Insect Protein - Market Insights, Competitive Landscape, and Market Forecast - 2030

Insect Protein - Market Insights, Competitive Landscape, and Market Forecast - 2030

Insect Proteins market by Insect (Crickets, Mealworms, Grasshoppers, and Others), Application (Food [Protein Flour, Protein Bars, and snacks], Beverages, and Cosmetics), and Geography (North America, Europe, Asia-pacific, and Rest of the World) is expected to grow at a steady CAGR forecast till 2030 owing to the growing demand for alternative and sustainable sources of protein, inclination towards nutritive food products, rising awareness of health and nutrition trends among others globally

The insect proteins market is estimated to grow at a CAGR of 3.98% during the forecast period from 2024 to 2030. The insect protein market is slated to witness positive growth due to the increasing demand for alternative and sustainable sources of protein, reflecting a shift towards mitigating environmental impacts associated with traditional protein production. In addition, there is a notable inclination towards nutritive food products driven by heightened awareness of health and nutrition trends, positively contributing to the overall health outcomes such as for muscle growth, weight management, and overall well-being. This dual focus on sustainability and nutrition is propelling the adoption of insect proteins which is expected to drive the growth of the insect protein market during the forecast period from 2024 to 2030.

Insect Proteins Market Dynamics:

One of the main drivers of the insect protein market is the escalating demand for alternative and sustainable protein sources owing to the growing concerns over the environmental impacts of conventional livestock farming. Insect farming offers a more sustainable solution as insects require fewer resources, emit lower levels of greenhouse gases, and can be reared on organic waste materials, thereby reducing environmental strain. Therefore the market for insect protein is expected to witness an increase in revenue share and market growth.

Along with this, there is a notable shift towards foods that offer substantial nutritional benefits. Nutritive food products are characterized by their high content of essential nutrients such as vitamins, minerals, protein, and fibers, which are critical for maintaining optimal health and supporting bodily functions. In response to these trends, food manufacturers and retailers are expanding their offerings for nutritive food products, including fortified foods, superfoods, insect-based proteins, and ingredients with proven health benefits. This diversification caters to a diverse range of dietary preferences and health goals, such as for heart health, digestive wellness, weight management, and muscle recovery purposes.

Moreover, partnerships among companies allows for the development of novel food formulations that cater to health-conscious consumers seeking alternative protein sources. Such collaborations in manufacturing and distribution enhances market reach, enabling both companies to meet the growing demand for diverse and eco-friendly protein options. For instance, in April 2022, Global Bugs established a strategic alliance with Innovative Natural Solutions to collaboratively promote, support, manufacture, and distribute nutritious food products that combine plant-based components with cricket-based proteins.

Hence, the interplay of all the factors mentioned above are expected to drive the market for insect proteins during the given forecast period 2024 to 2030.

However, allergy concerns associated with insect proteins, and the increasing popularity of plant-based and vegan diets among the population are some factors that will limit their end-user base, therefore limiting the growth of the insect proteins market during the forecast period.

Insect Proteins Market Segment Analysis:

Insect Proteins market by Insect (Crickets, Mealworms, Grasshoppers, and Others), Application (Food [Protein Flour, Protein Bars, and snacks], Beverages, and Cosmetics), and Geography (North America, Europe, Asia-pacific, and Rest of the World)

In the insect segment of the insect protein market, the cricket category was estimated to amass a significant revenue share in 2023. This can be ascribed to the easy farming of crickets, requiring minimal resources while producing a high yield of protein.

Crickets are highly versatile and can be processed into various forms such as powders, bars, and snacks, making them ideal for diverse food applications. For instance, Chapul produces cricket protein powders rich in complete amino acids, vitamins, and minerals essential for muscle repair and overall health. These powders are beneficial in smoothies and baking recipes, offering a sustainable protein source with low environmental impact. Also, Chapul's cricket protein bars provide a convenient and nutritious snack option, delivering essential nutrients that support energy levels and satiety.

Similarly, Entomo Farms emphasizes the nutritional benefits of their whole roasted crickets and cricket snacks. These products are naturally rich in protein, containing all essential amino acids necessary for tissue repair and immune function. They also provide essential vitamins such as B12, which is crucial for energy metabolism and neurological health. Crickets from Entomo Farms are sustainable, requiring significantly less water and land compared to traditional livestock, making them environmentally friendly choice for conscientious consumers seeking nutritious and eco-conscious food options.

Crickets have a mild taste that is more palatable to consumers, facilitating their acceptance. The growing consumer awareness of sustainability and nutrition further boosts the demand for cricket-based products, contributing to their anticipated revenue growth. Product launches in this category are also expected to increase the market share of insect protein. For instance, in September 2023, Entomo Farms launched Cricket-based pasta made with organic cricket flour. It combined traditional pasta with the nutritional benefits of cricket protein, appealing to health-conscious consumers.

Therefore, the various advantages and applications associated with insect protein in the crickets category is expected to drive the overall growth of the insect protein market during the forecast period.

