Regardless of a company’s size or income, the most recent research report from Quadintel offers a thorough analysis of the global Insect Protein Market for the years 2023–2030.
The global market report provides statistics and information on the evolution of the investment structure, technological advancements, industry trends and developments, market players’ capabilities, and in-depth details on the major market players. The analysis also includes a summary of the global market strategies that have been implemented in light of the industry’s present and future conditions.
An overview of the Insect Protein Market, the current state of the industry, market trends, significant market participants, product type, application, and geography are provided at the beginning of the study. It also covers how COVID-19 has affected market participants, end-user industries, future predictions, growth potential, and worldwide market trends.
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Market Overview:
Global Insect Protein Market is valued at approximately USD 0.50 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 34.0% over the forecast period 2022-2029.
Insect protein has a significant potential to help solve world hunger given the increased demand for food commodities that comes along with a growing global population. Insect protein has several applications, including the production of food and drink, cosmetics, and personal care products. Due to growing worries about the global food issue, insects are also being researched as a potential source of human food and animal feed in western countries.. The Insect Protein market is expanding because of factors such as increasing investments in R&D and start-ups, increasing demand for alternate protien. However, unacceptance of Insect-based Proteins by consumers may halt market growth.
Various market players in insect protein market are taking strategic moves to expand their company share. New product releases, alliances, and acquisitions are a few of the crucial tactics used by market actors. For example, in March 2022, Global Bugs and Smart Vet Group formed a collaboration to concentrate on developing and manufacturing pet food and supplemental items for animals that contain whole roasted crickets and cricket powder. In conjunction with Pure Simple True LLC, , an insect protein company introduced Bernie’s, an ultra-premium and luxury brand for dog food, to the US market in November 202. Furthermore, collaborations of Insect Protein-based Product Manufacturers with Retailers and opportunities for Food Equipment Manufacturers in Insect Rearing are creating new opportunities for the market. However, the high cost of Insect Protein stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Insect Protein Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Among these regions, Europe holds the highest share owing to factors such as high penetration of consumer acceptance for the consumption and use of insect protein such as in food and beverage industry, animal nutrition, and personal care industry is creating a lucrative demand in the region.
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Major market players included in this report are:
- InnovaFeed
- EnviroFlight
- Ynsect
- Hexafly
- Protix
- Aspire Food Group
- Chapul
- Nutrition Technologies
- Entomo Farms
- Goerra
The detailed segments and sub-segment of the market are explained below:
By Insect Type:
Crickets
Black Soldier Flies
Mealworms
Grasshoppers
Ants
Other Insects
By Application:
Food & Beverages
Animal Nutrition
Pharmaceuticals & Cosmetics
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By Distribution Channel:
Offline
Online
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
Rest of the World
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Report Include:
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
Key Market Features in Global Market: The report assessed key market features, including revenue, capacity, price, capacity utilization rate, production rate, gross, production, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. The study also offers a thorough analysis of the most important market factors and their most recent developments, as well as pertinent market segments and sub-segments.
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the market opportunities, market risk, and market overview of this industry?
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