Global Insect Protein Market: Introduction
With the preference of consumers shifting from animal proteins to alternatives, the demand for insect protein is rising continuously. Driven by the increasing government support for insect protein research, in terms of initiative and funding, the insect protein market is registering a significant rise in its global valuation.
This research report on the worldwide insect protein market evaluates market trends and prospects in details to offer a comprehensive study. It also discusses the performance of key market segments and their impacts on the overall growth of this market.
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Global Insect Protein Market: Competitive Analysis & Notable Developments
The food and the feed industries are the two main verticals, wherein insect protein finds prominent usage. Both industries have their separate insect protein producers. Some of the leading producers of insect protein used for food products are:
- Aspire Food Group
- Swarm Nutrition GmbH
- Chapul Cricket Protein
The key producers of insect protein used in feed include:
- AgriProtein Holdings Ltd.
- EnviroFlight LLC
New product launches, development of distribution channels, and strategic alliances are the prominent strategies among players looking to create a niche into the worldwide insect protein market. Some notable developments by insect protein producers in recent times are:
- Recently, InnovaFeed partnered with Cargill, a leading distributor of agricultural products, to offer sustainable feed options to the animal feed industry. According to the agreement, both the companies will market fish feed with insect proteins, together. The companies have declared this step as their support for the development of sustainable aquaculture.
- AgriProtein, a leader in nutrient recycling, entered into an acquisition agreement with Millibeter, a Flanders-based start-up, in December 2018. With this acquisition, AgriProtein has taken the initiative to dominate the Europe insect protein market.
Global Insect Protein Market Dynamics
With the global population rising at a high pace, the need for protein has increased manifold. Since consumers, globally, meet most of their protein needs with animal-derived food products, such as meat, milk, and eggs, their consumption has also surged drastically. In turn, this development is threatening the environmental sustainability. People and food product manufacturers are equally concerned about it and are using all kinds of control measures. The fact that nearly 2,000 species of insects are already eaten by humans and animals for their protein content, many producers regarded it as a lucrative opportunity to foray into the insect protein market. Various products, such as mixed insect snacks, whey protein, cricket pasta, mealworm cookies, honey caterpillar croquettes, and insect protein candies, have been introduced in the global market since then. Researchers expect this scenario to continue in the future, adding to the growth of the global insect protein market.
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Europe and North America to Present Lucrative Growth Opportunities
On a regional basis, the global insect protein market is distributed across Europe, Asia Pacific, Latin America, the Middle East and Africa, and North America. North America and Europe aren’t traditionally insect-eating regions. However, increasing concerns regarding the environmental impact of over-consumption of animal-based food products have shifted North American and European consumers towards insects for proteins and nutrients. Since consumers in these regions aren’t still comfortable with the idea of eating insects, producers here have introduced insect protein in powder form. Protein powders and bars, pasta, and several insect protein-based bakery products are in high demand among consumers in both regions. Going forward, this trend is likely to continue over the next few years and, consequently, support the insect protein markets in North America and Europe significantly.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.