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Animal Feed Insect Proteins Market size to surpass USD 870 million by 2030

  • Published Date: October 3, 2022

Animal Feed Insect Proteins Market size is anticipated to cross USD 870 million in revenue by 2030, as per a new research report announced by Global Market Insights Inc.

The report identifies the low environmental impact and high nutrition content of insect proteins as the chief drivers of the animal feed insect proteins industry. For instance, cricket protein is bio-available, produces low emissions during the production process, and provides around 58-65% of dry matter-based protein. Similarly, according to the FAO (Food & Agriculture Organization), grasshoppers and locusts are good sources of unsaturated fats that lower the risk of heart diseases.

Benefits of mass production to increase mealworms industry share

With respect to insect type, the study classifies the animal feed insect proteins market into black soldier fly, caterpillars, crickets, mealworms, beetles, grasshopper, locusts, housefly, bees, wasps & ants, scale insects & true bugs, and others. The mealworms segment is expected to grow at a CAGR of more than 8% through the review time period. Mealworms are beneficial for mass production due to their small size, simpler handling, and lower feed requirements, which makes it easier for mealworms to produce more protein for animal feed. Additionally, mealworms aid manufacturers in reducing the cost of production, which is slated to fuel segmental progress in the coming years.

Growing processed food consumption to augment poultry application segment growth

The deployment of insect proteins in the poultry feed sector is set to remain high in the coming years. Animal feed insect proteins market from the poultry feed application segment was worth more than USD 220 million in 2021 and is poised to grow at a steady pace over the analysis timespan. Soaring demand for poultry meat in the food & beverage industry and surging uptake of packaged and processed meat are primed to push product adoption. The segment growth is further expected to be driven by significant development in food processing technologies.

Browse key industry insights spread across 200 pages with 240 market data tables and 9 figures & charts from the report, “Animal Feed Insect Proteins Market Size By Insect Type (Black Soldier Fly, Housefly, Crickets, Mealworms, Beetles, Caterpillars, Grasshopper, Locusts, Bees, Wasps & Ants, Scale Insects & True Bugs), By Livestock (Poultry {Broiler, Layer, Turkey}, Aquaculture {Salmon, Trout, Shrimp}, Swine {Starter, Grower, Sow}, Pet Food {Dogs, Cats, Birds, Fish}), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

Middle East & Africa emerges as a prominent revenue pocket

Middle East and Africa animal feed insect proteins market is speculated to witness prominent growth at over 8% CAGR through the assessment period. The region may emerge as a major hub for this industry owing to the expanding aquaculture insect protein market backed by mounting consumption of fish and fish products, mass production, and limited resources for marine feed in the MEA region. Additionally, producers are investing massively in the aquaculture industry, thereby propelling the regional market statistics.

Product portfolio diversification to remain a key growth strategy

Competitive landscape of the animal feed insect proteins industry is primed to witness a series of product expansion launches, and growth strategies, including acquisitions, mergers, and collaborations, by industry players.

Some of the key players operating in the animal feed insect proteins market profiled in the report include INSECTIFii, Celitron Medical Technologies Kft, Bentoli, Ynsect SAS, Protix, Enviroflight, BETA HATCH, Nutrition Technologies, Hexafly Biotech, Enterra Feed Corporation, Innovafeed, NextProtein, HiProMine S.A., and Entobel.

Authors: Kunal Ahuja, Tushar Malkani