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Insects Protein Market

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Insects Protein Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Type (Crickets, Bees, Ants, black Soldier Files, mealworms, Wasps, and Grasshoppers), By End User (Food and Beverages, Animal Feed, Pharmaceuticals, Cosmetics, and Protein Supplements) By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)

  • Published Date: June 2022
  • Report ID: BWC22179
  • Available Format: PDF
  • Page: 186

Report Overview

Global Insects Protein Market is gaining significant traction owing to the rising necessity of protein alternatives in the Food and Beverages industry, increasing shift towards healthy lifestyles, and growing usage of the high protein content of insects along with rising concern over future sustainability...

Global Insects Protein Market- Industry Trends & Forecast Report 2028

The Global Insects Protein Market was worth USD 201.4 million in 2022 and is further projected to reach USD 858.06 million by the year 2028, growing at a CAGR of 23.1% during the forecast period (2023-2028). The market is witnessing significant growth at a high rate owing to the rising preference of consumers for healthy and nutritious food, and the growing introduction of insects-based protein bars, protein powder, pasta, and bakery products. In addition, insects provide more protein than meat, and chicken eggs, the protein bars each contain 60 crickets/bar, cricket protein are 50% more digestible than whey, and has complete amino acid in it, also the protein supplement is entirely made up of insects which helps muscle growth. Moreover, the feedstock of insects is widely used as an ingredient for animal feed, pets, and fish. All these factors drive the growth of the Global Insects Protein market during the forecast period.

Insects Protein Market

Insects Protein – Overview

Insects are processed into a non-recognizable form of powder, or flour and used as an ingredient in various food production processes. Insects Protein is used for human and animal consumption, it  is  environment - friendly as insects require very few sources like water, and land to breed and are very nutritious than fish, beef, and other animal meat. Insect proteins contain nutrients like zinc, vitamins, and amino acids. The world population is growing enormously which occupiesa large part of the land which leads to leavinga small percentage for agriculture, which forces farmers and manufacturers to make alternative ways like Insects Protein for animal feed on the scarcity of land.

Global Insects Protein Market Forecast and Trends

Growth Drivers

Increasing Demand for Alternative Proteins

The rising population, increasing concerns about the environment, advancement in food technology, and growing investments in alternative protein companies act as  major driving factors for the growth of the Global Insects Protein Market during the forecast period. In addition, increasing meat protein consumption, and gluten-free, soy-free food demand are difficult to cater to in the future because of less availability of land, and water resources. Thus, insect protein is the best solution as an alternative to meet the demand for protein and nutritious food consumption across the globe.

Growing Young Population Trends for a Sustainable Lifestyle

The global young population is more conscious about the environment, scarcity of land, water, energy resources, animal welfare, and food they are eating. This  results in search for alternatives of conventional meat protein to save the global planet. These next-generation concerns are expected to create huge opportunities and availability of Global Insects Proteins which accelerates the growth of the Global Insects Protein Market during the forecast period. Many western countries are already utilizing insects as a protein source, and a worldwide steady increase in the Global Insects Protein market is anticipated to continue during the forecast period (2023-2028).

Restraints

Microbial and Allergic Concerns among Consumers.

To some consumers, Insects Protein is unsafe and can cause allergic condition this lack of awareness about Insects Protein is the main restraining factor for the growth of the Global Insects Protein Market. But insect consumption is very healthy, nutritious, and safe for consumption by humans, as well as, for animals. However, insect species are consumed in at least 113 countries. People are not aware of it and fear buying new alternatives of food owing to general neophobic tendencies which lead to fear or disgust of insects as a protein source and they strongly reject insects’ protein as a normal food in their diet, despite their high nutritional value which in turn limits the growth of the Global Insects protein Market.

Impact of COVID-19 on Global Insects Protein Market

The sudden outbreak of COVID-19 unfavorably affected the growth of the Global Insects Protein Market. The food service industry faced many challenges owing to a halt in many productions during complete lockdown due to government restricted social distancing norms, disruption in supply chains, shortage of raw materials, and lesser development activities. Moreover, people's concern about the transmission of viruses through animals or insects is the main reason for the rejection of insects-based protein food which declines the growth of the Global Insects Protein Market.

Global Insects Protein Market - By Type

Based on Type, the Insects Protein Market is segmented into Crickets, Bees, Ants, black Soldier Files, mealworms, Wasps, and Grasshoppers. The Crickets segment accounts for the largest market share owing to its high nutritional value of around 55-70% protein with complete amino acid, and low fat, and its wide usage in protein supplements and protein bars which are largely consumed by various consumers around the globe.

