The global insect protein market was valued at USD 153.92 million in 2021 and is projected to grow from USD 189.32 million in 2022 to USD 856.08 million by 2029, reflecting a CAGR of 24.1% over the forecast period. Europe led the market in 2021, holding a dominant 33.67% share.
Insects serve as a primary food source for over 2 billion people worldwide. Beyond their high protein content, they offer essential fats, high-quality lipids, fiber, vitamins, and minerals such as iron and calcium. Commonly used insect protein sources include mealworms, black soldier flies, locusts, and crickets. While insect-derived lipids show promise for biofuel applications and by-products like chitin hold value in the pharmaceutical and bioplastic industries, insect proteins are primarily used in food, pet food, aquafeed, and animal feed.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/insect-based-protein-market-100780
Market Segmentation
Report Coverage
This report provides:
Market Drivers and Challenges
Growing Demand for Alternative Proteins Fuels Market Expansion
Insects provide higher protein content compared to traditional animal and plant-based sources and are more cost-efficient to cultivate. Their increasing application across industries—including aquafeed, nutraceuticals, pet food, pharmaceuticals, and beverages—is driving market growth. Additionally, advancements in food technology, urbanization, and shifting consumer preferences are further propelling demand.
However, the high production costs associated with insect protein remain a significant challenge to market expansion.