The global insect protein market revenue is poised for significant growth, projected to reach USD 856.08 million by 2029 at a compound annual growth rate (CAGR) of 24.1%, according to Fortune Business Insights™ in its report, "Insect Protein Market, 2022-2029." This surge is attributed to rising urbanization and the growing demand for sustainable protein alternatives. The market was valued at USD 153.92 million in 2021 and USD 189.32 million in 2022.
Insect protein can be sourced from live insects or processed insect-based products. Species such as ants, mealworms, black soldier flies, crickets, and grasshoppers are notable for their high protein content and ability to thrive in resource-constrained environments. Insects have long been a dietary staple in over 110 countries, particularly in Southeast Asia.
Rich in protein, fats, vitamins, and minerals, edible insects offer a sustainable solution to enhancing food and feed security. Their nutritional profile and environmental benefits make them a viable alternative protein source for diverse food and feed applications. As awareness of their ecological advantages grows, insect protein is increasingly recognized as a crucial component of future sustainable food systems.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/insect-based-protein-market-100780
The rising demand for plant-based meat substitutes and portable protein snacks is a major driver of market growth. As consumer preferences shift towards healthier and more sustainable eating habits, the food industry is evolving to meet these expectations. To capitalize on this trend, manufacturers are encouraged to focus on expanding and innovating their product portfolios, ensuring they cater to the growing demand for convenient, protein-rich, and environmentally friendly alternatives.
List of Key Market Players-
Segments-
The insect protein market is categorized into various product segments, including lepidopterans, coleopterans, hymenopterans, and orthopterans. Its primary applications span food and beverages, animal feed, and pharmaceuticals and cosmetics. Geographically, the market is divided into key regions: Asia Pacific, South America, Europe, North America, and the Middle East and Africa.