Research Reports And Consulting #Insect Protein Market

Unleashing the Potential of Insect Protein: A Market Soaring to Reach $3.3 Billion by 2027 with a CAGR of 33.4%. The global market is a rapidly growing industry, as insects are being increasingly recognized as a sustainable and nutritious source of protein. Insects are high in protein, fat, and minerals, and have a small ecological footprint compared to traditional livestock. They can be farmed using minimal resources and are efficient at converting feed into protein. Additionally, they emit fewer greenhouse gases and produce less pollution than traditional livestock.
The insect protein market is expected to grow in the coming years, driven by increasing demand for sustainable and alternative protein sources, as well as growing awareness of the environmental benefits of insect farming. However, the market is still in its early stages and faces some challenges, such as lack of regulation and consumer acceptance.
The key features of the insect protein market:
Nutritional value: Insects are high in protein, fat, and minerals, and are a rich source of essential amino acids, vitamins and minerals.
Sustainability: Insects are considered a sustainable source of protein because they can be farmed using minimal resources, such as land and water, and have a small ecological footprint compared to traditional livestock.
Versatility: Insects can be used in a variety of food products such as protein bars, protein powders, and snacks.
Potential challenges: The market is still in its early stages and faces some challenges, such as lack of regulation and consumer acceptance.
Growing demand: The market for insect protein is expected to grow in the coming years, driven by increasing demand for sustainable and alternative protein sources, as well as growing awareness of the environmental benefits of insect farming.
North America dominated the insect protein market and is projected to grow with a CAGR of 33.45% during the forecast period (2022 - 2027)
North America is anticipated to hold the largest market share in the insect protein market in 2022, followed by Europe, Asia Pacific, and RoW. The presence of key insect protein manufacturing companies in developed regions such as North America and Europe contributes to these regions' high market share. Many start-ups have been established in the region that provide both edible insects and insect protein-based products for food and feed applications. Enterra Feed Corporation (Canada), Entomo Farms (Canada), EnviroFlight LLC (US), and Aspire Food Group (US) are some of the leading companies providing insect protein-based products. The market for insect protein-based food products is projected to record the fastest growth during the forecast period due to the increasing awareness among people.
Key Market Players
The key players in insect protein market include EnviroFlight (US), InnovaFeed (France), HEXAFLY (Ireland), Protix (Netherlands), Global Bugs (Thailand), Entomo Farms (Canada), and Ynsect (France) among others.

Insect Protein Market was expected to generate a revenue of US$ 0.8 billion in 2022 and is projected to reach US$ 3.3 billion by 2027 at a CAGR of 33.4% from 2022 to 2027. North America is expected to dominate the market by 2027. The growing population and the pressure caused by it on food and feed demand has been a global concern since a decade. As the world population proliferates, the demand for food as well as feed will increase, thereby necessitating an increase in food production by 70%. 

North America dominated the insect protein market and is projected to grow with a CAGR of 33.45% during the forecast period (2022 - 2027) 

North America is anticipated to hold the largest market share in the insect protein market in 2022, followed by Europe, Asia Pacific, and RoW. The presence of key insect protein manufacturing companies in developed regions such as North America and Europe contributes to these regions' high market share. Many start-ups have been established in the region that provide both edible insects and insect protein-based products for food and feed applications. Enterra Feed Corporation (Canada), Entomo Farms (Canada), EnviroFlight LLC (US), and Aspire Food Group (US) are some of the leading companies providing insect protein-based products. The market for insect protein-based food products is projected to record the fastest growth during the forecast period due to the increasing awareness among people. 

The food & beverage segment is the fastest growing among the various application of insect protein during the forecast period 

The major buyers in this market are food and beverage companies, dairy-alternative manufacturers, and feed industrials among others. The supply of insect protein affects the production of insect-based food and beverages production. Insect-based protein is considered a viable alternative source for protein, majorly in food and feed applications. Though whole insects are also available in the market as a rich source of protein, the scope of this report has been limited to only the processed products available as insect protein. 

The offline distribution channel is most widely used and held the largest market share in 2021, primarily owing to its of ease of accessibility and convenience.

