Insect Protein Market Overview 2024-2032, Demand by Regions, Types and Analysis of Key Players

 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 share. 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:

• Environmental Sustainability:

Environmental sustainability is a significant factor driving the global insect protein market. Traditional livestock farming is a major contributor to greenhouse gas emissions, deforestation, and water consumption. In contrast, insect farming is highly efficient and sustainable. Insects require far less land, water, and feed compared to conventional livestock. For instance, crickets need only about one-sixth the amount of feed that cattle require to produce the same amount of protein. Additionally, insects can be reared on organic waste, turning food scraps and agricultural by-products into high-quality protein, which helps in waste management and reduces the environmental footprint. The lower greenhouse gas emissions associated with insect farming are another key benefit.

• Nutritional Value and Health Benefits:

Insect protein is gaining popularity due to its high nutritional value and associated health benefits. Insects are a rich source of high-quality protein, containing all essential amino acids required for human health. They are also packed with vitamins, minerals, and healthy fats. For instance, mealworms are rich in B vitamins, zinc, iron, and magnesium, which are essential for various bodily functions, including immune support and muscle growth. The high protein content in insects makes them an excellent alternative for individuals seeking to increase their protein intake, especially for athletes and bodybuilders. Additionally, insect protein is easily digestible and has been found to have a favorable amino acid profile compared to traditional protein sources such as beef and soy. The low-fat content and presence of beneficial omega-3 and omega-6 fatty acids in insects contribute to heart health and help in reducing bad cholesterol levels. As consumers become more health-conscious and seek nutrient-dense foods, the demand for insect protein is expected to grow, driving the market forward.

• Growing Popularity and Food Security:

The increasing global population and the corresponding rise in food demand are significant drivers of the insect protein market. Traditional protein sources such as beef, poultry, and fish may not be sufficient to meet this rising demand. Insects offer a viable solution to the looming food security crisis. They have a high feed conversion efficiency, meaning they can convert feed into protein more effectively than traditional livestock. For instance, crickets can convert 2 kilograms of feed into 1 kilogram of body mass, while cattle require about 8 kilograms of feed to produce the same amount of meat. This efficiency makes insect farming a more sustainable and scalable option for protein production. Additionally, insects have a short life cycle and can be harvested quickly, ensuring a continuous and reliable protein supply. Incorporating insect protein into the food supply chain can diversify protein sources, reduce dependency on conventional livestock, and enhance food security.

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 divided into coleoptera, lepidoptera, hymenoptera, orthoptera, hemiptera, diptera, and others.

Distribution Channel Insights:

• Offline
• Online

Offline dominates the market as traditional retail stores and supermarkets continue to dominate consumer purchasing habits, providing immediate access to products and fostering trust through physical presence and direct interaction.

Application Insights:

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

Animal nutrition holds maximum number of shares as insects provide a high-protein, sustainable, and cost-effective feed option for livestock, poultry, and aquaculture industries, enhancing growth and health in these animals.

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 strong regulatory support, increasing consumer acceptance, and significant investments in sustainable food sources.

Global Insect Protein Market Trends:

Technological advancements in insect farming and processing are crucial drivers of the global insect protein market. Innovations in automated farming systems, such as vertical farming and controlled environment agriculture, have significantly improved the efficiency and scalability of insect production. These technologies allow for the precise control of temperature, humidity, and feeding conditions, optimizing growth rates and yield. Additionally, advancements in processing technologies have enhanced the quality and safety of insect protein products. Modern extraction and purification techniques ensure that insect protein can be processed into various forms, including powders, bars, and snacks, making it more appealing and accessible to consumers. The development of novel food products incorporating insect protein, such as pasta, bread, and protein shakes, has also expanded market reach.

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