Insect Protein Market to Grow by USD 2.8 Billion from 2024-2028, as Demand for Sustainable Protein Surges with AI Impact on Market Trends - Technavio

NEW YORK, Nov. 7, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global insect protein market  size is estimated to grow by USD 2.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  45.88%  during the forecast period. Increasing demand for sustainable protein sources is driving market growth, with a trend towards product diversification and innovation. However, inconsistency in government regulations related to insect proteins  poses a challenge.Key market players include All Things Bugs LLC, Aspire Food Group, Beta Bugs Ltd., Beta Hatch, Bioflytech, Chapul LLC, Darling Ingredients Inc., Entomo Farms, Bugs Asia Co. Ltd., Goterra, HEXAFLY, HiProMine S.A., Innovafeed SAS, JR Unique Foods Ltd., MealFood Europe SL, nextProtein SA, Nutrition Technologies, Protenga Pte. Ltd., Protix BV, and Ynsect SAS.

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The insect protein market is witnessing significant growth due to manufacturers' efforts to cater to diverse consumer preferences and niche markets. Insect protein is finding its way into various products such as protein powders, bars, refreshments, baked goods, and pet food. For instance, Chapul produces cricket-based protein bars and chips, appealing to health- and environmentally-conscious consumers. Insect protein's use extends to pet food and animal feed, further fueling market expansion. This trend signifies the increasing demand for nutrient-dense, eco-friendly, and sustainable protein alternatives, driving innovation and market diversification in the global insect protein sector. These trends are expected to shape the market's growth trajectory during the forecast period. 

The Insect Protein Market is gaining momentum as a sustainable and efficient protein source for various industries. With the trend towards healthy living and food security, insect protein is becoming a popular alternative to traditional animal-derived proteins. These tiny critters offer high nutritional value, including essential amino acids, making them an ideal culinary ingredient for protein bars, energy drinks, pet food, and more. Despite some allergic reactions and microbial risks, insect protein's health benefits outweigh the concerns. The market caters to vegan trends and diet-related diseases, offering plant-based alternatives to animal products. Insect farming, using species like Diptera-based Protein (Black Soldier Flies), Coleoptera (Mealworms), and Orthoptera (Crickets), is becoming a viable solution for reducing carbon footprint in animal feed and human nutrition. Insect protein's high protein content, along with automation, biotechnology, vertical farming, AI optimization, and processing techniques, is making it a sustainable protein alternative for aquaculture and human consumption. However, animal welfare concerns, cultural resistance, and allergy concerns are challenges that the market must address to gain widespread acceptance. 

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•         The global insect protein market encounters notable challenges due to varying regulatory frameworks in different countries and regions. Harvesting and processing insects for human consumption or animal feed are restricted or banned in certain areas, hindering market expansion. For example, Europe's Novel Food Regulation imposes lengthy approval processes for using insects as food or feed. The FDA in the US offers limited information on insect consumption, creating uncertainty for insect protein manufacturers. Cultural acceptance of insect-based products also varies, impeding market growth in specific regions. These conflicting regulations pose significant obstacles for vendors in the insect protein market, restricting new entrants and limiting market expansion during the forecast period.

•         The Insect Protein Market is gaining momentum as a sustainable alternative to traditional animal-derived protein sources. However, offline distribution poses a challenge for players in this market. Insect farming, using Diptera-based protein sources like Black Soldier Flies and Coleoptera, as well as Orthoptera like Crickets, offers high protein content and nutritional richness. Sustainability is a key selling point, with insect protein having a smaller carbon footprint compared to animal feed production. Insect protein is also beneficial for human nutrition and aquaculture. Automation, biotechnology, and vertical farming are driving efficiency in insect farming. AI optimization and processing techniques improve product quality and consistency. Health-conscious consumers seek efficient, sustainable protein sources, creating opportunities for strategic alliances. Animal welfare concerns, cultural resistance, and allergy concerns are challenges to be addressed. Nutritional benefits, food security, ethical alternatives, raw material shortages, and shipping delays are other factors influencing market growth.

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This insect protein market report extensively covers market segmentation by

1. Application 
• 1.1 Animal nutrition
• 1.2 Food and beverages
• 1.3 Pharmaceutical and supplements
2. Product 
• 2.1 Coleoptera
• 2.2 Lepidoptera
• 2.3 Hymenoptera
• 2.4 Orthoptera
• 2.5 Others
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Animal nutrition-  The animal nutrition segment is expected to lead the insect protein market, driven by the rising demand for eco-friendly alternative protein sources. Insect protein's nutritional value and minimal environmental impact make it a popular ingredient in feed for livestock, poultry, fish, and pet food. Consumers' increasing awareness of the benefits, such as decreased greenhouse gas emissions and effective feed conversion, is fueling market growth. Regulations promoting sustainable farming practices and consumer preference for natural and sustainable animal products further boost demand. These factors collectively will drive the insect protein market's expansion in the animal nutrition sector during the forecast period.

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Insect Protein is an emerging market that offers sustainable and nutritious alternatives to traditional animal-derived protein sources. With a focus on Healthy Living and Food Security, Insect Protein is gaining popularity as a solution to address environmental sustainability concerns and reduce the carbon footprint of animal agriculture. Insects, such as Diptera, Coleoptera, and Orthoptera, are rich in nutritional value, offering high protein content and essential amino acids. Insect Protein can be used as a culinary ingredient in various food applications, including protein bars, energy drinks, and pet food. However, there are concerns regarding allergic reactions and microbial risks associated with Insect Protein. Strategic alliances and advancements in processing techniques are being explored to mitigate these risks and increase consumer acceptance. Insect Protein is also being explored as an alternative to animal feed in aquaculture and as a sustainable source of protein for human nutrition. Despite the potential benefits, there are challenges such as animal welfare concerns, cultural resistance, and allergy concerns that need to be addressed. Overall, Insect Protein is an efficient and sustainable protein source that offers significant potential for the future of alternative protein sources.

Insect Protein is an emerging market that offers sustainable and nutrient-dense alternatives to traditional animal-derived protein sources. With a growing emphasis on healthy living, food security, and environmental sustainability, Insect Protein is gaining popularity as a viable solution for addressing diet-related diseases and reducing the carbon footprint of animal agriculture. Insects such as Diptera-based Protein from Black Soldier Flies, Coleoptera, and Orthoptera, including Mealworms and Crickets, are rich in nutritional value and high in protein content. Insect Protein is used as a culinary ingredient in various food applications such as Protein Bars, Energy Drinks, Pet Food, and even in Aquaculture. However, there are concerns regarding allergic reactions, microbial risks, and cultural resistance. The market is also witnessing strategic alliances, automation, biotechnology, and vertical farming to optimize production and processing techniques. Despite these challenges, Insect Protein is poised to become a significant player in human nutrition and animal feed industries as an ethical alternative and sustainable protein source.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Animal Nutrition
• Food And Beverages
• Pharmaceutical And Supplements
• Product
• Coleoptera
• Lepidoptera
• Hymenoptera
• Orthoptera
• Others
• Geography
• Europe
• North America
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio