04-Mar-2020 | Zion Market Research
As per Zion Market Research, the global insect protein market was valued at USD 148 million in 2019 and is expected to surpass USD 1400 million by 2025, with a CAGR of 45.7% from 2019–2025. Factors boosting the market comprise the change in preferences to alternative proteins from animal protein owing to the elevated concerns related to future sustainability. In addition to this, increased private and public support for new insect protein research initiatives in both developing and developed economies is also boosting the development of the global market.
The major firms in the global insect protein market for the food application comprise EntomoFarms, Aspire Food Group, Jimini’s, Protifarm, Swarm Nutrition GmbH, Chapul Cricket Protein, EnviroFlight LLC, AgriProtein Holdings Ltd., Ÿnsect, Innovafeed, Protix, and Hexafly.
Food & Beverages Segment Projected To Develop At The Maximum CAGR By 2025
Owing to the increasing requirement of protein options among food & beverage makers to fulfill the rising necessity of users, the acceptance of insect protein has been increasing in the food & beverages section. In addition to this, owing to high population development, the usage of animal products such as egg, meat, and milk carries on to increase. On the other hand, almost 2,000 insect species are already eaten by domestic animals and humans all over the world as fraction of their normal diet, owing to favorable fats, their high protein amount, vitamins, and minerals. This has offered growth avenues for food makers to make an entry in this market and roll out different products such as snacks, protein bars, mealworm cookies, whey protein, honey caterpillar croquettes, cricket pasta, candies, and mixed insect snacks based on insect protein.
Partnerships Between Insect Protein-Based Product Retailers And Manufacturers To Elevate Awareness And Visibility
Elevated price has been some of the primary issues for the firms. Many SMEs have been selling these goods mainly via online channels. On the other hand, owing to the rising awareness related to the advantages of insect protein and to elevate the visibility of insect protein-based goods, many firms have began joining hands with convenience stores and retail chains.
Europe And North America To Rule The Global Insect Protein Market
In most North American and European nations, human usage of insects is very less and often thought culturally taboo or even inappropriate. On the other hand, taking into consideration the increasing population in the globe and the rising requirement for manufacturing traditional beef, pork, and chicken meat, insects are critically considered as an origin of animal protein. Hence, in these areas, since the adoption of edible insects is less, makers have been launching insect protein powder-based goods in the form of protein powder, protein bars, bakery products, and pasta. Since the insects are not visible directly to the users, such goods are accepted easily. Hence, many firms making insect protein goods have been surfacing and are branching out their production plants in European and North American countries.
Browse the full “Insect Protein Market - By Application (Animal Nutrition (Pet Food, Aquafeed, and Poultry Feed), Food & Beverages, and Pharmaceuticals & Cosmetics), By Insect Type (Black Soldier Flies, Crickets, Ants, Mealworms, and Grasshoppers), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/insect-protein-market
The global insect protein market is segmented as follows:
By Insect Type
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