Press release
Insect Feed Market 2023 Global key players Buhler AG, Nextprotein, Entofood, Hexafly, Enviroflight, Diptera Nutrition, Agriprotein, and Coppens
Insects used to feed animals have less market penetration than normal foods. Fishmeal, fish oil, soybeans and many other grains (regular foods) are the most commonly used ingredients in animal feed. According to the FAO, the purchase of these key ingredients represents more than 65% of production costs in the manufacture of animal feed. In addition, the price of these raw materials has increased significantly in recent years. The use of fish for non-food purposes like insects feed and use as vaccines, have been decreasing in the last two decades.
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Drivers and Restraints:
It is expected that the growing importance of alternative food will stimulate the demand for alternative sources of food and to add more farmland for future agricultural planning. Edible insects have a high nutritional value and can provide higher protein levels in a sustainable way. Food derived from insects and the harvest of insects has a potential demand for commercial uses that have a promising advantage of an optimal use of resources. The insect feed market is currently in the introductory phase and can create significant growth opportunities for food suppliers and insect producers. The adoption of insect feed in the ecosystem is expected to lower feed costs for farms and suppliers.
The first investors and adopters can create a platform for the market, capturing a significant portion of the market during the forecast period. The strict regulation of the use of insects as food for aquaculture can hinder the market of food for insects. Europe has banned the use of insects to feed livestock after the mad cow disease epidemic in the British Isles. After 2013, Europe allowed the use of insects for aquaculture under strict restrictions. Administrations around the world are evaluating standards and guidelines on insect foods as an alternative to conventional foods for commercial applications. Therefore, regulations concerning insect feeding should have an impact on the global food market by insects in the forested time period.
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Geographical Segmentation:
Based on geography, the Global Insect Feed market can be segmented in North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. The aquaculture industry is strongly oriented towards Asia-Pacific, particularly in China and the countries of Southeast Asia. The majority of fish feed production is consumed in the countries of Southeast Asia. The production of insect feed is not being used at optimal levels, although the Asia-Pacific region is a major producer of fish in the aquaculture industry.
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Buhler AG, Nextprotein, Entofood, Hexafly, Enviroflight, Diptera Nutrition, Agriprotein, and Coppens are the major players of the Global Insect Feed Market.
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