Insect Protein Market Outlook (2023 to 2033)

The insect protein market is anticipated to grow from a 2023 value of USD 602.3 million to a 2033 value at a CAGR of 17.7%. The global market is expected to be worth USD 3.1 billion by 2033.

The key brands of insect protein found by the FMI study are Aspire Food Group, EntomoFarms, Swarm Nutrition, Chapul Cricket Protein, GmbH, InnovaFeed SAS, AgriProtien Holdings Ltd., EnviroFlight LLC, Protix, SAS Ynsect, and Hexafly Company.

Due to the growing demand for protein substitutes among food and beverage manufacturers to satisfy expanding customer demand, the use of insect protein has been rising in the food and beverage industry. Due to the high rate of population increase and rising demand for animal products like milk, eggs, and meat, environmental sustainability is becoming an issue.

Around 2,000 insect species are already eaten regularly by people and domestic animals worldwide due to their high protein content, healthy fats, minerals, and vitamins.

A range of products, including protein bars, snacks, whey protein, mealworm cookies, cricket pasta, honey caterpillar croquettes, mixed insect nibbles, and chocolates based on insects have been created by food manufacturers as a result of this market opportunity.

Attributes Details
Insect Protein Market CAGR (From 2023 to 2033) 17.7%
Insect Protein Market Size (2022) USD 510.4 million
Insect Protein Market Size (2023) USD 602.3 million
Insect Protein Market Size (2033) USD 3.1 billion
Global Market Absolute Dollar Growth (USD million/billion) USD 2.5 billion

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New changes that have occurred in these markets include

  • With February 2021, Aspire Food Group and its partners won money from Next Generation Manufacturing (NGen) to assist in the establishment of a facility that is anticipated to produce cricket protein in Canada. The amount provided was USD 13.2 million.
  • In order to increase the production of insect protein from black army flies, EnviroFlight LLC constructed its first industrial production plant in Kentucky, United States, in January 2021. This unusual industrial plant cost about 32 million USD to build.
  • In November 2021, Innova Feed formed a cooperation with Archer Daniels Midland Company, a significant agricultural conglomerate. The cooperation was established to expand its insect protein business by constructing a new plant in Illinois, United States, with a target capacity of 60,000 tonnes of insect protein per year.
  • By constructing a new research and development facility and project management office (PMO) in Singapore in December 2021, AgriProtein increased its presence in the Asia Pacific area. InnovaFeed and Cargill (USA) collaborated to create brand-new, cutting-edge fish feed products for sustainable aquaculture in June 2021.

The improvement in end-user demand in significant economies and their rising populations is attributed as the main factors of this difference in growth rate over the first half of the projected timeframe. In particular, the demand for insect protein is rising due to changing consumer habits in the United States and China.

Numerous additional market segments are expected to perform decently and reach appealing development opportunities in the second half of the projected timeframe.

Despite these encouraging advances, the company is still anticipated to confront critical challenges, including changing consumer preferences, stringent trade restrictions, and an unreliable supply of raw materials and other industrial inputs.

Insect Protein Market to Experience Incredible Growth

Due to the exceptional solubility of protein and minerals in edible insects like beetles and caterpillars, the Market is anticipated to reach USD 602.3 million in 2023. Manufacturers of insect protein are profiting from growing environmental and health concerns about eating traditional animal protein sources.

The market is expected to register a 17.7% CAGR from 2023 to 2033. This growth could be attributed to the technology's quick adoption by businesses and consumers.

Cost savings, production effectiveness, and the nutritional value provided by insects are the main factors driving growth in the market.

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Medical Benefits Promote Market Growth Prospects for Insect Protein

Crickets have 69% more protein than beef, which has only 29%. The difference in nutritional content between insect protein and conventional protein powder is a key trend driving this sector. Regarding production, insect farming for protein extraction requires 8 to 10 times less land, up to 5 times less water, and produces 6 to 12 times fewer greenhouse gases.

Furthermore, businesses are looking for alternatives due to growing public awareness of animal agriculture's drawbacks. Insects include a variety of essential fatty acids, vitamins, minerals, and amino acids. Due to its advantages in medicine and industry, manufacturers and consumers adopt insect protein widely.

Segmentation Outlook

Caterpillars are a Great Source of Insect Protein

Attributes Details
Top Insect Type Caterpillars
CAGR % 2017 to 2022 18.1%
CAGR % 2023 to End of Forecast (2033) 21.8%

Caterpillars hold more than 25% of the market and are expected to increase at a CAGR of 21.8% from 2023 to 2033. These categories are expanding because of these edible insects' dietary advantages and widespread availability.

The most lucrative bug species include grasshoppers, crickets, and locusts, which have all got high double-digit CAGRs. To make infant food and animal feed for fish and fowl, scientists are employing locusts and grasshoppers. With the help of this section, manufacturers are anticipated to be able to diversify their product offerings and get an edge over rivals by becoming early adopters.

