New York, April 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Insect Protein Market Size, Share & Industry Trends Analysis Report By Source, By Application, By Regional Outlook and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06249503/?utm_source=GNW
Insects are known to be the highest protein source, and they are processed into protein powder. This byproduct is utilized to feed both humans and animals. Undoubtedly, it is an excellent alternative source of protein, with a fast increase in demand over the years, mostly in the feed business.
Insect protein is a good substitute for a variety of animal and plant-based protein sources since it has a greater protein content and can be produced at a low cost. Because of the steady rise in the price of soymeal and fishmeal, feed manufacturers are increasingly turning to insect protein production to meet the growing demand for aquaculture and poultry feed.
Over the forecasting period, demand for insect protein is expected to be driven by rising consumer awareness about the consumption of nutritional food products and a growing inclination for a healthy lifestyle. In addition, the rising health awareness among consumers throughout the world has raised the demand for healthy and nutritious food products, presenting the potential for producers across a wide range of industries to provide such products.
As the world’s population grows, so does the demand for food goods. Insect protein has a lot of potential in eliminating food scarcity around the world. Insect protein is used in a variety of goods, including animal feed, food and beverage, cosmetics, and personal care products. In addition, as global food shortage becomes a higher concern, insects are being investigated as a new source of human food and animal feed in Western countries.
COVID-19 Impact
COVID 19 has had an impact on 215 countries. Countries have imposed a lockdown to prevent the harmful consequences, which has had a detrimental impact on the overall insect protein industry. The pandemic created significant disruptions for the food industry. In addition, the insect protein market has been impacted by reasons such as the risk of continued production, supply, distribution, a lack of labor, and fewer development activities.
People aren’t eating as much meat as they used to. This has increased the issues for this industry and boosted the demand for alternatives such as edible insects and vegan products. However, long-term animal protein consumption can be beneficial to human health.
Market Growth Factors
The growing number of potential applications of Insect Proteins
Protein source research has increased in recent years. Novel protein sources must supply nutrition as well as vital amino acids while also improving taste and keeping costs down. Insect protein components are typically derived from the insect’s muscles, fat body, and outer layers.
These can be found in both water-soluble and water-insoluble forms in nature. This has resulted in an increase in bug feed sales all around the world. Insect feed nourishes livestock and encourages healthy growth. As farmers seek alternative protein sources in insects, the demand for such products is likely to increase in the upcoming years. In addition, insects have a higher protein content than other animals and plants. Some years ago, Insect protein was solely utilized as an ingredient in animal feed. However, as people have become more aware of the high protein content of insects, it has become more commonly used in a variety of businesses.
Rising demand for Insect protein in the aquaculture industry
The aquafeed industry is always on the lookout for new sources of nutrition. As a result, the market for mealworms and fly larvae is becoming more competitive. The most regularly utilized aquafeed ingredients, fish meal, and soymeal are both costly. As a result, the demand for superfoods is increasing.
The demand for alternative and economical protein sources, like edible insects for animal feed, is increasing as aquaculture output grows. Insect protein is widely used in processed food products, including pasta, burgers, branded cookies, patties, nutritious snacks, and others. It is less expensive to produce and provides a long-term health benefit. The edible insects are frequently used to feed cattle, lambs, pigs, and broiler chickens because they are high in vitamins, amino acids, and high-quality protein.
Market Restraining Factors
A Growing Number Of Vegan Population
As compared to other alternative protein sources, edible insect and insect protein are used in a very limited number of foods, drinks, and nutritional supplements. The majority of people in India and throughout the world are unaware that insects can be used as a food source and a protein supplement. Thus, this lack of awareness towards these products would act as a major barrier to their adoption. In addition, the rising number of vegetarian and vegan popularity around the world would be a major challenge for the industry players.
Source Outlook
Based on Source, the market is segmented into Coleoptera, Hemiptera, Hymenoptera, Lepidoptera, Orthoptera, Diptera, and Others. The Lepidoptera segment held a significant revenue share of the overall insect protein market in 2020. This is because Lepidoptera is one of the primary sources of insects used for generating insect protein and covers insects such as caterpillars, butterflies, and moths. In addition, many consumers are embracing this protein type to get essential proteins.
