Insect Protein Market Poised for Remarkable Growth, set to Reach USD 856.08 million by 2029 with a CAGR of 24.1%

The global insect protein market size is anticipated to hit USD 856.08 million by 2029 and exhibit a CAGR of 24.1% during the forecast period. The rising demand for alternate protein, increasing urbanization, and other factors are expected to propel the market growth. Fortune Business InsightsTM has presented this information in its report titled, "Insect Protein Market, 2022-2029". The market size stood at USD 153.92 million in 2021 and USD 189.32 million in 2022.

Additionally, the growing popularity of plant-based meats and on-the-go protein snacks is likely to be a key trend boosting the market growth during the forecast period.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/insect-based-protein-market-100780

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬-
• Aspire Food Group (Canada)
• Ynsect NL Nutrition & Health B.V. (Netherlands)
• EntomoFarms (Canada)
• Chapul Cricket Protein (U.S.)
• Jimini's (France)
• EnviroFlight LLC (U.S.)
• Swarm Nutrition GmbH (Germany)
• AgriProtein Holdings Ltd (England)
• Next Protein Inc. (France)
• Innovafeed (France)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬-
On the basis of product type, the market is segmented into orthopetra, hymenopetra, lepidopetra, coleoptera, and others. On the basis of application, the market is trifurcated into pharmaceuticals & cosmetics, animal feed, and food & beverages. Geographically, the market is classified into South America, Europe, North America, the Middle East & Africa, and Asia Pacific.

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞-
• It includes key market developments and information on different market segments.
• It assesses the COVID-19 pandemic's impact on the market.
• It incorporates Porters' Five Forces Analysis for precise prediction.
• It assimilates key market drivers and restraints.
• It profiles the rankings of key market players accordingly.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/insect-based-protein-market-100780

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 & 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬-
𝐑𝐢𝐬𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐀𝐥𝐭𝐞𝐫𝐧𝐚𝐭𝐞 𝐏𝐫𝐨𝐭𝐞𝐢𝐧 𝐭𝐨 𝐅𝐮𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
Insects contain more proteins over animals and plants, and are less costly in rearing. They are now widely demanded across several industries in applications such as aquafeed, nutraceuticals, pet food, medicines, beverages, and others. The growing applications of insect protein and their high protein content are likely to bolster the insect protein market growth.
Food technology innovations, urbanization, dynamically evolving consumer tastes and preferences, and others are also expected to foster the market growth. The rising demand for alternate proteins is likely to stimulate the market growth.
However, high product costs due to expensive production may restrain the market's growth.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬-
𝐄𝐮𝐫𝐨𝐩𝐞 𝐭𝐨 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐮𝐞 𝐭𝐨 𝐖𝐢𝐝𝐞 𝐔𝐬𝐞 𝐨𝐟 𝐈𝐧𝐬𝐞𝐜𝐭 𝐏𝐫𝐨𝐭𝐞𝐢𝐧
Europe is estimated to hold the largest insect protein market share. The rising importance of fiber-fortified products across Germany and the U.K. and wide utilization of the protein in food applications across middle-age and old-age consumers are expected to fortify the region's market growth.
Asia Pacific is anticipated to exhibit rapid growth due to the rising domestic demand for the protein. China is expected to dominate the growth in Asia Pacific due to abundantly available raw materials. Moreover, the expanding food & beverage and pharmaceutical industries in South Korea, India, China, Indonesia, and Malaysia are expected to magnify growth in Asia Pacific.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.fortunebusinessinsights.com/enquiry/enquiry/insect-based-protein-market-100780

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞-
𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐀𝐝𝐨𝐩𝐭 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐭𝐨 𝐀𝐜𝐪𝐮𝐢𝐫𝐞 𝐆𝐫𝐨𝐰𝐭𝐡
The market is competitive due to the presence of various small-scale and large-scale manufacturers. EntomoFrams, Jimini's, EnviroFlight LLC, Aspire Food Group, Protix, Innovafeed, Hexafly, and Swarm Nutrition GmbH are amongst the top market players. The major market players emphasize production capacity expansion to cater to the growing demand and facilitate business expansion. They also adopt acquisitions, collaborations, mergers, and others to strengthen their expansions. For instance, Ÿnsect acquired Protifarm in April 2021.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐍𝐞𝐰𝐬:
Edible Insects Market: https://www.fortunebusinessinsights.com/edible-insects-market-102263
Animal Feed Testing Market: https://www.fortunebusinessinsights.com/industry-reports/animal-feed-testing-market-101411

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This release was published on openPR.