Insect Protein Market To Witness Unprecedented Growth In Coming Years | Key Players Are Aspire Food Group Protifarm, Entomofarms, Chapul Cricket Protein, Jimini’s, Swarm Nutrition Gmbh

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Insect Protein Market To Witness Unprecedented Growth In Coming Years | Key Players Are Aspire Food Group Protifarm, Entomofarms, Chapul Cricket Protein, Jimini’s, Swarm Nutrition Gmbh

Insect Protein Market To Witness Unprecedented Growth In Coming Years | Key Players Are Aspire Food Group Protifarm, Entomofarms, Chapul Cricket Protein, Jimini’s, Swarm Nutrition Gmbh

“Grand View Research, Inc. – Market Research And Consulting.”
According to a report published by Grand View Research, the growth of the global insect protein market can be attributed to the shifting consumer preference towards insect protein instead of dairy protein owing to the rising concerns regarding sustainability and increased private and public support for the new protein sources. However, the COVID-19 posed numerous challenges to the market such as discontinuation in production, distribution, transportation, and other supply chain activities.

The global insect protein market size is expected to reach USD 1.01 billion by 2025, exhibiting a revenue-based CAGR of 25.1% over the forecast period. Insect protein is obtained either directly from the insect or indirectly by manufactured materials. Insects such as crickets, mealworms, black soldier flies, grasshoppers, and ants have a high protein content and can be easily raised in areas with minimal resources. These insects have long been a staple of traditional cuisine in more than 110 countries, with the largest concentration in Southeast Asia.

According to the Food and Agriculture Organization (FAO), at least two billion people worldwide intake insect protein in different forms. This change in consumer preference for alternative protein sources, coupled with the growing trend of consuming insect-based food, and the ease of availability of edible insects are some of the main factors driving the market’s growth. These insects’ low environmental stress and nutritional benefits are expected to drive the demand for insect protein even higher. Flexitarians consume less meat and are generally more mindful of food quality and sourcing, as are those who purchase organic goods or follow a paleo diet. This shift in food preference is expected to open up new opportunities for the insect protein industry over the forecast period. 

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Insect Protein Market Report Highlights

 On the basis of application, the food and beverage segment is one of the leading application segment owing to the increasing need for protein alternatives along with the growing consumer demand.

Moreover, the rising demand for insect-based ingredients in the animal nutrition segment is anticipated to create growth avenues for the market over the forecast period.

From the product standpoint, the Coleoptera product segment dominated the market. It refers to the insect order consisting of beetles and weevils.

In March 2020, Protix BV, an insect farmer that breeds Black Soldier Fly larvae and extracts them into ingredients such as proteins and lipids, announced a fund raised from Rabo Corporate as a shareholder to expand the capacity of its insect production facility in the Netherlands.

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Insect Protein Market Segmentation

Grand View Research has segmented the global insect protein market on the basis of product, application, and region:

Insect Protein Product Outlook (Volume, Tons; Revenue, USD Thousand, 2014 – 2025)

     Coleoptera
     Lepidoptera
     Hymenoptera
     Orthoptera
     Hemiptera
     Diptera
     Others

Insect Protein Application Outlook (Volume, Tons; Revenue, USD Thousand, 2014 – 2025)

     Food & Beverages
     Animal Nutrition
     Personal Care & Cosmetics
     Others

Insect Protein Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2014 – 2025)

     North America
        • The U.S.
        • Canada
        • Mexico
     Europe
        • Germany
        • The U.K.
        • France
     Asia Pacific
        • China
        • India
        • Japan
     Central and South America
        • Brazil
    • MEA
        • UAE

List of Key Players of Insect Protein Market

     Agriprotein Holdings Ltd.
     Enviroflight LLC
     Innovafeed
     Ÿnsect
     Hexafly
     Protix
     Jimini’s
     Aspire Food Group
     Chapul Cricket Protein
     Imago Insect Products GmbH

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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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