Global Insect Protein Market Report and Forecast 2024-2032

Global Insect Protein Market Size

The global insect protein market reached approximately USD 1.01 billion in 2023. The market is projected to grow at a CAGR of 16% between 2024 and 2032, reaching a value of around USD 4.09 billion by 2032.

Insect Protein Market Outlook

• As per the industry reports, the global demand for protein is expected to rise by around 60 per cent by 2050, which fuels the demand for insect farming.

• Insect farming utilises around 50 to 90 per cent less land compared to livestock rearing and that land can be used for food cultivation.

• The manufacturing site of Ÿnsect, based in Dole, eastern France, is the largest vertical insect farm in the world with a capacity of around 3 trillion mealworm beetles, utilised as a protein source and fertiliser.

Insect Protein Market Growth

Rising consumption of insects, demand for alternative sources of protein, and the rich nutritional content of insects are some of the prominent market drivers. Insects have become an essential part of food intake in the world as around 2 billion people in the world consume insects in their meals.

Moreover, several companies are investing in insect farming as unlike livestock, insects can be raised on food waste and with the implementation of renewable energy sources in the production process, the carbon footprint of insect farming can be significantly lower than landfill.

Market players are harnessing advanced technologies to enhance their production capacity. For instance, Full Circle Biotechnology is leveraging AI to study the historical and present-day data on insect farming to boost the trial-and-error process and optimise the production capacity for maximum output.

Insect Protein Industry Segmentation

“Insect Protein Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Insect Type

• Crickets

• Black Soldier Flies

• Mealworms

• Grasshoppers

• Ants

• Others

Market Breakup by Application

• Food and Beverages

• Animal Nutrition

• Pharmaceutical and Supplements

• Personal Care and Cosmetics

Market Breakup by Distribution Channel

• Offline

• Online

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Insect Protein Market Share

Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe accounts for a substantial market share owing to the high consumption of insect-based food products among the old-age population, the utilisation of insect-based protein in nutritional supplements, and its rising implementation in animal feed.

Leading Companies in the Insect Protein Market

The market players are enhancing their production capacity to gain a competitive edge in the market.

• Innovafeed SAS

• Darling Ingredients Inc.

• Hexafly

• Protix B.V.

• Aspire Food Group

• Chapul, LLC

• NTG Holdings Pte. Ltd.

• Entomo Farms

• Goterra

• NEXT Proteins, Inc.

• Others

Key Highlights of the Report