Insect Protein Market (By Source: Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera; By Application: Food & Beverages, Animal Nutrition, Pharmaceutical & Supplements, Personal Care and Cosmetics) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 20222030

The global insect protein market size was valued at USD 251.9 million in 2020, and is predicted to be worth around USD 3.74 billion by 2030, registering a CAGR of 28.4% during the forecast period 2022 to 2030.

Growth Factors

The growing consumer awareness regarding the consumption of nutritional food products and increasing preference for a healthy lifestyle are expected to drive the demand for insect protein over the forecast period. The insect industry is growing at a fast pace to increase production and supply chain, with a lot of investments, joint ventures, and partnerships. This has increased efficiency,advancements in technology, automation, improvements in genetics, and legislative changes.Moreover, insects are considered as a healthy food source in Western countries, that are packed withnutrients,are ecological,and are a sustainable source for food.

In addition, consumer preference to experiment with new food products for taste and nutritional benefits and that support sustainability is the key factor that positively impactsthe market growth. The growing health consciousness among consumers across the globe has increased the demand for healthy and nutritious food products, thus providing opportunities for manufacturers in various industries to offer healthy and nutritious food products.

The growing consumer awareness regarding the consumption of nutritional food products and increasing preference for a healthy lifestyle are expected to drive the demand for insect protein over the forecast period. The growing health consciousness among consumers across the globe has increased the demand for healthy and nutritious food products, thus providing opportunities for manufacturers in various industries to offer such food products.

Report Coverage

By Source Analysis

Coleoptera dominated the market and held a revenue share of over 30.0% in 2020. The segment includes edible beetles, aquatic beetles, wood-boring larvae, and dung beetles. Coleoptera is fit for human consumption and is offered in various insect-based products including insect-based oil, protein powder, flour, and others.

The orthoptera segmentincludesinsects such as locusts, grasshoppers, and crickets that are widely available, easy to breed, and have high protein content.Lepidoptera is one of the prominent sources of insects used for producing insect protein and covers insects such as caterpillars, butterflies, and moths. 

By Application Analysis

Animal nutrition accounted for the largest revenue share of over 75.0% in 2020. Insect protein is primarily consumed as a feed additive for poultry, aquaculture, and other animals. High digestibilityand amino acid and protein content ranging from 40% to 70% are gaining traction from animal feed manufacturers.

Segments such as pet food and aquaculture will be the profitable segments for manufacturers in animal nutrition.The food and beverages application segment emerged as the second-largest application segment in 2020 and is expected to witness considerable growth over the forecast period.

Functional food products, nutritional bars, and protein-rich products are some of the products for application in the food and beverage industry. Many countries authorizing insects for human consumption are expected to fuel the market growth.

By Regional Analysis

The European region accounted for the largest revenue share of over 30.0% in 2020. The European market has a higher consumer acceptance rate for insect protein for applications such as the food and beverage industry, animal nutrition, and personal care industry. 

North America accounted for a significant revenue share in 2020. The market is expected to be the largest market by 2028owing to the demand for nutritional food products and growing awareness among the consumers regarding the consumption of insect-based products.

The Asia Pacific region is expected to expand at a revenue-based CAGR of 29.05%over the forecast periodowing to the growing consumer base in the countries, including India, China, and Thailand.

Key Players

• InnovaFeed

• EnviroFlight

• Ynsect

• Hexafly

• Protix

• Aspire Food Group

• Chapul

• Nutrition Technologies

• Entomo Farms

• Goterra

Market Segmentation

• By Source 

  • Coleoptera

  • Lepidoptera

  • Hymenoptera

  • Orthoptera

  • Hemiptera

  • Diptera

  • Others

• By Application 

  • Food & Beverages

  • Animal Nutrition

  • Pharmaceutical & Supplements

  • Personal Care and Cosmetics

• Regional

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • U.K.

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE

The insect protein market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of insect protein market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global insect protein market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the insect protein market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted insect protein market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the insect protein capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of insect protein by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global insect protein market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major insect protein market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of insect protein market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the insect protein industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

insect protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to insect protein market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of insect protein market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new insect protein market. These factors have benefited the growth of the global market for insect protein. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for insect protein. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of insect protein are as follows:

• History Year: 2019-2020

• Base Year: 2021

• Forecast Year 2022  to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2019-2021) and forecast (2022-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.