Insect Protein Market by Insect Type (Crickets, Black Soldier Flies, Mealworms, Grasshoppers), Application (Food & Beverages, Animal Nutrition, Aquafeed, Poultry Feed, Pet Food), Distribution Channel (Offline, Online), & Region for 2024-2031

Insect Protein Market Valuation – 2024-2031

The growing consumer awareness of environmentally friendly and sustainable protein options, and also the nutritional advantages of insects are driving the demand for the Insect Protein Market. According to the analyst from Verified Market Research, the Insect Protein Market is estimated to reach a valuation of USD 5255.08 Million by 2031 subjugating around USD 402.88 Million valued in 2023.

Furthermore, developments in regulatory frameworks and technological improvements are making it easier to incorporate insect proteins into a variety of industries, including animal feed, human nutrition, and pharmaceuticals, increasing its commercial appeal and application. It enables the market to grow at a CAGR of 41.76% from 2024 to 2031.

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Insect Protein Market: Definition/ Overview

Insect protein is defined as protein obtained from edible insects including crickets, mealworms, and grasshoppers, which are known for their excellent nutritional content and sustainability. This alternative protein source is increasingly being used in a variety of applications, including human food products such as protein bars, energy drinks, and baked goods, as well as animal feed for cattle and pets. Insect protein is valued not just for its high concentration of vital amino acids, vitamins, and minerals, but also for having a lesser environmental impact than traditional cattle farming, as it requires substantially less land, water, and feed to produce.

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What are the Key Factors Driving the Growth of the Insect Protein Market?

The growing worldwide population is boosting the demand for sustainable protein sources, such as insect protein. According to the United Nations, the global population is predicted to reach 9.7 billion by 2050. The Food and Agriculture Organization (FAO) predicts that food production will have to expand by 70% to meet rising demand. Insect protein provides a sustainable answer to this problem. According to the FAO, insects have a high food conversion efficiency; for example, crickets require just 2 kg of feed for every 1 kg of body weight gain, whereas cattle require 8 kg of feed for 1 kg of weight gain.

The growing awareness of the environmental consequences of traditional livestock farming is driving interest in insect protein. The FAO estimates that livestock accounts for around 14.5% of worldwide greenhouse gas emissions. In comparison, insect farming emits substantially less greenhouse gas and uses less land and water. A study published in the journal PLOS One discovered that mealworm production uses only 10% of the land utilized for beef production per unit of digestible protein. This environmental efficiency is fueling consumer interest and investment in insect protein production.

Furthermore, the use of insect protein in animal feed, notably in aquaculture and poultry production, is a key driver of market expansion. The EU Commission allowed the use of insect proteins in fish feed under Regulation 2017/893. Following this, the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA) predicted that the EU Insect Protein Market for aquafeed will reach 1.2 million tons by 2030. In a broader perspective, the International Platform of Insects for Food and Feed (IPIFF) predicts that European insect production will reach 3 million tons per year by 2030, with a sizable share earmarked for animal feed.

What are the Challenges Influencing the Growth of Insect Protein Market?

Many cultures have a strong aversion to eating insects, which severely limits the acceptance of insect protein as a viable food source. These cultural taboos stem from traditional dietary patterns and conceptions of insects as pests rather than nourishment. Overcoming this opposition necessitates considerable consumer education and marketing efforts to shift attitudes and boost acceptance, which is a protracted and difficult process.

Furthermore, consumers are concerned about the possibility of allergic reactions to insect protein, as some have pre-existing allergies to shellfish or other arthropods. To ensure consumer safety, thorough labeling, and risk-management techniques are required. Unresolved allergy concerns discourage customers from attempting insect-based products, restricting market expansion and adoption as a sustainable food alternative.

Category-Wise Acumens

How do the Nutritional Benefits of Cricket Drives the Insect Protein Market?

According to VMR analysis, the cricket segment is estimated to dominate the market during the forecast period. Crickets are known for their high protein content, which includes vital amino acids, vitamins, and minerals. This nutritional profile makes them an appealing choice for consumers looking for healthy, sustainable protein sources. Their adaptability enables them to be utilized in a variety of food products, ranging from protein bars to snacks, increasing their market appeal and demand.

Crickets are extremely efficient at turning feed into protein, requiring far less land, water, and feed than traditional livestock. This low ecological footprint is consistent with expanding consumer expectations for sustainable food sources, establishing crickets as a top choice in the insect protein industry. As environmental concerns grow, demand for cricket-based products is projected to climb.

Furthermore, the cricket segment benefits from growing public awareness and acceptance of edible insects as a protein source. Consumer perception has improved as a result of marketing activities that promote their health benefits and sustainability. As more people become acquainted with cricket protein through various cuisine inventions, its market share is expected to grow even more.

How does the Animal Nutrition Benefits Contribute to the Growing Demand in the Market?