Europe Is Expected To Grow At The Fastest Cagr In The Overall Global Insect Proteins Market:

Among all the regions, Europe is expected to grow at the fastest CAGR in the global insect protein market in 2023, out of all regions. Europe's rapid growth in the insect protein market is driven by regulatory advancements, notably the European Food Safety Authority (EFSA) approving various insect species for human consumption. This regulatory support, coupled with Europe's strong emphasis on sustainability and environmental responsibility, aligns with the ecological benefits of insect farming, such as reduced greenhouse gas emissions and lower resource consumption. Additionally, the region's health-conscious consumers are increasingly open to innovative food sources. This synergistic environment of supportive regulations, consumer awareness, and sustainability priorities positions Europe as a dynamic hub for the growth and adoption of insect proteins.

For instance, in January 2023, the European Union officially approved the sale of house crickets and larvae insects for human consumption in powder and other dried forms. This regulatory development is anticipated to significantly increase the demand for whole insects within the region. Moreover, in June 2023, The European Union advanced towards permitting the sale of UV-treated yellow mealworm powder as a human-grade food. The EFSA also recently issued a positive opinion regarding the safety and nutritional value of Tenebrio molitor, following a novel food application submitted by the French company Nutri’Earth. Also, in January 2021, the EFSA announced its approval of mealworms for human consumption, paving the way for increased market opportunities and consumer acceptance within the insect protein market.

Therefore, the interplay of all the above-mentioned factors are expected to bolster the growth of the insect protein market in Europe during the forecast period from 2024 to 2030.

Insect Proteins Market Key Players:

Some of the key market players operating in the Insect Proteins market include Essento, Protix, Entomo Farms, Ynsect, Altimate Foods Pte. Ltd., Darling Ingredients, Flying Spark Ltd, LIVIN farms AgriFood GmbH, Armstrong Crickets Georgia, Chapul, Global Bugs Asia, Hargol FoodTech, FarmInsect GmbH, CricketOne Asia, Aspire Food Group, and others.

Recent Developmental Activities In The Insect Proteins Market:

In April 2024, Protix announced the results of a new Life Cycle Assessment (LCA) conducted by DIL. The LCA was carried out on Protix products which are based on the black solider fly (BSF), and the results showed that the products had positive effects in terms of environmental footprint. Compared to most commonly used proteins, Protix ProteinX has a lower footprint. ProteinX insect meal reduces CO2 emissions by 78% compared to other plant based protein which increases its nutritional value.

In May 2023, Ynsect launched new mealworm-based products including protein powders and whole insects, which is a convenient, sustainable snack option packed with protein.

In September 2021, Hoppy Planet Foods, a company focused on sustainable and innovative food products, acquired EXO Protein from Aspire Food Group. Aspire Food Group is recognized globally as a leader in insect agriculture, specializing in the farming and processing of insects for food and feed. EXO Protein, known for its protein bars made from cricket flour, aligns with Hoppy Planet Foods' mission of promoting environmentally friendly and nutritious food options. This acquisition was aimed at expanding Hoppy Planet Foods' product portfolio and advancing the market for insect-based protein, which is seen as a sustainable alternative to traditional animal proteins.

Key Takeaways From The Insect Proteins Market Report Study

Market size analysis for current insect proteins market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the insect proteins market.

Various opportunities available for the other competitors in the insect proteins market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current insect proteins market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for insect proteins market growth in the coming future?

Target Audience Who Can Be Benefited From This Insect Proteins Market Report Study

Insect proteins product providers

Research organizations and consulting companies

Insect proteins-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and traders dealing in insect proteins

Various end-users who want to know more about the insect proteins market and the latest product developments in the insect proteins market.

Frequently Asked Questions For The Insect Proteins Market:

1. What are insect proteins?

Insect proteins are proteins derived from insects, which are considered as a sustainable and nutritious alternative to traditional animal proteins like beef, chicken, and fish.

2. What is the market for insect proteins?

The insect proteins market is estimated to grow at a CAGR of 3.98% during the forecast period from 2024 to 2030.

3. What are the drivers for the global insect proteins market?

The insect proteins market is slated to witness prosperity owing to the increasing demand for alternative and sustainable sources of protein, reflecting a shift towards mitigating environmental impacts associated with traditional protein production. In addition, there is a notable inclination towards nutritive food products driven by heightened awareness of health and nutrition trends, positively contributing to the overall health outcomes such as for muscle growth, weight management, and overall well-being. This dual focus on sustainability and nutrition is propelling the adoption of insect proteins which is expected to drive the growth of the insect protein market during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global insect proteins market?

Some of the key market players operating in Insect Proteins include Essento, Protix, Entomo Farms, Ynsect, Altimate Foods Pte. Ltd., Darling Ingredients, Flying Spark Ltd, LIVIN farms AgriFood GmbH, Armstrong Crickets Georgia, Chapul, Global Bugs Asia, Hargol FoodTech, FarmInsect GmbH, CricketOne Asia, Aspire Food Group, and others.

5. Which region is the fastest growing in the global insect protein market?

Europe is expected to grow at the fastest CAGR in the overall insect protein market during the forecast period from 2024 to 2030. Europe's rapid growth in the insect protein market is driven by regulatory advancements, notably the European Food Safety Authority (EFSA) approving various insect species for human consumption. This regulatory support, coupled with Europe's strong emphasis on sustainability and environmental responsibility, aligns with the ecological benefits of insect farming, such as reduced greenhouse gas emissions and lower resource consumption. Additionally, the region's health-conscious consumers are increasingly open to innovative food sources. This synergistic environment of supportive regulations, consumer awareness, and sustainability priorities positions Europe as a dynamic hub for the growth and adoption of insect proteins.