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Global 24.9% CAGR Rise for Insect Protein Market Size Will Reach USD 1.48 Billion By 2028: Polaris Market Research

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Global 24.9% CAGR Rise for Insect Protein Market Size Will Reach USD 1.48 Billion By 2028: Polaris Market Research

April 26
01:13 2022
Global 24.9% CAGR Rise for Insect Protein Market Size Will Reach USD 1.48 Billion By 2028: Polaris Market Research
According to the research report, the global insect protein market size & share was valued at USD 271.3 million in 2020 and is expected to reach USD 1.48 Billion By 2028, to grow at a CAGR of 24.9% during the forecast period.

According to the research report, the global insect protein market size & share was valued at USD 271.3 million in 2020 and is expected to reach USD 1.48 Billion By 2028, to grow at a CAGR of 24.9% during the forecast period.

What is Insect Protein Market? How Big is Insect Protein Market?

  • Overview

 

Insect proteins are feedstock that is high quality obtained from insects that can be used as a component that is used as a feed for pets, animals, or fish. They are new food and feed sources and endeavor to escape from conventional protein sources like soy and meat. Insect proteins are obtained from edible insects relying on what species are provided; several insects are advocated in their diets.

The world population is anticipated to have grown to 9 billion people by 2050. But already, the extensive population will engage a big part of the land, exempting only a minuscule percentage for agriculture to offer food for consumption by humans and animals. It will push the farmers to compel to produce animal feed on the scarce land available. As a source of protein, insects are sustainable and environmentally friendly as insects possess a smaller ecological footprint than other protein sources.

Request Sample Copy of Research Report @ https://www.polarismarketresearch.com/industry-analysis/insect-protein-market/request-for-sample

(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Important Questions Being Answered by The Market Report

  • What is the market size and growth?
  • At what CAGR is the market probable to grow in the forecast period?
  • Which is the significant segment depending on the product type in the market?
  • What are the crucial factors driving the market?
  • Who are the top players in the insect protein market report?
  • Which region is anticipated to hold the most significant market share in the insect protein market report?

 

Top Market Players Are:

  • Aspire Food Group Protifarm
  • Chapul Cricket Protein
  • EnviroFlight LLC
  • Ÿnsect
  • AgriProtein Holdings Ltd. Hexafly
  • Jimini’s and Swarm Nutrition GmbH
  • Innovafeed
  • EntomoFarms
  • Protix

 

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Insect protein market: Growth leading factors

The market is driven by factors like escalating urbanization, increasing venture funding in optional protein companies, transformation in food technology, the top nutritional value of insects that are edible, and environmental feasibility with the consumption and production of alternate protein. Other new products stepping up and increasing inclination towards a diet that is vegan considerably push the market growth.

Insects are a more convenient source of protein when compared to alternative plants and animals. Nurturing insect protein is cost-effective. In the former stage, the insect-based protein was used only as a component for animal food. But with the growing consciousness about the high protein content in insects, the usage is enormous across industries. Presently insect-based protein is utilized in medicines, food and beverages, cosmetics, nutraceuticals, pet food, poultry, and aqua feed.

The covid-19 pandemic has led to many exceptions in the food sector. The meat market has been adversely affected globally. The probability of constant supply, production, distribution, scarcity of workforce, and supplementary development activities has troubled the insect feed market.

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Insect protein market: Report Scope & Segments

Report Attribute

Details

Market Size 2020 Value

USD 271.3 million

Market Outlook for 2028

USD 1.48 billion

Expected CAGR Growth

24.9% from 2021 – 2028

Base year

2020

Forecast period

2021 – 2028

Segments covered

By Product, By Application, By Region

Key Companies

Aspire Food Group Protifarm, Chapul Cricket Protein, EnviroFlight LLC, Ÿnsect, AgriProtein Holdings Ltd. Hexafly, Jimini’s, and Swarm Nutrition GmbH, Innovafeed, EntomoFarms, and Protix

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization Options

Customized purchase options are available to meet your research needs.

 

Insect protein market: Key segmentation

  • Insight by product, application, and region

 

By product, the orthoptera segment holds a significant insect protein market share. It includes grasshoppers, crickets, and locusts. Grasshoppers contain 77% of protein, making them a go-to option for many insect-based companies. By application, insect protein is used in liquids and powders in animal feed additives to offer the required nutrition necessary for animals to help their overall growth. When built on feed mixtures, it assists in enhancing the weight gain rate in animals prohibiting vitamin deficiencies and diseases, and improving feed diversion and conversion.

By region, Europe accounted for the most significant market share and is expected to dominate ten forecast periods. The area is contemplated to be a notable market for insect-based protein. Among the prominent ingredients consumed the food applications, it covers the old and middle-aged consumers in Europe. Insect-based protein is mainly used for nutritional supplements in the region. But Europe is yet to comprehend its full potential in the beverages space. Increasing demand for insect-based protein in major markets involves the UK and Germany owing to the increasing significance of products that are fiber fortified and is anticipated to impact the market growth positively though at a slower rate.

Highlights of the report

  • This study offers the analytical portrayal of the global insect protein market accompanying the prevalent trends and future estimations to decide the approaching investment pockets
  • The report offers information connected to significant drivers, opportunities, and restraints together with depth analysis of the global insect protein market share
  • The prevalent market is quantitatively examined in the forecast period to underscore the market growth scenario
  • Porter’s five forces analysis exemplifies the potency of buyers and suppliers in the market
  • The report offers an in-depth analysis of the market depending on competitive intensity and how the competition will form shortly

 

Browse the full “Insect Protein Market Share, Size, Trends, Industry Analysis Report, By Product (Coleoptera, Lepidoptera, Hymenoptera, Orthoptera, Hemiptera, Diptera, Others), By Application (Food & Beverages, Animal Nutrition, Personal Care & Cosmetics, Others), By Regions; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/insect-protein-market

The market primarily depends on the product, application, and region

Insect protein market: By product

  • Coleoptera
  • Lepidoptera
  • Hymenoptera
  • Orthoptera
  • Hemiptera
  • Diptera
  • Others

 

Insect protein market: By application

  • Food & Beverages
  • Animal Nutrition
  • Personal Care & Cosmetics
  • Others

 

About Us:

Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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