The Global Insect Protein Market is valued at USD 812.5 Million in 2022 and is expected to reach USD 5918.5 Million by 2029 with a CAGR of 32.8% over the forecast period.

Global Insect Protein Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2023-2029-  Increasing innovation in food & technology, rising research and development activities in this field and growing awareness of the nutritional benefits of insect protein are major factors anticipated to drive the growth of the Global Insect Protein Market within the Forecast Period.

Scope–

The highly nutritious feedstock obtained from insects that can be used as an ingredient for feed for animals is known as insect protein. It is derived from edible insects and depending on what species are fed with it, different insects are recommended in their diets .Insects  are a prominent source of protein and gaining attention as a sustainable protein alternative. Insects such as grasshoppers, mealworms, crickets, black soldier flies and ants have a high protein content and can be easily raised up in areas with nominal resources. The advantages of using insects as a source of protein are they have high feed conversion rates, and the advantage of a low environmental food print requiring substantially less land and water for production. Insects can be reared on food waste, which would otherwise be destined for landfill, and are extremely efficient converters of waste to protein.

The Covid-19 pandemic has had a mixed impact on the growth of the global insect protein market. On the one hand, the pandemic has increased interest in alternative protein sources as consumers seek out healthier and more sustainable food options. This has led to increased demand for insect-based products, particularly in the pet food and aquaculture industries. On the other hand, the pandemic has disrupted global supply chains and caused economic uncertainty, leading to challenges for insect protein producers. In addition, the closure of restaurants and other food service businesses during lockdowns has led to a decline in demand for certain insect protein products.

The global insect protein market is segmented on the basis of insect type, application and region & country level. On the basis of insect type, the global insect protein market is segmented into Crickets, Black soldier flies, Mealworms, Ants, Grasshoppers and Others. On the basis of application, the market is segmented into food & beverages, animal nutrition, personal care & cosmetics and others.

The regions covered in global insect protein market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global insect protein market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.

Key Players-

Some of the key players for global insect protein market are -

• Hexafly Company
• Aspire Food Group
• EntomoFarms
• Swarm Nutrition
• Chapul Cricket Protein GmbH
• InnovaFeed SAS
• AgriProtien Holdings Ltd.
• EnviroFlight LLC
• Protix
• SAS Ynsect
• others

Segmentation-

By Insect Type:-

• Crickets
• Black soldier flies
• Mealworms
• Ants
• Grasshoppers
• Others

By Application:-

• Food & Beverages
• Animal Nutrition
• Personal Care & Cosmetics
• Others

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Increasing Innovation in Food & Technology, Rising Number of Research and Development Activities in This Field and Growing Awareness regarding the Nutritional Benefits of Insect Proteins are Some of the Major Factors Anticipated to Drive the Market Growth

One of the major factors driving the growth of the global insect protein research is increasing innovation in food and technology. Insect protein is important element of and lack of protein, or poor protein quality, can compromise nutritional status. Insects have been recognized as an alternative source which  provide a highly sustainable source of protein with excellent nutritional benefits. In addition, they are multipurpose ingredients that can be consumed whole or processed into powders, pastes, and oils. The increasing number of projects to grow awareness and build a viable market for insect-based products are also driving the market growth. For instance; to enhance its production of insect protein from black army flies EnviroFlight LLC built its first industrial production facility in January 2021.

In addition, growing number of strategic partnerships, acquisitions and new product launches, development of distribution channels by key players are also supplementing the market growth. For instance; in November 2021 a partnership established by Innova Feed with one of the major agricultural organizations, Archer Daniels Midland Company.  Moreover, government support for insect protein research investments is adding growth to the market. Regulatory approvals by government are also augmenting the market growth. For instance; first novel insect protein, a yellow mealworm approved by the European Union in July 2021.

However, high costs of insect protein may limit the growth of the global insect protein market. In spite of that, growing number of research and development activities in this field may offer more opportunities for the further growth of the market.

North America is Expected to Dominate the Global Insect Protein Market

North America is expected to dominate the global insect protein market due to increasing demand for sustainable protein sources, rising awareness of the health benefits of insect protein, and growing demand for animal feed. One of the major factors driving the market growth of global insect protein market is high nutrition content of insect protein and growing interest in alternatives to traditional animal protein sources. Infant powders contain eight of the nine essential amino acids (EAAs) for adults as recommended by the World Health Organization(WHO) recommendations for eight of the nine essential amino acids (EAAs) for adults. In addition, companies in the North America insect protein market are developing innovative products such as insect-based snacks, protein bars, and pet food. For example; cricket flour is being used to create protein bars and other food products, and mealworms are being used as a protein source in pet food.

Asia Pacific is the fastest growing region in the global insect protein market due to increasing demand of insect proteins, and growing awareness about alternatives to old-style animal protein. In addition, several governments in the Asia Pacific region are supporting the development of the insect protein industry through funding, research grants, and regulatory support. For example; the Singapore government has launched a program to support the development of the insect protein industry in the country.

News-

Innova Feed Established a Partnership with One of the Major Agricultural Organizations

On November 19^th, 2020; A new facility in Illinois, the U.S., with a goal capacity of 60,000 tonnes of insect protein per annum, the cooperation was created to grow its insect protein business announced by the InnovaFeed.

Bug Farm Foods Launched New Low-Fat Insect and Plant Protein VEXo in Wales

On September 18^th, 2019; A new low-fat insect and plant protein VEXo as part of Welsh Government and Innovate UK under the Small Business Research Initiative (SBRI) project launched by the Bug Farm Foods, an insect protein company.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2022:	USD 812.5 Million
Base year considered	2021
Forecast Period CAGR %:	32.8%
Market Size Expected in 2029:	USD 5918.5 Million
Tables, Charts & Figures:	175
Pages	300
Key Players/Companies	Hexafly Company,  Aspire Food Group, EntomoFarms, Swarm Nutrition, Chapul Cricket Protein, GmbH, InnovaFeed SAS, AgriProtien Holdings Ltd., EnviroFlight LLC, Protix, SAS Ynsect and others
Segments Covered	By Insect Type, By Application
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa