Insect Feed Market Trends, Industry Analysis, and Forecast 2029 | Rising Demand for Protein-Rich Feed to Propel Industry Growth
Companies covered in insect feed market are AgriProtein Nutrition, Diptera Feed, Enterra, Entomo Farms, Intrexon Crop, Hexafly, HiProMine, Innova Feed, Kulish, MealFood Europe, Proti-Farm, Protix, and Others.
Pune, India, July 05, 2022 (GLOBE NEWSWIRE) -- The global insect feed market size is expected to showcase considerable growth in the forthcoming years. This information has been published by Fortune Business Insights™ in its report, titled "Insect Feed Market, 2022-2029." As the population continues to grow, the chances are high that consumption of animal-based food will increase in the foreseeable future. On this note, the Food and Agriculture Organization of the United Nation has predicted that the population of the world will grow around 9 billion by 2050 based on the current growth patterns. In such a situation shifting to insect-based feed from the conventional one seems like a logical step as many domesticated animals already consume insects as a natural part of their diet.
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List of Key Players Profiled in the Market Report:
- AlltechCoppens
- Enterra Feed Corporation
- Ynsect
- Agriprotein
- Enviroflight
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2029 |
| Segments Covered | By Source, By Application, By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | AlltechCoppens, Enterra Feed Corporation, Ynsect, Agriprotein, and Enviroflight |
| Market Scope | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
COVID-19 Impact
Production Continues Amid Lockdown Owing to Consumer Needs
Procuring insects during the pandemic situation was difficult as stringent regulations on traveling created disruptions. The transport of insects to production facilities to manufacture feed was quite disruptive due to these regulations. Although, as an essential commodity, insect feed production facilities were operational during the lockdown and did not face any major losses. Even the demand for products was stable leading to the market experiencing positive growth.
Market Segmentation
The insect feed source is categorized into mealworms, fly larvae, and others. The application is segmented into aquaculture, pig, poultry, and others. The geography of the market is spread across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Market Segmentation:
By Source :
- Meal Worms
- Fly Larvae
- Others (Silkworms, Crickets, and Others)
By Applications:
- Aquaculture
- Pig
- Poultry
- Others (Cattle, Sheep, and Others)
By Geography:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of ME&A)
What Does the Report Contain?
The report contains a concise amalgamation of information required for making strategic business decisions. It has an in-depth analysis cast, opportunities, market size, production cost, consumption pattern, and much more. The various segments of the market categorized by different bases have been studied meticulously and provided for each of them to equip the client with necessary information. The information has been gained through primary and secondary sources to gain authentic inferences. The market projections based on the current consumption pattern provided in the report is also insightful to the stakeholders.
Driving Factor
Rising Adoption of Insect Feed Owing to Natural Diet Patterns of Animals
Insects are a natural part of the diet of many animals such as birds, poultry, fish, and others. As these animals are naturally adapted to consuming insect feed, the introduction of insect proteins in commercial feed is expected to gain momentum. Moreover, insects have bioactive components that improve gut health leading to high demand among animal husbandry companies. Moreover, the growing population, coupled with evolving diet preferences, has increased the demand for animal-based food products. This requires an additional supply of protein-based feed from sustainable sources to keep up with the market demand. The global demand for livestock products is expected to go up to 465 million tons by 2050, according to the Food and Agriculture Organization. These factors are expected to favour the global insect feed market growth in the forthcoming years.
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Regional Insights
North America to Remain at Forefront; Increasing Demand from Poultry Sector to Aid Growth
North America is expected to hold a significant insect feed market share in the forthcoming years. This is particularly due to the growing production of Hawaii insects and rising utilization of the same in the region. These insects are used as feed across the rising poultry sector in countries such as the U.S. and Canada.
Asia-Pacific is anticipated to showcase substantial growth with the increasing demand for the product in countries such as South Korea and China. The increasing population, coupled with lifestyle changes and consumption patterns, have boosted the demand for animal protein.
Competitive Landscape
Significant Investment in R&D by Companies to Strengthen Their Positions
This animal husbandry industry is experiencing heavy investment in research and development to innovate their products and successfully gain market footage. Acquisitions and expansions are some important strategies adopted by companies for marketing and research support.
Key Industry Development:
- June 2019: Ynsect launched its new production facility for mealworms to produce 1500 metric tons of insect protein every month.
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