Insect Feed Market Set For Notable Growth to 2033| Future Market Insights Inc.

Insect Feed Market
Insect Feed Market

The total worth of the global insect feed market could be around US$ 1,561 million in 2023. Over the forecast years from 2023 to 2033, the worldwide demand for insect feed is expected to grow annually at a rate of 17.9%. By the end of 2033, the net worth of the market is projected to reach US$ 8,124 million.

The Asia-Pacific market has driven the marketplace, but Europe is expected to surpass Asia-Pacific during the anticipated period, owing to rising demand for protein-rich livestock feed in the region as well as official approval for black soldier fly farming. In the past few years, rising demand for protein-rich diets has boosted the share of the market for unconventional protein sources like insects by 38%

Insect feed requirement is being driven by evolving agricultural practices, expanding population, money, and a growing market requirement for nutritious animal food. As a form of insect feed, larvae and worms are used. Demand for both subcategories is expected to rise in response to a growing demand for animal food

As the need for high-quality animal protein grows, so does the necessity for insect feed for chickens. Edible insects may just have arrived at a point where they may compete with products like soy meal and fishmeal, which are key elements in animal feed and aquafeed compositions because of their growing popularity

Download the Sample Report to Enhance Industry Knowledge: Gain a Comprehensive Summary and Valuable Insights@ https://www.futuremarketinsights.com/reports/sample/rep-gb-11604

The aquafeed industry has always been on the search for potential sources of nutrition. As a result, mealworms and fly larvae are becoming more popular. The demand for alternative and economical sources of protein, like eatable insects for animal feed is increasing as fisheries output grows. Insect feed is projected to become more popular in chicken and pork nourishment as well as in aquaculture

Insect protein is used to make processed foods that are packaged and ready to consume. Protein bars and powdered protein shake, as well as several foods, include insect protein. Evidently, the switch in insect protein utilisation for food products will open new growth opportunities over the anticipated timeframe

Key Takeaways from Market Study

  • The insect feed market is expected to expand at CAGRs of 11% and 16% in Europe and America, respectively, through 2032.
  • Market share of animal feed from poultry holds 21% of the total market in 2021.
  • The North American market total sales are currently pegged at USD 870 Mn.
  • The growing desire for protein-rich nutrition has boosted the share of the market of substitute sources of protein such as insects.
  • The COVID-19 epidemic has created various issues for the food industry. When compared to traditional animal feed supplies, the insect feed industry currently faces problems such as mass production. The key element expected to fuel growth in the global insect feed market is the expansion of the aquaculture and poultry sectors.

“Manufacturers of insect feed components may make considerable profits by focusing on the protein source business, “the insect nutrition sector would also act as a potential market for feeding livestock, which is linked to increased demand for protein products worldwide.” says a Future Market Insights analyst.

Get Full Access of this Report@ https://www.futuremarketinsights.com/checkout/11604

Competitive Landscape

Insect feed manufacturers are putting a lot of effort into research and development to improve the quality of their products.

Thai Union Group- The company debuted insect protein goods in Thailand in March 2020, fueling the industry with a USD 6 million investment in a brand called Flying Spark. The firm claims to provide an alternative protein supplement based on cutting-edge, high-quality processes.

Protix BV- In March 2020, the firm announced that Rabo Corporate will become a stakeholder, claiming that this would help it expand its insect protein production capabilities in the Netherlands.

Beta Hatch- Cavallo Ventures and Brighton Jones confirmed in May 2020 that the firm has obtained USD 4 million through investment. The company intends to construct a production facility in North America where it will begin commercial mass production of mealworms.

ValuSects project- A project was launched in May 2021 with the goal of enhancing edible insect processing and manufacturing technologies. Europe provided money for this research in the amount of 3 million euros.

Request for our Comprehensive Research Methodology to Understand the Market@ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-11604

Insect Feed Market Segmentation

By Insect Type:

  • Fly Larvae
  • Silkworms
  • Cicadas
  • Other Insects

By Application:

  • Aquaculture
  • Pig Nutrition
  • Poultry Nutrition
  • Diary Nutrition
  • Other Applications

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

 Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

Leave a comment

Your email address will not be published. Required fields are marked *