Offline distribution includes supermarkets, hypermarkets, convenience stores, and specialist retailers. Few consumers prefer online platform because of ease of accessibility and convenience. The dominance of offline distribution channel is primarily driven by the demand from developing countries. These countries are the large consumers of insect protein and do not have well established online distribution channel.

According to a research report “Insect Protein Market by Insect Type (Cricket, Grasshoppers, Ants, Mealworms, Black Soldier Flies, and Others), Application (Food & Beverages, Animal Nutrition, Pharmaceutical & Cosmetics), Distribution Channel and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global insect protein market will grow to USD 3.3 billion by 2027, growing at a CAGR of 33.4% during the forecast period. The demand for animal protein is expanding quickly in emerging economies. The rising regulatory approvals from the developed regions for use of insect protein is propelling the growth of insect protein market. 

The food & beverage segment is the fastest growing among the various application of insect protein during the forecast period 

The major buyers in this market are food and beverage companies, dairy-alternative manufacturers, and feed industrials among others. The supply of insect protein affects the production of insect-based food and beverages production. Insect-based protein is considered a viable alternative source for protein, majorly in food and feed applications. Though whole insects are also available in the market as a rich source of protein, the scope of this report has been limited to only the processed products available as insect protein.

 Asia Pacific region is witnessing the highest growth rate in the insect protein market 

Southeast Asian countries have a tradition of entomophagy but do not have regulations related to the breeding, sale, and export of insects. However, insect protein manufacturers have a high opportunity in the animal nutrition segment. Pharmaceutical and cosmetics are among the growing segments in the region, especially in China and Japan. The food consumption per capita is projected to increase in Australia, as the population is projected to reach 35.9 million by 2050, according to a report published by Australian Government. The major players include EnviroFlight (US), InnovaFeed (France), HEXAFLY (Ireland), Protix (Netherlands), Global Bugs (Thailand), Entomo Farms (Canada), and Ynsect (France) among others. 

The offline distribution channel is most widely used and held the largest market share in 2021, primarily owing to its of ease of accessibility and convenience.

Offline distribution includes supermarkets, hypermarkets, convenience stores, and specialist retailers. Few consumers prefer online platform because of ease of accessibility and convenience. The dominance of offline distribution channel is primarily driven by the demand from developing countries. These countries are the large consumers of insect protein and do not have well established online distribution channel.

According to a research report “Insect Protein Market by Insect Type (Cricket, Grasshoppers, Ants, Mealworms, Black Soldier Flies, and Others), Application (Food & Beverages, Animal Nutrition, Pharmaceutical & Cosmetics), Distribution Channel and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global insect protein market will grow to USD 3.3 billion by 2027, growing at a CAGR of 33.4% during the forecast period. The demand for animal protein is expanding quickly in emerging economies. The rising regulatory approvals from the developed regions for use of insect protein is propelling the growth of insect protein market.

The food & beverage segment is the fastest growing among the various application of insect protein during the forecast period

The major buyers in this market are food and beverage companies, dairy-alternative manufacturers, and feed industrials among others. The supply of insect protein affects the production of insect-based food and beverages production. Insect-based protein is considered a viable alternative source for protein, majorly in food and feed applications. Though whole insects are also available in the market as a rich source of protein, the scope of this report has been limited to only the processed products available as insect protein.

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Asia Pacific region is witnessing the highest growth rate in the insect protein market

Southeast Asian countries have a tradition of entomophagy but do not have regulations related to the breeding, sale, and export of insects. However, insect protein manufacturers have a high opportunity in the animal nutrition segment. Pharmaceutical and cosmetics are among the growing segments in the region, especially in China and Japan. The food consumption per capita is projected to increase in Australia, as the population is projected to reach 35.9 million by 2050, according to a report published by Australian Government.The major players include EnviroFlight (US), InnovaFeed (France), HEXAFLY (Ireland), Protix (Netherlands), Global Bugs (Thailand), Entomo Farms (Canada), and Ynsect (France) among others.

The offline distribution channel is most widely used and held the largest market share in 2021, primarily owing to its of ease of accessibility and convenience.

Offline distribution includes supermarkets, hypermarkets, convenience stores, and specialist retailers. Few consumers prefer online platform because of ease of accessibility and convenience. The dominance of offline distribution channel is primarily driven by the demand from developing countries. These countries are the large consumers of insect protein and do not have well established online distribution channel.

