and egg continues to rise, which becoming a challenge for environmental sustainability. Plant-based proteins are sufficient to fulfil the demand for animal feed and food industry.

More than 2000 insect species are already being consumed by domestic animals and humans as part of their regular diet owing to their favorable fats, vitamins, high protein content, and minerals. This has created opportunities for food and protein manufacturers to produce a product such as mixed insect snacks, protein bars, protein drinks, whey protein, and many other products based on insect protein.

Growing Global Population, and Food Security Issues

As the global population continues to grow, so does the demand for protein. Traditional livestock farming methods are resource-intensive and may not be sustainable in the long term to meet this growing demand. Insects offer a highly efficient protein source, requiring fewer resources such as land, water, and feed compared to conventional livestock.

There are limitations on the expansion of traditional livestock farming with a finite amount of arable land and freshwater available for agriculture. Insect farming requires significantly less land and water, making it a more sustainable option to produce protein, particularly in regions where agricultural resources are limited.

Insects have a high feed conversion efficiency, meaning they can convert feed into body mass more efficiently than traditional livestock such as cattle or pigs. This efficiency makes insects a highly resource-efficient protein source, helping to address food security challenges by maximizing the use of available resources.

Nutritional Benefits of Insect Protein

Insects are rich in protein, vitamins, minerals, and healthy fats, making them a nutritious alternative to traditional animal protein sources. As more research highlights the nutritional benefits of insect protein, consumers are becoming more receptive to incorporating insects into their diets.

Some insect species contain healthy fats, such as omega-3 and omega-6 fatty acids, which are important for heart health, brain function, and inflammation regulation. Consuming insects as a source of protein can contribute to a balanced diet and promote overall health and well-being.

The nutritional benefits of insect protein are often coupled with its low environmental impact. Compared to traditional livestock farming, insect farming requires fewer resources such as land, water, and feed and produces fewer greenhouse gas emissions.

As consumers become more environmentally conscious, the nutritional benefits of insect protein, combined with its sustainability, make it an attractive option.

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Factors Impeding the Market

High Cost Serves to be a Market Restraining Factor

Insect protein is highly promising and unique animal feed protein because of its nutritional, functional and environmental advantages. However, high legislation, costs and restricted production capacity are the key factors hampering the market growth.

Insect based proteins are costly to produce. The procedures and equipment needed for making these proteins need optimization for large-scale production. There are a few consumers who are ready to pay high costs for the environmental as well as health benefits of protein derived from insects, however several are priced out of this market.

Future Opportunities for the Insect Protein Market Players

Growing Demand for Sustainable Animal Feed from Leading Regions

Europe is importing more than 60% of protein for animal feed, who is in the need of additional sources of protein for the feed industry, where insect protein is become a sustainable alternative to fulfil the protein demand for the animal feed industry.

Asia Pacific is expected to lead the insect protein market due to the varied climate zones and some of the Asia Pacific countries are already consuming insects as their regular diet. This will lead to a wide acceptance of insect protein in the food and feed industry in the region to create opportunities for the market players to bring with novel product launches.

The global young population is considered as most health aware and environmentally conscious, who are seeking alternatives for traditional meat protein. This population is likely to create huge opportunities for global insect protein market in upcoming years.

Increasing Acceptance and Consciousness amid Consumers about Nutritional Benefits

Growing consciousness regarding nutritional and environmental benefits of insect protein increases the huge consumer acceptance with the availability of insect-based food products in mainstream markets, driving market expansion. The demand for insect protein products continues to increase with consumers become more informed regarding the advantages, fueling the market growth further.

Food manufacturers are incorporating insect-based elements into their products, providing consumer nutritious as well as eco-friendly alternatives, consequently fueling the insect protein market expansion globally.

Category-wise Analysis

Animal Feed Segment to Exhibit Notable Market Share

Insect protein is used in both the forms either in liquid or powder form in animal feed additives for providing necessary nutritional to animals to help them in maintaining overall growth. Insect protein powder is mostly preferred in animal feed additives. When mixed to feed mixtures, it helps to provide the weight gain rate in animals, preventing vitamin deficiencies and diseases and improving feed digestion.

Protein originated from insect use in animal feed offers different nutritious elements such as amino acids essential for minerals, vitamins and muscle building. Insect-based protein is also employed in pet food and other kinds of animal feed products.

