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Cricket Protein Powder Market value expected to reach US$ 109 Mn by the end of 2030: High Nutritional Value Of Edible Insects Driving Sales
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Cricket protein powder protein products are also known for their ability to offer higher energy levels as compared to conventional animal-based protein products, as they contain higher amounts of essential amino acids as compared to conventional meat products. Vitamin B12, which occurs only in foods of animal origin, is found in sufficient amounts in house crickets. This vitamin is essential for the overall development of human health. As such, high nutritional profile offered by cricket protein powder is expected to drive growth of the cricket protein powder market, at an expected value CAGR of around 11% through 2030.
Key Takeaways from Cricket Protein Powder Market Study
The industrial segment of end use is anticipated to exhibit high value CAGR during the forecast period (2020-2030), and hold more than 80% share of the market. Under this, the bakery & snacks sub-segment is leads the way.
A large number of start-ups offering cricket-based products are located in Europe and North America. Many investors have identified the potential of cricket-based products, and both these regions together hold more than 45% of the global market share.
Developing countries in South Asia including India, Indonesia, Malaysia, and others, are projected to account for high demand for insect-based protein in the near future, with an expected CAGR of around 12% through 2030.
Sales of cricket protein powder through online distribution channels is expected to experience 3X growth by 2030, owing to growing Internet penetration and quick seek out deals for choosing quality and price-specific cricket protein powder.
The spread of COVID-19 has hampered production and disrupted the supply chain activities of the cricket protein powder market. However, with increasing demand for health-beneficial and nutrient products, losses are expected to be recovered in the near term.
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The primary objective of the report is to provide insights regarding opportunities in the market that are supporting the transformation of global businesses associated with cricket protein powder. It is very important to consider that, in an ever-wavering economy, we provide estimated (Y-o-Y) year-on-year growth rate in addition to compound annual growth rate (CAGR) for overall forecasts, to enable readers better understand the analysis and evaluation of the global cricket protein powder market, and to discover lucrative opportunities in the market.
This report also provides an estimate of market size and corresponding revenue forecasts carried out in terms of absolute $ opportunity. It also offers actionable insights based on the future trends in the market. Furthermore, new and emerging players in the global cricket protein powder market can make use of the information presented in the study for effective business decisions, which will provide momentum to their businesses as well as the global market.
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Key Questions Answered in the Market Study
Which region will hold the highest market share in the global cricket protein powder market during the forecast period?
Which region is experiencing the highest growth (CAGR)?
Which factors are impacting the global cricket protein powder market?
Which are the global trends impacting the market?
What strategies must emerging players adopt to capture opportunities in various regions in the market?
What is the market structure of the global cricket protein powder market?
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