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The insect protein market is projected to reach USD 1,336 million by 2025, from USD 144 million in 2019, at a CAGR of 45.0 % during the forecast period. Factors driving the market include the shift in preferences from animal protein to alternative proteins such as insect protein due to the increased concerns over future sustainability, and increased public and private support for new insect protein research projects in both developed and developing economies.


Collaborations between insect protein-based product manufacturers and retailers to increase visibility and awareness

Higher costs and visibility of insect protein-based products have been some of the major problems for the companies. Many start-ups have been selling these products majorly through online channels. However, due to the increasing awareness regarding the benefits of insect protein and to increase the visibility of insect protein-based products, many companies have started collaborating with retail chains and other convenience stores. For instance, Eat Grub, a UK-based insect protein-based product manufacturer, collaborated with SOK—one of Finland's largest supermarket groups. SOK would be selling Eat Grub’s products in 400 of its stores. In another instance, insect-based snacks French start-up, Jimini’s, secured a listing with Carrefour, a multinational retailer, to supply items to 300 of its stores. Jimini’s intends to educate and increase awareness regarding insect protein as a future sustainable source for proteins by selling insect-based products in retail stores. Thus, to increase visibility, awareness, and the sales of insect protein-based products, start-ups such as Eat Grub (UK) and Aspire Food Group (US) are collaborating with retail stores, which can be a strategic step to develop the insect protein industry.

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Key Market Players:

Insect protein finds major applications in the food and feed industries, and hence, profiling of major manufacturers of insect protein products for both food and feed applications has been covered in this report. The key companies in the insect protein market for the food application include Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany), while key companies in the feed application include AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ÿnsect (France), Hexafly (Ireland), and Protix (Netherlands). These players are undertaking strategies such as new product developments and launches and divestments to improve their market positions and extend their competitive advantage.

EntomoFarms (Canada) is one of the leading insect technology companies operating in both the food and feed industries. Along with edible insects, the company develops and markets protein products in the Canadian market. It produces approximately 2,500 tons of protein powder for use in both food and feed applications, annually. The company believes in a zero-waste approach and produces frass for fertilizer application. For food application, it develops protein powder from crickets, while for application in the feed industry, the company provides customized solutions.

Ÿnsect (France) is an emerging biotechnology company involved in the manufacturing of specialty products for feed and plant nutrition. The company engages in the bioconversion of organic resources by insects and their processing into nutrients for feed and fertilizer applications. Some of these organic resources include polysaccharides and derivatives, organic fertilizers, and bioenergy. The company has vertically integrated operations. The company also engages in breeding insects; sorting their byproducts; processing valuable products such as protein, oil, chitosan, and frass for multiple industrial applications; as well as packaging and distributing products.

The company launched its lab-scale production of insect protein in 2013, in partnership with multiple research centers, after which the construction of its first commercial plant started in 2017 through multiple funds raised by the company. Ÿnsect owns Ÿnstitute, the world’s leading insect private R&D center dedicated to driving innovative new technologies, products, applications, and know-how.

Protix (Netherlands) is one of the leading insect ingredient companies, with a broad range of offerings based on black soldier flies. The company initiated and founded the International Producers of Insects for Feed and Food (IPIFF), one of the leading associations for insect protein. Protix has been actively tapping the European market for insect protein through both organic and inorganic strategies. The company, recently, in 2017, expanded its portfolio to include other insects such as crickets and mealworms, by acquiring Fair Insects (Netherlands). The company has been entering into partnerships with the leading players in the technology industry intending to enhancing its portfolio and regional presence in Europe. The company not only markets edible insects for animal nutrition but also processes byproducts from insects to provide premium protein-rich products in the market.

