The global insect-based pet food market is poised to surpass USD 1,341.0 million by 2023, surging at a remarkable CAGR of 10% through 2033 to reach USD 3,448.5 million.
Frozen and freeze-dried pet food demand is on a rising trajectory due to changing lifestyles in different countries.
The perception of consumers towards the health of pets is changing, resulting in the growing demand for frozen and freeze-dried pet foods. Coupled with this, the increasing trend of nuclear families is responsible for the growth in sales of frozen and freeze-dried pet foods.
| Attribute | Details |
|---|---|
| Insect-based Pet Food Market Estimated Value (2023) | USD 1,341.0 million |
| Insect-based Pet Food Market Estimated Value (2033) | USD 3,448.5 million |
| Insect-based Pet Food Market Value CAGR (2022 to 2033) | 10% CAGR |
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As per Future Market Insights (FMI), the global insect-based pet food market grew at a steady CAGR of 6.9% between 2018 and 2022.
The 'buzz' in society surrounding insects has led to the debut of insect-based pet food products in the pet food market, with more in the works. Giving pets complete and balanced food that is appropriate for their species and life stage is the most important component in feeding them.
Rising pet ownership is a significant driver of nondiscretionary and discretionary goods demand, including toys, treats, and other food items.
Pet ownership is higher among millennials, the elderly, and single-person households. The market for insect-based pet food is being driven by the rising adoption of cats and dogs as family companions.
Insect proteins and lipids (fats) can also contribute to healthy, pleasant, and environmentally sustainable goods.
While there are many other types of pet food to pick from, insect-based pet foods are an excellent option for owners who want to feed their pets a diet that isn't based on common livestock species.
As per FMI, the market is predicted to record a CAGR of 10% from 2023 to 2033, reaching USD 3,448.5 million in 2033, up from USD 1,341 million in 2023 as compared to USD 986.2 million in 2018.
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The United States insect-based pet food industry was projected to secure a value share of 35.0% in 2022. As pet owners rise, so is the demand for insect-based pet food. Suppertime is the most enjoyable time for pets, and every pet owner strives to prepare a nutritious, flavorful dinner for their dogs.
Social comfort, security, company, and the aesthetic sense supplied by pet animals are all crucial reasons in persuading them to raise pets, surging the market growth.
Several companies are working on inventing new flavors for their products. Pet foods are mostly made out of wheat grains, corn, and soy, which are blended with animal fats to give them a meaty flavor.
There are just a few pet foods that contain insect proteins on the market, but as people seek a lower-impact, more sustainable, and less expensive source of pet nutrition, the market demand analysis is to be positively influenced.
For instance, in 2020, Scout & Zoe's, a United States-based pet food and treat brand, launched its product line, super fly for Dogs. These are the company's first insect-based products and include a whole-larvae treat, a dry powdered larvae meal topper, and a dried black soldier fly larvae jerky treat.
According to FMI's analysis, China insect-based pet food industry is forecasted to advance at a CAGR of 11.0%. Due to changes in people's lifestyles, pet humanization is on the rise in China. Social networking and the embrace of the Western lifestyle have affected the increase in pet ownership among younger generations in particular.
The majority of people in China who keep pet dogs or cats, according to the National Bureau of Statistics of China (NBS China), are elderly. Around 61% of people aged 65 and up have a pet. Instead of proper babysitting commitments, the elderly choose little, easy-to-care-for pets. These are propelling the country's pet food market, which presents new chances for market players in the market.
The country's urbanization trend has a more substantial impact on pet food sales, particularly insect-based pet food because these products are more convenient and fit for city inhabitants' busy lifestyles. As a result, China's insect-based pet food market is booming, thanks to growing pet nutrition expenses and an expanding pet population.
According to FMI's analysis, Germany and the United Kingdom, markets in these both countries contribute significantly to the European market, where the market in Germany was predicted to get hold of 13% market share, and the market in the United Kingdom is to secure 8% CAGR from 2023 to 2033.
Despite some experts' concerns about the many unknowns related to mass-scale insect farming, insects are already becoming a popular trend in sustainable pet foods in Europe.
Insect farming has several advantages over cattle agriculture, according to a 2017 Dutch review study: it requires less land and water, emits fewer greenhouse gases, and has excellent feed conversion efficiencies.
According to a study published in 2020 by researchers in the United Kingdom and Germany, the effects of pet food are equivalent to an environmental footprint of around twice the United Kingdom's land area. Making pet food emissions around the 60th highest emitting country, or equivalent to total emissions from countries such as Mozambique or the Philippines.
The sustainability in production, climate, and culinary changes is driving the demand for insect-based pet food in Germany and the United Kingdom.
According to FMI's analysis, India insect-based pet food market is projected to move forward at a CAGR of 9.0% from 2023 to 2033. The global insect-based pet food industry has a lot of room for expansion, especially in rising economies like India, which are increasingly becoming opportunity hotbeds for various global markets.
Thanks to a dramatic increase in pet owners, a high rate of population growth, increased disposable incomes, rise in the basic standards of living, emerging markets offer tremendous potential for manufacturers to address pet owners' dietary shifts toward high-value products while catering to local needs and tastes.
Improved Sources to manufacture quality pet food, innovation in processes, and advanced transportation facilities to reach out to international customers are the different factors that aid in reducing the cost of a product, and hence the price of cat food may reduce further in the Indian market.
