Market Outlook

The powder obtained after various levels of drying and processing of edible insects rich in protein content is referred to as edible insect protein powder. Generally, the category of edible insects considered are rich in bioavailable minerals and can offer rich nutrition to human diet in the form of edible insect protein powder. Insects are considered as best sources of protein as compared to other regular protein sources consumed by the humans. The nutrition offered by the insects include monounsaturated (MUFA) and polyunsaturated fatty acids (PUFA), vitamins and minerals including as zinc, iron, magnesium, copper, biotin, selenium, and pantothenic acid. The cost benefits are also high for the manufacturers as most of the feedstock used in the edible insects protein powder is entirely used and has maximum utilization and consumption.

Reasons for Covering this Title

Insect protein powders are the emerging product segments whose penetration varies from country to country. The global market size of edible insects is estimated to be more than US$ 25 Bn and is projected to grow at massive rates. Most of the insect’s body is composed of protein which is ideal for protein alternatives. A rise in weather uncertainties, hike in labor wages, overall has resulted in a rise in plant proteins supply which has offered opportunities for alternative protein including Insect Protein Powders market to grow.

Insect Protein Powders are mainly used in Protein bars and protein-based snacks in the B2C segment, while it is used as a food additive. There have been continued product launches backed by rising demand for protein foods. A UK startup namely Mophagy launched their cricket powder. NutriBug also launched its product cricket protein powder. Asia will rule the Insect Protein Powders market in the long-run due to higher availability of various insects due to the presence of varied climate zones. In the year 2017, Dane Creek Capital increased its stake in Midgard Insect Farm from 48% to 65%. Midgard is an insect producer focused on dog and cat food products. The report encompasses in a deep-dive analysis of the segments and sub-segments of Insect Protein Powders.

Global Insect Protein Powders: Market Segmentation

On the basis of Insect Type, the global Insect Protein Powders market has been segmented as –

  • Crickets
  • Wasps
  • Bees
  • Silkworm
  • Ants
  • Cicada
  • Centipedes
  • Earthworms
  • Dragonflies
  • Scorpions
  • Termites
  • Grasshoppers
  • Moths
  • Others (Locusts, Stink Bugs, Water Bugs, Mealworms, Bagworms)

On the basis of End-Use, the global Insect Protein Powders market has been segmented as –

  • Bakery Products & Confectionery
  • Cookies
  • Protein Bars
  • Energy Bars
  • Protein based Snacks
  • Dietary Supplements
  • Cosmetics
  • Pet Food
  • Animal Feed
  • Others

Global Insect Protein Powders Market: Key Players

Some of the key players operating in the global Insect Protein Powders market are Entomo Farms, Exoprotein, Nutribug, Protix, Proti-Farm, Coast Protein, Aketta, C-fu Foods and others.

Opportunities for Market Participants

According to a research study, insect consumption is spread widely across various parts of the world. However, the consumption of species varies from country to country based on regional preferences. Currently, there are more than 2,000 species have been reported to be edible, and there is potential for 1 million plus species will be categorized as edible in the future. (Source: UN FAO, Edible insects: Prospects for food and feed security, 2013). Advancements in insects rearing to processing technology will augment Insect Protein Powders market in the long-term. Additionally, improvements in product formats, packaging and knowledge awareness across various media platforms will support the Insect Protein Powders market growth.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players 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.

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Insect Protein Powders Market

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