Insect Protein Market Size & Growth Analysis to 2030

The global insect protein market size is expected to register a significant CAGR of 25% during the forecast period 2021 to 2027 and estimated at around USD 270 million in 2020. The growing consumer shift towards insect protein around the world is a primary factor to drive the market growth. The increasing public and private support for new protein sources in emerging economies are further expected to provide new opportunities for the market.

Market Drivers:

Growing demand for sustainable protein sources: The increasing global population, coupled with the environmental impact of traditional livestock farming, has led to a growing demand for sustainable protein sources. Insects are highly efficient in converting feed into protein and require significantly fewer resources compared to conventional livestock, making them an attractive and sustainable alternative.

Nutritional value and health benefits: Insects are rich in proteins, healthy fats, vitamins, minerals, and other essential nutrients. They offer a high-quality protein source with a favorable amino acid profile. Additionally, some insect species contain beneficial compounds such as omega-3 fatty acids and antioxidants, which contribute to their perceived health benefits.

Shift in dietary preferences and cultural acceptance: There has been a shift in dietary preferences, with an increasing number of individuals adopting alternative protein sources and exploring new food options. Cultural acceptance of insects as food varies across regions, but attitudes are gradually changing as people become more aware of the nutritional value and sustainability of insect protein.

Rising interest in alternative protein industries: The growth of the insect protein market is also driven by the broader interest in alternative protein industries, including plant-based proteins and cultured meat. Insect protein offers a unique and complementary protein source that can be used in combination with other alternative protein options, contributing to a diversified and sustainable protein supply.

Innovation in product development: Companies in the insect protein market are actively engaged in product development and innovation to create appealing and convenient insect-based food products. This includes developing insect-based protein powders, snacks, and protein bars, and incorporating insect protein into existing food products. Product innovation plays a crucial role in expanding consumer acceptance and market penetration.

Regulatory support and favorable policies: Governments and regulatory bodies in some regions are recognizing the potential of insect protein as a sustainable food source and are implementing supportive regulations and policies. These initiatives include streamlining the approval process, providing research grants, and promoting insect farming and consumption, which drive the growth of the insect protein market.

Sustainable feed production: Insects can be reared on organic waste streams, such as agricultural by-products and food waste, reducing the environmental burden associated with feed production. This aspect aligns with the circular economy and sustainability goals, further driving the demand for insect protein.

Increased investment and market players: The insect protein market has attracted significant investment from venture capitalists and food industry players. This investment supports research and development, scaling up insect farming operations, and expanding distribution networks. The presence of established companies and startups in the market increases market visibility and consumer accessibility to insect-based products.

Market Outlook:

Market Insights:

The global insect protein market is bifurcated into product, application, and geography. On the basis of product, the market is further segmented into coleoptera, lepidoptera, hymenoptera, and others. The coleoptera segment is accounted to hold the largest market share around forty percent of the market in 2020. The traditional consumption of edible beetles in various countries is a major factor to drive the segment growth. In China, the Holotrichia parallela Motschulsky known as an edible insect spice is widely used due to its rich nutritional value.

By application, the market is classified into food & beverages, animal nutrition, personal care & cosmetics, and others. The food and beverage segment is accounted to hold a significant market share in 2020. The rising demand for protein alternatives and increasing adoption of insect-based protein are some major factors to drive the segment growth. On the other hand, the growing demand for insect-based ingredients is anticipated to drive the animal nutrition segment over the forecast period.

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The insect protein comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2020 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The insect protein market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product:

• Coleoptera
• Lepidoptera
• Hymenoptera
• Orthoptera
• Hemiptera
• Diptera
• Others

By Application:

• Food & Beverages
• Animal Nutrition
• Personal Care & Cosmetics
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, Europe dominated the global insect protein market in 2020 and is expected to grow at the same trend over the forecast period. The increasing consumption of insect ingredients in food applications among youngsters and older is a major factor that has contributed to the market growth in the region. Furthermore, the growing demand for insect-based protein in emerging economies is expected to drive market growth in Europe. The increasing consumer shift toward insect ingredient food due to its rich nutritional value and increasing research and development in food application has contributed to the market growth in North America.

Market Competition Assessment:

Some of the major players operating in the global insect protein market are Aspire Food Group Protifarm, EntomoFarms, Protifarm, Chapul Cricket Protein, and Imago Insect Products GmbH. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Aspire Food Group Protifarm
• EntomoFarms
• Protifarm
• Chapul Cricket Protein
• Imago Insect Products GmbH
• EnviroFlight LLC
• AgriProtein Holdings Ltd.
• Ynsect
• Hexafly
• Innovafeed

Key Questions Answered by Insect Protein Market Report:

• Global insect protein market forecasts from 2021-2027
• Regional insect protein market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Insect protein submarket forecasts from 2021-2027 covering the market by product, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the insect protein market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level insect protein markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the insect protein market