Region-wise Analysis

Europe to Experience Significant Growth Rate

Europe held the significant market share in 2021 and is estimated to dominate the market over the projection period. This region is known as one of the prominent markets for insect-based protein. It is among the key ingredients consumed in food applications around the old-age customers in Europe.

Insect-based protein is generally utilized for nutritional supplements in the region. But, Europe is yet to realize its complete potential in the beverage space. Increasing demand for insect-based protein in leading economies such as Germany and the United Kingdom is anticipated to fuel the market growth with increasing significance of fiber-fortified products.

The insect protein industry in Europe has been attracting significant investment and fostering innovation in recent years. Startups and established companies alike are developing new technologies and scaling up production to meet the growing demand for insect protein.

Insect protein has diverse applications beyond human consumption, including animal feed, pet food, and agricultural fertilizers. This versatility contributes to the market's growth potential as companies explore new opportunities and markets for insect-based products.

Competitive Landscape for the Insect Protein Market

Companies in the insect protein market offer a wide range of products, including whole insects, insect protein powders, insect-based food products, and ingredients for animal feed and pet food. Diversification of product offerings allows insect protein companies to cater to various market segments and meet the needs of different customers.

Key players in the market are focused on investing in research and development to innovate new and safer insect protein which can be applicable in many varieties of food and feed products. Also looking for the strategic business development in global insect protein market.

Companies in the insect protein market are continuously innovating to improve production efficiency and reduce costs. This includes advancements in insect farming techniques such as automated vertical farming systems, optimized feed formulations, and bioconversion technologies for organic waste. Companies that can develop and implement innovative production methods gain a competitive advantage by increasing scalability, lowering production costs, and ensuring consistent product quality.

Top Industry Players Profiled in the Market

  • Imago Insect Products GmbH
  • Aspire Food Group
  • AgriProtein Holdings Ltd
  • Hexafly
  • EnviroFlight LLC
  • Protifarm
  • Protix
  • Jimini’s
  • EntomoFarms
  • Ÿnsect
  • Chapul Cricket Protein

Contributions by the Market Players in the Insect Protein Market

Ÿnsect

A leading French company that specializes in breeding insects for feed and food applications. They focus on producing high-quality insect protein for animal nutrition.

AgriProtein Holdings Ltd

This South African company is known for its innovative approach to recycling organic waste into insect-based protein. They produce protein-rich feed ingredients for livestock and aquaculture.

Protix

A Dutch company that pioneers insect-based ingredients for animal feed, pet food, and aquaculture. They are known for their sustainable production methods and high-quality insect protein products

Insect Protein Market Report Scope

Attributes

Details

Forecast Period

2024 to 2031

Historical Data Available for

2019 to 2023

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Europe
  • Latin America
  • East-Asia
  • The Middle East & Africa
  • South Asia
  • Oceania

Key Market Segments Covered

  • By Insect Type
  • By Product Type
  • By Application
  • By Region

Key Companies Profiled

  • Imago Insect Products GmbH
  • Aspire Food Group
  • AgriProtein Holdings Ltd
  • Hexafly
  • EnviroFlight LLC
  • Protifarm
  • Protix
  • Jimini’s
  • EntomoFarms
  • Ÿnsect
  • Chapul Cricket Protein

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

Insect Protein Market Segmentation

By Insect Type

  • Black Soldier Flies
  • Crickets
  • Mealworms
  • Ants
  • Grasshoppers
  • Others (Silkworms, Beetles, and Buffalo Worms)

By Product Type

  • Coleoptera
  • Lepidoptera
  • Hymenoptera
  • Orthopetra
  • Others

By Application

  • Food & Beverages
  • Animal Feed
    • Aqua Feed
    • Poultry Feed
    • Pet Food
    • Others (Exotic Pets, Birds, and Swine)
  • Pharmaceutical & Cosmetics

By Region

  • North America
  • Europe
  • Latin America
  • East-Asia
  • The Middle East & Africa
  • South Asia
  • Oceania

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Companies Covered in This Report

Frequently Asked Questions

Increasing adoption of insect protein from food and beverage industry is a key growth driver.

A few of the leading market players operating in the market are Imago Insect Products GmbH, Aspire Food Group, and AgriProtein Holdings Ltd.

Animal feed segment to exhibit notable share in the market.

Increasing acceptance and consciousness amid consumers about nutritional benefits is a key opportunity in the market.

The global insect protein market is expected to rise from US$305.9 Mn in 2024 to US$1209.5 Mn by the end of 2031.

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