Global Insect Protein Market Size study & Forecast, by Insect Type (Crickets, Black Soldier Flies, Mealworms, Grasshoppers, Ants, Other Insects), by Application (Food & Beverages, Animal Nutrition, Pharmaceuticals & Cosmetics), by Distribution Channel (Of

Global Insect Protein Market Size study & Forecast, by Insect Type (Crickets, Black Soldier Flies, Mealworms, Grasshoppers, Ants, Other Insects), by Application (Food & Beverages, Animal Nutrition, Pharmaceuticals & Cosmetics), by Distribution Channel (Offline, Online) and Regional Analysis, 2022-2029

Global Insect Protein Market is valued at approximately USD 0.50 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 34.0% over the forecast period 2022-2029. Insect protein has a significant potential to help solve world hunger given the increased demand for food commodities that comes along with a growing global population. Insect protein has several applications, including the production of food and drink, cosmetics, and personal care products. Due to growing worries about the global food issue, insects are also being researched as a potential source of human food and animal feed in western countries.. The Insect Protein market is expanding because of factors such as increasing investments in R&D and start-ups, increasing demand for alternate protien. However, unacceptance of Insect-based Proteins by consumers may halt market growth.

Various market players in insect protein market are taking strategic moves to expand their company share. New product releases, alliances, and acquisitions are a few of the crucial tactics used by market actors. For example, in March 2022, Global Bugs and Smart Vet Group formed a collaboration to concentrate on developing and manufacturing pet food and supplemental items for animals that contain whole roasted crickets and cricket powder. In conjunction with Pure Simple True LLC, , an insect protein company introduced Bernie's, an ultra-premium and luxury brand for dog food, to the US market in November 202. Furthermore, collaborations of Insect Protein-based Product Manufacturers with Retailers and opportunities for Food Equipment Manufacturers in Insect Rearing are creating new opportunities for the market. However, the high cost of Insect Protein stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Insect Protein Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Among these regions, Europe holds the highest share owing to factors such as high penetration of consumer acceptance for the consumption and use of insect protein such as in food and beverage industry, animal nutrition, and personal care industry is creating a lucrative demand in the region.

Major market players included in this report are:
InnovaFeed
EnviroFlight
Ynsect
Hexafly
Protix
Aspire Food Group
Chapul
Nutrition Technologies
Entomo Farms
Goerr.

Recent Developments in the Market:

In February 2022, Strategic relationship established between Global Bugs and Innovative Natural Solutions. Using a combination of plant-based ingredients and crickets, Global Bugs Asia (GBA) and Innovative Natural Solutions (INS) want to jointly promote, support, manufacture, and sell nutrient-rich food products.

In Aug 2020, in order to facilitate the scaled rearing of non-pathogenic Black Soldier Fly (BSF) larvae, Darling Ingredients acquired a 50% investment in a joint venture with EnviroFlight, one of the top producers of proprietary technology.

Global Insect Protein Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage
Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered
Insect Type, Application, Distribution Channel, Region
Regional Scope
North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope
Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Insect Type offerings of key players.

The detailed segments and sub-segment of the market are explained below.
By Insect Type:
Crickets
Black Soldier Flies
Mealworms
Grasshoppers
Ants
Other Insects

By Application:
Food & Beverages
Animal Nutrition
Pharmaceuticals & Cosmetics

By Distribution Channel:
Offline
Online
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australi.
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

InnovaFeed
EnviroFlight
Ynsect
Hexafly
Protix
Aspire Food Group
Chapul
Nutrition Technologies
Entomo Farms
Goerra

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