Product Code: AGI 7253
"The insect protein market is projected to grow at a CAGR of 45.0%, in terms of value. The key drivers include increasing investments in R&D and start-ups and rising demand for alternative proteins."
The insect protein market is estimated to be valued at USD 144 million in 2019 and is projected to grow at a CAGR of 45.0%, recording a value of USD 1,336 million by 2025. The growth of the insect protein market is driven by the willingness of multiple capital investors to invest with emerging insect protein manufacturers. This is due to the rising awareness about the benefits of insect protein and the necessity to develop alternative sources of protein to meet the rising global demand.
"The crickets segment in the insect protein market is projected to record the highest CAGR during the forecast period."
Crickets are highly used in products such as powder and protein bar, due to their high availability and acceptability. The use of crickets is profitable in comparison with other livestock protein, owing to the reduced expenses associated with their rearing. They also contain nine essential amino acids, along with zinc, Vit. B12, iron, potassium, magnesium, sodium, and calcium. Cricket flour is an alternative for milk, as it contains a high amount of calcium.
Furthermore, researchers derive a similarity between crickets and shrimps since the digestibility of their protein is almost similar for humans. Also, crickets have been part of the traditional diet in Thailand, and Southeast Asian countries since ages, and hence, the chances of cricket allergy among humans have been observed to be the least. Owing to these reasons, the application of crickets is majorly targeted toward human nutrition.
"The animal nutrition segment held the largest share, by application, in the insect protein market in 2018."
Insect protein manufacturers are mainly focusing on catering to the dietary needs of animals used for agriculture and wildlife management. Insect protein products are fed to zoo and pet animals along with fish. According to the United Nations Food and Agriculture Organization (FAO), the production of animal proteins between 2010 and 2050 is expected to grow by around 1.7% annually. This is due to the growing demand for nutritious, healthy, and safe pet foods. These factors are projected to drive market growth. Moreover, the growing concerns about pet health and willingness among pet owners to spend more on pet food products and medicines are projected to drive the market growth further.
"High growth is projected to be witnessed in the European insect protein market during the forecast period."
The growing trend toward healthy eating and hybrid meat products are among the key drivers of the significantly accelerated traction within the European insect protein market. Increasing research and development in insect technology, and most importantly, the regulatory advancements supported by positive media coverage and greater availability of insect products have further created growth opportunities in this market. Majority of the companies in the insect protein market are headquartered in the European region with key players including Ynsect (France) and Protix (Netherlands) in the feed industry, and Protifarm (Netherlands), Wholi (Denmark), and Jimini's (UK) in the food industry.
Break-up of Primaries:
- By Company Type: Tier 1 - 10 %, Tier 2 - 20%, and Tier 3 - 70%
- By Designation: C-level - 30%, D-level - 20%, and Others*- 50%
- By Region: Asia Pacific - 15%, Europe - 30%, North America- 30%, South America - 15%, and RoW - 10%
Others include: sales managers, marketing managers, and product managers.
Leading players profiled in this report:
- AgriProtein Holdings Ltd (South Africa)
- EnviroFlight LLC (US)
- Innovafeed (France)
- Ynsect (France)
- Hexafly (Ireland)
- Protix (Netherlands)
- Aspire Food Group (US)
- EntomoFarms (Canada)
- Protifarm (Netherlands)
- Jimini's (UK)
