Report Ocean introduces a fresh report examining the Global Insect Feed Market, encompassing its size, share, growth, industry trends, and forecast up to 2032. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
Obtain a comprehensive report on the Global Insect Feed Market, which includes a full table of contents, over 200 tables and figures, and charts. The report provides precise information on the market before and after the COVID-19 outbreak, segmented by region.
Global Insect Feed Market is valued at approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than 11.7% over the forecast period 2022-2029.
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Insect Feeds are meals for animals which are enriched with high protein and nutrients. The Insect Feed market is expanding because of factors such as rising demand for farmed fish and fish oil as well as increase in production capacity. This market is dominated by Alltech Coppens, Protix, Ynsect, Enviroflight and Loopworm.
Fish Farmers have become more efficient by breeding fishes that are omnivorous such as tilapia and using feeds containing soybeans and other grains. Today, salmon diets typically consist of less than 10% fishmeal. About 80% less forage fish is used per pound of production than it was 15 years ago. It could be much lower, says Rick Burroughs, who has been developing fish food for the past 30 years at the U.S. Department of Agriculture’s Bozeman, Montana lab. “Fish don’t need fishmeal,” says Burroughs. “They need nourishment” for which insect feed is very helpful. With the increasing demand of seafood has already caused overfishing of many marine fish stocks and almost half of all seafood now comes from aquaculture. Most of the growth is happening in Asia where it has 90% of the farms. China, the world leader, imports additional fish to make fish oil, fish feed and other products. Furthermore, the advancement in technology is expected to increase the opportunity in the forecated years. However, the stringent rules and regulations for new insect feed stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Insect Feed Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of branded products. In June 2021, Chile’s venture capital firm KeyyakVenture invested $4.5 million in an insect food startup named Food for the Future (F4F). As a result, the increased investment by these VC firms demonstrates their belief in expanding this market. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising target populations, an increase in the number of collaborations for development, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market players included in this report are:
Loopworm Private Limited
Alltech Coppens B.V.
Protix
InnovaFeed SAS
Nasekomo
Ynsect
Hipromine S.A.
nextProtein
EnviroFlight LLC
Hexafly
Recent Developments in the Market:
In 2022, insect breeder Protix, which produces protein for fish, livestock, and pet feed, has raised 50 million for further international expansion and groundbreaking research and development.
In February 2021, Innovafeed, together with Auchan, expanded its insect-fed pet food line by introducing insect-fed pork fed with insect oil to reduce its carbon footprint while focusing on sustainability.
In May 2022, Hipromine declared a partnership with WEDA Dammann & Westerkamp GmbH, a provider of feeding technology solutions. As part of this effort, Weda supplies his HiProMine with insects, including Black Soldier Fly (BSFL), to support the development of the company’s pet and animal food products.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Animal Type:
Aquaculture
Poultry
Swine
Other Animal Types
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Reliable Projections: Rely on the report’s dependable forecasts and projections, which are underpinned by rigorous research methodologies, insights into industry expenditures, and assessments of market expansion rates. These foresights empower businesses to make well-informed decisions and chart out effective strategies for the times ahead.
In-depth Competition Analysis: Equip yourself with an extensive evaluation of key market players, their array of products, and the strategies they employ. This comprehensive understanding arms businesses with the knowledge needed to not only comprehend their rivals but also to craft strategies that position them ahead in the dynamic market arena.
Clear Market Scope and Segmentation: Gain clarity on the broad expanse of the market through the report’s clear delineation of market scope. With detailed insights into diverse market segments and their growth potential, businesses can discern and capitalize on opportunities that align with their objectives.
Insightful Regional Examination: Assess the market’s performance across different regions, enabling enterprises to pinpoint lucrative markets and tailor their approaches accordingly. With region-specific insights, businesses can adapt strategies that resonate with the unique dynamics of each area.
Evaluation of Industry Technology: Grasp the pulse of technological progress within the Insect Feed market. The report dissects cutting-edge advancements and trends, providing businesses with a window into emerging technologies that have the potential to reshape the industry.
Dynamics of Supply and Demand: Acquire a profound comprehension of supply-demand dynamics. This understanding empowers businesses to optimize production, distribution, and inventory management processes, resulting in enhanced operational efficiency.
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Unveiling Long-Term Growth Avenues: Through the scrutiny of trends and growth stimulants, the report illuminates the enduring opportunities the Insect Feed market holds. By identifying these sustainable growth prospects, businesses are poised to set a course for lasting success.
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