The total worth of the global insect feed market could be around USD 1,561 million in 2023. Over the forecast years from 2023 to 2033, the worldwide demand for insect feed is expected to grow annually at a rate of 17.9%. By the end of 2033, the net worth of the market is projected to reach USD 8,124 million.
Insect Feed Industry Trends
| Report Attributes or Data Points | Details |
|---|---|
| Global Insect Feed Market Share in 2022 | USD 1,319 Million |
| Estimated Global Market Share in 2023 | USD 1,561 Million |
| Forecasted Global Market Size by 2033 | USD 8,124 Million |
| Projected Global Market Growth Rate from 2023 to 2033 | 17.9% CAGR |
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During the historical period from 2018 to 2022, the year-on-year growth in sales of insect feed was recorded at around 16%. By the end of 2022, the net valuation of the market reached about USD 1,319 million.
The aquaculture industry is constantly searching for new food sources, and fish dinners, which are frequently used as aquafeed, are pricey. As the aquaculture industry is anticipated to prosper throughout the predicted period, the demand for insect feed products is poised to rise worldwide.
| Attributes | Details |
|---|---|
| Insect Feed Market Growth (CAGR 2018 to 2022) | 16% |
| Market Size (2022) | USD 1,319 million |
Short-term Analysis: There could be a rise in the use of insect feed due to the need for nutrient-rich food for poultry and the need to support their rapid growth phase.
Mid-term Analysis: Rising non-vegetarian meal demand and higher-quality chicken are expected to boost insect feeding habits across countries.
Long-term Analysis: Market opportunities could be boosted by increased investment from leading enterprises and government initiatives programs.
Principal Consultant
The production of insect feed in the United States is driven by the rising production of insects found in Hawaii and its higher utilization. The United States market is still expected to flourish due to the existence of prominent manufacturers such as JR Unique Foods, Nutritio Technologies, and Endofood.
A significant portion of the insect feed produced in the country is exported to Canada, providing enough opportunity for regional market layers to scale business. In Canada, the use of larvae of insects found in Hawaii was approved in 2016, and its use in aquaculture was approved in 2017.
Germany led the European market by supplying insect feed worth almost USD 90.5 million in 2023. Germany is anticipated to expand moderately throughout the projected timeframe, while the United Kingdom could witness a remarkable growth rate.
The United Kingdom market is also expected to benefit from growing aquaculture production in the country requiring insect feed dosage. Moreover, the changing environmental parameters in the country have reduced the supply of plant-based feeds, indirectly raising emphasis on insect-based animal feeds in the country.
However, over the projection period, Asia Pacific countries like China and India are probably going to have higher growth rates. Japan is a prominent insect feed-producing country in Asia that is expected to generate a revenue of around USD 44 million in 2023.
A large population and rising need for essential nutrients are expected to influence the development of Japan insect feed industry till 2033. Moreover, the production of insect feed for swine and poultry is developing in Japan with the growing demand for nutrient-dense meat.
Given the higher production of meat and aquatic animal-based food items throughout the country, China is currently the leading market for insect feeds in Asia.
The sales of premium-grade insect feed and the growing demand for better, more nutrient-dense food could drive the regional market at a CAGR of 27.2%. Also, some well-known businesses in China, like Wuliang Biotechnology, create and distribute insect feed globally, representing the country's promising growth trend.
Australia is witnessing higher growth trends in animal husbandry and milk production activities these years. In the current year, 2023, the total amount of insect feed to be consumed by this business is estimated to be around USD 30 million. In addition to this, the country has higher investment possibilities and favorable government regulations to establish facilities for the manufacture of insect protein concentrate.
| Regional Market Comparison | Global Market Share in Percentage |
|---|---|
| United States | 31.5% |
| Germany | 5.8% |
| Japan | 2.8% |
| Australia | 1.9% |
| China | 15.8% |
Meal powder, with a revenue contribution of USD 1,074 million, is estimated to hold the greater share of the overall market by product type in 2023. Furthermore, this segment is fueled by the rising demand for mealworm feed for household usage as pet food. Mealworms are anticipated to represent a considerable percentage of the worldwide market as they frequently have wide availability and superior nutritional quality.
Even so, throughout the anticipated time, the demand for feeds of fly larvae insects is expected to rise promisingly in the coming days. Fly larvae are the greatest choice for insect-based pet feed because of their high protein and calcium content, which is also growing in popularity among poultry breeders. Also, the growing abundance of fly larvae is expected to lead to an increase in their usage in the production of insect feed through the forecast years.
| Attributes | Details |
|---|---|
| Top Product Type | Meal Powder |
| Market Share in 2023 | 68.8% |
The revenue generated from the sales of insect feed produced from black soldier flies is estimated to be around USD 663.5 million in 2023. Higher nutrition quantity and easy production of such flies make this segment dominate the overall market in terms of value as well as volume.
| Attributes | Details |
|---|---|
| Top Insect Type | Black Soldier Flies |
| Market Share in 2023 | 42.5% |
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The development of better farm animal feed is the key strategy of market suppliers to boost growth in the upcoming years. A sizeable portion of market players in the insect farming industry are focusing on acquisitions and joint ventures to increase their market share. To illustrate, Protix Inc. and Agrifirm Company worked together in June 2020 to develop many new insect feed ingredients to be used in Protix.
The global market for edible insects for animal feed is seeing significant expenditures from industry participants to boost their production capacity. The study of edible insects for the animal feed market has grown in recent years, which could strengthen sales during the forecast years. On top of that, improving flavor and keeping costs constant is anticipated to drive the market forward.
Hipromine established a collaboration with feeding technology solutions provider WEDA Dammann & Westerkamp GmbH in May 2022. In connection with this project, Weda provides insects to HiProMine, including Black Soldier Fly (BSFL), to help the business improve its pet and animal nutrition products.
In February 2022, Protix Company, an insect farmer that raises proteins for fish, farm animals, and pet food, raised USD 51.4 million. The investment is aimed at future global expansion and ground-breaking research in the insect feed patent landscape.
Trending Companies and Their Developments in the Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million or billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | By Product Type, By Application, By Region |
| Key Companies Profiled | Nextprotein; Buhler AG; Hexafly; Entofood; Diptera Nutrition; Enviroflight; Coppens; Agriprotein; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon request |
The global insect feed market size in 2023 could be around USD 1,561 million.
The global demand for insect feed could grow at 17.9% through 2033.
The global market is predicted to be valued at USD 8,124 million by 2033.
The United States accounts for nearly 31.5% of the revenue share of the global market.
The overall market size in India is nearly 10% of the global market.
China is predicted to witness a higher CAGR in sales of insect feed through 2033.
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 Product Type 5.1. Meal Worms 5.2. Fly Larvae 5.3. Silkworms 5.4. Cicadas 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Aquaculture 6.2. Pig Nutrition 6.3. Poultry Nutrition 6.4. Dairy Nutrition 6.5. Other 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Nextprotein 17.2. Buhler AG 17.3. Hexafly 17.4. Entofood 17.5. Diptera Nutrition 17.6. Enviroflight 17.7. Coppens 17.8. Agriprotein 17.9. Alltech Coppens BV 17.10. Hipromine SA 18. Assumptions & Acronyms Used 19. Research Methodology
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Insect Feed Market
