Insect Protein Market Projected to Reach $2.5 Billion by 2029 with a CAGR of 25.2%

Insect Protein Market Overview

The global insect protein market is witnessing remarkable growth, driven by increasing demand for sustainable protein sources. The market was valued at USD 345.2 million in 2023 and is projected to reach USD 1,134.8 million by 2030, growing at a CAGR of 18.3% during the forecast period 2024-2030. This surge is attributed to rising consumer preference for alternative proteins, government initiatives, and innovation by key players.

The report highlights major developments, mergers, and acquisitions across specific countries, emphasizing the market's potential in Vietnam, Thailand, Japan, China, South Korea, Singapore, the US, and Europe.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/86440/
Growth Opportunities in Vietnam
Vietnam is emerging as a promising market for insect protein due to its agricultural heritage and increasing consumer awareness of sustainable foods. Several companies, such as Entobel, are expanding their production facilities to cater to rising domestic and export demands.

Trends in Thailand
Thailand is positioning itself as a leader in edible insect production. With government support for exports and growing collaboration between local farmers and global players, companies like Bugsolutely have significantly boosted their production. Trends indicate increasing acceptance of insect-based food products in both local and export markets.

Opportunities in Japan
Japan's market growth is driven by technological advancements and a shift towards alternative protein sources. Companies such as Protifarm have entered the market, while consumer interest in sustainable food solutions fuels growth. The recent merger between Proterra Investment Partners and a Japanese food tech firm highlights consolidation trends.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/86440/
Growth Trends in China
China's massive population and focus on alternative proteins make it a significant player. Key developments include investments by Ynsect and partnerships with local firms for large-scale production. The Chinese government is also funding research to promote insect farming as a viable protein source.

Consolidation in South Korea
South Korea is witnessing consolidation in the insect protein market as major companies such as NeoFarms collaborate with global firms to enhance production capabilities. The country's regulatory framework also supports innovation and the introduction of edible insect products into mainstream markets.

Updation in Singapore
Singapore continues to be a hub for food innovation. Companies like Insectta are pioneering advancements in black soldier fly farming for protein production. The government's initiatives to promote food security and sustainability align well with the growth of the insect protein industry.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/86440/
Growth Opportunities in the US
The US market is a frontrunner in innovation and consumption of insect protein. Companies such as Aspire Food Group and Chapul are leading the market. Recent acquisitions, such as EnviroFlight's partnership with Cargill, demonstrate the growing interest of traditional food companies in this sector.

Trends in Europe
Europe is one of the largest consumers of insect protein, with regulatory approvals for human consumption driving demand. Companies such as Protix and Ynsect dominate the market. The European Union's focus on sustainability further supports market growth, with significant investments in research and production facilities.

Key Recent Developments
Ynsect raised significant funding for expanding its global operations, including a new facility in the US.
Entobel entered into a joint venture with a Thai firm to scale up insect farming in Southeast Asia.
Protix partnered with European retailers to introduce a range of insect-based protein products to the mainstream market.
NeoFarms launched a state-of-the-art production facility in South Korea, focusing on black soldier fly proteins.
𝐅𝐨𝐫 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝:https://www.maximizemarketresearch.com/market-report/global-insect-protein-market/86440/

Insect Protein Market Overview Segmentation

by Insect Type

Crickets
Wasps
Bees
Silkworm
Ants
Earthworms
Scorpions
Others (Locusts, Stink Bugs, Water Bugs, Mealworms, Bagworms)

by End-use

Food & Beverages
Animal Nutrition
Pharmaceutical & Supplements
Personal Care and Cosmetics

by Source

Coleoptera
Lepidoptera
Hymenoptera
Orthoptera
Hemiptera
Diptera
Others
by Distribution Channel Online
Offline

Insect Protein Market Overview Key Players

1. Entomo Farms
2. Exoprotein
3. Nutribug
4. Protix
5. Proti-Farm
6. Coast Protein
7. Aketta
8. C-fu Foods
9. EnviroFlight, LCC
10.nextProtein
11.Thailand Unique
12.Proti-Farm Holding NV
13.Chapul, LLC
14.Cricket Flours LLC
15.Crik Nutrition
16.Seek Food LLC
17.Haocheng Mealworms Inc.
18.Others

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