Crickets are expected to account for the majority of the insect protein market share. Crickets' expansion is due to the increased incorporation of crickets into various recipes and products, crickets' high nutritional value and ease of farming and processing, and rising demand for cricket-based food products such as protein powders, protein bars, and snacks.

Insect Protein’s Powder Segment to Grow at a Considerable CAGR

Attributes Details
Top Form Powder
CAGR % 2017 to 2022 14.6%
CAGR % 2023 to End of Forecast (2033) 15.4%

The form segment's powder sub-segment is anticipated to record a CAGR of 15.4% from 2023 to 2033. Previously, between 2017 and 2022, the powder segment of the market experienced growth of 14.6% HCAGR.

Growing health and wellness trends, an increase in health clubs and fitness centers that offer insect powder, the emergence of several start-ups that make insect protein bars and shakes, and busy lifestyles that call for highly nourishing & practical foods like insect powder are the key factors influencing the market growth.

The food and beverage industries' quick and widespread acceptance of various insect protein substitutes to meet customers' increasing demand is paving the way for developments and expansion in the global insect protein market in the upcoming years.

Animal Nutrition may Continue to have a Strong Need for the Market

Demand for insect protein is being driven by the variety of uses it has in animal nutrition. It serves as a food source for aquatic creatures, pets, and poultry animals. Its widespread acceptability has accelerated the spread of insect protein into other industries, including the food and beverage sectors.

Food and beverage manufacturers are looking for alternatives to environmentally sustainable protein sources amid growing global concerns about the effects of conventional animal agriculture. Manufacturers must move swiftly and develop comprehensive strategies to capitalize on this opportunity.

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Regional Outlook

Country United States
HCAGR (From 2017 to 2022) 21.1%
CAGR (From 2023 to 2033) 20.6%
Country United Kingdom
HCAGR (From 2017 to 2022) 22.7%
CAGR (From 2023 to 2033) 23.6%
Country China
HCAGR (From 2017 to 2022) 11.3%
CAGR (From 2023 to 2033) 11.9%
Country Japan
HCAGR (From 2017 to 2022) 9.2%
CAGR (From 2023 to 2033) 9.5%
Country South Korea
HCAGR (From 2017 to 2022) 10.5%
CAGR (From 2023 to 2033) 9.8%

Customers are Growing Health Conscious Leading United States Industry to Expand Swiftly.

Attributes Details
United States Insect Protein Market Size (USD million/ billion) by the end of Forecast Period (2033) USD 1.1 billion
United States Insect Protein Market Absolute Dollar Growth (USD million/ billion) USD 954.9 million

The rising demand for protein-rich foods that are kind to the environment is what is driving up the price of insect protein foods in the United States.

The main reasons for the growing acceptability of insect proteins in the United States also include an increasing acquaintance with insects as food, a decline in food neophobia, and a change in views toward insects both generally and as food.

Animal feed uses insect protein extensively. As customers are becoming more health conscious, the market for human consumption is anticipated to increase rapidly. In the United States, the market for feed products containing insect-based proteins is rising.

Is the United Kingdom a Profitable Market Supplier?

Attributes Details
United Kingdom Insect Protein Market Size (USD million/ billion) by the end of Forecast Period (2033) USD 300.8 million
United Kingdom Insect Protein Market Absolute Dollar Growth (USD million/ billion) USD 264.6 million

The United Kingdom is expected to register a CAGR of 23.6% during the projection period. Consumer acceptance of insect protein is stronger in the United Kingdom market for uses such as food and beverage production, animal nutrition, and personal care products.

The demand in the United Kingdom market is anticipated to increase in response to the recent approval of insect protein for feed, including poultry and pig. Over the projected period, the market is anticipated to be driven by the high demand for insect protein.

Why are Insect Protein Sales Rising in China?

Attributes Details
China Insect Protein Market Size (USD million/ billion) by the end of Forecast Period (2033) USD 129.0 million
China Insect Protein Market Absolute Dollar Growth (USD million/ billion) USD 86.9 million

The China market may expand significantly throughout the forecast period, with a CAGR of 11.9%. By 2033, the Chinese market is valued at USD 129.0 million.

China is predicted to grow at a rapid rate due to increasing exports and domestic demand for insect-based protein components. China is one of the main economies for insect-based protein because raw materials are so easily available there.

Over the coming years, demand for insect-based protein in emerging nations is also projected to increase due to expansion in the pharmaceutical and food and beverage industries.

How is the Market Progressing in Japan?

Attributes Details
Japan Insect Protein Market Size (USD million/ billion) by the end of Forecast Period (2033) USD 61.7 million
Japan Insect Protein Market Absolute Dollar Growth (USD million/ billion) USD 36.7 million

Japan is expected to register a CAGR of 9.5% over the course of the projection period as a result of its rising customer base. From 2017 through 2022, the Japanese market recorded at an HCAGR of 9.2%. By 2033, the Japanese market to be worth USD 61.7 million.

The nations like Thailand and Indonesia are among the key producers of insects used as raw materials and have a long history of insect consumption. Over the projected period, it is anticipated that the presence of developing nations is anticipated to fuel demand for nutrient-dense food products.

