DUBLIN, June 23, 2022 /PRNewswire/ — The Insect Protein Market – A Global and Regional Analysis: Focus on Product and Application, Supply Chain Analysis and Country Analysis – Analysis and Forecast, 2022-2027 report has been added ResearchAndMarkets.com Offer.
The global insect protein market has been estimated at $342.87 million in 2021, which is expected to grow at a CAGR of 26.49% and reach $1,386.55 million until 2027.
The growth of the global insect protein market is expected to be driven by increasing demand for protein-rich products, sustainable raw materials and their contribution to the circular economy.
North America achieved the highest sales of $86 million in 2021. Europe also has a significant share of sales in 2021-2027. there in Asia Pacific and Japan Region, people have a long history of eating insects, hence the insect protein market is growing at a tremendous rate and is set to grow at a high CAGR of 31.11% during the forecast period 2022-2027.
phase of the market life cycle
The insect protein market is still in the growth phase. Increased research and development activities are underway to develop insect protein-based products, which are expected to increase due to the shift in consumer preference towards plant-based meats and veganism.
The integration of various new technologies is one of the biggest opportunities in the global insect market. In addition, the properties of insect protein are such that they can be adjusted based on various applications, leading consumers to use insect protein-based products in the animal feed, food, agricultural, cosmetic and pharmaceutical industries.
With an increased global focus on achieving net-zero emissions, the shift to green, sustainable products brings significant sales and financing opportunities. The shift is evident in the food and beverage industry in regions such as North America and Europe. Insect protein-based products are therefore a great alternative to conventional plant and animal foods.
Effects of COVID-19
Since insect-based products have appeared in the market, the impact of the COVID-19 pandemic on the global insect protein market has been insignificant. Furthermore, the increasing trend towards high-protein products is expected to positively influence the growth of the market in the next few years as insect protein-based products contain more nutrients than traditional high-protein products.
In addition, the products contain medicinal properties like ants and are useful in antimicrobial chemicals. Therefore, the consumption and use of other insect protein-based products is expected to increase during and after the COVID-19 pandemic.
How can this report add value?
Global Insect Protein Market has experienced a significant development by major market players such as: B. Business expansion, partnership, cooperation and joint venture. The companies’ preferred strategy has been partnerships and collaborations to strengthen their position in the insect protein market.
For example in February 2022, Innovafeed announced a collaboration with ADM. As part of this collaboration, Innovafeed will offer its black soldier fly protein to ADM’s pet food division to produce “high quality, nutritious” products that have a “much lower carbon footprint and land footprint” than traditional animal protein.
Among the major players in the global Insect Proteins Market analyzed and profiled in the study are insect protein product manufacturers offering raw or processed products. Additionally, a detailed competitive benchmarking of the players operating in the global Insect Protein Market has been carried out to help the reader to understand how the players are stacking up against each other and to present a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations help the reader to understand the untapped revenue streams in the market.
Recent developments in the global insect protein market
in the January 2022After winning a national commercial competition and signing a high-profile research partnership, French insect protein company Ynsect plans to expand into the Japanese and Korean markets.
in the December 2021Neo Bites, a sustainable pet food start-up founded to improve canine health and the pet food industry’s relationship with the environment, has launched the first line of functional insect protein dog food toppers.
in the November 2021Agronutris, a French manufacturer of insect proteins, announced plans to invest about $116 million in the construction of two new factories in the northeast France who would supply a significant part of their production to the European pet food industry.
in the May 2018, Protix formed a joint venture with Buhler to develop rearing and processing solutions for the global market. It also aims to ensure the growth of the global insect-based ingredients market. ‘Buhler Insect Technology Solutions’ was founded by these two companies with strong beliefs and goals in relation to quality and safety.
in the January 2020Darling Ingredients announced the acquisition of Intrexon Corporation’s 50% joint venture interest in EnviroFlight, LLC, making the company sole owner of the US insect protein maker.
Summary of key market players and competition
Aspire Food Group
Main topics covered:
1.1 Industry Outlook
1.1.1 Market Overview
1.1.2 Supply Chain Analysis
1.1.3 Investment landscape
1.1.4 Patent Analysis
18.104.22.168 Patent Analysis (by Status)
22.214.171.124 Patent Analysis (by the Patent Office)
1.2 Business Dynamics
1.2.1 Business Drivers
126.96.36.199 Increasing demand for protein-rich products
188.8.131.52 Increasing demand for natural and sustainable raw materials
184.108.40.206 Growing Demand for Insect Protein in Animal Feed Industry
1.2.2 Business Challenges
220.127.116.11 Less Acceptance of Insect Protein Due to Impaired Consciousness
18.104.22.168 Increasing trend towards herbal products
22.214.171.124 Allergy caused by insect protein
1.2.3 Business Strategies
126.96.36.199 Product Development
188.8.131.52 Business Extension
1.2.4 Corporate Strategies
184.108.40.206 Mergers and Acquisitions
220.127.116.11 Partnerships, Joint Ventures, Cooperations and Alliances
18.104.22.168 Other Strategies Adopted by Major Market Players
1.2.5 Business Opportunities
22.214.171.124 Integration of various new technologies
126.96.36.199 Potential Growth Opportunities in Asia Pacific Market
1.2.6 Impact of COVID-19 on the Global Insect Protein Market
2.1 Global Insect Protein Market (by Application)
2.1.1 Animal Feed
188.8.131.52 Aqua Food
184.108.40.206 Pet Food
220.127.116.11 Poultry feed
2.1.2 Food and Beverage Industry
2.2 Global Insect Protein Market Demand Analysis (by Application)
3.1 Global Insect Protein Market (by Product)
3.1.2 Black Soldier Fly
3.2 Global Insect Protein Market Demand Analysis (by Product)
3.3 Global Insect Protein Market (By Distribution Channel)
3.4 Global Insect Protein Market Demand Analysis (By Distribution Channel)
5 Markets – Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.2 Market Share Analysis
5.3 Company Profiles
For more information about this report, visit https://www.researchandmarkets.com/r/eh28ta
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