The insect protein market is projected to reach USD 4562 million by 2027, from USD 342.66 million in 2020, at a CAGR of 45% during the forecast period. The shift in consumer preferences toward insect protein instead of animal and dairy protein, owing to the rising concerns regarding sustainability and increased private and public support for the new protein sources in both developing and developed economies are some of the key factors driving the growth.
Insect protein is derived either through the direct intake of complete insect or through processed products. Insects, such as crickets, mealworms, black soldier flies, grasshoppers, and ants contain an excellent amount of protein, which can be easily brought up in limited accessibility of resources. These insects have been an essential part of traditional food in more than 110 countries, mainly concentrated in Southeast Asia.
Edible insects are, in general, rich in protein, fat, and energy and can be a significant source of vitamins and minerals. They are a sustainable alternative protein source in feed and food. Edible insects can contribute to food and feed security. They have great potential as an environmentally friendly alternative for future food systems. Such advantages are projected to bode well for the demand in the forthcoming years.
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The Top Key Players include:
JR Unique Foods
Nordic Insect Economy
Aspire Food Group
Hargol Food Tech
Global Insect Protein Market Key Segments:
On the Basis of Type:
Black Soldier Flies
On the Basis of Application:
Cosmetics and Pharmaceutical
On the Basis of Region:
- North America
- Latin America
- Middle East and Africa (MEA)
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The Insect Protein market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region. The growing awareness about and demand for high-quality and zero-defect products has fuelled the need for Insect Protein in inspection-related applications in the manufacturing fields.
However, the outbreak of COVID-19 has significantly affected the manufacturing sector of APAC. As the neighbouring countries are linked to one another through trade relations and supply chain the entire region is affected with the outbreak of COVID-19 which will have a significant impact on the said market in this region for the forecast period.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact on Insect Protein Market
Chapter 5. Global Insect Protein Market Overview, By Application, 2015 – 2027(USD Million)
Chapter 6. Global Insect Protein Market Overview, By Distribution Channel, 2015 – 2027(USD Million)
Chapter 7. Global Insect Protein Market Overview, By Geography, 2015 – 2027(USD Million)
Chapter 8. North America Insect Protein Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 9. Europe Insect Protein Market Overview, By Countries, 2015 – 2027(USD Million)
Chapter 10. Asia Pacific Insect Protein Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 11. Middle East & Africa Insect Protein Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 12. South America Insect Protein Market Overview, By Countries, 2015 – 2027 (USD Million)
Chapter 13. Competitive Landscape
Chapter 14. Key Vendor Analysis
Chapter 15. Insect Protein Market Cost Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market
Reasons to Buy the Report:
- Learn about the driving factors, affecting the market growth.
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- Envision the restrictions and restrains that are likely to hamper the market.
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