NEW YORK, July 3, 2023 /PRNewswire/ -- The insect protein market size is set to grow by USD 1,147.96 million from 2022 to 2027, progressing at a CAGR of 31.84% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing demand for sustainable protein sources is the major factor driving the growth of the global insect protein market growth. The growing environmental awareness of the impacts of conventional animal husbandry is significantly fuelling the demand for substitute protein sources, such as insect proteins. Hence, there is increasing adoption of insect protein as its sustainability benefit appeals to consumers who are environmentally conscious. These factors are expected to drive the global insect protein market during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and a forecast period (2023-2027). Download Sample Report in minutes!
The report on the insect protein market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.
Insect Protein Market 2023-2027 - Market Dynamics
Product diversification and innovation is an emerging trend shaping the global insect protein market growth. Several prominent manufacturers are innovating new products and diversifying their portfolios to cater to a broad audience. Some of the different varieties of products that contain insect proteins are protein powders, protein bars, snacks, baked goods, and pet foods. Furthermore, several prominent vendors are launching new products such as EntoBreed and Ynsect insect-based protein sources for the aquaculture and livestock sectors. Hence such factors are expected to drive the global insect protein market during the forecast period.
Inconsistency in government regulations related to insect proteins is a major factor hindering the growth of the global insect protein market. One of the main reasons that limit the market expansion is the restriction and prohibition of harvesting and processing of insects for human consumption or animal feed in certain areas. For instance, in Europe, the New Food Regulation, which has a long and complex approval process, needs approval before insects can be used as food or feed. Hence, several vendors in the global insect protein market face challenges due to these stringent regulations, which prevent new entrants from entering and thereby hinder the global insect protein market growth during the forecast period.
Insect Protein Market 2023-2027: Market Segmentation
The insect protein market report extensively covers market segmentation by product (Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, and others), application (animal nutrition, food and beverages, and pharmaceutical and supplements), and geography (Europe, North America, APAC, Middle East and Africa, and South America).
The market share growth by the Coleoptera segment will be significant during the forecast period. Factors such as their health benefits, sustainability, and versatility, as well as rising consumer awareness and the expanding food and feed sector, are significantly contributing to the growth of this segment. There is a growing popularity for the Coleoptera segment due to the use of these insect proteins being sustainable and as an alternative source of human proteins. Hence, such factors will drive the growth of this segment which, in turn, will drive the global insect protein market growth during the forecast period.
This report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters- View Sample Report
The insect protein market covers the following areas:
All Things Bugs LLC
Aspire Food Group
Beta Bugs Ltd.
Darling Ingredients Inc.
Global Bugs Asia Co. Ltd.
JR Unique Foods Ltd.
MealFood Europe SL
Protenga Pte. Ltd.
All Things Bugs LLC: The company offers insect protein such as Griopro Cricket powder.
Aspire Food Group: The company offers insect protein for pets, aquaculture, livestock.
Beta Bugs Ltd: The company offers insect proteins such as Hiper-Fly, Just Fly.
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The Protein Bar Market size is estimated to grow at a CAGR of 8.1% between 2022 and 2027. The protein bar market size is forecast to increase by USD 1,920.42 million. This protein bar market report extensively covers market segmentation by product type (medium protein bar, low protein bar, and high protein bar), distribution channel (supermarkets and hypermarkets, convenience stores, drug stores, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Increasing demand for sports nutrition is the key factor driving the growth of the market.
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Insect Protein Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 31.84%
Market growth 2023-2027
USD 1147.96 million
YoY growth 2022-2023(%)
Europe, North America, APAC, Middle East and Africa, and South America
Performing market contribution
Europe at 33%
US, China, South Korea, UK, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
All Things Bugs LLC, Aspire Food Group, Beta Bugs Ltd., Beta Hatch, Bioflytech, Chapul LLC, Darling Ingredients Inc., Entomo Farms, Global Bugs Asia Co. Ltd., Goterra, HEXAFLY, HiProMine S.A., Innovafeed SAS, JR Unique Foods Ltd., MealFood Europe SL, nextProtein SA, Nutrition Technologies, Protenga Pte. Ltd., Protix BV, and Ynsect SAS
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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Key Topics Covered:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global insect protein market 2017 - 2021
4.2 Product Segment Analysis 2017 - 2021
4.3 Application Segment Analysis 2017 - 2021
4.4 Geography Segment Analysis 2017 - 2021
4.5 Country Segment Analysis 2017 - 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Product
6.1 Market segments
6.2 Comparison by Product
6.3 Coleoptera - Market size and forecast 2022-2027
6.4 Lepidoptera - Market size and forecast 2022-2027
6.5 Hymenoptera - Market size and forecast 2022-2027
6.6 Orthoptera - Market size and forecast 2022-2027
6.7 Others - Market size and forecast 2022-2027
6.8 Market opportunity by Product
7 Market Segmentation by Application
7.1 Market segments
7.2 Comparison by Application
7.3 Animal nutrition - Market size and forecast 2022-2027
7.4 Food and beverages - Market size and forecast 2022-2027
7.5 Pharmaceutical and supplements - Market size and forecast 2022-2027
7.6 Market opportunity by Application
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 Europe - Market size and forecast 2022-2027
9.4 North America - Market size and forecast 2022-2027
9.5 APAC - Market size and forecast 2022-2027
9.6 Middle East and Africa - Market size and forecast 2022-2027
9.7 South America - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 UK - Market size and forecast 2022-2027
9.11 South Korea - Market size and forecast 2022-2027
9.12 Germany - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 All Things Bugs LLC
12.4 Aspire Food Group
12.5 Beta Bugs Ltd.
12.6 Beta Hatch
12.7 Chapul LLC
12.8 Darling Ingredients Inc.
12.9 Entomo Farms
12.10 Global Bugs Asia Co. Ltd.
12.13 Innovafeed SAS
12.14 nextProtein SA
12.15 Nutrition Technologies
12.16 Protix BV
12.17 Ynsect SAS
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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