Global Insect Protein Market Set to Reach $3.3 Billion by 2027, Fueled by Growing Demand and Regulatory Approvals

The global insect protein market will witness significant growth, reaching a value of USD 3.3 billion by 2027. The report projects a remarkable compound annual growth rate (CAGR) of 33.4% during the forecast period. This growth is primarily attributed to the surging demand for animal protein, particularly in emerging economies, along with increasing regulatory approvals for the use of insect protein in developed regions, driving the expansion of the insect protein market.

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Key Highlights:

Diverse Insect Types and Applications: The market encompasses various insect types, including crickets, grasshoppers, ants, mealworms, black soldier flies, and others. Insect protein finds applications in various sectors, such as food and beverages, animal nutrition, and pharmaceuticals and cosmetics.

Rising Demand in Food & Beverage: Among the diverse applications of insect protein, the food and beverage segment stands out as the fastest-growing. Food and beverage companies, dairy-alternative manufacturers, and feed industries are among the primary buyers in this market. The supply of insect protein plays a crucial role in the production of insect-based food and beverages.

Asia Pacific Leads Growth: The Asia Pacific region is witnessing the highest growth rate in the insect protein market. Southeast Asian countries have a longstanding tradition of entomophagy, but they lack comprehensive regulations related to the breeding, sale, and export of insects. This region offers substantial opportunities for insect protein manufacturers, particularly in the animal nutrition sector. Moreover, the pharmaceutical and cosmetics segments are also experiencing growth, with China and Japan being notable contributors. Additionally, the increase in food consumption per capita in Australia, driven by a projected population of 35.9 million by 2050, further bolsters the market's expansion.

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Key Players: The major players in the global insect protein market include EnviroFlight (US), InnovaFeed (France), HEXAFLY (Ireland), Protix (Netherlands), Global Bugs (Thailand), Entomo Farms (Canada), and Ynsect (France), among others.

The insect protein market is on a robust growth trajectory, driven by evolving consumer preferences, increasing awareness of sustainability, and expanding applications across various sectors. This report underscores the market's potential and highlights the pivotal role of insect protein in meeting the global demand for sustainable protein sources.

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