Insect-based Protein Market Is Set To Reach USD Million  By 2032, Growing At A CAGR Of 9.23

Key Insights

The Insect-based Protein Market size was valued at USD 153.92 USD Million in 2023 and is projected to reach USD 285.55 USD Million by 2032, exhibiting a CAGR of 9.23 % during the forecast period Insect proteins are high-quality feedstock obtained from insects that can be used as an ingredient for feed for animals, pets, and fish. They are a new food and feed source, and an effort to move away from the traditional sources of proteins like meat and soy. Insects are rich in amino acids, vitamins, minerals, and other nutrients, making them a highly nutritious food source. Edible insects are considered one most interesting protein sources of a large proportion of food insecurity. It contains nutrients like zinc, amino acids, and vitamins. Insect protein is used in human food, pet food, fish feed, and animal feed. There is the nutritional content of insects depends on their species' diet, and stage of the life cycle. Insects pro-high-quality protein and nutrients for humans and animals comparable with those provided by meat and fish They are also rich in fibre and micronutrients such as copper, copper, iron and magnesium.  Edible insects exhibit many sustainability and nutritional advantages compared to conventional animal protein sources.

Insect-based Protein Trends

• Rising popularity of insect-based flours and powders as alternative protein sources
• Increasing adoption of insect-based pet food due to its high protein and nutrient content
• Growing use of insect-based proteins in food and beverage applications

Driving Forces: What's Propelling the Insect-based Protein Market

• Environmental concerns over traditional protein sources (e.g., livestock farming)
• Increasing prevalence of food allergies and intolerances
• Growing demand for healthier and more sustainable food options
• Government initiatives to promote insect-based protein consumption

Challenges and Restraints in Insect-based Protein Market

• Cultural barriers and consumer reluctance to consume insects
• Lack of standardized regulations and safety guidelines
• Challenges in upscaling production and maintaining quality control

Emerging Trends in Insect-based Protein

• Development of novel insect-based protein extraction techniques
• Innovations in insect farming and breeding to improve yield and efficiency
• Partnerships between food companies and insect protein suppliers

Growth Catalysts in Insect-based Protein Industry

• Increasing investments in insect protein startups and research and development
• Collaborations between researchers, industry players, and government agencies
• Growing consumer education and awareness about the benefits of insect-based proteins

Market Segmentation: Insect-based Protein Analysis

Product Type:

• Coleoptera
• Lepidoptera
• Hymenoptera
• Orthoptera
• Others

Application:

• Food and beverages
• Animal feed
• Dietary supplements

Leading Players in the Insect-based Protein Market

• Aspire Food Group (Texas)
• Ynsect NL Nutrition & Health B.V. (France)
• EntomoFarms (France)
• Chapul Cricket Protein (United States)
• Jimini's (United States)
• EnviroFlight LLC (United States)
• Innovafeed (France)​ 
• Next Protein Inc. (France)​ (
• AgriProtein Holdings Ltd (England)​ 
• Swarm Nutrition GmbH (Germany)​

Significant Developments in Insect-based Protein Sector

• In 2023, Protix secured USD 60 million in Series C funding to bolster its insect protein production.
• In 2022, Aspire Food Group secured USD 60 million in Series B funding to expand its production and distribution capacity.
• In 2021, Ynsect opened a new production facility in France, increasing its annual production capacity to 100,000 tons of insect protein.
• In 2020, the European Food Safety Authority (EFSA) approved the commercialization of insect-based food products in the European Union.

Comprehensive Coverage Insect-based Protein Market Report

• Market analysis by product type, application, and region
• Historical data, current trends, and future projections
• Profiles of leading companies and their strategies
• SWOT analysis and Porter's Five Forces analysis
• PEST analysis and DROCs (Drivers, Restraints, Opportunities, Challenges)

Regional Insight

• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy)
• Asia-Pacific (China, India, Japan)
• Latin America (Brazil, Mexico)
• Middle East and Africa (UAE, Saudi Arabia, South Africa)

Consumer Side Analysis

• Consumer attitudes and perceptions towards insect-based proteins
• Market segmentation based on demographics, lifestyle, and dietary preferences

DROCs

Drivers:

• Escalating sustainability concerns
• растущий demande for alternative protein sources
• Government support and incentives
• Increasing adoption in pet food and aquaculture

Restraints:

• Cultural barriers and consumer reluctance
• Regulatory challenges and safety concerns
• Technical limitations in production and processing
• Limited availability of cost-effective production methods

Opportunities:

• Innovations in production and extraction techniques
• Partnerships and collaborations between stakeholders
• Growing consumer awareness and education
• Diversification into new applications such as cosmetics

Challenges:

• Scaling up production and maintaining quality control
• Addressing consumer perceptions and biases
• Competing with traditional protein sources
• Ensuring ethical and sustainable sourcing practices