Thursday, February 2, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

Insect Protein Market Worth $9.46 Billion by 2030— Exclusive Report by Meticulous Research®

Press Room by Press Room
August 13, 2022
in Press Release
Insect Protein Market Worth $9.46 Billion by 2030— Exclusive Report by Meticulous Research®
Share on FacebookShare on Twitter


 


(EMAILWIRE.COM, August 13, 2022 ) According to a new market research report titled, ‘Insect Protein Market by Product (Whole Insect, Insect Powder, Insect Meal), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages), and Geography—Forecast to 2030,’ in terms of value, the insect protein market is expected to record a CAGR of 28.4% from 2022–2030 to reach $9.46 billion by 2030. However, in terms of volume, the insect protein market is expected to record a CAGR of 31.5% from 2022–2030 to reach 3,028,468.3 tonnes by 2030.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5267

The current food production needs to be doubled to fulfill the growing population’s food requirements. This effort would require finding environment-friendly and sustainable food production methods and food sources with high nutritional content. Hence, insect proteins could be a great solution due to their high nutritional values.

Impact of COVID-19 on the Insect Protein Market

The COVID-19 pandemic created numerous challenges for the food sector, especially meat products manufacturers across the globe. The meat products manufacturing industry has faced major challenges, such as the risk of continuing production, distribution, transportation, and other supply chain activities, limited workforce, and delays in product development. The rescheduling of private investment financing and public funding initiatives further restricted the development of the food sector. These factors are expected to impact the meat products industry, driving the demand for alternative protein sources, such as insect proteins.

The U.S. Department of Agriculture announced that between March and April 2020, the volume of frozen pork in storage declined by 4%, and slaughter rates dropped by 25%. However, many news sources have commented that it is still too early to declare a food crisis. Some economists predict that consumers will have significantly fewer options for meat and protein. All these factors could create such a snowball effect around the globe. As insects contain high quantities of protein, vitamins, and minerals, they could fill the gap left by U.S. meat producers during the COVID-19 crisis.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5267

The insect protein market is segmented based on product (whole insect, insect powder, insect meal), insect type (crickets, mealworms, black soldier flies, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other insect proteins), application (food & beverages and feed), end use (human consumption and animal nutrition), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on the product, in 2022, the whole insects segment is expected to account for the largest share of the insect protein market. The easy availability and the lower cost of whole insects compared to processed insects is one of the major drivers fueling its demand in the market. Furthermore, the lack of insect processing facilities in some parts of the world and the growing demand for insects in the animal feed industry drives the growth of this segment. However, the insect powder segment is expected to grow at the highest CAGR during the forecast period of 2020–2030. Increasing health & wellness trends, the rising number of health clubs & fitness centers serving insect powder, the emergence of several start-ups producing insect protein bars & shakes, and busy lifestyles demanding highly nutritious & convenient foods, such as insect powder are some of the major drivers for the growth of this segment.

Based on insect type, in 2022, the crickets segment is estimated to account for the largest share of the insect protein market. The growth of the crickets segment is attributed to the higher incorporation of crickets into various food recipes and products, high nutritional value and ease of farming & processing of crickets, and the rising demand for cricket-based food products such as protein powders, protein bars, and snacks. However, the black soldier flies segment is estimated to witness significant growth during the forecast period of 2020–2030. The growth of this segment is attributed to the rising demand for alternative proteins from the animal feed industry due to the rising prices of fish and soy meal, the growing aquaculture industry, the rising number of government approvals for the use of insect meal in livestock feed, and the increasing number of investments by major players in the black soldier fly industry.

Quick Buy – “Insect Protein Market by Product (Whole Insect, Insect Powder, Insect Meal), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar & Shakes, Bakery, Confectionery, Beverages), and Geography – Global Forecast to 2030” Research Report: https://www.meticulousresearch.com/Checkout/71834328

Based on application, in 2022, the food & beverages segment is expected to account for the largest share of the insect protein market. The segment is also expected to grow at the highest CAGR during the forecast period of 2020–2030. The growth of this segment is driven by the growing food shortage worldwide, the increasing consumption of processed whole insects as food, and the rising demand for high-quality alternative protein and amino acid sources among end users.

Based on end use, in 2022, the human consumption segment is expected to account for the largest share of the insect protein market. The large share of this segment is attributed to the rising demand for insect-based foods from the growing global population, the high nutritional value of insects, and the growing demand for environment-friendly alternative sources of protein.

Based on geography, the insect protein market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to account for the largest share of the insect protein market. The market growth in Asia-Pacific is attributed to factors such as the well-established commercial farming market for insects, especially in Thailand; the wide availability of various insects coupled with huge production; the positive attitude towards insects as food & feed in Southeast Asia; the absence of regulatory barriers to using insects as food & feed; and the presence of key market players in the region. However, North America is slated to register the highest CAGR during the forecast period. The increasing demand for insect protein foods in the region is attributed to the growing demand for environment-friendly protein-rich food. In addition, the increasing familiarity with insects as food, decreasing food neophobia, and altering attitudes towards insects, both in general and as food, are the key factors driving the growth of the insect protein market in North America.

Key Players

The key players operating in the global insect protein market include Ÿnsect (SAS) (France), Protix B.V. (Netherlands), Enterra Feed Corporation (Canada), InnovaFeed (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Entomo Farms (Canada), Hargol FoodTech (Israel), Aspire Food Group (U.S.), All Things Bugs LLC (U.S.), Beta Hatch (U.S.), EntoCube OY (Finland), Armstrong Crickets Georgia (U.S.), Global Bugs Asia Co., Ltd (Thailand), JR Unique Foods (Thailand), Cricket Lab Limited (U.K.), BioflyTech (Spain), TEBRIO (Spain), nextProtein (France), Hexafly (Ireland), HiProMine S.A. (Poland), and Protenga Pte. Ltd. (Singapore).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/insect-protein-market-5267



Source link

Previous Post

Over-the-Top Services Market Size Gaining : USD 156.9 billion by 2024

Next Post

OmanNews.Club™ Adds to Arab Newswire Media Lists for Press Release Distribution to GCC/MENA Countries

RECOMMENDED NEWS

Machine Condition Monitoring Market Worth $5.2 Billion by 2029 – Exclusive Report by Meticulous Research®

5 months ago
Outskirts Press announces Kaleidoscope Facets, the latest highly-anticipated biography & autobiography

Outskirts Press announces Kaleidoscope Facets, the latest highly-anticipated biography & autobiography

6 months ago

Paymentology – A Global Superpower in Payments – Banking & Finance

2 months ago

Machine Vision Industry Worth $17.2 billion in 2027

3 months ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • قد يؤدي استهلاك الجوز إلى إبطاء تطوّر السرطان

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia
  • Saudi’s foreign minister receives Commissioner-General of UNRWA
  • The G700 business jet broke 25 speed records during its world tour
  • Saudi Arabia plans road project in Aseer region to elevate … – Arab News
  • Arab Africa Trade Bridges (AATB) Program Hosts Series of Bilateral Trade Business to Business (B2B) Meetings in Casablanca, Morocco

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.