Portland, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global insect feed market 261.5 million in 2021 and is estimated to reach $2.2 billion by 2031, witnessing a CAGR of 24.5% from 2022 to 2031. The report provides detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape. , and the competitive scenario. The report is a useful source of information for leading market players, new entrants, investors, and stakeholders in developing future strategies and taking steps to strengthen their market positions.
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Scope and details of the report:
|Scope of the report||Details|
|Market size in 2021||$261.5 million|
|Market size in 2031||2.2 billion dollars|
|Number of Pages in Report||231|
|Covers segments||Product type, end use, end user and region|
|Drivers||Growing demand for poultry products from the food industry.|
|Improvement of breeding techniques for the development of animal husbandry with low impact on the environment.|
|The need for protein in animals to increase productivity.|
|Opportunities||Identifying insects as a more sustainable source of protein than traditional sources.|
|Restrictions||Availability of alternative feed options such as corn meal, soybean meal, canola meal and whey meal.|
|Poor knowledge of the risks associated with insect toxicity, food quality, disease and allergic reactions among animals.|
- The outbreak of the Covid-19 pandemic has led to an increase in consumer awareness of the spread of various diseases as a result of the consumption of unknown food and feed types, thereby reducing the demand for insect feed.
- The closure of borders to combat the spread of the coronavirus has had a significant impact on the insect feed industry. This has slowed the import business, which has limited the availability of traditional feeds, creating more demand for locally sourced and potentially new options available.
- The pandemic has also helped growers look for more sustainable and cost-effective alternatives to traditional foods.
The report offers detailed segmentation of the global insect feed market on the basis of product type, end use, end user and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants to identify the sub-segments that will be leveraged to achieve growth in the coming years.
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Based on product type, the mealworms segment accounted for the largest share of the global insect feed market in 2021, accounting for approximately one-third. However, the fly larvae segment will dominate in terms of revenue and is estimated to witness the fastest CAGR of 26.5%. during the forecast period. Silkworms, cicadas and other segments are also analyzed in the report.
By end-use, the aquaculture segment was the largest, accounting for more than two-fifths of the global insect feed market share in 2021 and will rule the roost by 2031. However, the livestock segment is estimated to witness the fastest CAGR of 26.0. % during the forecast period. The report also provides pet food segment analysis.
Based on end-user, the commercial segment was the largest in 2021, accounted for nearly four-fifths of the global insect feed market share and would dominate in terms of revenue during the forecast period. However, the residential segment is witnessing the fastest CAGR at 26.2% during the forecast period.
Based on region, the North American market was the largest in 2021, accounted for nearly two-fifths of the global insect feed market share, and will maintain progressive revenue growth during the forecast period. However, the LAMEA market is expected to show the highest CAGR of 29.9% from 2022 to 2031. Other regions analyzed in the study include Europe and Asia-Pacific.
Leading players of the global Insect feed market analyzed in the study include AgriProtein Holdings Ltd., The Bühler Holding AG, Protix, Enterra Feed Corporation, Endofood Sdn Bhd, EnviroFlight, LLC, Nasekomo, InnovaFeed SAS, Hexafly, Alltech Coppens, KreBug. Ento-Feed BV, Ÿnsect, Nusect, Protenga, Beta Hatch, Nutrition Technologies Sdn Bhd, JR Unique Foods Ltd., and Entobel.
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The report analyzes these key players in the global Insect Feed market. These players have adopted various strategies such as expansion, new product launch, partnership and others to increase their market penetration and strengthen their position in the industry. The report is helpful in identifying the business performance, operating segments, product portfolio and developments by each market player.
Allied Market Research (AMR) is the full-service market research and business consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unparalleled quality to global enterprises as well as medium and small businesses”Market Research Reports” and “Business Intelligence Solutions.” AMR aims to provide business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.
We have professional corporate relationships with various companies, which helps us extract market data that helps us create accurate research data tables and confirms maximum accuracy in our market forecasting. Pawan Kumar, CEO, Allied Market Research, plays an important role in inspiring and motivating everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. Every piece of information presented in the reports published by us is obtained through preliminary interviews with senior officials of leading companies in the respective domain. Our secondary data procurement methodology includes in-depth online and offline research and discussions with knowledgeable industry professionals and analysts.