Press release
Mealworms Market Projected to Reach $1.27 Billion by 2030: Rising Demand for Sustainable Protein Sources Drives Growth
Meticulous Research®, a global leader in market research, has released a comprehensive report titled 'Mealworms Market - Global Forecast to 2030'. The report anticipates a substantial Compound Annual Growth Rate (CAGR) of 25.8% from 2022 to 2030, propelling the mealworms market to a valuation of $1.27 billion by the end of the forecast period.
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Market Dynamics Driving Growth:
1. Mitigating Greenhouse Gas Emissions:
• The alarming rise in greenhouse gas emissions from traditional livestock and poultry industries has fueled the demand for sustainable alternatives, positioning mealworms as an eco-friendly solution.
2. Nutritional Excellence:
• The high nutritional value of mealworms, rich in protein, vitamins, and minerals, contributes to their growing popularity in diverse applications.
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3. Environmental Advantages:
• Edible mealworm consumption is underscored by its environmental benefits, aligning with the global shift towards eco-conscious food choices.
4. Reduced Zoonotic Risks:
• As opposed to animal-derived products, mealworm consumption presents a lower risk of zoonotic diseases, further boosting market growth.
Challenges and Considerations:
• While the market is poised for exponential growth, the potential risk of allergic reactions associated with mealworm consumption is acknowledged, posing a notable challenge to market expansion.
Market Segmentation: The mealworms market is meticulously analyzed based on product type, application, end use, and geography, offering stakeholders a comprehensive understanding of key trends and opportunities.
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Product Type Segmentation:
• The market is categorized into whole mealworm, mealworm meal, mealworm powder, and other products. Whole mealworms dominate the segment, attributed to their easy availability and cost-effectiveness, driving demand for further processing by food and feed manufacturers.
Application Segmentation:
• Applications encompass animal feed, aquafeed, pet food, food & beverages, and other uses. The food & beverages segment is anticipated to witness the highest CAGR, driven by increasing awareness of nutritional importance, rising protein supplement usage, and mealworm incorporation in bakery products and snacks.
Geographical Insights:
• The report provides a detailed analysis of major geographies, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is forecasted to exhibit the highest CAGR, fueled by the region's demand for eco-friendly and protein-rich food.
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Key Players Shaping the Market:
• Key industry players driving the mealworms market include Protix B.V. (Netherlands), Ÿnsect SAS (France), BETA HATCH (U.S.), Armstrong Crickets Georgia (U.S.), TEBRIO (Spain), Tebrito AB (Sweden), Entec Nutrition (U.K.), Invertapro AS (Norway), Keil Co., Ltd (South Korea), EntoBreed Farming BV (Netherlands), and Goterra (Australia).
Outlook and Future Prospects: The mealworms market report offers valuable insights into the dynamic landscape of this burgeoning industry. With sustainability, nutrition, and eco-consciousness at the forefront, mealworms are poised to play a pivotal role in shaping the future of protein consumption globally. As the market continues to evolve, strategic innovations and solutions will be essential to address challenges and secure sustained growth in this transformative sector.
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