- Chapul Cricket Protein (US)
- Imago Insect Products GmbH (Germany)
Research Coverage:
The report segments the insect protein market based on application, insect type, and region. In terms of insights, this report focuses on various levels of analyses-the competitive landscape, end-use analysis, and company profiles-which together comprise and discuss views on the emerging & high-growth segments of the global insect protein market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report:
- To get a comprehensive overview of the insect protein market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights about the major countries/regions in which the insect protein market is flourishing
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 REGIONAL SEGMENTATION
- 1.3.2 PERIODIZATION CONSIDERED
- 1.4 CURRENCY CONSIDERED
- 1.5 UNIT CONSIDERED
- 1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key industry insights
- 2.1.2.2 Breakdown of Primary Interviews
- 2.2 MARKET SIZE ESTIMATION
- 2.3 DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
- 2.5 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 OPPORTUNITIES IN THE INSECT PROTEIN MARKET
- 4.2 INSECT PROTEIN MARKET, BY APPLICATION & REGION
- 4.3 EUROPE: INSECT PROTEIN MARKET
- 4.4 INSECT PROTEIN MARKET, BY INSECT TYPE
- 4.5 INSECT PROTEIN MARKET, BY KEY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MACROECONOMIC INDICATORS
- 5.2.1 GROWING HEALTH CONSCIOUSNESS AMONG CONSUMERS AND INCREASING HEALTH EXPENDITURE
- 5.2.2 DECLINING FISHMEAL PRODUCTION HAS BEEN TRIGGERING INNOVATION IN THE FEED INDUSTRY
- 5.3 MARKET DYNAMICS
- 5.3.1 DRIVERS
- 5.3.1.1 Increasing Investments in R&D and Start-ups
- 5.3.1.2 Increasing Demand for Alternate Protein
- 5.3.1.3 Food Security & Sustainability
- 5.3.2 RESTRAINTS
- 5.3.2.1 Consumer Acceptance
- 5.3.2.2 High Cost
- 5.3.2.3 Microbial Risk and Allergic Reactions
- 5.3.3 OPPORTUNITIES
- 5.3.3.1 Defined Regulations and Government Support
- 5.3.3.2 Collaborations of Insect Protein-based Product Manufacturers with Retailers to Increase Visibility and Awareness
- 5.3.3.3 Opportunities for Food Equipment Manufacturers in Insect Rearing
- 5.3.4 CHALLENGES
- 5.3.4.1 Growing Vegan Trend
- 5.4 REGULATORY FRAMEWORK
- 5.4.1 US
- 5.4.1.1 Feed Application
- 5.4.1.2 Food Application
- 5.4.2 CANADA
- 5.4.3 EUROPE
- 5.4.4 SOUTHEAST ASIAN COUNTRIES
- 5.5 PATENT ANALYSIS
6 INSECT PROTEIN MARKET, BY INSECT TYPE
- 6.1 INTRODUCTION
- 6.2 CRICKETS
- 6.2.1 HIGH ACCEPTANCE IN THE FOOD INDUSTRY DUE TO THEIR HIGH PROTEIN CONTENT
- 6.3 BLACK SOLDIER FLIES
- 6.3.1 INCREASING USE OF BLACK SOLDIER FLY LARVAE FOR FEED APPLICATION
- 6.4 MEALWORMS
- 6.4.1 ACCEPTANCE OF MEALWORMS GAINING PACE IN THE FEED INDUSTRY
- 6.5 GRASSHOPPERS
- 6.5.1 PROTIFARM (FRANCE) COMMERCIALIZING FOOD PRODUCTS WITH GRASSHOPPER PROTEIN IN EUROPE
- 6.6 ANTS
- 6.6.1 COMMERCIALIZATION OF INSECT PROTEIN FROM ANTS FOR FEED AND FOOD APPLICATIONS
- 6.7 OTHERS
7 INSECT PROTEIN MARKET, BY APPLICATION
- 7.1 INTRODUCTION
- 7.2 FOOD & BEVERAGES
- 7.2.1 HIGH PROTEIN CONTENT HAS ENCOURAGED AMERICAN AND EUROPEAN POPULATION TO ACCEPT INSECT PROTEIN-BASED FOOD PRODUCTS
- 7.3 ANIMAL NUTRITION
- 7.3.1 AQUAFEED
- 7.3.1.1 Nearly 90% of the feed insect protein products developed across the globe are directed toward aquafeed application
- 7.3.2 POULTRY FEED
- 7.3.2.1 Food security issue raised for soybean meal has led to the increasing demand for insect protein
- 7.3.3 PET FOOD
- 7.3.3.1 Dogs and cats are the major pets fed with insect protein-based products
- 7.3.4 OTHERS
- 7.4 PHARMACEUTICAL & COSMETICS
- 7.4.1 HIGH PRICES AND THE NEED FOR ADVANCED EXTRACTION AND PURIFICATION TECHNOLOGIES ARE INHIBITING THE GROWTH POTENTIAL OF THE MARKET
8 INSECT PROTEIN MARKET: IMPACT ANALYSIS
- 8.1 IMPACT ANALYSIS OF INSECT PROTEIN ON ADJACENT APPLICATIONS
- 8.2 IMPACT ANALYSIS OF INSECT PROTEIN IN KEY REGIONS
