The global insect protein market was valued at USD 153.92 million in 2021 and is expected to grow from USD 189.32 million in 2022 to USD 856.08 million by 2029, representing a CAGR of 24.1% during the forecast period. Europe held the largest share of the market, accounting for 33.67% in 2021.
Insect protein can be derived from live insects or processed insect-based products. Insects such as ants, mealworms, black soldier flies, crickets, and grasshoppers are known for their high protein content and their ability to thrive in resource-limited environments. These insects have been a dietary staple in over 110 countries, especially in Southeast Asia.
Edible insects are rich in protein, fats, vitamins, and minerals, making them a sustainable solution to address food and feed security. Their nutritional benefits, coupled with their positive environmental impact, position insect protein as a promising alternative source of protein for various food and feed applications. As awareness of their ecological benefits grows, insect protein is gaining recognition as a key element in the development of sustainable food systems for the future.
The growing demand for plant-based meat substitutes and convenient protein snacks is a key driver of market expansion. As consumers increasingly shift toward healthier and more sustainable dietary choices, the food industry is adapting to these evolving preferences. To capitalize on this trend, manufacturers are encouraged to innovate and diversify their product offerings, ensuring they meet the rising demand for protein-rich, convenient, and eco-friendly alternatives.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/insect-based-protein-market-100780
List of Key Market Players-
Segmentation:
The insect protein market is divided into various product categories, including lepidopterans, coleopterans, hymenopterans, and orthopterans. It serves multiple applications, such as food and beverages, animal feed, and pharmaceuticals and cosmetics. Geographically, the market is segmented into regions: Asia Pacific, South America, Europe, North America, and the Middle East and Africa.