The insect protein market is projected to grow at a CAGR of 26.78% to reach US$1,297.540 million by 2025 from US$312.431 million in 2019.
It may be noted that entomophagy has been practiced for thousands of years by humans. With a growing population of the world, it is estimated that conventional agricultural and livestock farming will be rendered incapable to provide the required amount of food that is supposed to meet the dietary requirements.
This factor has further gained currency due to the growing global population that is estimated to reach 8.5 billion in 2030, 9.7 billion in 2050, and 10.9 billion in 2100 from 7.7 billion in 2019 according to World Population Prospects (WPP), by the United Nations. Additionally, it may be noted that the environment is under a lot of stress from activities pertaining to agriculture and livestock, and to sustain the projected number of populations further will translate into an unprecedented negative interaction with the environment.
The global livestock sector is known to contribute significantly to anthropogenic GHG emissions, which is to the tune of 7.1 gigatonnes CO2 -eq per annum, accounting for 14.5 % of GHG emission that is human-induced. Further, beef and cattle milk production accounts for most of the emissions contributing 41% and 20% respectively. On the other hand, pig meat and egg production account for 9% and 8% respectively [Source: Food and Agriculture Organization of the United Nations (FAO)].
Thus, considering the plethora of factors that influence the choice of consumers, concerns about corporate and environmental sustainability has gained a lot of currency around the world, factors like fresh, natural and/or organic ingredients, environmentally friendly operations are turning the tide in favor of insect protein market. Coupled with the growing cognizance of the negative externalities that are caused by animal husbandry activities as elucidated above, further provides an incentive for market players to invest in insect protein geared toward human consumption.
Additionally, the health and wellness aspirations of consumers have remained a constant determinant influencing human consumption habits, to this end the generation Z is the key demographics which is expected to drive the market for insect protein during the forecast period.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Insect Protein Market Analysis, By Source
5.3. Black soldier flies
5.7. Others (beetles, buffalo worms, silkworms)
6. Insect Protein Market Analysis, By Application
6.2. Animal Feed
6.3. Food and Beverage
6.4. Pharmaceuticals & Personal Care
7. Insect Protein Market Analysis, by Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.2. Haocheng Mealworms Inc.
9.4. SAS nsect
9.5. EnviroFlight L.L.C.
9.8. Insect Technology Group Holdings UK Ltd.
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