Application Outlook
Based on Application, the market is segmented into Animal Nutrition, Food & Beverages, Pharmaceutical & Supplements, and Personal Care & Cosmetics. In 2020, the animal nutrition segment procured the largest revenue share of the overall insect protein market. Insect protein is generally used as a feed supplement for poultry, aquaculture, and other livestock. In addition, animal feed makers are developing interest in high digestibility band amino acid and protein content. Moreover, manufacturers in the animal nutrition industry will profit from categories such as pet food and aquaculture.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2020, the European region emerged as the leading region in the overall insect protein market. This is because insect protein is highly adopted by consumers in the European market for applications such as food and beverage, animal nutrition, and personal care. The recent approval of insect protein for poultry and pig feed is projected to boost demand in the European market even further.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include InnovaFeed, Darling Ingredients, Inc., SAS Ynsect, Protix BV, NTG Holdings Pte. Ltd., Goterra, Entomo Farms, Chapul, Aspire Food Group, and Hexafly.
Strategies Deployed in Insect Protein Market
Jan-2022: Darling Ingredients signed an agreement to acquire Valley Proteins, a company that offers rendering and recycling of animal by-products. The acquisition of Valley proteins would support the global supply of waste fats and greases of Darling Ingredients. The latest supply would now offer Darling extra low-carbon feedstock to create renewable diesel and potentially sustainable aviation fuel.
Oct-2021: Aspire Food Group partnered with Dematic, a leader in intelligent automation. Following the partnership, the two companies would jointly develop a new facility that would redefine food-grade insect protein production. Moreover, the facility aimed to create the world’s first completely automated food-grade insect protein manufacturing location with Dematic Automated Storage and Retrieval System (AS/RS) technology.
Sep-2021: Nutrition Technologies expanded its geographical reach by opening its new industrial-scale factory in Malaysia. In addition, this would become the first large-scale insect protein factory in Southeast Asia, increasing above 3 trillion bugs at any one time, to develop sustainable proteins for the animal feed industry. In addition, the facility is an eco-friendly and zero-waste factory where all the bugs are fed on factory food waste which is diverted from landfills.
May-2021: InnovaFeed formed a partnership with Cargill, a U.S. agriculture giant. Through this partnership, the companies aimed to provide 20 million piglets with insect oil by 2026. The partnership would cover more species, beginning with the utilization of oil extracted from insects for pig feed.
Apr-2021: Ÿnsect took over Protifarm, the global leader in mealworm ingredients for human applications. Following the acquisition, the combined capabilities of the companies would expedite the manufacturing capacities with a third production site, as the company aimed to provide a natural, healthy and long-term sustainable solution to the growing consumption of protein.
Nov-2020: InnovaFeed expanded its geographical footprint by establishing its insect protein production site in the north of France. Following this expansion, the company aimed to expedite its local as well as global expansion strategy.
Nov-2020: InnovaFeed joined hands with ADM, one of the world’s leading human and animal nutrition providers. Following this collaboration, the two companies jointly work towards the development and operation of the world’s biggest insect protein production facility in Decatur, Illinois. Through this, InnovaFeed would offer sustainable solutions to fulfill the rising demand for insect feed in the US and around the world.
Jun-2020: Darling Ingredients completed the acquisition of the remaining 50% shares of EnviroFlight, a company that produces sustainable insect ingredients from Intrexon Corporation. This acquisition would expand the capabilities of Darling in creating highly scalable and pathogen-free proteins for sustainable feed solutions.
Mar-2018: Aspire Food Group completed the acquisition of Exo, which makes protein bars made from crickets. Through this acquisition, Exo became the consumer brand for the company. Moreover, Aspire’s existing Aketta cricket food products would be renamed as Exo products, and the company would remain a distinct entity.
Jan-2017: Bühler formed a joint venture with Protix named Bühler Insect Technology Solutions. The joint venture would create scalable, industrial solutions for the rearing, and processing of insects to offer protein, particularly for animal feed and food.
Scope of the Study
Market Segments covered in the Report:
By Source
• Coleoptera
• Hemiptera
• Hymenoptera
• Lepidoptera
• Orthoptera
• Diptera
• Others
By Application
• Animal Nutrition
• Food & Beverages
• Pharmaceutical & Supplements
• Personal Care & Cosmetics
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• InnovaFeed
• Darling Ingredients, Inc.
• SAS Ynsect
• Protix BV
• NTG Holdings Pte. Ltd.
• Goterra
• Entomo Farms
• Chapul
• Aspire Food Group
• Hexafly
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06249503/?utm_source=GNW
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