According to the current analysis of Reports and Data, the global Insect protein market is estimated to grow at a CAGR of 38% and reach USD 1.4 billion by 2026. Insect protein is high-quality protein-rich product. In a contrast of beef and cricket, crickets contain about 69% protein, while beef is supposed to have only 29%. Crickets contain nine crucial amino acids, alongside with B12, iron, zinc, magnesium, sodium, potassium and calcium. Cricket flour comprises more calcium than milk and more iron than spinach. Over half of fish consumed around the world are farmed, and could make high fish diet because they are a natural food source for fish. They are also a natural food source for poultry, and the exoskeleton of insects comprises a substance known as chitin, which is a polysaccharide. Chitin naturally increases the immune system of poultry, thus eradicating the need for antibiotics, which escalates the food chain into humans.
By Insect type, Crickets, Black Soldier Flies, Mealworms, Ants, among others are considered in the study for industry. By application it is segmented into food and beverages, animal nutrition, pharmaceutical, & Cosmetics. By Form type, whole, powder, oil among others are also considered in the report.
On the basis of regions, the market has been subdivided into North America, Europe, Asia-Pacific, and Rest of the World. The North American region is expected to occupy maximum market share, mainly due to the deep entrenchment of research and development in the region.
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Key participants includes Agriprotein Holdings Ltd., Enviroflight LLC, Innovafeed, Ynsect, Hexafly, Protix, Jiminis’s, Entomo Farms, Aspire Food Group, Protifarm
Segments covered in the report:
Insect Type (Revenue, USD Million; 2016–2026)
- Black Soldier Flies
Application (Revenue, USD Million; 2016–2026)
- Food and Beverage
- Animal Nutrition
- Pharmaceutical & Cosmetics
Form (Revenue, USD Million; 2016–2026)
- Whole Insect
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
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Further key findings from the report suggest
- Animal Nutrition Industry is expected to have a CAGR of 45% from 2019-2026 to meet that demand; agricultural producers are fueling up their operations by growing herd sizes and obtaining the best feed to improve meat quality.
- By type, Crickets have got a significant share in 2018. Cricket contains the highest protein percentage as compared with other insects and widely used in powder form in sports nutrition industry.
- The mealworm segment is expected to witness the fastest-growing segment with a CAGR of 24.00% during the forecast period; they are considered healthy due to their high protein and fat content. The dried mealworm is reflected to have around 53% protein, while live worms have approximately 20%.
- Insect protein powders are mainly used as protein bars and snacks in the B2C segment were it is used as a food additive. There have been continued product launches followed by rising demand for nutritional foods.
- European Commission officially approved the use of insect protein as a new feed form of aquaculture feed. Approval by the European Commission followed by the Canadian Food Inspection Agency (CFIA) approval of use of insects as a constituent in Salmon feed.
- In February 2018, Protifarm launched 100% pure buffalo insect powder, which can be used in a wide variety of food formulations. This product launch expanded the company’s product portfolio
- Restaurants and supermarkets around the world are already serving up edible insects, making the category to be a lucrative option for food industry giants such as Nestle, PepsiCo, and Tyson.
- The nutrition offered by the constituent includes monounsaturated (MUFA) and polyunsaturated fatty acids (PUFA), vitamins and minerals, including as zinc, iron, magnesium, copper, biotin, selenium, and pantothenic acid.
Key Features of the Insect Protein Market Report:
- The report offers a comprehensive analysis of the changing competitive dynamics.
- Provides a futuristic outlook on the key market drivers and restraining factors.
- A comprehensive 8-year forecast of the market and its expected growth rate and pattern.
- In-depth analysis of the key product segments and application spectrum
- Provides strategic recommendations to the established companies and new entrants to provide a competitive advantage over the other companies.
- Comprehensive analysis of the key regions of the industry and provides a SWOT analysis and Porter’s Five Forces analysis to impart a deeper understanding of the market.
- Helps in formulating strategic business decisions and investments plans.
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