What Prospects are Deciding the Future of Insect Protein Providers in South Korea?

Attributes Details
South Korea Insect Protein Market Size (USD million/ billion) by the end of Forecast Period (2033) USD 35.5 million
South Korea Insect Protein Market Absolute Dollar Growth (USD million/ billion) USD 21.5 million

Edible insects are now receiving a lot more attention as a result of the food and agriculture organizations (FAO) efforts to promote them as suitable dietary options for people. The South Korean market especially those intended for human consumption has grown significantly thanks to government financing and fruitful research projects.

A further development is the creation of insect-based ingredients rather than final food products retaining their natural appearance due to increased accessibility to edible insects.

Consumers' ever-changing needs are currently more heavily weighted toward health and wellness. Due to busy lifestyles, increased urbanization, and rising health awareness, consumers in South Korea are shifting their food habits.

Insect protein makes use of the entire insect, which offers the many health advantages that each portion of the bug has to offer. South Korean consumers, particularly those in the millennial generation, are heavily focused on health and wellness and are looking for dietary supplements. Over the upcoming years, it is anticipated that demand for edible insects would soar throughout South Korea, driving up shipments of insect protein.

How Competition Influences the Insect Protein Market? 

The Market Trends that Companies are following:

Rising costs and the availability of items made with insect protein have been significant problems for companies. Insect-based protein products have been the main focus of several startups' internet sales.

To increase awareness of the advantages of insect protein and to increase the exposure of products containing insect protein, many businesses have started collaborating with large retailers and other convenience stores.

Recent Development:

Collaboration between Eat Grub and SOK:

Together with SOK, a big supermarket chain in Finland, the United Kingdom-based Eat Grub company, a leading producer of insect protein, is working on new products.

AgriProtein acquired Millibeter N.V.:

In 2018, AgriProtein acquired Millibeter N.V., to assist AgriProtein in establishing its first facility in Belgium. Moreover, the acquisition increased the company's market share in Europe.

InviroFlight LLC:

The business established its first United States manufacturing plant and plans to expand its capacity to extract insect proteins from Black army flies.

Key Players

  • EntomoFarms
  • Aspire Food Group
  • Chapul Cricket Protein
  • Swarm Nutrition
  • AgriProtien Holdings Ltd.
Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Analysis 2017 to 2022 and Forecast, 2023 to 2033
  • 5. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Form
    • 5.1. Whole Insect
    • 5.2. Powder
  • 6. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Insect Type
    • 6.1. Beetles
    • 6.2. Caterpillars
    • 6.3. Bees, Wasps, & Ants
    • 6.4. Grasshoppers, Locusts, & Crickets
    • 6.5. Others
  • 7. Global Analysis 2017-2022 and Forecast 2023 to 2033, By Application
    • 7.1. Food & Beverages
    • 7.2. Pharmaceuticals & Cosmetics
    • 7.3. Animal Nutrition
      • 7.3.1. Aquafeed
      • 7.3.2. Pet Food
      • 7.3.3. Poultry Feed
  • 8. Global Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Europe
    • 8.4. East Asia
    • 8.5. South Asia
    • 8.6. Oceania
    • 8.7. Middle East & Africa (MEA)
  • 9. North America Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 10. Latin America Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 11. Europe Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 12. East Asia Analysis 2017-2022 and Forecast 2023 to 2033, By Country
  • 13. South Asia Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 14. Oceania Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 15. MEA Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 16. Key Countries Analysis
  • 17. Market Structure Analysis
  • 18. Competition Analysis
    • 18.1. EntomoFarms
    • 18.2. Aspire Food Group
    • 18.3. Chapul Cricket Protein
    • 18.4. Swarm Nutrition
    • 18.5. AgriProtein Holdings Ltd.
    • 18.6. InnovaFeed SAS
    • 18.7. Protix
    • 18.8. SAS Ynsect
    • 18.9. EnviroFlight LLC
    • 18.10. Hexafly Company
  • 19. Assumptions & Acronyms Used
  • 20. Research Methodology

Key Segments

Insect Type:

  • Beetles
  • Caterpillars
  • Bees, Wasps, and Ants
  • Grasshoppers, Locusts, and Crickets
  • Others

Form:

  • Whole Insect
  • Powder

Application:

  • Food & Beverages
    • Animal Nutrition
    • Aquafeed
    • Pet Food
    • Poultry Feed
  • Pharmaceuticals & Cosmetics

Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa (MEA)

Frequently Asked Questions

How Big is the Insect Protein Market?

The market is estimated to be valued at USD 602.3 million in 2023.

Who are the Key Insect Protein Market Players?

Ynsect, Aspire Food Group, and AgriProtein are key market players.

Which Insect Type is Propelling the Market Expansion?

Caterpillar segment is expected to increase at a CAGR of 21.8% through 2033.

How Big Will the Insect Protein Market by 2033?

The market is estimated to reach USD 3.1 billion by 2033.

Which Country Holds High Lucrativeness in Insect Protein Market?

The United Kingdom is projected to emerge as a lucrative market, with a share of 23.6%.

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