Unleashing the Potential of Insect Protein: A Market Soaring to Reach $3.3 Billion by 2027 with a CAGR of 33.4%. The global market is a rapidly growing industry, as insects are being increasingly recognized as a sustainable and nutritious source of protein. Insects are high in protein, fat, and minerals, and have a small ecological footprint compared to traditional livestock. They can be farmed using minimal resources and are efficient at converting feed into protein. Additionally, they emit fewer greenhouse gases and produce less pollution than traditional livestock.
The insect protein market is expected to grow in the coming years, driven by increasing demand for sustainable and alternative protein sources, as well as growing awareness of the environmental benefits of insect farming. However, the market is still in its early stages and faces some challenges, such as lack of regulation and consumer acceptance.
The key features of the insect protein market:
Nutritional value: Insects are high in protein, fat, and minerals, and are a rich source of essential amino acids, vitamins and minerals.
Sustainability: Insects are considered a sustainable source of protein because they can be farmed using minimal resources, such as land and water, and have a small ecological footprint compared to traditional livestock.
Versatility: Insects can be used in a variety of food products such as protein bars, protein powders, and snacks.
Potential challenges: The market is still in its early stages and faces some challenges, such as lack of regulation and consumer acceptance.
Growing demand: The market for insect protein is expected to grow in the coming years, driven by increasing demand for sustainable and alternative protein sources, as well as growing awareness of the environmental benefits of insect farming.
North America dominated the insect protein market and is projected to grow with a CAGR of 33.45% during the forecast period (2022 – 2027)
North America is anticipated to hold the largest market share in the insect protein market in 2022, followed by Europe, Asia Pacific, and RoW. The presence of key insect protein manufacturing companies in developed regions such as North America and Europe contributes to these regions’ high market share. Many start-ups have been established in the region that provide both edible insects and insect protein-based products for food and feed applications. Enterra Feed Corporation (Canada), Entomo Farms (Canada), EnviroFlight LLC (US), and Aspire Food Group (US) are some of the leading companies providing insect protein-based products. The market for insect protein-based food products is projected to record the fastest growth during the forecast period due to the increasing awareness among people.
Key Market Players
The key players in insect protein market include EnviroFlight (US), InnovaFeed (France), HEXAFLY (Ireland), Protix (Netherlands), Global Bugs (Thailand), Entomo Farms (Canada), and Ynsect (France) among others.
