Press release
Global Insect Feed Market size expected to reach US$ 2,204.7 Mn by the end of 2030
Insect Feed Market
The demand for good quality protein is rising in the poultry industry, thus increasing demand for insect feed. Edible insects may have demand comparable to soymeal and fishmeal that are used as key ingredients in feed formulae for animal feed and aquafeed. Insect protein is being used in the zoos and pet markets. This is the demand for insect feed.
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“Rise in soy and fish meal prices is encouraging feed producers to change their preferences towards insect protein to meet increasing demand for aquaculture and poultry feed. Companies operating in the market are also focusing on adopting strategies that will enable them expand their portfolio strength and regional footprint,” said a lead analyst at FMI.
Insect feed is increasingly used in poultry and pig nutrition. Both these sectors witness high demand on account of the rising population around the world. Furthermore, consumers nowadays have become more conscious about the nutrition present in food they eat. The rising demand for healthier meat products and over increase in demand for the same has spurred insect feed sales across the world. Insect feed supplies nutrition promoting healthy growth in livestock. With farmers seeking alternative sources of protein, the insect feed market will witness attractive growth opportunities in the future.
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INSECT FEED MARKET – KEY RESEARCH FINDINGS
• The estimated value of the market was at US$ 850 Mn in 2020
• The poultry nutrition segment in the developing economies has expanded rapidly
• North America is a competitive market with huge growth for the key players in the insect protein market
• Asia-Pacific remains dominant in the insect feed market as they are the largest producer in the aquaculture segment.
• The acceptance of insect feed is predicted to boost the decline in feed costs for suppliers and farmers.
INSECT FEED MARKET – INDUSTRY STRUCTURE ANALYSIS
• Insect feed companies are focusing on introducing new and ingredient-specific products
• Furthermore, these companies are focusing on improving their package designs to meet with environmental regulations
• They are also focusing on strategies collaborations to gain competitive edge. For instance, Buhler collaborated with Protix in January 2017 to develop industrial scale solutions for feed processing, larvae processing and larvae rearing, for the production of quality insect supplies
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Competitive Landscape
Companies operating in the global insect feed market are focusing on mergers and joint ventures with insect processing and rearing industries to gain market share. Some of the prominent vendors of the insect feed market are Nextprotein, Buhler AG, Hexafly, Entofood, Diptera Nutrition, Enviroflight, Coppens, and Agriprotein.
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Contact Us:
Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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