Insect Protein Market
Insect Protein Market Size, Share & Trends Analysis Report by Type (Crickets, Mealworms, Grasshoppers, Ants, Bees, Termites, Black Soldier Fly, and Others), and by Application ( Food & Beverages, Animal Nutrition, Pharmaceuticals & Nutraceuticals, and Personal Care & Cosmetics) Forecast Period (2024-2031)
Insect protein market is anticipated to grow at a CAGR of 27.7% during the forecast period (2024-2031). The global insect protein market is experiencing growth owing to various factors such as sustainability concerns, and the high nutritional value of insect-based products. Insect farming is a viable and sustainable alternative to traditional livestock farming. Furthermore, advancements in farming techniques, processing technologies, and product development have contributed to the efficiency and cost-effectiveness of insect protein production. Additionally, consumer acceptance, education, and regulatory support have driven the use of insect protein in animal feed. Increased investment in production and research initiatives further contribute to the expansion of the market.
Market Dynamics
Increasing Awareness of Insect Protein
Insect protein has been gaining prominence in the market as consumers have become more aware of various protein sources and their benefits on health. Insect protein intake among consumers is increasing, with more attention being paid to the specific demand for protein for various health benefits. Hence, key players are meeting the increasing need for sustainable animal and plant nutrition by providing innovative insect protein and oil solutions with minimal ecological footprint. For instance, in February 2024, Innovafeed introduced the Hilucia brand, a new insect-protein line featuring high-quality ingredients for animal and plant nutrition with minimal environmental impact. It introduces Hilucia Protein for Monogastrics and Hilucia Oil for Aqua, two innovative insect protein and oil solutions, utilizing Hermetia illucens larvae for efficient nutrient production.
Restraint: High Cost of Insect Protein
The average cost of insect protein ranges from $4,250-$6,066 per metric ton, which is significantly higher than fishmeal and soy protein. Therefore, the high cost of insect protein is a major restraint to the global market growth.
Market Segmentation
- Based on type, the market is segmented into crickets, mealworms, grasshoppers, ants, bees, termites, black soldier flies, and others ( plant hoppers, and scale insects).
- Based on application, the market is segmented into food & beverages, animal nutrition, pharmaceuticals & nutraceuticals, and personal care & cosmetics.
Animal Nutrition Holds Major Share Based on Application
Ongoing research that promotes the adoption of insect protein in animal nutrition to improve the nutrition status of animals is a key contributor to the high share of this market segment. Insect protein is primarily consumed as a feed additive for poultry, aquaculture, and other animals. High digestibility band amino acid and protein content ranging from 40.0% to 70.0% are gaining traction from animal feed manufacturers.
Regional Outlook
The insect protein market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Insect Protein Market Growth by Region 2024-2031
Europe Holds Major Market Share
Government initiatives and approvals for various insect proteins for food, beverages, animal feed, and other applications have made significant contributions to the high regional market share. The European Commission authorized the 4th insect, Alphitobius diaperionus, the lesser mealworm in the market, as food in the year 2023. The regional demand for animal feed is increased by pig farming, while insect protein emerges as a wholesome and sustainable substitute for conventional soy products and fish meal. According to the Agriculture and Horticulture Development Board (AHDB), in January 2022, the pig farming sector experienced a 4.0% increase in results, resulting in the execution of 11.1 million clean pigs. In December 2021, 952,000 pigs were slaughtered; however, owing to longer farm holding periods, the average carcass weight was greater at 90.9 kg.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the insect protein market include Darling Ingredients Inc., GoDaddy, LLC, Innovafeed, Protix B.V., and Ynsect (SAS) among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in October 2023, Tyson Foods partnered with insect protein startup Protix to build a plant in the US for insect protein items, aiming to increase the presence of insect ingredients in pet food, aquaculture, and livestock production.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global insect protein market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Darling Ingredients Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. GoDaddy, LLC.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Innovafeed
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Insect Protein Market by Type
