Insect Protein Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2020 |
| Market Size (2023) | USD 49.56 Million |
| Market Size (2028) | USD 57.70 Million |
| CAGR (2023 - 2028) | 3.09 % |
| Market Concentration | High |
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Insect Protein Market Analysis
The Global Insect Protein Market size is expected to grow from USD 49.56 million in 2023 to USD 57.70 million by 2028, at a CAGR of 3.09% during the forecast period (2023-2028).
- Largest Segment by End User - Food and Beverages : Bees, wasps, ants, and grasshoppers are gaining popularity in the F&B industry as protein sources due to their high nutritional profile and economic processing techniques.
- Fastest Growing Segment by End User - Animal Feed : As the production of insect protein is relatively less resource intensive than most traditional feed protein sources, it is gaining application in aminal feed industry.
Insect Protein Market Trends
This section covers the major market trends shaping the Insect Protein Market according to our research experts:
Largest Segment By End User : <span style="font-family: 'regular_bold';color:#0e7db3;">Food and Beverages</span>
- By application, F&B sector retained the top position throughout the review period. Superiority of insect protein, like more or comparable quantities of protein as well as digestibility to other Animaland Plant proteins, has been constantly increasing its demand in the F&B sector.
- Additionally, constant innovations in the market, like MOM's Organic Market developed many cricket and mealworm protein-based items, like cricket cookies, mealworm Bolognese & bulk assortment of insects, have been boosting its market sales.
- However, in the forecast period, its demand in Animalfeeds is projected to be the highest. Recognization of its use from government bodies are further escalating its demand. For instance, European Commission officially approved the use of insect protein as a new feed form of aquaculture feed. Approval by the European Commission followed by the CFIA approval of use of insects as a constituent in Salmon feed.
Insect Protein Industry Overview
The Global Insect Protein Market is fragmented, with the top five companies occupying 2.53%. The major players in this market are Insect Technology Group Holdings UK Limited, nextProtein, Protenga, Protix B.V. and Ynsect (sorted alphabetically).
Insect Protein Market Leaders
Insect Technology Group Holdings UK Limited
nextProtein
Protenga
Protix B.V.
Ynsect
*Disclaimer: Major Players sorted in no particular order
Insect Protein Market News
- November 2020: Portenga built smart insect farms that produce insect proteins used as feeds or fertilizers for farming. The smart insect farms are built in a modular and decentralized system, close to waste biomass sources, to overcome the cost and sustainability pitfalls of centralized insect-based farming systems. They are designed for 20-60 metric ton of feedstock intake daily.
- November 2020: AgriProtein, a part of ITG, announced its new joint venture with PreZero US, "Bioko!”. PreZero, a German-based company, is a global recycler at the forefront of developing circular economy solutions from across 90 locations in nine different countries. The two companies have come together to form an operating entity for nutrient recycling processes in the United States.
- July 2020: Protenga closed its latest round of seed investment, raising USD 1.6 million with the UK agritech company Roslin Technologies and the investment arm of Enterprise Singapore, SEEDS Capital. The investment opened the door to circular food system innovations that provide sustainable insect proteins for the growing aquaculture and pet food markets.
Insect Protein Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 End User Market
3.2 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By End User
4.1.1 Animal Feed
4.1.2 Food and Beverages
4.1.2.1 Bakery
4.1.2.2 Beverages
4.1.2.3 Condiments/Sauces
4.1.2.4 Confectionery
4.1.2.5 RTE/RTC Food Products
4.1.2.6 Snacks
4.1.3 Supplements
4.1.3.1 Elderly Nutrition and Medical Nutrition
4.2 By Region
4.2.1 Africa
4.2.1.1 By End user
4.2.2 Asia-Pacific
4.2.2.1 By End user
4.2.2.2 Australia
4.2.2.3 China
4.2.2.4 India
4.2.2.5 Indonesia
4.2.2.6 Japan
4.2.2.7 Malaysia
4.2.2.8 New Zealand
4.2.2.9 South Korea
4.2.2.10 Thailand
4.2.2.11 Vietnam
4.2.2.12 Rest of Asia-Pacific
4.2.3 Europe
4.2.3.1 By End user
4.2.3.2 France
4.2.3.3 Germany
4.2.3.4 Italy
4.2.3.5 United Kingdom
4.2.4 Middle East
4.2.4.1 By End user
4.2.4.2 Iran
4.2.4.3 Saudi Arabia
4.2.4.4 United Arab Emirates
4.2.4.5 Rest of Middle East
4.2.5 North America
4.2.5.1 By End user
4.2.5.2 Canada
4.2.5.3 United States
4.2.6 South America
4.2.6.1 By End user
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 Insect Technology Group Holdings UK Limited
5.3.2 nextProtein
5.3.3 Protenga
5.3.4 Protix B.V.
5.3.5 Ynsect
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Proteins CEOs
Insect Protein Industry Segmentation
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Insect Protein Market Research FAQs
How big is the Global Insect Protein Market?
The Global Insect Protein Market size is expected to reach USD 49.56 million in 2023 and grow at a CAGR of 3.09% to reach USD 57.70 million by 2028.
What is the current Global Insect Protein Market size?
In 2023, the Global Insect Protein Market size is expected to reach USD 49.56 million.
Who are the key players in Global Insect Protein Market?
Insect Technology Group Holdings UK Limited, nextProtein, Protenga, Protix B.V. and Ynsect are the major companies operating in the Global Insect Protein Market.
Insect Protein Industry Report
Statistics for the 2023 Insect Protein market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Insect Protein analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
