Global Insect Protein Market Size, Share, and COVID-19 Impact Analysis, By Application (Food & Beverages, Animal Nutrition, Pharmaceutical & Cosmetics), By Insect Type (Cricket, Grasshoppers, Ants, Mealworms, Black Soldier Flies, and Others), By Distribution Channel (Offline, Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032Industry: Food & Beverages
Global Insect Protein Market Insights Forecasts to 2032
- The Global Insect Protein Market Size was valued at USD 0.7 Billion in 2022.
- The Market is Growing at a CAGR of 25.5% from 2022 to 2032
- The Worldwide Insect Protein Market Size is expected to reach USD 6.8 Billion by 2032
- Asia Pacific is Expected to Growth the fastest during the forecast period
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The Global Insect Protein Market Size is anticipated to exceed USD 6.8 Billion by 2032, growing at a CAGR of 25.5% from 2022 to 2032. Over the forecast period, demand for insect protein is anticipated to be driven by rising consumer awareness about the consumption of nutritional food products and a growing preference for healthier lifestyles. Increased awareness of health among consumers worldwide has driven up the demand for nutritious and healthy food goods, creating opportunities for producers in a variety of industries to provide such food products.
The global insect protein market has experienced significant growth in recent years and is poised for continued expansion. Insect protein, derived from various insect species such as, mealworms, and black soldier flies, is gaining traction as a sustainable and nutritious alternative to traditional animal protein sources. One of the key drivers behind the market's growth is the increasing demand for sustainable food solutions. Insect protein production requires significantly less land, water, and feed compared to conventional livestock farming. Moreover, insects emit fewer greenhouse gases and have a lower environmental impact. As consumers become more conscious of the ecological footprint of their dietary choices, the appeal of insect protein as a sustainable protein source has grown. Another factor driving the market is the nutritional value of insect protein. It is rich in essential amino acids, vitamins, and minerals, making it a viable option for addressing malnutrition and protein deficiencies in developing countries. Additionally, insect protein has gained popularity among fitness enthusiasts and health-conscious consumers looking for alternative protein sources to support their dietary goals.
The market is witnessing increased investment and research activities to develop innovative insect protein products. Companies are exploring new processing techniques and flavors to enhance the palatability and versatility of insect protein-based foods. Furthermore, collaborations between insect protein manufacturers and food companies are expanding the availability of insect-based products in mainstream retail channels.
This research report categorizes the market for the global insect protein market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the insect protein market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the insect protein market.
Global Insect Protein Market Report Coverage
|Market Size in 2022:||USD 0.7 Billion|
|Forecast Period 2022-2032 CAGR:||25.5%|
|2032 Value Projection:||USD 6.8 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||137|
|Segments covered:||By Application, By Insect Type, By Distribution Channel, By Region.|
|Companies Covered:||EnviroFlight, InnovaFeed, HEXAFLY, Protix, Global Bugs, Entomo Farms, Ynsect, Aspire Food Group, Chapul, Goterra, Nutrition Technologies, Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Insect protein is highly nutritious, containing essential amino acids, vitamins, minerals, and healthy fats. It is often considered a complete protein source, meaning it provides all the essential amino acids required by the human body. This nutritional profile has garnered attention from health-conscious consumers, athletes, and individuals following specialized diets. Insect protein is particularly appealing to those seeking alternative protein sources that are both sustainable and nutrient-dense.
Companies in the insect protein market are investing in research and development to create innovative products that appeal to a wide range of consumers. They are developing new processing techniques to improve the taste, texture, and overall palatability of insect-based foods. Furthermore, insect protein is being incorporated into a variety of food products, including protein bars, snacks, pasta, and burgers. This diversification of insect protein products has expanded their availability and accessibility to consumers.
The regulatory landscape surrounding insect protein varies across different regions and countries. Some jurisdictions have strict regulations regarding the use of insects as food or animal feed, which creates barriers for insect protein manufacturers and limits market access. Harmonizing regulations and establishing clear guidelines for insect protein production, processing, and labeling would facilitate market growth.
