Insect Protein Market on Track to Reach US$ 1.20 Bn by 2031 - Persistence Market Research

The global insect protein market is witnessing a paradigm shift in the food and feed industry, with growing recognition of insects as a sustainable, nutrient-rich source of protein. Estimated at US$305.9 million in 2024, the market is projected to soar to US$1,209.5 million by 2031, expanding at a CAGR of 21.7%. This remarkable growth is driven by the increasing need for sustainable protein alternatives amid population growth, food security challenges, and consumer demand for eco-conscious nutrition.

Among product applications, the animal feed segment holds a prominent position, leveraging the nutritional density and efficiency of insect protein. Geographically, Europe leads the market, fueled by progressive regulatory frameworks, investment in insect farming, and consumer openness to alternative proteins.

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Key Highlights from the Report:

➤ Insect protein market projected to grow at a CAGR of 21.7% from 2024 to 2031.
➤ Europe is the dominant regional market due to investment in alternative protein infrastructure.
➤ Animal feed remains the leading application segment, driven by high protein conversion efficiency.
➤ Cricket and mealworm-based proteins gain popularity in both food and feed categories.
➤ Startups are introducing protein bars and snacks using insect-based protein ingredients.
➤ Insect farming uses up to 90% less land and water compared to traditional livestock.

Market Segmentation:

The insect protein market is segmented by insect type, product type, application, and region. In terms of insect type, black soldier flies, crickets, and mealworms dominate due to their superior nutritional profiles and ease of farming. Product-wise, Orthoptera and Coleoptera-derived proteins are increasingly utilized across both food and feed sectors. Application-wise, the animal feed segment leads, followed by human food applications like protein bars and baked goods. Pharmaceutical and cosmetic applications are also emerging as niche yet promising areas.

Regional Insights:

Europe continues to command a significant share of the insect protein market, buoyed by government backing, sustainable food policies, and a strong consumer base inclined toward eco-friendly diets. Germany, France, and the UK are key contributors. Asia Pacific is poised for rapid growth due to traditional insect consumption habits, varied climatic conditions, and rising awareness. North America is emerging as a lucrative market as clean-label trends and protein innovation drive consumer interest.

Market Drivers:

The primary driver for the insect protein market is the growing demand for sustainable, high-quality protein sources amid global food security concerns. Insect protein offers high feed conversion ratios, requires minimal natural resources, and emits lower greenhouse gases, making it an environmentally sound option. Moreover, the food and beverage industry is embracing insect protein to develop new-age products like protein shakes, snacks, and meal replacements. Health-conscious millennials and Gen Z consumers are especially receptive to alternative proteins, further propelling demand.

Market Restraints:

Despite the positive outlook, the market faces challenges such as high production costs, limited scalability, and consumer skepticism. Insect protein production requires specialized infrastructure and technology, which increases cost and limits affordability. Additionally, in many Western countries, cultural and psychological barriers hinder the mainstream adoption of insect-based foods. Regulatory inconsistencies and lack of global standards for insect farming and processing also act as constraints.

Market Opportunities:

A promising opportunity lies in the growing demand for sustainable animal feed, especially in Europe where over 60% of protein for animal feed is imported. Insect protein can fill this gap efficiently. Asia Pacific's ingrained cultural acceptance of entomophagy offers another growth lever. Consumer awareness campaigns, culinary innovation, and availability of insect-based food in mainstream retail channels are expected to unlock massive potential. Furthermore, advancements in bioconversion technology and vertical farming methods will help reduce costs and boost production.

Frequently Asked Questions (FAQs):

◆ How big is the insect protein market in 2024 and what is its forecast for 2031?
◆ Who are the key players in the global insect protein market?
◆ What is the projected growth rate of the insect protein market through 2031?
◆ Which region is estimated to dominate the insect protein industry during the forecast period?
◆ What are the key trends and innovations driving demand for insect protein?

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Company Insights:

• Ÿnsect
• Protix
• Aspire Food Group
• AgriProtein Holdings Ltd
• Protifarm
• EnviroFlight LLC
• Imago Insect Products GmbH
• Jimini's
• EntomoFarms
• Chapul Cricket Protein
• Hexafly

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