Insect Protein Market Size, Share, Growth, Demand And Report 2024-2032

Insect Protein Market Size, Share, Growth, Demand And Report 2024-2032

The latest report by IMARC Group, titled “ Insect Protein Market Report by Source (Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera, and Others), Distribution Channel (Offline, Online), Application (Animal Nutrition, Food and Beverages, Pharmaceutical and Supplements, Personal Care and Cosmetics), and Region 2024-2032, offers a comprehensive analysis of the industry, which comprises insights on the global insect protein market price. The global market size reached US$ 979.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 4,902.4 Million by 2032, exhibiting a growth rate (CAGR) of 19.6% during 2024-2032.

Factors Affecting the Growth of the Insect Protein Industry:

• Growing Population:

As the population increases, the challenge of meeting the escalating demand for food becomes increasingly urgent. Additionally, insect protein emerges as a viable solution to this challenge, offering a sustainable and scalable alternative. Moreover, insects have a high feed-to-protein conversion rate and require significantly less land and water compared to conventional livestock. Besides this, they can be reared in controlled environments with minimal environmental impact. The ability of insect protein to efficiently meet large-scale food demands, while reducing the strain on natural resources, positions it as a critical component in future food security strategies. As the global population continues to increase, incorporating insect protein into food systems can play a crucial role in addressing the growing need for sustainable protein sources.

• Growing Consumer Awareness regarding Health Benefits:

Insect protein is gaining recognition for its substantial health benefits, which are driving increased consumer interest. Additionally, insect protein is rich in high-quality protein and provides essential amino acids necessary for muscle growth and repair. Furthermore, insect protein is packed with vitamins, such as B12 and folate, minerals like iron and zinc, and essential fatty acids, which are crucial for overall health and well-being. Its digestibility is another advantage, making it an excellent choice for human consumption and animal feed. As consumers become more health-conscious and seek out nutrient-dense food options, insect protein offers a compelling alternative. Hence, the growing awareness aligns with the increasing demand for functional and nutritious foods, making insect protein an attractive option for health-conscious individuals and those looking for diverse sources of essential nutrients.

• Innovation in Food Products:

The food industry is increasingly embracing innovation, including the exploration of novel protein sources like insect protein. This trend reflects a broader movement toward developing sustainable and unique food products. Additionally, insect protein is being integrated into a variety of consumer products, such as protein bars, snacks, and meat substitutes, offering new and sustainable options for health-conscious and environmentally aware consumers. This incorporation meets the demand for alternative protein sources and aligns with evolving dietary preferences and sustainability goals. Moreover, food manufacturers are capitalizing on the versatility of insect protein to create products that appeal to a growing segment of consumers interested in trying innovative and eco-friendly foods.

Competitive Landscape with Key Player:

•  Aspire Food Group
• Chapul LLC
• Entomo Farms
• EnviroFlight LLC (Darling Ingredients)
• Goterra, Hexafly
• InnovaFeed SA
• Jimini's, nextProtein
• Protenga
• Protix B.V.

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Report Segmentation:

The report has segmented the market into the following categories:

Source Insights:

• Coleoptera
• Lepidoptera
• Hymenoptera
• Orthoptera
• Hemiptera
• Diptera
• Others

Based on the source, the market has been categorized into coleoptera, lepidoptera, hymenoptera, orthoptera, hemiptera, diptera, and others.

Distribution Channel Insights:

• Offline
• Online

Offline represents the largest segment as traditional retail and direct sales channels have established a strong presence in the insect protein market, catering to consumer preferences for in-person shopping and immediate product availability.

Application Insights:

• Animal Nutrition 
  • Aqua Feed
  • Poultry Feed
  • Others
• Food and Beverages
• Pharmaceutical and Supplements
• Personal Care and Cosmetics

Animal nutrition holds the largest market share as insect protein provides a sustainable and highly nutritious alternative to conventional feed ingredients for livestock and pets.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Europe’s dominance in the insect protein market is attributed to its progressive regulatory environment, increasing levels of consumer acceptance, and strong investments in sustainable food production technologies across the region.

Global Insect Protein Market Trends:

At present, as concerns about environmental sustainability and resource scarcity increase, insect protein is gaining attention as an eco-friendly alternative to traditional livestock. Additionally, insects require less land, water, and feed compared to conventional animals, thus contributing to the market growth. Moreover, several innovations in insect farming techniques, such as optimized breeding, feeding, and harvesting processes, are improving the efficiency and scalability of insect production. Besides this, insect protein is being incorporated into a wider range of products, from animal feed and pet food to human food products like protein bars, snacks, and meat substitutes which helps expand the market reach.

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