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Target Audience
Supply-side: insect protein manufacturers, suppliers, distributors, importers, and exporters
Traders and suppliers of raw materials such as insects
Demand-side: Food manufacturers, processors, and distributors
Regulatory side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
Associations and industry bodies: Food and Agriculture Organization (FAO), US Department of Agriculture (USDA), Grain and Feed Trade Association, and Food Products Association

According to the new market research report "Insect Protein Market by Insect Type (Crickets, Black Soldier Flies, Mealworms, Ants, and Grasshoppers), Application (Food & Beverages, Animal Nutrition (Aquafeed, Pet Food, and Poultry Feed), Pharmaceuticals & Cosmetics), Region – Global Forecast to 2025", published by MarketsandMarkets™, the Insect Protein Market is projected to reach USD 1,336 million by 2025, from USD 144 million in 2019, at a CAGR of 45.0% during the forecast period. The market is driven by factors such as the shift in consumer preference from animal protein to alternative protein such as insect protein due to the increased concerns over future sustainability, and the increased public and private support for new insect protein development projects in both developed and developing economies.

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Due to the resource sustainability associated with the consumption of insects as an alternative protein source in the feed industry, the demand for insect protein is the highest in the animal nutrition segment, by application

Although consuming edible insects has been a tradition since ancient times across Southeast Asian countries, the development of insect-based protein is a recent innovation. Due to the "yuck" factor associated with insect-related products for human consumption, the application of insect protein has gained high acceptance in the feed industry. Fluctuating prices of fishmeal, declining production of fishmeal, and increasing dependence of Europe for animal-based protein (other than bone meal) for livestock nutrition encouraged manufacturers in the region to adopt insect-based protein for feed. Due to these factors, the animal nutrition segment recorded the fastest growth across the globe.

High acceptance of crickets in the food industry due to their high protein content

Due to the high availability and acceptability of crickets and their high protein content, their usage in products, such as protein bars, is very high. Dried cricket powder contains 69% of protein, compared to sirloin beef (29%), dried beef (43%), and chicken (31%). It also contains nine essential amino acids, along with zinc, Vit. B12, iron, potassium, magnesium, sodium, and calcium. Also, cricket flour acts as an alternative for milk, as it contains a high amount of calcium. The use of crickets is profitable in comparison with other livestock proteins, owing to the reduced expenses associated with rearing crickets. Crickets usually require around 2 kg of feed to produce 1 kg of meat, in which around 80% is edible, whereas, cattle require 8 kg of feed to produce the same amount of meat, out of which only 40% is edible.

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North America and Europe dominated the insect protein market in 2018

Insects have been an integral part of the traditional diet in Southeast Asian countries; hence, the adoption of processed products such as insect protein in these countries has been low. The number of players venturing into this market has been high in Europe and North America. Majorly, countries such as France, the Netherlands, Germany, and the US have been accepting these products, Moreover, the recognition of insect protein as novel foods in the European and US markets and the legislative amendment to include insects as a part of feed and food material have boosted the growth opportunities for insect protein in these countries. Majority of the manufacturers are headquartered in these countries and, being small-scale players; their revenues are majorly concentrated in the domestic market. Thus, the market shares of North America and Europe dominated the global market in 2018.

This report includes a study of the development strategies, along with the product portfolios of the leading companies. Insect protein finds major applications in the food and feed industries, and hence, profiles of the major manufacturers of insect protein products for both food and feed applications have been covered in this report. The key companies in the insect protein market for food application include Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini's (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany) while the key companies for the insect protein market the feed application include AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ynsect (France), Hexafly (Ireland), and Protix (Netherlands).

The insect protein market is projected to reach USD 1,336 million by 2025, from USD 144 million in 2019, at a CAGR of 45.0 % during the forecast period. Factors driving the market include the shift in preferences from animal protein to alternative proteins such as insect protein due to the increased concerns over future sustainability, and increased public and private support for new insect protein research projects in both developed and developing economies.


Collaborations between insect protein-based product manufacturers and retailers to increase visibility and awareness

Higher costs and visibility of insect protein-based products have been some of the major problems for the companies. Many start-ups have been selling these products majorly through online channels. However, due to the increasing awareness regarding the benefits of insect protein and to increase the visibility of insect protein-based products, many companies have started collaborating with retail chains and other convenience stores. For instance, Eat Grub, a UK-based insect protein-based product manufacturer, collaborated with SOK—one of Finland's largest supermarket groups. SOK would be selling Eat Grub’s products in 400 of its stores. In another instance, insect-based snacks French start-up, Jimini’s, secured a listing with Carrefour, a multinational retailer, to supply items to 300 of its stores. Jimini’s intends to educate and increase awareness regarding insect protein as a future sustainable source for proteins by selling insect-based products in retail stores. Thus, to increase visibility, awareness, and the sales of insect protein-based products, start-ups such as Eat Grub (UK) and Aspire Food Group (US) are collaborating with retail stores, which can be a strategic step to develop the insect protein industry.