Global Insects Protein Market - By Distribution Channel

Based on Distributional Channel, the Global Insects Protein Market is segmented into Online Retail, Convenience Stores, Supermarkets/Hypermarkets, and others. The Online Retail segment accounts for the largest market share as the demand for Insects Protein increased enormously by the young generation.  The snacks consumption, rising mobile usage, advertisements, and the rapidly growing e-commerce business with emerging sales of Insects Protein bars, gym protein supplements, insects mixed pasta, pizza, and dairy products as well as a variety of Insects Protein food products are available in Online websites, thereby, accelerating the growth of the Global Insects Protein market.

Global Insects Protein Market – By End-User

Based on End-User, the Global Insects Protein market is segmented into Food and Beverages, Animal Feed, Pharmaceuticals, Cosmetics, and Protein Supplements. The Food and Beverages segment dominates the market owing to the increasing need for protein in food and beverages. Also rising consumption of animal protein like meat, eggs, and milk  compels manufacturers to use insect protein as an alternative to meet the protein demand followed by new products launches such as mealworm cookies, cricket pasta, bars, mixed insect snacks, honey caterpillar croquettes, candies, and other insect-based protein products.

Global Insects Protein Market - Regional Insights

Geographically, the Global Insects Protein Market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The Europe segment accounts to hold the largest share in the market owing to the higher population rate, increasing demand for Insects Protein food products in major markets of the UK, and Germany, and various growing research as well as development activities in this region are driving the Global Insects Protein market growth during the forecast period.

Competitive Landscape

The leading market players in the Global Insects Protein market are Chapul Cricket Protein (US), Protifarm (Netherlands), Aspire Food Group (US), Swarm Nutrition GmbH (Germany), EntomoFarms (Canada), Jimini’s (UK), Protix (Netherlands), Hexafly (Ireland), Ynsect (France), Innovafeed (France), EnviroFlight LLC (US), AgriProtein Holdings Ltd. (South Africa) and other prominent players.

The Global Insects Protein market is highly consolidated with the presence of multinational food and beverages companies. These companies constantly launch a wide range of products with innovations to attract consumers and so significantly invest in research and development activities to further innovate their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Developments

  • In March 2021, Nutrition Technologies raised USD 5 million in a Pre-Series B funding round to open an insect protein factory in Malaysia. The investment was made with participation from the existing investors, Openspace Ventures and SEEDS Capital, the investment arm of Enterprise Singapore. This investment may help the company enter new markets in Southeast Asia and fund its R&D.

 

  • In February 2021, Aspire Food Group and its collaborations were awarded approximately USD 13.2 million from Next Generation Manufacturing (Ngen) to help construct a cricket protein plant in Canada.

 

Scope of the Report

Attributes Details
Years Considered Historical data – 2018-2021
Base Year – 2022
Forecast – 2023 – 2028
Facts Covered Revenue in USD Million
Market Coverage North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA
Product Service/Segmentation By Type, By Distribution Channel, By End User, By Region
Key Players Chapul Cricket Protein (US), Protifarm (Netherlands), Aspire Food Group (US), Swarm Nutrition GmbH (Germany), EntomoFarms (Canada), Jimini’s (UK), Protix (Netherlands), Hexafly (Ireland), Ynsect (France), Innovafeed (France), EnviroFlight LLC (US), AgriProtein Holdings Ltd. (South Africa) and Other prominent players.

 

By Type

  • Crickets
  • Bees
  • Ants
  • Black Soldier Flies
  • Mealworms
  • Wasps
  • Grasshoppers

By Distribution Channel

  • Online retail
  • Convenience Stores
  • Supermarkets/Hypermarkets
  • others

By End-User

  • Food and Beverages
  • Animal Feed
  • Pharmaceuticals
  • Cosmetics
  • Protein Supplements

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Insects Protein Market Insights
    1. Industry Value Chain Analysis
    2. GROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Insects Protein Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1.            ByType
        1. Crickets
        2. Bees
        3. Ants
        4. Black Soldier Files
        5. Mealworms
        6. Wasps
        7. Grasshoppers

 

      1. By Distribution Channel

 

