The latest report by IMARC Group, titled “ Insect Protein Market Report by Source (Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera, and Others), Distribution Channel (Offline, Online), Application (Animal Nutrition, Food and Beverages, Pharmaceutical and Supplements, Personal Care and Cosmetics), and Region 2024-2032, The global insect protein market size reached US$ 979.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 4,902.4 Million by 2032, exhibiting a growth rate (CAGR) of 19.6% during 2024-2032.
Factors Affecting the Growth of the Insect Protein Industry:
- Environmental Sustainability:
One of the most significant factors driving the insect protein market is its environmental sustainability. Insects require significantly less land, water, and feed compared to traditional livestock. For instance, crickets need six times less feed than cattle to produce the same amount of protein and they emit fewer greenhouse gases. Moreover, insects can be farmed on organic waste, thus reducing the burden on landfills and contributing to a reduction in methane emissions, a potent greenhouse gas. This sustainable aspect is particularly appealing as global awareness about environmental issues such as climate change and biodiversity loss intensify. Governments and organizations are increasingly promoting sustainable agricultural practices, which includes the cultivation of insects as a viable protein source. This shift is supported by various studies indicating that insect farming has a lower ecological footprint, making it a crucial component of sustainable food systems.
- Nutritional Benefits:
Insect protein is rich in high-quality protein, vitamins, minerals, and essential amino acids, making it an excellent dietary supplement. Insects such as mealworms, crickets, and black soldier flies provide iron, magnesium, selenium, zinc, and B vitamins which are vital for various bodily functions including immune response and energy production. The high protein content and the presence of all nine essential amino acids make insects a suitable alternative to more traditional sources of animal protein. This nutritional profile meets the needs of various consumer groups, from athletes seeking lean protein to health-conscious individuals looking to diversify their diet. As global health consciousness rises, consumers are increasingly open to incorporating alternative proteins into their diets, which supports the growth of the insect protein market. Moreover, ongoing research continues to explore the health benefits of insect consumption, potentially uncovering unique properties that could further enhance its market appeal.
- Increasing Demand for Alternative Proteins:
The global demand for protein is rising, driven by population growth and increasing income levels, especially in developing countries. This demand puts pressure on traditional protein sources, leading to higher food prices and environmental degradation. Insect protein offers a viable solution by providing an alternative protein source that is sustainable and also scalable. Advances in farming technology and processing methods have made insect protein more accessible and affordable. Furthermore, the growing acceptance of insect protein in Western markets, where it was previously viewed with skepticism, is testament to changing consumer attitudes toward alternative proteins. The inclusion of insect protein in a variety of products, from snack bars to protein powders, reflects its growing popularity and its potential to significantly impact the global protein supply chain.
Competitive Landscape with Key Player:
- Aspire Food Group
- Chapul LLC
- Entomo Farms
- EnviroFlight LLC (Darling Ingredients)
- Goterra, Hexafly
- InnovaFeed SA
- Jimini’s, nextProtein
- Protenga
- Protix B.V.
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Report Segmentation:
The report has segmented the market into the following categories:
Source Insights:
- Coleoptera
- Lepidoptera
- Hymenoptera
- Orthoptera
- Hemiptera
- Diptera
- Others
Based on the source, the market has been divided into coleoptera, lepidoptera, hymenoptera, orthoptera, hemiptera, diptera, and others.
Distribution Channel Insights:
- Offline
- Online
Offline holds maximum number of shares as they offer consumers the tactile experience and immediate access to products, which is especially important for new and emerging items such as insect protein where physical product evaluation can encourage trial and adoption.
Application Insights:
- Animal Nutrition
- Aqua Feed
- Poultry Feed
- Others
- Food and Beverages
- Pharmaceutical and Supplements
- Personal Care and Cosmetics
Animal nutrition represents the largest segment as insect protein provides a sustainable, nutrient-rich, and cost-effective feed alternative that improves the health and growth rates of livestock and aquaculture.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Europe’s dominance in the insect protein market is attributed its strong regulatory support for sustainable agricultural practices, high consumer acceptance of alternative proteins, and advanced insect farming technologies.
Global Insect Protein Market Trends:
As the global population continues to rise, food security becomes a pressing issue, particularly in densely populated and developing regions. Insect protein offers a highly efficient way to produce protein-rich food from relatively low resource inputs, presenting a sustainable solution to enhance food security. The ability of insects to convert feed into protein efficiently and their less stringent farming conditions make them an attractive option for enhancing protein availability in food-scarce areas. Other than this, beyond human consumption, insect protein is increasingly used in animal feed, especially for aquaculture and poultry. The high protein content and essential amino acids profile make insects an excellent feed ingredient, promoting better growth, health, and feed conversion rates in livestock and aquaculture. As the demand for sustainable and efficient feed options grows, the use of insect protein in animal feed is likely to expand, further driving its market growth
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