Insect protein products often face price competitiveness challenges compared to traditional protein sources. The cost of insect production, especially at smaller scales, can be relatively high due to factors such as feed costs, infrastructure, and regulatory compliance. Lowering production costs through technological advancements, economies of scale, and efficient farming methods will be crucial to improve price competitiveness.
The Global Insect Protein Market share is classified into application, insect type, and distribution channel.
- The food & beverages segment is expected to hold the largest share of the global insect protein market during the forecast period.
The global insect protein market is segmented by application into food & beverages, animal nutrition, pharmaceutical & cosmetics. Among these, the food & beverages segment is expected to hold the largest share of the global insect protein market during the forecast period. The rising consumer demand for sustainable protein sources, coupled with the development of innovative insect protein-based food products, has fueled the growth of this segment. Insect protein is increasingly being incorporated into food and beverage products. It serves as a sustainable and nutritious ingredient in items such as protein bars, snacks, pasta, bakery goods, and beverages. Insect protein offers a complete amino acid profile and is rich in vitamins, minerals, and healthy fats.
- The cricket segment is expected to grow at the highest pace in the global insect protein market over the forecast period.
Based on the insect type, the global insect protein market is divided into cricket, grasshoppers, ants, mealworms, black soldier flies, and others. Among these, the cricket segment is expected to grow at the highest pace in the global insect protein market over the forecast period. The reason behind the growth is, they are widely available, have a favorable taste profile, and are well-established in the food industry. Crickets can be processed into powder, flakes, or whole form and are used in a wide range of food products such as protein bars, snacks, and baked goods. They are known for their mild, nutty flavor and have gained popularity as a sustainable protein source in the food industry.
- The offline segment is expected to hold the largest share of the global insect protein market during the forecast period.
Based on the distribution channel, the global insect protein market is divided into offline and online. Among these, the offline segment is expected to hold the largest share of the global insect protein market during the forecast period. The offline distribution channel's dominance is mainly driven by demand from developing countries. The offline segment refers to traditional brick-and-mortar retail channels, including supermarkets, grocery stores, health food stores, specialty stores, and foodservice establishments. Offline distribution allows consumers to physically browse and purchase insect protein products from physical locations. This segment holds a substantial share of the global insect protein market due to its established infrastructure and consumer familiarity with traditional retail channels.
Regional Segment Analysis of the Global Insect Protein Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is estimated to hold the largest share of the global insect protein market over the predicted timeframe.
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North America is expected to hold the largest share of the global insect protein market during the forecast period. The region has witnessed significant growth in insect protein consumption due to the rising demand for sustainable and alternative protein sources. Increasing awareness about the environmental impact of traditional livestock farming, coupled with a strong focus on health and wellness, has fueled the adoption of insect protein in North America. Additionally, the presence of innovative insect protein companies, research initiatives, and supportive regulatory frameworks has contributed to the market's growth in this region.
Asia Pacific is expected to grow at the fastest pace in the global insect protein market during the forecast period. The region has a long history of insect consumption in certain cultures and is witnessing a resurgence of interest in insect protein as a sustainable and nutritious food source. Growing population, changing dietary patterns, and increasing urbanization in countries like China, Thailand, and Vietnam have led to a rise in insect protein production and consumption. Additionally, the region has a strong presence of insect farming facilities and is exploring various insect species for protein extraction.
The report offers the appropriate analysis of the key organizations/companies involved within the global insect protein along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Global Bugs
- Entomo Farms
- Aspire Food Group
- Nutrition Technologies
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In April 2022, Global Bugs has established an agreement with Innovative Natural Solutions. Global Bugs Asia (GBA) and Innovative Natural Solutions (INS) collaborate to promote, support, manufacture, and distribute nutritious food items made from plant-based components and crickets.
- In October 2021, Aspire Food Group's automated production facility in London has been expanded to produce 10,000 tonnes of crickets per year.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Insect Protein Market based on the below-mentioned segments:
Global Insect Protein Market, By Application
- Food & Beverages
- Animal Nutrition
- Pharmaceutical & Cosmetics
Global Insect Protein Market, By Insect Type
- Black Soldier Flies
Global Insect Protein Market, By Distribution Channel
Global Insect Protein Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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