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Insect Feed Market is projected to increase at a higher CAGR of 10.5% between 2022-2029 | Size, Report & Forecast
Insect Feed Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/insect-feed-market-analysis-industry-research/
The factors driving the growth of Insect Feed Market includes growing consumption for meat and egg products around the world, high nutritional values provided by insects, changes in diet pattern, rise in the production of livestock and improvements in the living standards. Moreover, rising awareness about he benefits of insect feed products, high prices of soybean meals, wheat and corns, high feed conversion ratio of insects, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Insect Feed Market Growth. In addition, the increasing investments by major corporations on research and development, growing adoption of advanced technologies by major manufacturers and rising population growth rates, are further contributing towards the market growth.
However, growth of the Insect Feed Market is hindered due to strict regulations regarding the production of insect feed products.
The major players operating in the market are InnovaFeed, Tiny Farms, Enviroflight, Protix, Insect Technology Group Holding UK Ltd., Alltech Coppens, AgriBriefing Ltd., nextProtien, and Enterra Corporation, among others.
Based on Application, the Poultry segment is predicted to capture the largest market share during the forecast period
Increasing use of cockroaches, stink bugs and scale insects in insect feed products, is the major factor pushing growth of the segment
On the other hand, the Aquaculture segment is projected to grow at a remarkable CAGR over the forecast period attributed to growing demand for farmed fish and increasing awareness about the benefits of consuming livestock and fish.
Based on Region, the North American region is anticipated to hold the highest market share over the forecast period
Increasing use of Hawaii insects for producing insect feeds, growing adoption of advanced technologies by manufacturers, rising consumption of fish and meats across United States and Canada, and high per capita incomes, are some of the important factors augmenting the market growth in North American region.
Key Development
In 2018, Protix introduced its first insect fed salmon, branded as a friendly salmon. The new feed for salmon is derived from Portix's Black Fly larvae meal, Proteinx.
Market Segmentation
Segmentation by Source
Meal Worms
Fly Larvae
Others
Segmentation by Application
Aquaculture
Poultry
Pig
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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