Global Edible Insects for Feed Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029
Edible insects for feed are insect species used as animal feed, either for livestock, including aquaculture, or as pet food. Not just the whole insects, it also includes the processed forms such as powder or oils.
Market Overview:The latest research study on the global Edible Insects for Feed market finds that the global Edible Insects for Feed market reached a value of USD 502.29 million in 2022. It’s expected that the market will achieve USD 2552.0 million by 2028, exhibiting a CAGR of 31.12% during the forecast period.
Affect the normal operation of the industry
The raging COVID-19 plunged the global economic environment into depression. The impact of COVID-19 on the edible insects for feed industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The government has also put forward higher requirements for the production and operation of enterprises.
In the short term, from the supply side, the company's operating pressure will increase due to postponement of workers' arrival and logistics and transportation issues. In the long run, as the epidemic gradually improves or ends, the impact on the edible insects for feed industry will gradually weaken. Production and sales will return to the original level and gradually increase.
Industrial automation will further develop
The epidemic will promote automated production in the industry, enabling manufacturers to hire more high-tech talents and multi-skilled compound workers, reduce dependence on labor, and better respond to labor fluctuations. At the same time, more and more attention will be paid to the standardization of components, the intelligentization of logistics and the enhancement of the anti-risk ability of the supply chain.
Active corporate investment activities
The insects for feed market remain a niche market, a segment largely populated by small start-ups. As the demand for edible insects continues to grow, manufacturers have raised capital for expansion plans. Investors are supporting many start-up programs as the demand for nutritious, sustainable and healthful proteins is witnessing an increase in demand from customers as well as manufacturers involved in providing healthful products. Key players are employing unique marketing strategies to expand their consumer base. Most companies in the market are forming strategic partnerships to ensure increased awareness of the different benefits of insects. They are focusing on developing modern trade channels to ensure better coverage of their products. Manufacturers are also working with a variety of organizations and technology leaders to increase productivity without compromising quality and variety.
High costs
Price is one of the major limitations for insects to enter the mainstream market. Insects for feed are still somewhat expensive because economies of scale have not yet been achieved in production. To be considered a sustainable source of nutrients on a global scale would require a massive increase in production on a scale much larger than the current sum of wild harvesting and cultivation. However, scaling up can be an expensive process that requires investment in building facilities.
Insect safety
Eating insects comes with risks. Pesticide and heavy metal contamination, naturally present toxins such as cyanogenic glycosides and the possible transmission of infectious disease all pose risks. Allergies could also be a hazard for some. Therefore, risks within the mass-production of insects need to be determined, which can be achieved by closing the existing research gap. The use of manure still needs further research to ensure its safety. Feed safety needs to be assured and regulatory conditions must be developed and respected. Quality needs to be high and guaranteed; rearing substrates based on waste should be certified for future large-scale operations.
Region Overview:In global comparison, a significant portion of the revenue was generated in Europe (46.94% in 2022).
Company Overview:Ynsect is one of the major players operating in the Edible Insects for Feed market, holding a share of 23.61% in 2023.
Ynsect
Founded in 2011 in Paris, France by scientists and environmental activists, Ÿnsect transforms insects into premium, high-value ingredients for pets, fish, plants, and human beings. From its purpose-built state of the art farms, Ÿnsect offers an organic, long-term sustainable solution to accelerate consumption of protein and plants. Ÿnsect is currently building its third production unit in Amiens, France and operates two sites in France (since 2016) and the Netherlands (since 2017).
InnovaFeed
InnovaFeed is a biotech company that produces natural and sustainable ingredients for animal feed and plant nutrition from insect rearing (Hermetia illucens).
Segmentation Overview:Among different product types, Meal (Powder) segment is anticipated to contribute the largest market share in 2028.
Application Overview:The market's largest segment by application is the segment Aquaculture, with a market share of 33.46% in 2022.
Key Companies in the global Edible Insects for Feed market covered in Chapter 3:Entobel
EnviroFlight, LLC
Protenga
Enterra Feed Corporation
Mutatec
NextProtein
Beta Hatch
Nutrition Technologies
Ynsect
InnovaFeed
Nusect
Hexafly Biotech
Protix
AgriProtein Holdings Ltd
HiProMine
In Chapter 4 and Chapter 14.2, on the basis of types, the Edible Insects for Feed market from 2018 to 2029 is primarily split into:Meal (Powder)
Oils
Whole (Dried Insects)
In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Edible Insects for Feed market from 2018 to 2029 covers:Livestock
Poultry
Swine
Pet Food
Aquaculture
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)