Insect Protein Market Potential Growth, Share, Demand and Analysis of Key Players – Forecasts to 2033

 

From 2023 to 2033, the insect protein market (Marché des protéines d’insectes) is projected to accelerate at a CAGR of 17.7% from its 2023 value of USD 602.3 million. By 2033, there is going to be USD 3.1 billion global market.

Over the projected period, the demand for insect protein is anticipated to increase due to rising consumer awareness of the consumption of nutrient-dense food products and rising customer preference for a healthy lifestyle.

Information Source: https://www.futuremarketinsights.com/reports/insect-protein-market

Thriving Applications and High Protein Content in Insects Insect Protein Need is Increasing

The demand for wholesome food products has grown as a result of rising health consciousness among customers throughout the world. As a result, manufacturers in a variety of industries now have the opportunity to sell such food items.

Consumers today place a premium on natural products and pay attention to the components in their food as well as how it is produced and where it comes from. Some of the main factors anticipated to boost insect protein market expansion throughout the projected period include rising expenditure on functional food products, an increase in the number of sports and gym enthusiasts, and consumers searching for healthy and sustainable food options.

High Costs Limit Market Expansion

Due to its functional, environmental, and nutritional advantages, insect protein is one of the distinctive and innovative animal feed proteins. High costs, regulations, and constrained production capacity continue to be the key barriers to progress of the insect protein market.

The equipment and processes needed to create insect-based proteins need to be optimised for large-scale manufacturing because they are currently expensive. Although many consumers are priced out of this market, few consumers are willing to pay higher rates for the health and environmental advantages of protein derived from insects.

Regional Outlook

Developing Product Demand for Human Consumption May Cause Europe to Exhibit a Strong Growth.

The lion’s share of the revenue came from the European continent. For uses in the food and beverage sector, animal nutrition, and personal care, insect protein is more widely accepted by consumers in the European insect protein market.

Demand is anticipated to increase in the European market as a result of the recent approval of insect protein for feed, especially that for pigs and poultry. The market is anticipated to grow significantly over the forecast period due to the high demand for insect protein from industrialised nations like France, Germany, and the United Kingdom.

The revenue was largely from North America. The market is projected to be a significant market because consumers are becoming more conscious of the use of insect-based products and have a greater need for food products that are nutrient-dense.

Due to Mexico and Canada’s substantial growth potential for new companies and product launches, the insect protein market is likely to grow throughout the projected period.

Key Takeaways

  • With a CAGR of 20.6% and an expected market size of US$ 1.1 billion in 2033, the insect protein market in the United States is expected to grow rapidly over the projected period.
  • With a strong CAGR of 11.9% and an expected market size of US$ 129 million in 2033, the Chinese market is expected to grow throughout the course of the estimated period.
  • In 2033, it is expected that the Japan market would generate US$ 61.7 million and grow at a 9.5% CAGR.
  • With a CAGR of 23.6% throughout the projection period, it is anticipated that the United Kingdom market would grow quickly, reaching US$ 300.8 million in 2033.
  • The insect protein market in South Korea is predicted to expand at a CAGR of 9.8% over the predicted time period and could reach US$ 35.5 million in 2033.
  • Powder is anticipated to expand at a CAGR of 15.4% over the anticipated time frame in the form category.
  • The insect type category’s Caterpillars sector could have a CAGR of 21.8% from 2023 to 2033.

Competitive Landscape

With numerous large- and small-scale manufacturers present, the market is competitive and concentrated. The leading market participants include Aspire Food Group Protifarm, EntomoFarms, Chapul Cricket Protein, Jimini’s, Swarm Nutrition GmbH, EnviroFlight LLC, AgriProtein Holdings Ltd. nsect, Hexafly, Innovafeed, and Protix. To meet the demand on a global scale, these major firms are concentrating on increasing their manufacturing capacity.

Recent Development

·         Partnership – To Expand Its Insect Protein Industry

Archer Daniels Midland Company and Innova Feed announced a partnership in November 2020. The partnership was formed in order to grow its insect protein business by developing a new facility in Illinois, the U.S., with a target capacity of 60,000 tonnes of insect protein annually.

Key Segments  

Insect Type:

  • Beetles
  • Caterpillars
  • Bees, Wasps, and Ants
  • Grasshoppers, Locusts, and Crickets
  • Others

Form:

  • Whole Insect
  • Powder

Application:

  • Food & Beverages
    • Animal Nutrition
    • Aquafeed
    • Pet Food
    • Poultry Feed
  • Pharmaceuticals & Cosmetics

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

Comments

Post a Comment

Popular posts from this blog

Chewable Energy Tablet Market Potential Growth, Share, Demand and Analysis of Key Players — Forecasts to 2034

 The global  chewable energy tablet market  value is estimated to total  US$ 478.9 million  in 2024. It will likely exhibit a CAGR of  8.9%  throughout the forecast period, totaling a valuation of  US$ 1,120.6 million  by 2034. Consumers mostly prefer orange-flavored chewable energy tablets owing to their perceived health benefits and other advantages. As per the latest analysis, the orange flavor segment will likely progress at a CAGR of  5.6%  through 2034. Request a Sample of this Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-19020 Several factors are predicted to fuel the growth of the chewable energy tablet industry during the assessment period. These include: Increasing demand for convenient and portable energy sources Growing health consciousness Rising preference of fitness enthusiasts towards chewable energy products Escalating  demand for functional foods Availability of chewable energy tablets in a wide range o
Read more

Canned Soup Market Growth Opportunities, Industry Analysis, Size, Share, Geographic Segmentation & Competitive Landscape Report To 2032

 The  canned soup market  is witnessing significant growth in recent years due to the convenience it offers to consumers. Canned soups are a quick and easy meal option, saving time and effort in the kitchen. With an increasing number of working individuals and busy lifestyles, the demand for ready-to-eat meals is soaring. Additionally, the pandemic has further driven the market, as people seek shelf-stable, long-lasting food options during lockdowns. The global canned soup market is anticipated to rise at a CAGR of 6.6% over the projected period, reaching a market value of US$ 2.8 Bn by 2022. Furthermore, consumers prefer canned soup products to alternative protein sources because of benefits such as balanced macro and micronutrients, as well as high protein content. As the consumption of processed foods is increasing across the globe, the demand in the market is expected to surge. Dive into the dynamic world of the Canned Soup Market with our exclusive Sample report. Get ready t
Read more

Moringa Tea Market Size 2024 Global Industry Share, Top Players, Opportunities And Forecast To 2034

 The global  moringa tea market  size to record a valuation of US$ 8,001.40 million in 2024. Looking ahead to 2034, the current forecast projects a CAGR of 10.40% throughout. Current projections of the moringa tea industry imply a valuation of US$ 21,456.10 million by 2034. Impelling Causes Bolstering Moringa Tea Demand Owing to its health benefits, moringa tea is a proliferating trend among other tea beverages on the market, such as the well-known matcha tea. The market niche of moringa tea is evolving due to its appeal to tea lovers and health-conscious consumers. Moringa tea stands out from other tea products due to its high nutritious content and lack of caffeine. Among the products made from moringa are oil, tea, seeds, and other health-related items. The global moringa tea market is augmenting due to the ease with which raw materials can be obtained and the extensive network of exporters of moringa tea. Request a Sample Report!  https://www.futuremarketinsights.com/report
Read more