Geographic expansion is no longer a secondary business strategy for manufacturers in the global insect-based pet food value chain because it opens up a flood of new potential opportunities.
Insect-based pet food companies are employing sophisticated go-to-market methods such as collaborations, partnerships, M&A, and divestitures and focusing on organic growth.
Consumers are more concerned than ever before about the composition of insect-based pet food. As organic foods become more popular for human consumption, more pet owners are looking for pet food with similar attributes. Organic insect-based pet food is expected to register a healthy growth rate, where it is expected to hold a market share of more than 21% in 2022.
Artificial colors, preservatives, tastes, synthetic hormones, toxic pesticides, and antibiotics are all banned in pet food. To capitalize on the current market trend, manufacturers are creating a variety of pet food brands with a wide range of organic products.
According to FMI, the crickets sub-segment was estimated to amass a value share of 28% in 2022 owing to the following reasons:
Growing Popularity: Crickets are experiencing high demand in the insect-based pet food market due to their increasing popularity as a sustainable and nutritious protein source.
Nutritional Profile: Crickets are rich in essential nutrients such as protein, omega-3 fatty acids, vitamins, and minerals, making them a valuable ingredient for pet food formulations.
Environmental Benefits: The cultivation of crickets for pet food requires significantly less land, water, and resources compared to traditional livestock farming, making them an environmentally friendly choice.
Allergy and Sensitivity Considerations: Crickets are hypoallergenic, making them an ideal protein source for pets with food allergies or sensitivities.
Diversification and Innovation: The inclusion of crickets in pet food allows for diversification and innovation, offering unique and novel product options to cater to the evolving preferences of pet owners.
Among pet types, consumption in the dogs segment is expected to register healthy growth, where the segment was expected to hold a market share of more than 56% in 2022.
Dogs are one of the most adopted domestic animals on the planet. They are also regarded as one of the friendliest pets available. They're often referred to as man's best friends as they freely offer their companionship and company to others. The demand for insect-based pet food is increasing in response to the growing dog population.
Dry kibble offers unparalleled convenience to pet owners. Its dry and compact nature makes it easy to store, measure, and serve, allowing for efficient feeding routines. Additionally, dry kibble has a long shelf life, reducing the risk of spoilage and making it a convenient choice for pet owners who prefer to stock up on pet food in bulk.
The cost-effectiveness of dry kibble plays a significant role in its prominence. Compared to other types of pet food, such as wet or raw options, dry kibble tends to be more affordable.
The affordability aspect makes it accessible to a wide range of pet owners, including those on a budget or with multiple pets to feed, contributing to the sub-segment value share of 35% in 2022.
The competitive landscape in the market is dynamic and evolving, characterized by the presence of both established companies and emerging players.
The main reason behind the growing popularity of insect-based pet food is the focus on sustainability. First, in the sense of being able to supply sustainable sources of food, particularly proteins, for pets and humans as world populations and protein demand grow in lockstep.
Insect feces, commonly known as frass, is becoming a viable product for converting to biogas, while insects grown for protein are frequently fed waste by-products from human food and other production streams.
As the concept of a 'carbon pawprint' is tested alongside the carbon footprint of climate-conscious consumers, Mars and Nestle pet food businesses have recently begun marketing dog and cat food containing insect protein.
Prominent Players:
Key Strategies:
The market is valued at USD 1,341.0 million in 2023.
In the historical period 2018 to 2022, the market grew at a CAGR of 6.9%.
The market is estimated to secure a valuation of USD 3,448.5 million in 2033.
Through 2033, the market is projected to continue to expand at a CAGR of 10%.
The China market is expected to strengthen at an 11.0% CAGR.
The market in the United States was expected to hold a value share of 35.0%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 5.1. Organic 5.2. Monoprotein 5.3. Conventional 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Crickets 6.2. Mealworms 6.3. Black Soldier Flies 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 7.1. Kibble/Dry 7.1.1. Extruded 7.1.2. Baked 7.1.3. Coated 7.2. Dehydrated Food 7.3. Treats and Chews 7.4. Freeze-Dried Raw 7.5. Wet Food 7.6. Frozen 7.7. Raw Food 7.8. Powder 7.9. Freeze-Dried Food 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Pet Type 8.1. Cat 8.1.1. Kitten 8.1.2. Senior 8.2. Dog 8.2.1. Puppy 8.2.2. Adult 8.2.3. Senior 8.3. Birds 8.4. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Store-based Retailing 9.1.1. Hypermarkets/Supermarkets 9.1.2. Convenience Stores 9.1.3. Mom and Pop Stores 9.1.4. Pet Stores 9.1.5. Discounters 9.1.6. Independent Grocery Retailers 9.1.7. Drugstores 9.1.8. Other 9.2. Online Retailers 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. MEA 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Innovafeed 18.2. Ynsect 18.3. Protix 18.4. Purina 18.5. Mars Incorporated 18.6. Agri Protein Holdings Ltd 18.7. Enterra 18.8. Entocycle 18.9. Beta Hatch 18.10. Entobel 18.11. Hexafly Biotech 18.12. Next Protein 18.13. Scout & Zoe’s 19. Assumptions & Acronyms Used 20. Research Methodology
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Insect-based Pet Food Market
