The report "Insect Protein Market by Insect Type (Crickets, Black Soldier Flies, Mealworms, Ants, and Grasshoppers), Application (Food & Beverages, Animal Nutrition (Aquafeed, Pet Food, and Poultry Feed), Pharmaceuticals & Cosmetics), Region – Global Forecast to 2025". The insect protein market is projected to reach USD 1,336 million by 2025, from USD 144 million in 2019, at a CAGR of 45.0% during the forecast period. Over the recent few years, the demand for alternative protein especially insect protein has gained a substantial growth as it helps to reduce significant amount of greenhouse gas (GHG) as compared to conventional animal protein sources such as pork, beef, and chicken. In addition to this, insect protein has been observed to reduce diet-related concerns among consumers. These consumer trends are anticipated to boost the sales of insect protein over the forecast period.
Browse 86 market data Tables and 35 Figures spread through 153 Pages and in-depth TOC on "Insect Protein Market by Insect Type (Crickets, Black Soldier Flies, Mealworms, Ants, and Grasshoppers), Application (Food & Beverages, Animal Nutrition (Aquafeed, Pet Food, and Poultry Feed), Pharmaceuticals & Cosmetics), Region – Global Forecast to 2025"
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With the excellent availability and acceptability of crickets, wide range of products including powder and protein bar is popular among the consumers. Dried cricket powder contains 69% of protein, compared to sirloin beef (29%), dried beef (43%), and chicken (31%). It also contains nine essential amino acids, along with zinc, B12, iron, potassium, magnesium, sodium, and calcium. Cricket flour also act as an alternative for milk, as it contains a high amount of calcium. On the contrary, cricket production is estimated to produce around 80 times less methane than cattle, thus proving to be more environmentally friendly. Due to these factors, crickets are widely accepted by consumers globally.
Due to the rising necessity of protein alternatives among food & beverage manufacturers to fulfill the increasing demand of consumers, the adoption of insect protein has been growing in the food & beverage segment. High global population growth is witnessed, as the UN estimates that the global population will reach 9 billion by 2050. Moreover, the consumption of animal products such as meat, egg, and milk continue to rise, which puts a lot of pressure on environment sustainability. Nutritional values are considered of high importance when consumed, which is a key factor that provides leverage to food manufacturers.
Approval of insect protein for animal nutrition by FDA has increased the adoption of these products in the US market, with more number of companies venturing in this space. Also, key players such as Cargill (US) and PepsiCo (US) have been entering the market through organic strategies for their feed and food offerings. Furthermore, various private investors, including respected entrepreneurs and companies such as Arielle Zuckerberg (US), John Chambers (US), Buhler Group (Switzerland), Wilbur-Ellis (US), and Mark Cuban (US) have invested in edible insect and insect protein companies for R&D and expansion in the field.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Protix (Netherlands), AgriProtein Holdings Ltd. (South Africa), Entomo Farms (Canada), źnsect (France), EnviroFlight, LLC (US), and Innovafeed (France). On the other hand, the key players in the insect protein for the food market include Aspire Food Group (US), Protifarm (Netherlands), Jimini’s (France), Chapul Cricket Protein (US), Grubs Up (Australia), and Swarm Nutrition GmbH (Germany).
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