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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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.
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.
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.
| 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.
| 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.
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.
| 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% |
| 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.
| 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.
| 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.
| 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.
| 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.
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.
The market is estimated to be valued at USD 602.3 million in 2023.
Ynsect, Aspire Food Group, and AgriProtein are key market players.
Caterpillar segment is expected to increase at a CAGR of 21.8% through 2033.
The market is estimated to reach USD 3.1 billion by 2033.
The United Kingdom is projected to emerge as a lucrative market, with a share of 23.6%.
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Insect Protein Market
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