    1. Online Retail
    2. Convenience Stores
    3. Supermarkets/Hypermarkets
    4. Others
      1. By End-User
        1. Food and Beverages
        2. Animal Feed
        3. Pharmaceuticals
        4. Cosmetics
        5. Protein Supplements
      2. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle-East and Africa
  2. North America Insects Protein Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By End-User
      4. By Region
        1. United States
        2. Canada
  3. Europe Insects Protein Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By End-User
      4. By Region
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  4. Asia Pacific Insects Protein Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By End-User
      4. By Region
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  5. Latin America Insects Protein Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By End-User
      4. By Region
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  6. Middle East & Africa Insects Protein Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Type
      2. By Distribution Channel
      3. By End-User
      4. By Region
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of the Middle East & Africa
  7. Competitive Landscape
    1. List of Key Players and their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  8. Impact of COVID-19 on Insects ProteinIndustry
  9. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Chapul Cricket Protein (US)
    2. Protifarm (Netherlands)
    3. Aspire Food Group (US)
    4. Swarm Nutrition GmbH (Germany)
    5. EntomoFarms (Canada)
    6. Jimini’s (UK)
    7. Protix (Netherlands)
    8. Hexafly (Ireland)
    9. Ynsect (France)
    10. Innovafeed (France)
    11. EnviroFlight LLC (US)
    12. AgriProtein Holdings Ltd. (South Africa)
    13. Other prominent players.
  10. Key Strategic Recommendations

 

List of Figures

 

Figure 1        Global Insects Protein Market Segmentation

Figure 2        Global Insects Protein Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2022

Figure 4        Global Insects Protein Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Insects Protein Market Share, By Type, By Value, 2018-2028

Figure 6        Global Insects Protein Market Share, By Region, By Value, 2018-2028

Figure 7        Global Insects Protein Market Share, By End-User, By Value, 2018-2028

Figure 8        Global Insects Protein Market Share, By Region, By Value, 2018-2028

Figure 9        North America Insects Protein Market Size, By Value (USD Million), 2018-2028

Figure 10       North America Insects Protein Market Share, By Type, By Value, 2018-2028

Figure 11       North America Insects Protein Market Share, By Value, 2018-2028

Figure 12       North America Insects Protein Market Share, By End-User, By Value, 2018-2028

Figure 13       North America Insects Protein Market Share, By Country, By Value, 2018-2028

Figure 14       Europe Insects ProteinSize, By Value (USD Million), 2018-2028

Figure 15       Europe Insects Protein Share, By Type, By Value, 2018-2028

Figure 16       Europe Insects Protein Market Share, By Value, 2018-2028

Figure 17       Europe Insects Protein Market Share, By End-User, By Value, 2018-2028

Figure 18       Europe Insects Protein Market Share, By Country, By Value, 2018-2028

Figure 19       The Asia-Pacific Insects Protein Market Size, By Value (USD Million), 2018-2028

Figure 20       The Asia-Pacific Insects ProteinProtein Market Share, By Product, By Value, 2018-2028

Figure 21       The Asia-Pacific Insects Protein Market Share, By Value, 2018-2028

Figure 22       The Asia-Pacific Insects Protein Market Share, By End-User, By Value, 2018-2028

Figure 23       The Asia-Pacific Insects Protein Market Share, By Country, By Value, 2018-2028

Figure 24       Latin America Insects Protein Market Size, By Value (USD Million), 2018-2028

Figure 25       Latin America Insects Protein Market Share, By Product, By Value, 2018-2028

Figure 26       Latin America Insects Protein Market Share, By Value, 2018-2028

Figure 27       Latin America Insects Protein Market Share, By End-user, By Value, 2018-2028

Figure 28       Latin America Insects Protein Market Share, By Country, By Value, 2018-2028

Figure 29       The Middle East & Africa Insects Protein Market Size, By Value (USD Million), 2018-2028

Figure 30       The Middle East & Africa Insects Protein Market Share, By Product, By Value, 2018-2028

Figure 31       The Middle East & Africa Insects Protein Market Share, By Product, By Value, 2018-2028

Figure 32       The Middle East & Africa Insects Protein Market Share, By Region, By Value, 2018-2028

Figure 33       The Middle East & Africa Cultured Meat Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1         Global Insects Protein Market Size, By Product, By Value, 2018-2028

Table 2         Global Insects Protein Market Size, By Value, 2018-2028

Table 3         Global Insects Protein Market Size, By End-User, By Region, 2018-2028

Table 4         Global Insects Protein Market Size, By Region, By Value, 2018-2028

Table 5         North America Insects Protein Market Size, By Type, By Value, 2018-2028

Table 6         North America Insects Protein Market Size, By Value, 2018-2028

Table 7         North America Insects Protein Market Size, By End-User, By Value, 2018-2028

