As per new study on Compatibility Insect Protein Market | Industry size, share, analysis, trend & Forecast to 2021-2029 | EntomoFarms, Aspire Food Group, Protifarm

Insect Protein Market Industry Analysis

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

The ever-growing population is intensifying the strain on the environment. Several studies estimate the global population to surpass the 9-billion market by 2050. Insects are rich in protein and can be consumed indirectly as recomposed foods or used as feed for animals. There are over 2,000 types of edible insects, including beetles, caterpillars, bees, wasps, ants, grasshoppers, locusts, crickets, cicadas, leaf and planthoppers, scale insects and true bugs, termites, dragonflies, and flies. The high nutritional value of edible insects — high-quality protein, vitamins, and amino acids — drives the growth of the insect protein market. Further, insects have a high food conversion rate, which further drives their consumption. The demand for insect protein is expected to grow in the coming years with the rise in health consciousness. Since they are cold-blooded, crickets convert their food into energy far more efficiently than mammals. Insects have a high feed-conversion efficiency rate, which is measured in kg of feed per kg of weight gain, which is an average animal's capacity to convert feed into increased body mass.  

A direct comparison between cricket and beef shows crickets are 69% protein while beef is only 29% protein. Crickets contain nine essential amino acids, along with B12, iron, zinc, magnesium, sodium, potassium, and calcium, and produce 80 times less methane gas than cows; thus, their environmental impact in terms of greenhouse gas production and global warming is far lesser than that of cattle.  A wide variety of products can be made from cricket protein, such as cricket flour, which contains more calcium than milk and more iron than spinach. Insect-based flour incorporating crickets and mealworms can be used to produce biscuits, cookies, bread, muffins, desserts, soups, smoothies, chips, and pasta.

Over half of the fish consumed around the world is now farmed, and they are fed by wild-caught fish, which is depleting marine life and adversely impacting entire marine ecosystems. Insect protein can be used as fishmeal since insects are a natural food source for fish. They are also a natural food source for poultry, and the exoskeleton of insects contains a substance known as chitin, which is a polysaccharide. Chitin naturally boosts the immune system of poultry, eliminating the need for antibiotics, which go up the food chain into humans.

Growing environmental concerns have seen an upsurge in the demand for biodegradable packaging and natural solutions. There is scope to incorporate the exoskeleton of insects, chitin, and chitosan, to meet these consumer demands. Chitin and chitosan are essential as processing and preservation aid in the edible film industry. Chitosan products are tough, long-lasting, flexible, and difficult to tear; they also have moderate water permeability values. In combination with other processing techniques such as heating and modified atmosphere packaging, they can be used to increase the storage life of fresh fruits and vegetables.

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The Major Prominent Players Covered in this Report:
EntomoFarms
Aspire Food Group
Protifarm
Bühler Group
Insect Technology Group
Hermetia
Koppert Biological Systems
BioFlyTech
New generation systems
Protix
EXO
Coast Protein

Insect Protein Market Segmentation-
By Insect Type- Cricket, Yellow meal worm, Black soldier fly, Beetles, Caterpillar, Others,
By Product- Protein bars, Protein flour, Smoothie, others,
By Application- Food products, Animal feed, Edible film industry (packaging),
By Protein Extraction- Solvent-based, Aqueous-based

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2021 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Insect Protein as Partial Replacement for Fishmeal:
Insect protein can be used as a natural and processed food replacement for fishmeal. Fishmeal is becoming a finite resource, and the high protein value of insects can easily replace the proteins in fish feed. Some of the insects used in fish feed include black soldier fly, common housefly, silkworm moth, and yellow mealworm. Many factories are carefully designed and equipped to generate large quantities of insects to support the increasing demand. Insects can be fed with fruit and vegetable waste, making them the ideal sustainable and natural ingredient for fish feed. Insects play a crucial role in nature i.e. they can turn fruit- and vegetable waste into high-quality protein, lipids, and micro-nutrients.

Growing Demand for Insect Protein in Europe and Asia-Pacific:
The use of insect protein in feed products is gaining traction in Europe and Asia-Pacific. In most European countries, the human consumption of insects is low and often considered culturally inappropriate. Considering the growing population and the demand for traditional pork, beef, and chicken meat, insects are being considered as a source of animal protein. Also, insect protein is being incorporated in other everyday food items, such that consumers benefit from the nutrition content without actually perceiving the insects being consumed. Thus, manufacturers have been introducing insect protein powder-based protein bars, protein powder, pasta, and bakery products. Since the insects are not directly visible to the consumers, such products are easily accepted.

Workshops and Initiatives to Increase Awareness about the Benefits of Insects as a Food Source;
In February 2008, the FAO Regional Office for Asia and the Pacific organized an international workshop in Chiang Mai, Thailand, titled ‘Forest Insects as Food: Humans Bite Back’. The workshop brought together many world experts on entomophagy, focusing specifically on the science, management, collection, harvesting, processing, marketing, and consumption of edible forest insects, as well as their potential to be reared commercially by local farmers. The proceedings of the Chiang Mai workshop aimed to raise awareness of the potential of edible forest insects as a food source, the contribution of edible insects to rural livelihoods, and highlight linkages to sustainable forest management and conservation.

Key Questions Answered in The Report:
What will the Insect Protein market growth rate?
What are the key factors driving the global Insect Protein market?
Who are the key manufacturers in the Insect Protein market space?
What are the market opportunities, market risk, and market overview of the Insect Protein market?
What are sales, revenue, and price analysis of top manufacturers of the Insect Protein market?
Who are the distributors, traders, and dealers of the Insect Protein market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Insect Protein Industry?
What are sales, revenue, and price analysis by regions of Insect Protein industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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