Request Sample of this Report:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=150067243

Key Market Players:

Insect protein finds major applications in the food and feed industries, and hence, profiling of major manufacturers of insect protein products for both food and feed applications has been covered in this report. The key companies in the insect protein market for the food application include Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany), while key companies in the feed application include AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ÿnsect (France), Hexafly (Ireland), and Protix (Netherlands). These players are undertaking strategies such as new product developments and launches and divestments to improve their market positions and extend their competitive advantage.

EntomoFarms (Canada) is one of the leading insect technology companies operating in both the food and feed industries. Along with edible insects, the company develops and markets protein products in the Canadian market. It produces approximately 2,500 tons of protein powder for use in both food and feed applications, annually. The company believes in a zero-waste approach and produces frass for fertilizer application. For food application, it develops protein powder from crickets, while for application in the feed industry, the company provides customized solutions.

Ÿnsect (France) is an emerging biotechnology company involved in the manufacturing of specialty products for feed and plant nutrition. The company engages in the bioconversion of organic resources by insects and their processing into nutrients for feed and fertilizer applications. Some of these organic resources include polysaccharides and derivatives, organic fertilizers, and bioenergy. The company has vertically integrated operations. The company also engages in breeding insects; sorting their byproducts; processing valuable products such as protein, oil, chitosan, and frass for multiple industrial applications; as well as packaging and distributing products.

The company launched its lab-scale production of insect protein in 2013, in partnership with multiple research centers, after which the construction of its first commercial plant started in 2017 through multiple funds raised by the company. Ÿnsect owns Ÿnstitute, the world’s leading insect private R&D center dedicated to driving innovative new technologies, products, applications, and know-how.

Protix (Netherlands) is one of the leading insect ingredient companies, with a broad range of offerings based on black soldier flies. The company initiated and founded the International Producers of Insects for Feed and Food (IPIFF), one of the leading associations for insect protein. Protix has been actively tapping the European market for insect protein through both organic and inorganic strategies. The company, recently, in 2017, expanded its portfolio to include other insects such as crickets and mealworms, by acquiring Fair Insects (Netherlands). The company has been entering into partnerships with the leading players in the technology industry intending to enhancing its portfolio and regional presence in Europe. The company not only markets edible insects for animal nutrition but also processes byproducts from insects to provide premium protein-rich products in the market.

Make an Inquiry:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=150067243

Target Audience
Supply-side: insect protein manufacturers, suppliers, distributors, importers, and exporters
Traders and suppliers of raw materials such as insects
Demand-side: Food manufacturers, processors, and distributors
Regulatory side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies
Associations and industry bodies: Food and Agriculture Organization (FAO), US Department of Agriculture (USDA), Grain and Feed Trade Association, and Food Products Association

The insect protein market is estimated to be valued at USD 144 million in 2019 and is projected to reach USD 1,336 million by 2025, recording a CAGR of 45.0% during the forecast period. The increasing need for protein as nutrition and increasing investments in research & development are some of the factors driving the growth of the insect protein market.

Insect protein is a high-quality protein that is extracted from various types of insects and used in various application such as food, feed, and pharmaceuticals & cosmetics. The nutritional benefits of insect protein, in comparison with animal-based and plant-based protein, is responsible for the wide adoption of insect protein in the North American and European markets. An evidence to this assertion would be the use of crickets in food application due to their high protein, and the experimentation around the application of varied insects or major feed application. Moreover, the declining production of fishmeal, its fluctuating prices, and the pressure on food security have led to an increasing need for a protein substitute, which is fulfilled by these insects. These factors are projected to drive market growth during the forecast period.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150067243

