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Increasing demand for protein-rich products, sustainable raw material, and their contribution to the circular economy are some of the major factors that are expected to contribute to the growth of the global insect protein market.
The premium market intelligence study by BIS Research on the global insect protein market is projected to reach $1.38 billion in terms of revenue by 2027, at a CAGR of 26.49%.
Source: BIS Research Analysis
With an increased worldwide focus on achieving net-zero emissions, the shift to eco-friendly, sustainable products brings significant sales and financing opportunities. The shift is more prominent in the food and beverages industry in regions such as North America and Europe. Thus, insect protein-based products are a great alternative to conventional plant and animal-based food products.
An insect is a sustainable source of protein which can be a developing solution for the food industry. According to the Food and Agriculture Organization (FAO), the protein content available in insects are much higher than other conventional sources such as meat and plant-based products.
The detailed study is a compilation of 74 market data tables and 26 figures spread through 144 pages and an in-depth TOC on “Insect Protein Market – Analysis and Forecast, 2022-2027”
Leading Insect Type in the Global Insect Protein Market
Among all the insect types, the cricket segment is expected to dominate the global insect protein market with a significant share of $101.2 million by 2027.
Figure: Global Insect Protein Market (by Insect Type), $Million, 2021-2027
Source: Expert Interviews and BIS Research Analysis
Crickets are high in macro and micro-mineral elements like calcium, potassium, sodium, iron, magnesium, phosphorus, zinc, manganese, and copper. Crickets are further high in vitamins such as B group vitamins, along with that crickets have vitamins A, C, D, E, and K. They additionally come with high protein content.
When compared to livestock, cricket farming is more environmentally friendly owing to its low greenhouse gas emissions, low water as well as feed intake, and limited land area requirement for production. Crickets have wider applications in food products.
From all these factors, it can be said that this segment will grow further in the near future.
Demand – Drivers and Limitations
Following are the demand drivers for the insect protein market:
The market is expected to face some limitations too due to the following challenges:
Reasons to Buy This Report
This exclusive report on the insect protein market will help you in the following ways:
Analyst’s Take on the Market:
According to Rakhi Tanwar, Principal Analyst, BIS Research, “Currently, adoption of insect protein is rising gradually, since consumers are shifting their consumption pattern toward a more sustainable food source and also prefer to have supplements in their diet. Insect protein powder, hence, is gaining popularity among consumers globally. Some other trending products are insect protein powder, protein bars, cookies, pasta, insect flour, and others. The insect protein’s adoption is further going to increase at a CAGR of 26.49% during the period 2021 to 2026, due to its low farming and processing costs along with an increased need for a sustainable protein source.”
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Key Companies Operating in the Market and Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
The top segment players who are leading include insect protein ingredient providers and insect protein product providers, which capture around 56.67% of the presence in the market. Players in other industries such as clothing and apparel, packaging, and animal feed, among others, account for approximately 43.33% of the presence in the market.
Some of the prominent names operating in this market are:
Company Type 1: Insect Protein Product Manufacturers
Company Type 2: Insect Protein Ingredient Providers
Companies that are not a part of the above pool have been well represented across different sections of the report (wherever applicable).
Who should buy this report?
The companies which are manufacturing and commercializing insect-based foods and beverages, animal feed, fertilizers, pharmaceuticals, personal care products, research institutions, and regulatory bodies should buy this report.
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Key Questions Answered in the Report:
About BIS Research:
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Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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