Global Insect Protein Market by Insect Types, Applications, and Region — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Insect Protein Market was valued at USD 142.2 Million in 2019, and is projected to grow at CAGR of 45% over forecast period 2020–2026. Easy availability of edible insects, change in preference from animal to alternative proteins, increased concerns over future sustainability and extensive usage for purposes such as animal feed are factors augmenting the market growth.

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The global insect protein market is expected to register notable growth during the forecast period. Insect protein is a feasible alternative to various animal and plant-based protein sources as it offers the equivalent of higher protein content at a lower cost. Hiking prices of soymeal and fishmeal are propelling feed manufacturers to shift their preferences toward insect protein to cater to the rising demand for aquaculture and poultry feed.

Insects are a rich source of protein and yield higher protein content as compared to various animals and plants. Rearing of edible insects at a commercial scale requires fewer resources, such as land and feed. Initially, insect protein was used as an ingredient in animal feed only. However, the rising awareness regarding the high protein content in insects has diversified its application in other industries as well. For instance, market players are providing insect protein in powder forms to several manufacturers of food & beverages, pharmaceuticals, nutraceuticals, cosmetics, pet food, and animal feed. Insects belonging to different orders contain different amounts of protein. Thus, several insects are being reared for their high protein content and are witnessing an increasing number of applications as an alternative source of protein.

Market Trends, Drivers, Restraints and Opportunities:

Growing health awareness among people and rising demand for protein bars, powders, and mixes from athletes is driving the growth of the market.
Increasing investments in research for the development of new products for the healthcare industry are fueling the growth of the market.
Risks associated with the consumption of insect protein such as susceptibility to microbial risk and allergic reactions are restraining the demand for the protein.
High cost of insect protein is likely to hamper market restrain the growth of the market.
Rise in adoption of vegan diet is hampering the demand for insect protein.