Table 8         North America Insects Protein Market Size, By Country, By Value, 2018-2028

Table 9         Europe Insects Protein Market Size, By Product, By Value, 2018-2028

Table 10        Europe Insects Protein Market Size, By Distribution Channel, By Value, 2018-2028

Table 11        Europe Insects Protein Market Size, By Value, 2018-2028

Table 12        Europe Insects Protein Market Size, By Country, By Value, 2018-2028

Table 13        The Asia-Pacific Insects Protein Market Size, By Value, 2018-2028

Table 14        The Asia-Pacific Insects Protein Market Size, By Type, 2018-2028

Table 15        The Asia-Pacific Insects Protein Market Size, By End-User, By Value, 2018-2028

Table 16        The Asia-Pacific Insects Protein Market Size, By Country, By Value, 2018-2028

Table 17        Latin America Insects Protein Market Size, By Type, By Value, 2018-2028

Table 18        Latin America Insects Protein Market Size, By Value, 2018-2028

Table 19        Latin America Insects Protein Market Size, By End-User, By Value, 2018-2028

Table 20        Latin America Insects Protein Market Size, By Country, By Value, 2018-2028

Table 21        The Middle East & Africa Insects Protein Market Size, By Category, By Value, 2018-2028

Table 22        The Middle East & Africa Insects Protein Market Size, By Value, 2018-2028

Table 23        The Middle East & Africa Insects Protein Market Size, By End-User, By Value, 2018-2028

Table 24        The Middle East & Africa Insects Protein Market Size, By Country, By Value, 2018-2028

Table 25        Chapul Cricket Protein (US) Company Overview

Table 26        Chapul Cricket Protein (US) Financial Overview

Table 27        Protifarm (Netherlands) Company Overview

Table 28        Protifarm (Netherlands) Financial Overview

Table 29        Aspire Food Group (US) Company Overview

Table 30        Aspire Food Group (US) Financial Overview

Table 31        Swarm Nutrition GmbH (Germany) Company Overview

Table 32        Swarm Nutrition GmbH (Germany) Financial Overview

Table 33        EntomoFarms (Canada)Company Overview

Table 34        EntomoFarms (Canada)Financial Overview

Table 35        Jimini’s (UK)Company Limited (China) Company Overview

Table 36        Jimini’s (UK)Company Limited (China) Financial Overview

Table 37        Protix (Netherlands) Company Overview

Table 38        Protix (Netherlands) Financial Overview

Table 39        Hexafly (Ireland) Overview

Table 40        Hexafly (Ireland) Financial Overview

Table 41        Ynsect (France) Company Overview

Table 42        Ynsect (France) Financial Overview

Table 43        Innovafeed (France) Company Overview

Table 44        Innovafeed (France) Financial Overview

Table 45        EnviroFlight LLC (US) Company Overview

Table 46        EnviroFlight LLC (US) Financial Overview

Table 47        AgriProtein Holdings Ltd. (South Africa) Company Overview

Table 48        AgriProtein Holdings Ltd. (South Africa) Corporation Financial Overview

Table 49        Other prominent players Company Overview

Table 50        Other prominent players Financial Overview

 

Market Segmentation

By Type

  • Crickets
  • Bees
  • Ants
  • Black Soldier Flies
  • Mealworms
  • Wasps
  • Grasshoppers

By Distribution Channel

  • Online retail
  • Convenience Stores
  • Supermarkets/Hypermarkets
  • others

By End-User

  • Food and Beverages
  • Animal Feed
  • Pharmaceuticals
  • Cosmetics
  • Protein Supplements

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)
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Frequently Asked Questions (FAQs):

Ans: Global Insects Protein market reached USD 201.4 million in 2022.
Ans: Europe has the largest share in the Global Insects Protein market.
Ans: The key players in the Global Insects Protein market are Chapul Cricket Protein (US), Protifarm (Netherlands), Aspire Food Group (US), Swarm Nutrition GmbH (Germany), EntomoFarms (Canada), Jimini’s (UK), Protix (Netherlands), Hexafly (Ireland), Ynsect (France), Innovafeed (France), EnviroFlight LLC (US), AgriProtein Holdings Ltd. (South Africa) and other prominent players.
Ans: The Food and Beverages segment accounted for the largest share of the Global Insects Protein Market.
Ans: The major factors driving the growth of the Global Insects Protein Market are the rising necessity of protein alternatives in the Food and Beverages industry, increasing shift towards healthy lifestyles, and growing usage of high protein content in insects with rising concern over future sustainability.