9 INSECT PROTEIN MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.1.1 Increasing government regulations help manufacturers to standardize the manufacturing process
- 9.2.2 CANADA
- 9.2.2.1 Increasing public and private support drives the insect protein market growth
- 9.2.3 MEXICO
- 9.2.3.1 Insect protein manufacturers have great opportunity to set up their insect rearing units in Mexico due to favorable climatic conditions with a view to reduce manufacturing costs
- 9.3 EUROPE
- 9.3.1 FRANCE
- 9.3.1.1 Increasing investments by private investors and support from government is expected to drive the growth of the insect protein market
- 9.3.2 GERMANY
- 9.3.2.1 Increasing expansion of insect protein manufacturers to contribute to the growth of the insect protein market
- 9.3.3 ITALY
- 9.3.3.1 High aquafeed production to drive the growth of the insect protein market
- 9.3.4 THE NETHERLANDS
- 9.3.4.1 Absence of pre-market approval for insect-based products supports manufacturers to tap this market
- 9.3.5 UK
- 9.3.5.1 Rising collaboration of national supermarket chains with insect protein manufacturers have widened the opportunity in food industry
- 9.3.6 REST OF EUROPE
- 9.4 ASIA PACIFIC
- 9.4.1 AUSTRALIA
- 9.4.1.1 The number of start-ups investing in edible insects and insect protein products is increasing in the country
- 9.4.2 CHINA
- 9.4.2.1 Insect rearing is one of the major sources of income in the country owing to which there is good scope for the insect protein market to develop here
- 9.4.3 JAPAN
- 9.4.3.1 Due to high acceptance of edible insects, many new insect protein product-based manufacturers are entering the market
- 9.4.4 THAILAND
- 9.4.4.1 Being one of the major players in the organized edible insect market, there is great opportunity for insect protein-based product manufacturers to establish their presence in the country
- 9.4.5 MALAYSIA
- 9.4.5.1 Due to higher acceptance of edible insects and lower prices of insect protein in the country, there is higher growth potential for the insect protein market in Malaysia
- 9.4.6 REST OF ASIA PACIFIC
- 9.5 REST OF THE WORLD
- 9.5.1 BRAZIL
- 9.5.1.1 Increasing adoption of black soldier fly insect protein in poultry feed
- 9.5.2 SOUTH AFRICA
- 9.5.2.1 AgriProtein (South Africa): A major company manufacturing insect protein for feed application
- 9.5.3 CHILE
- 9.5.3.1 Growing adoption of insect protein for sports nutrition among the youth
- 9.5.4 OTHERS
- 9.5.4.1 Growing awareness about insect protein among animal feed manufacturers
10 COMPETITIVE LANDSCAPE
- 10.1 OVERVIEW
- 10.2 COMPETITIVE LEADERSHIP MAPPING (FEED SECTOR)
- 10.2.1 DYNAMIC CAPITALIZERS
- 10.2.2 INNOVATORS
- 10.2.3 VISIONARY LEADERS
- 10.2.4 EMERGING COMPANIES
- 10.3 STRENGTH OF PRODUCT PORTFOLIO
- 10.4 BUSINESS STRATEGY EXCELLENCE
- 10.5 COMPETITIVE LEADERSHIP MAPPING (FOOD SECTOR)
- 10.5.1 INNOVATORS
- 10.5.2 VISIONARY LEADERS
- 10.5.3 EMERGING COMPANIES
- 10.6 STRENGTH OF PRODUCT PORTFOLIO
- 10.7 BUSINESS STRATEGY EXCELLENCE
- 10.8 COMPETITIVE SCENARIO
- 10.8.1 NEW PRODUCT LAUNCHES
- 10.8.2 EXPANSIONS & INVESTMENTS
- 10.8.3 ACQUISITIONS
- 10.8.4 COLLABORATIONS, PARTNERSHIPS, AGREEMENTS, AND JOINT VENTURES
11 COMPANY PROFILES
(Business overview, Products offered, Recent Developments, SWOT analysis, MNM view)*
- 11.1 INSECT PROTEIN - FEED APPLICATION
- 11.1.1 AGRIPROTEIN HOLDINGS LTD.
- 11.1.2 ENVIROFLIGHT LLC
- 11.1.3 INNOVAFEED
- 11.1.4 YNSECT
- 11.1.5 HEXAFLY
- 11.1.6 PROTIX
- 11.2 INSECT PROTEIN - FOOD APPLICATION
- 11.2.1 JIMINI'S
- 11.2.2 ENTOMO FARMS
- 11.2.3 ASPIRE FOOD GROUP
- 11.2.4 PROTIFARM
- 11.2.5 CHAPUL CRICKET PROTEIN
- 11.2.6 IMAGO INSECT PRODUCTS GMBH
Details on Business overview, Products offered, Recent Developments, SWOT analysis, MNM view might not be captured in case of unlisted companies.
12 APPENDIX
- 12.1 DISCUSSION GUIDE
- 12.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 12.3 AVAILABLE CUSTOMIZATIONS
- 12.4 RELATED REPORTS
- 12.5 AUTHOR DETAILS
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