The animal nutrition segment is estimated to dominate the Insect Protein Market during the forecast period. The growing need for sustainable and environmentally acceptable protein alternatives in animal nutrition is an important factor for this segment’s dominance. Insects take far fewer resources to produce than traditional livestock, making them a more environmentally responsible choice. This sustainability appeal coincides with a growing awareness among consumers and producers about the environmental impact of conventional animal farming, hence increasing the use of insect protein in animal feed.

Insect protein contains necessary amino acids, vitamins, and minerals, making it an ideal nutritional supplement for livestock and pets. This high nutritional value promotes animal growth and health, resulting in increased agricultural productivity. Farmers and pet food manufacturers are increasingly looking for high-quality ingredients to boost animal health and performance and the demand for insect protein in animal nutrition continues to rise.

Furthermore, the growing regulatory recognition of insect protein as a viable element in animal feed has greatly boosted the segment’s growth. Many regions have developed rules and regulations for the use of insect protein in animal diets, making it easier to include in current feeding methods. This regulatory support not only encourages farmers to use insect protein but also reassures consumers about its safety and efficacy as a feed component.

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Country/Region-wise Acumens

How Does the Increasing Consumer Awareness in North America Driving the Market?

According to VMR analyst, North America is estimated to dominate the Insect Protein Market during the forecast period. North America, especially the United States and Canada, has experienced an increase in insect protein start-ups and investments. According to AgFunder News, North American insect farming enterprises received more than USD 300 Million in venture capital funding between 2015 and 2020. For example, in 2020, the Canadian government invested USD 16.8 Million in Aspire Food Group to develop the world’s largest cricket protein manufacturing factory. This flood of finance and business activity is greatly boosting the region’s Insect Protein Market.

Furthermore, regulatory changes that encourage the use of insect protein in animal feed are driving market expansion. The Association of American Feed Control Officials (AAFCO) allowed the use of black soldier fly larvae in chicken feed in 2018. Following this, the United States Food and Drug Administration (FDA) stated in 2021 that it has completed its first regulatory review of an insect protein application for use in pet food. The Canadian Food Inspection Agency (CFIA) has approved the use of insect-based additives in poultry and aquaculture feed beginning in 2021. These regulatory approvals are creating major market prospects.

What are the Main Drivers of the Insect Protein Market in the Asia Pacific Region?

The Asia Pacific region is estimated to exhibit substantial growth within the Insect Protein Market during the forecast period. The Asia Pacific region’s population is rapidly growing, increasing the demand for sustainable protein sources. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the region’s population is expected to increase from 4.3 billion in 2020 to 4.7 billion in 2050. Population growth, combined with increased affluence, is driving an increase in protein demand. The Food and Agriculture Organization (FAO) predicts that meat consumption in the Asia-Pacific region will rise by 78% between 2017 and 2050. Insect protein provides a long-term option to fulfill rising demand, contributing to the region’s fast-growing market.

Furthermore, several Asian countries are actively encouraging the growth of insect farming as a sustainable protein source. For example, the Thai government has incorporated cricket farming into its national economic growth strategy. As of 2019, the National Bureau of Agricultural Commodity and Food Standards of Thailand reported that the country had over 20,000 registered cricket farms. The Chinese government has been promoting entomophagy (insect eating) as a solution to food security. According to the Chinese Academy of Agricultural Sciences, the country’s edible insect industry is developing at a 25% annual pace and reaching $2.3 billion by 2020. This government funding is considerably fueling the regional Insect Protein Market.

Competitive Landscape

The Insect Protein Market is moderately fragmented, with multiple firms competing for market share in a variety of applications such as animal feed, human nutrition, and pet food. This fragmentation is being driven by the growing demand for sustainable protein alternatives, driving businesses to develop and diversify their product offerings, such as insect protein powders and whole insects.

Some of the prominent players operating in the Insect Protein Market include InnovaFeed, EnviroFlight, Ynsect, Hexafly, Protix,Aspire Food Group, Chapul, Nutrition Technologies, Entomo Farms, Goterra.

Latest Developments

• In April 2022, Global Bugs formed a strategic agreement with Innovative Natural Solutions. Global Bugs Asia (GBA) and Innovative Natural Solutions (INS) aim to promote, manufacture, and distribute nutritious cuisine utilizing plant-based ingredients and crickets.
• In October 2021, Aspire Food Group expanded its automated production facility in London to manufacture 10,000 tons of crickets per year.
• In January 2020, Darling Ingredients purchased a 50% investment in a joint venture with EnviroFlight, a leading developer of unique technologies for scalable rearing of non-pathogenic Black Soldier Fly (BSF) larvae.

Report Scope

Insect Protein Market, By Category

Insect Type:

• Crickets
• Black Soldier Flies
• Mealworms
• Grasshoppers

Application:

• Food and Beverages
• Animal Nutrition
• Aquafeed
• Poultry Feed
• Pet Food

Distribution Channel:

• Offline
• Online

Geography:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Verified Market Research:

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