Rising demand for meat, eggs, and seafood boosts US insect food market share during forecast period.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, September 25, 2023 /EINPresswire.com/ -- The insect feed market valuation is US$ 2.6 Billion in 2023 and to be US$ 17.4 Billion by 2033. The Sales of insect feed grow at a CAGR of 20.9% during the forecast period.

The rising demand for high-nutrient feed increases the adoption of insect feed. The increasing demand for healthy protein for livestock is mushrooming the market expansion. The rising popularity of bug feed, fishmeal, and soya meal for farm animals is accelerating the demand for insect feed. The increasing adoption of insect feed among end-user sectors such as animal husbandry, zoos, and the commercial animal industry propels market growth.

The manufacturers, market vendors, and top companies are investing a maximum amount to gain quick profits and are increasing market growth. The rising demand for fish and poultry farming propel the market size during the forecast period. The rising consumption of insect feed improves the shelf life of chickens to perform better production. In addition, rising investment and government initiative policies boost insect feed market opportunities.

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China leads the global market by capturing maximum revenue during the forecast period. The rising demand for eggs, meat, and poultry is increasing the adoption of insect feed during the forecast period. The growing population of non-vegetarian and end-use sectors is surging the demand for insect feed in China. Moreover, increasing production and awareness and presenting top vendors uplift the market share. Various top companies develop high-quality insect feed and export them, advancing the China insect feed market.

Key Takeaways from the Insect Feed Market

With a CAGR of 16%, the market significantly uplifted in the historic period.

The insect feed market valuation is expected at US$ 4 Billion by 2033.

The aquaculture category is expected to grow at a CAGR of 18.4% over the projection period.

With a CAGR of 9%, the global market is increasing during the forecast period.

The market in the United States is anticipated to grow at a CAGR of 18.4% through 2033.

With a CAGR of 27.2%, the China market significantly uplifts during the forecast period.

The Indian market is expected to grow at a CAGR of 24.1% over the forecast period.

During the forecast period, mealworms are predicted to dominate the global insect feed industry.

Who is Winning?

The vendors are promoting their products by making strategies and launching new products. The market players focus on research and development activities to develop the best insect feed products. These players provide excess protein insect feed for healthy meals. This nutrition contains essential amino acids to make better taste to the farm animals.

Other essential Players in the market are:

Nextprotein
Buhler AG
Hexafly
Entofood
Diptera Nutrition
Enviroflight
Coppens
Agriprotein
Others

Recent Developments in the Insect Feed Market:

Thai Union Group- In March 2021, the company launched insect protein products in Thailand, fuelling the market with 6 million dollars of investment in setting up a brand-named Flying Spark. The company claims to offer an alternative protein supplement with high-quality procedures.
Protix BV- In March 2021, the company announced that it is being funded by Rabo Corporate as a shareholder, claiming to improve its capacity of insect protein in the Netherlands.

Insectta Pte Ltd- In May 2021, the company announced that it received funding from Trendlines Group Ltd. It will help the company to improve its technology for extracting biomaterials from insects.

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Insect Feed Market by Category

By Product Type:

Meal Worms
Fly Larvae
Silkworms
Cicadas
Others

By Application:

Aquaculture
Pig Nutrition
Poultry Nutrition
Diary Nutrition
Other

By Region:

North America
Latin America
Europe
South Asia & Pacific
East Asia
Middle East & Africa (MEA)

Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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About Future Market Insights (FMI)

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