Insect protein has gained traction from various firms in the past five years. Multiple capital investors have been willing to invest in emerging insect protein manufacturers. This is due to the rising awareness about the benefits of insect protein and also the necessity to develop alternative sources of protein to meet the rising global demand. Companies such as Cargill (US) and PepsiCo (US) are directing their investment toward this market, which has raised the credibility of insect protein products. In 2019, Cargill (US) and InnovaFeed (France) entered into a strategic partnership to bring sustainable and innovative feed options to the animal nutrition industry. Through the partnership, Cargill (US) and InnovaFeed (France) would collaborate to market fish feed jointly, which includes insect protein. The partnership would also enable both the partners to support the growth of sustainable aquaculture. Established companies have also been investing in start-ups to provide them monetary support for research & development, expansion of their production facilities, and marketing strategies related to brand awareness. In 2017, PepsiCo (US) entered the insect protein market through an investment in a start-up company called Jimini's (UK), a producer of insect-based food products in Europe.

Government initiatives and support encourage companies to invest in insect farming or insect protein-based products and encourage people to include insects in their diets. For instance, in July 2015, the USDA funded a project that focused on insect farming for human food, concentrating on improving the efficiency and lowering costs in farming crickets. The project was led by a Georgia-based company, All Things Bugs LLC, which studied methods to increase automation in raising crickets. The project particularly focused on harvesting, watering, and feed formulations, with end goals to enhance cricket growth while lowering the cost of raising them, which, in turn, can decrease the price of cricket powder. In June 2017, Protix, a Netherlands-based company, raised USD 50.5 million in equity and debt funding in which the major investors were Brabant Development Agency (BOM), Rabobank, and Aqua-Spark, along with other private investors who had participated in the investment.

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In response, as general awareness and concern for the loss of tropical forest ecosystems and biodiversity, the government of Papua New Guinea deemed insects a national resource and a candidate for economic development. This policy resulted in the establishment of the Insect Farming and Trading Agency (IFTA) in 1978, which focused on creating income-producing opportunities for villages through non-destructive extraction of forest resources while at the same time creating an incentive for preservation. Thus, with proper regulations and government support, the number of insect farms and protein ingredient manufacturers focusing on insect protein-based food and feed is projected to increase during the forecast period.

The insect protein market is estimated to be valued at USD 144 million in 2019 and is projected to reach USD 1,336 million by 2025, recording a CAGR of 45.0% during the forecast period. The increasing need for protein as nutrition and increasing investments in research & development are some of the factors driving the growth of the insect protein market.

Insect protein is a high-quality protein that is extracted from various types of insects and used in various application such as food, feed, and pharmaceuticals & cosmetics. The nutritional benefits of insect protein, in comparison with animal-based and plant-based protein, is responsible for the wide adoption of insect protein in the North American and European markets. An evidence to this assertion would be the use of crickets in food application due to their high protein, and the experimentation around the application of varied insects or major feed application. Moreover, the declining production of fishmeal, its fluctuating prices, and the pressure on food security have led to an increasing need for a protein substitute, which is fulfilled by these insects. These factors are projected to drive market growth during the forecast period.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150067243

Insect protein has gained traction from various firms in the past five years. Multiple capital investors have been willing to invest in emerging insect protein manufacturers. This is due to the rising awareness about the benefits of insect protein and also the necessity to develop alternative sources of protein to meet the rising global demand. Companies such as Cargill (US) and PepsiCo (US) are directing their investment toward this market, which has raised the credibility of insect protein products. In 2019, Cargill (US) and InnovaFeed (France) entered into a strategic partnership to bring sustainable and innovative feed options to the animal nutrition industry. Through the partnership, Cargill (US) and InnovaFeed (France) would collaborate to market fish feed jointly, which includes insect protein. The partnership would also enable both the partners to support the growth of sustainable aquaculture. Established companies have also been investing in start-ups to provide them monetary support for research & development, expansion of their production facilities, and marketing strategies related to brand awareness. In 2017, PepsiCo (US) entered the insect protein market through an investment in a start-up company called Jimini's (UK), a producer of insect-based food products in Europe.

