According to a new report titled “Insect Feed Market” published by Allied Market Research, the Insect Feed Market Size was valued at $261.50 Million in 2021 and is estimated to reach $2.2 Billion by 2031. 2022-2031.
Insects offer high quality protein, amino acids and vitamins for livestock as well as pet food. An insect-based diet for livestock can potentially replace soybean meal in their diet. The nutritional quality of fly larvae, mealworms, silkworms, grasshoppers and others is used in pig, poultry, aquaculture and ruminant feeds. These insects offer 42-63% higher protein content than traditional sources such as soybean meal and fish meal. Also, insect feeds are more palatable and can replace 25-100% of soybean meal and fish meal, depending on the animal used.
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Increasing Insect Feed Market Demand for Poultry Products from Food Service Industry is Driving the Growth of Insect Feed Market. Improvements in animal husbandry techniques for the development of animal husbandry with low environmental impact are further contributing to the growth of the market. A healthy gut reflects that the animal has consumed a sufficient amount of protein. Protein is also necessary for a healthy metabolism. Protein deficiency reduces fertility among animals. Thus, protein deficiency can be overcome by consuming insect feed. This factor will drive the growth of the insect feed market during the forecast period. Moreover, the identification of insects as a more sustainable source of protein than traditional sources will further contribute to market growth and is likely to bring the insect feed market opportunity.
However, the availability of alternative feed options such as corn meal, soybean meal, canola meal, whey meal restricts the growth of the insect feed market. Also, poor knowledge regarding the risks associated with insect toxicity, food quality, diseases and allergic reactions among animals may hamper the market growth.
The global insect feed market is segmented by product type, end user, end use, and region. Market mealworms, fly larvae, silkworms, cicadas, etc. by product type. divided into categories. According to the end user, it is divided into residential and commercial. Depending on the end use, it is segmented into pet food, aquaculture and animal husbandry. In terms of regions, it is analyzed by North America (USA, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, South). Korea, Australia, Singapore, New Zealand and Rest of Asia-Pacific) and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, UAE and Rest of LAMEA).
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The main results of the study
On the basis of product type, mealworms segment dominated the global market with more than 32% insect feed market share in 2021. However, the fly larvae segment is considered to be the fastest growing segment during the forecast period.
On the basis of end-use, aquaculture dominated the global market in 2021. However, livestock is likely to be the fastest growing segment with a CAGR of 26.0% during the forecast period.
On the basis of end-user, the commercial segment dominated the global market with a market share of over 79% in 2021. However, the residential segment is expected to be the fastest growing segment during the forecast period with a CAGR of 26.2%.
By category, the branded segment dominated the global market with over 70% market share in 2021. However, the private label segment will be the fastest growing segment during the Insect Feed Market Forecast period at a CAGR of 15.1%. .
In terms of regions, North America was the highest contributor and is estimated to reach $704.8 million by 2031 at a CAGR of 22.3%. However, LATAM is likely to be the fastest growing region during the forecast period.
Players operating in the Insect Feed industry have adopted product sales and business expansion as key growth strategies to expand market shares, increase profitability, and maintain market competitiveness. Key players profiled in the Insect Feed Market Analysis are AgriProtein Holdings Ltd, Buhler AG, Protix, Enterra Feed, entofood, enviroflight, Nasekomo, InnovaFEED, Hexafly, Coppens, DeliBugs, Kreca Ento-Feed BV, Ynsect, Nusect, Pro, , and Entobel.
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