Insect Protein: Market Outlook
The consumption of the whole insect or consuming the insect-derived products are two methods by which the insect protein can be consumed by humans or by any animal. The insects are considered as the source of high-quality proteins. when compared to meat proteins, insect-based products are a rich source of proteins for both food & feed applications. In the South Asian and East Asian countries, the edible insect and insect proteins are an integral part of their diet from the centuries. Conversely, the growing awareness about the nutritional quotient of the insect protein resulted in the radical acceptance of insect-based products and insect proteins in the established economies from regions like North America and Europe.
As a dry product, edible insects contain 50% to 80% of protein which is essential to animal nutrition. Edible insects also contain amino acids, which are highly digestible for animals. Some insects contain lauric acid, antimicrobial peptides, and chitin, which have immune-boosting properties. Edible insects for animal feed, due to their high nutritional content and evolving as a new alternative to plant-based protein, is expected to boost the market growth.
Manufacturers Increasing their Production Capacities Looking at Potential Opportunities
The initial cost for the companies to start the production of insect protein for food and feed applications is very low. Many startups in the insect proteins have started their production at very low investment. As the demand for the insect protein is increasing exponentially, the manufacturers are planning to expand or already expanded their production capacities. The investors also see the potential demand for insect proteins in the future and investing in this business helping the manufacturers in expanding their production capacity. This has resulted in the evolution of startup culture in Europe. Many startup companies founded in the years 2016, 2017, and 2018 in the field of insect protein market. This is expected to boost the demand for insect proteins over the forecasted period. On the contrary, the regulatory challenges for the manufacturers of insect proteins change according to the region and country, and it is considered as the potential threat to the insect protein market.
Global Insect Protein Market: Market Segmentation
On the basis Insect Type, the global insect protein market has been segmented as,
On the basis of Application, the global insect protein market has been segmented as,
On the basis of Form, the global insect protein market has been segmented as,
Global Insect Protein Market: Market Participants
The market participants in the global insect protein market identified across the value chain include EntomoFarms, Jimini’s, Aspire Food Group, Protifarm, Chapul Cricket Protein, Agriprotein Holdings Ltd., Swarm Nutrition GmbH, Innovafeed, Hexafly, EnviroFlight LLC, Protix, Innovafeed, and Ynsect among the other insect protein manufacturers.
Opportunities for Market Participants in the Global Insect Protein Market
The global insect protein market is witnessing exponential growth from the past few years. The manufacturers are also experiencing a sudden increase in the demand from various industries such as Food & beverage industry for the human consumption and Animal feed industry for animal consumption. The demand for insect protein is increasing owing to its best suitable nutritional profile for the fish and pet animals. The insect proteins are also the best high protein source for the poultry animals and pork and the manufacturers of the insect proteins have lucrative opportunities in the animal feed segment.
Globally, the trend of organic food consumption is rapidly gaining popularity, resulting in an increase in demand for organic ingredients in the animal feed segment. This opportunity is capitalized by the edible insect farmers and insect protein manufacturers to offer high-quality organic products to the consumers. Insect farmers and insect protein manufacturers need to investigate the legal and appropriate standards for organic insect farming. Organic insect feed adherence with quality standards and guidelines may lead to an increase in demand for insect proteins across the globe.
The established markets such as North America and Europe are the most lucrative markets for the insect protein manufacturers. Europe is experiencing the highest demand for insect proteins followed by North America. The European edible insect manufacturers are commercializing their insect proteins and approximately 1000 tons of insect protein in commercialized by the European edible insect farmers. This trend is subjected to increase the market demand for insect protein in food and feed applications.
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