Government initiatives and support encourage companies to invest in insect farming or insect protein-based products and encourage people to include insects in their diets. For instance, in July 2015, the USDA funded a project that focused on insect farming for human food, concentrating on improving the efficiency and lowering costs in farming crickets. The project was led by a Georgia-based company, All Things Bugs LLC, which studied methods to increase automation in raising crickets. The project particularly focused on harvesting, watering, and feed formulations, with end goals to enhance cricket growth while lowering the cost of raising them, which, in turn, can decrease the price of cricket powder. In June 2017, Protix, a Netherlands-based company, raised USD 50.5 million in equity and debt funding in which the major investors were Brabant Development Agency (BOM), Rabobank, and Aqua-Spark, along with other private investors who had participated in the investment.

Make an Inquiry:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=150067243

In response, as general awareness and concern for the loss of tropical forest ecosystems and biodiversity, the government of Papua New Guinea deemed insects a national resource and a candidate for economic development. This policy resulted in the establishment of the Insect Farming and Trading Agency (IFTA) in 1978, which focused on creating income-producing opportunities for villages through non-destructive extraction of forest resources while at the same time creating an incentive for preservation. Thus, with proper regulations and government support, the number of insect farms and protein ingredient manufacturers focusing on insect protein-based food and feed is projected to increase during the forecast period.

The insect protein market is estimated to be valued at USD 144 million in 2019 and is projected to reach USD 1,336 million by 2025, recording a CAGR of 45.0% during the forecast period. The increasing need for protein as nutrition and increasing investments in research & development are some of the factors driving the growth of the insect protein market.

Insect protein is a high-quality protein that is extracted from various types of insects and used in various application such as food, feed, and pharmaceuticals & cosmetics. The nutritional benefits of insect protein, in comparison with animal-based and plant-based protein, is responsible for the wide adoption of insect protein in the North American and European markets. An evidence to this assertion would be the use of crickets in food application due to their high protein, and the experimentation around the application of varied insects or major feed application. Moreover, the declining production of fishmeal, its fluctuating prices, and the pressure on food security have led to an increasing need for a protein substitute, which is fulfilled by these insects. These factors are projected to drive market growth during the forecast period.

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150067243

Insect protein has gained traction from various firms in the past five years. Multiple capital investors have been willing to invest in emerging insect protein manufacturers. This is due to the rising awareness about the benefits of insect protein and also the necessity to develop alternative sources of protein to meet the rising global demand. Companies such as Cargill (US) and PepsiCo (US) are directing their investment toward this market, which has raised the credibility of insect protein products. In 2019, Cargill (US) and InnovaFeed (France) entered into a strategic partnership to bring sustainable and innovative feed options to the animal nutrition industry. Through the partnership, Cargill (US) and InnovaFeed (France) would collaborate to market fish feed jointly, which includes insect protein. The partnership would also enable both the partners to support the growth of sustainable aquaculture. Established companies have also been investing in start-ups to provide them monetary support for research & development, expansion of their production facilities, and marketing strategies related to brand awareness. In 2017, PepsiCo (US) entered the insect protein market through an investment in a start-up company called Jimini's (UK), a producer of insect-based food products in Europe.

Government initiatives and support encourage companies to invest in insect farming or insect protein-based products and encourage people to include insects in their diets. For instance, in July 2015, the USDA funded a project that focused on insect farming for human food, concentrating on improving the efficiency and lowering costs in farming crickets. The project was led by a Georgia-based company, All Things Bugs LLC, which studied methods to increase automation in raising crickets. The project particularly focused on harvesting, watering, and feed formulations, with end goals to enhance cricket growth while lowering the cost of raising them, which, in turn, can decrease the price of cricket powder. In June 2017, Protix, a Netherlands-based company, raised USD 50.5 million in equity and debt funding in which the major investors were Brabant Development Agency (BOM), Rabobank, and Aqua-Spark, along with other private investors who had participated in the investment.

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In response, as general awareness and concern for the loss of tropical forest ecosystems and biodiversity, the government of Papua New Guinea deemed insects a national resource and a candidate for economic development. This policy resulted in the establishment of the Insect Farming and Trading Agency (IFTA) in 1978, which focused on creating income-producing opportunities for villages through non-destructive extraction of forest resources while at the same time creating an incentive for preservation. Thus, with proper regulations and government support, the number of insect farms and protein ingredient manufacturers focusing on insect protein-based food and feed is projected to increase during the forecast period.