4.1.1. Crickets
4.1.2. Mealworms
4.1.3. Grasshoppers
4.1.4. Ants
4.1.5. Bees
4.1.6. Termites
4.1.7. Black Soldier Fly
4.1.8. Others ( Plant Hoppers, and Scale Insects)
4.2. Global Insect Protein Market by Application
4.2.1. Food & Beverages
4.2.2. Animal Nutrition
4.2.3. Pharmaceuticals & Nutraceuticals
4.2.4. Personal Care & Cosmetics
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Agriprotein GmbH
6.2. Agronutris
6.3. All Things Bugs, LLC
6.4. Aspire Food Group
6.5. Chapul Cricket Protein
6.6. Entobel
6.7. Entomo Farms
6.8. Flylab
6.9. Global Bugs Asia
6.10. Grubbly Farms
6.11. LIVIN farms AgriFood GmbH
6.12. Nutrition Technologies
6.13. Protenga
6.14. Protix B.V.
6.15. Symton Black Soldier Fly
6.16. Tinyfarm
6.17. Ynsect (SAS)
1. Global Insect Protein Market Research And Analysis By Type, 2023-2031 ($ Million)
2. Global Crickets Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
3. Global Mealworms Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
4. Global Grasshoppers Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
5. Global Ants Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
6. Global Bees Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
7. Global Termites Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
8. Global Black Soldier Fly Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
9. Global Other Type Insect Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
10. Global Insect Protein Market Research And Analysis By Application, 2023-2031 ($ Million)
11. Global Insect Protein For Food & Beverages Market Research And Analysis By Region, 2023-2031 ($ Million)
12. Global Insect Protein For Animal Nutrition Market Research And Analysis By Region, 2023-2031 ($ Million)
13. Global Insect Protein For Pharmaceuticals & Nutraceuticals Market Research And Analysis By Region, 2023-2031 ($ Million)
14. Global Insect Protein For Personal Care & Cosmetics Market Research And Analysis By Region, 2023-2031 ($ Million)
15. Global Insect Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
16. North American Insect Protein Market Research And Analysis By Country, 2023-2031 ($ Million)
17. North American Insect Protein Market Research And Analysis By Type, 2023-2031 ($ Million)
18. North American Insect Protein Market Research And Analysis By Application, 2023-2031 ($ Million)
19. European Insect Protein Market Research And Analysis By Country, 2023-2031 ($ Million)
20. European Insect Protein Market Research And Analysis By Type, 2023-2031 ($ Million)
21. European Insect Protein Market Research And Analysis By Application, 2023-2031 ($ Million)
22. Asia-Pacific Insect Protein Market Research And Analysis By Country, 2023-2031 ($ Million)
23. Asia-Pacific Insect Protein Market Research And Analysis By Type, 2023-2031 ($ Million)
24. Asia-Pacific Insect Protein Market Research And Analysis By Application, 2023-2031 ($ Million)
25. Rest Of The World Insect Protein Market Research And Analysis By Region, 2023-2031 ($ Million)
26. Rest Of The World Insect Protein Market Research And Analysis By Type, 2023-2031 ($ Million)
27. Rest Of The World Insect Protein Market Research And Analysis By Application, 2023-2031 ($ Million)
1. Global Insect Protein Market Share By Type, 2023 Vs 2031 (%)
2. Global Crickets Protein Market Share By Region, 2023 Vs 2031 (%)
3. Global Mealworms Protein Market Share By Region, 2023 Vs 2031 (%)
4. Global Grasshoppers Protein Market Share By Region, 2023 Vs 2031 (%)
5. Global Ants Protein Market Share By Region, 2023 Vs 2031 (%)
6. Global Bees Protein Market Share By Region, 2023 Vs 2031 (%)
7. Global Termites Protein Market Share By Region, 2023 Vs 2031 (%)
8. Global Black Soldier Fly Protein Market Share By Region, 2023 Vs 2031 (%)
9. Global Other Type Insect Protein Market Share By Region, 2023 Vs 2031 (%)
10. Global Insect Protein Market Share By Application, 2023 Vs 2031 (%)
11. Global Insect Protein For Food & Beverages Market Share By Region, 2023 Vs 2031 (%)
12. Global Insect Protein For Animal Nutrition Market Share By Region, 2023 Vs 2031 (%)
13. Global Insect Protein For Pharmaceuticals & Nutraceuticals Market Share By Region, 2023 Vs 2031 (%)
14. Global Insect Protein For Personal Care & Cosmetics Market Share By Region, 2023 Vs 2031 (%)
15. Global Insect Protein Market Share By Region, 2023 Vs 2031 (%)
16. US Insect Protein Market Size, 2023-2031 ($ Million)
17. Canada Insect Protein Market Size, 2023-2031 ($ Million)
18. UK Insect Protein Market Size, 2023-2031 ($ Million)
19. France Insect Protein Market Size, 2023-2031 ($ Million)
20. Germany Insect Protein Market Size, 2023-2031 ($ Million)
21. Italy Insect Protein Market Size, 2023-2031 ($ Million)
22. Spain Insect Protein Market Size, 2023-2031 ($ Million)
23. Rest Of Europe Insect Protein Market Size, 2023-2031 ($ Million)
24. India Insect Protein Market Size, 2023-2031 ($ Million)
25. China Insect Protein Market Size, 2023-2031 ($ Million)
26. Japan Insect Protein Market Size, 2023-2031 ($ Million)
27. South Korea Insect Protein Market Size, 2023-2031 ($ Million)
28. Rest Of Asia-Pacific Insect Protein Market Size, 2023-2031 ($ Million)
29. Latin America Insect Protein Market Size, 2023-2031 ($ Million)
30. Middle East And Africa Insect Protein Market Size, 2023-2031 ($ Million)
