Insect Protein Market Projected To Reach USD 1.51 Billion By 2030

 San Francisco, 28 Aug 2024: The Report Insect Protein Market Size, Share & Trends Analysis Report By Product (Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera), By Application, By Region, And Segment Forecasts, 2024 - 2030

The global insect protein market size is anticipated to reach USD 1.51 billion by 2030, registering a CAGR of 16.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand for insect protein is growing as it is recognized as a sustainable alternative to traditional livestock, requiring significantly less land & water and emitting fewer greenhouse gases (GHG). Regulatory approvals, such as those in the EU allowing insect protein in animal feed, foster market acceptance and expansion. Consumer acceptance of insect protein is gradually increasing, driven by awareness campaigns and educational efforts highlighting its benefits.

Beetle protein's high nutritional value, combined with its sustainable production methods, appeals to health-conscious and environmentally aware consumers. As the stigma around eating insects diminishes, the market for beetle-based products is expected to grow. Innovations in processing and product development are also making the beetle protein more accessible and appealing to a broader audience. Companies like InnovaFeed employ state-of-the-art bioconversion processes to transform organic waste into high-quality insect protein, promoting a circular economy. Genetic engineering also plays a significant role, with research focused on enhancing the nutritional profile and growth rates of insects.

These technological improvements make insect protein production more scalable and cost-effective, allowing producers to meet the rising demand from various sectors, including animal feed, pet food, and aqua feed. Key players drive innovation and growth by developing sustainable solutions for animal feed and other sectors. They focus on scaling production through advanced farming technologies and partnerships with industry leaders. These companies are expanding product portfolios to include insect-based protein and oils, targeting diverse applications, such as aquaculture and monogastric animal nutrition. Their efforts are supported by increasing regulatory acceptance and growing consumer awareness of the environmental benefits associated with insect protein as a viable alternative to traditional livestock feed.

Access Research Report of Insect Protein Market @ https://www.grandviewresearch.com/industry-analysis/insect-protein-market

Insect Protein Market Report Highlights

• In 2023, the coleoptera segment accounted for over 30% of the revenue. Beetle larvae, notably mealworms, are prized for their high protein content and essential nutrients, appealing as a sustainable food source due to their low environmental impact. Rising demand for eco-friendly protein options amid global population growth is driving increased adoption of coleoptera-based protein in the food industry
• The animal feed segment held a share of over 40% in 2023 due to the high demand for sustainable alternatives to soy and fishmeal. Species like black soldier flies and mealworms provide essential nutrients and amino acids, crucial for aquaculture, poultry, and pet food. The environmentally friendly production methods of insect protein, using organic waste and minimal land and water, align with increasing agricultural sustainability goals
• Europe is expected to grow at a CAGR of 16.8% from 2024 to 2030 due to regulatory backing and increasing consumer awareness of product sustainability and health benefits. For instance, regulatory approvals in 2021 allowing insect protein in chicken and pig feed, already permitted for fish, have accelerated market growth by enhancing regulatory acceptance and adoption across agricultural industries
• The market shows moderate fragmentation, with key players like AgriProtein and Ynsect scaling operations to meet demand with eco-friendly feed solutions
• In October 2023, Tyson Foods, a prominent U.S. meat producer, revealed its investment in Protix, a Dutch firm specializing in insect-based ingredients. This collaboration aims to establish a U.S. facility using animal waste to cultivate black soldier flies, ultimately producing feed for pets, poultry, and fish. Tyson Foods emphasizes that their initial focus is on incorporating insect protein as an ingredient, rather than directly for human consumption

Insect Protein Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 591.6 million
Revenue forecast in 2030	USD 1.51 billion
Growth rate	CAGR of 16.9% from 2024 to 2030
Actuals	2018 - 2023
Forecast period	2024 - 2030

List of Key Players in the Insect Protein Market

• Ynsect
• Protix
• AgriProtein
• EnviroFlight
• Hexafly
• Innovafeed
• Beta Hatch
• Entomo Farms
• Entobel
• nextProtein

Access Press Release of Insect Protein Market @ https://www.grandviewresearch.com/press-release/global-insect-protein-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon